산업단지 입주가 기업의 생산성과 고용 증가에 미치는 영향 분석

Although the establishment of industrial complexes has played a significant role in industrial location policies in Korea, there is a paucity of studies evaluating firms’ benefit from industrial parks. This study analyzes the impact of industrial parks on firms’ productivity and employment growth using firm level data from 2013 to 2019. To relieve endogeneity due to self-selection bias regarding firms’ location choice, propensity score matching (PSM) technique and difference in difference (DID) estimation are applied. Accordingly, the sample is constructed with on-park firms and off-park firms with similar attributes, exclusively. Estimation results show that a firm’s relocation into an industrial park does not lead to the firm’s productivity growth. Rather, in the short term, productivity level of on-park firms are lowered than that of off-park firms due to the relocation cost and lasthe loss of ties with economic entities in previous location. Though a firm’s relocation into an industrial park positively influences on employment growth, the effect tends not to last for a couple of years. These findings indicate policy efforts are needed to strengthen the positive impact of industrial parks on firms’ performance through agglomeration externality.