In this paper, we investigated the economic effects of zoning regulations on the retail industry in Korea. We estimated the changes in the number of sales for retail stores using a panel regression analysis for stores in traditional markets. This analysis was conducted to examine the benefit of zoning regulations on retail stores. Our results show that the zoning regulations (called Traditional Commercial Activity Protection Zones) have contributed to an improvement in the actual business performance of small independent retailers. We found that the amount of sales for each store clearly increased on average in the areas designated as Traditional Commercial Activity Protection Zones where there was no market entry of mega supermarket chains (called SSM in Korea). We also present evidence that the effects of this policy differ geographically: the effects were stronger for small and medium cities than for large metropolitan cities. These results suggest that zoning regulations enacted by the government to protect traditional markets and small retailers should also consider regional differences when assessing policy effectiveness.

中文翻译：

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区划法规对韩国中小型零售商的经济影响*

在本文中，我们调查了分区法规对韩国零售业的经济影响。我们使用面板回归分析对传统市场中的商店进行了估算，从而估计了零售商店的销售数量变化。进行此分析是为了检查分区规则对零售商店的好处。我们的结果表明，分区法规（称为传统商业活动保护区）有助于改善小型独立零售商的实际业务绩效。我们发现，在没有大型超市连锁店进入市场的传统商业活动保护区（韩国称为SSM）的区域，每家商店的销售额明显平均增加。我们还提供证据表明该政策的效果在地理位置上有所不同：与中型城市相比，中小型城市的影响更大。这些结果表明，政府为保护传统市场和小型零售商而颁布的分区法规还应在评估政策有效性时考虑区域差异。