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Analyzing Features of Outflow Household in Local Small and Medium sized Declining Cities

The purpose of this study is to analyze the features of outflow population in the local small and medium sized declining cities, focusing mainly on the household level, and also to find the decision factors of regional choice using the bivariate probit model. As a result, this study found that the households that flowed out of the declining city are associated with high financial assets and higher educational levels. However, housing ownership was found to be a factor that lowered the probability of population outflow because it gave relatively high residential stability, and also due to the low liquidity of housing assets compared to financial assets. Economic characteristics such as income and occupation were also found not to be the determinants of the migration in the declining city. However, the probability of professional and office workers migrating to the Seoul metropolitan area is relatively high. This seems to be due to the fact that demand for highly educated occupations is higher in the Seoul metropolitan area. In conclusion, this study gives a better understanding of the features of outflow population in the declining cities as well as its policy implications for balanced development.