• Journal of the Economic Geographical Society of Korea
• /
• v.12 no.2
• /
• pp.215-233
• /
• 2009

The purpose of this study is to compare traditional productivity and environmental productivity of Chinese 28 provinces for 1997-2005. The Eastern, the Central and the Western regions show higher M productivity indices than ML productivity indices before 2000 year, but two productivity indices of three regions report almost similar levels after 2000 year. The M productivity indices were higher than the ML productivity indices in the most provinces for 1997-2005. It implies that the Chinese regional economies have difficulties in the production activity reducing pollutants and increasing desirable outputs simultaneously. In the future, the Chinese 28 provinces need to change the direction of economic growth in the way that pursuits economic growth restraining pollution emission quantities thoroughly and should improve the concrete investment for clean technology of pollutant treatment, reinforcement of environmental regulation, and effectiveness of enforcement law.

• Proceedings of the Korea Water Resources Association Conference
• /
• 2005.05b
• /
• pp.1486-1490
• /
• 2005

지속가능한 수자원 개발 및 관리를 위해서는 유역 내에서 진행되고 있는 수자원에 관련된 활동들이 지속가능한 개발의 개념에 부합하는지 여부를 판단해야 한다. 이를 위해서는 국가, 유역, 지자체 등의 수문, 수질, 사회, 경제, 환경적인 요인들을 고려한 다변수 평가 지수가 필요하다. 본 연구에서는 유역의 수자원을 평가할 수 있는 지표들을 선정하고 이들 간의 중요도는 계층적 분석기법(Analytic Hierarchy Process, AHP)을 사용하여 산정하였으며 이들을 종합한 수자원 지속가능성 지수(WRSI, Water Resources Sustainability Index)를 개발하였다. WRSI는 경제적 효율성 세부지수, 사회적 공평성 세부지수, 환경 보전성 세부지수, 유지관리능력 세부지수로 구성하였다. 지표들과 세부지수들 간의 중요도는 전문가들에 대한 설문조사를 통하여 산정하였다. 개발된 WRSI 구성지표들의 표준화는 이들의 적정 확률분포를 선정한 후 누가확률을 사용하여 산정하는 방법을 개발하여 사용하였다.

• The Korean Journal of Applied Statistics
• /
• v.33 no.5
• /
• pp.639-653
• /
• 2020

Baker et al. (Quarterly Journal of Economics, 134, 1593-1636, 2016) developed an Economic Policy Uncertainty (EPU) index for South Korea in the same way as the U.S. EPU Index. However, the South Korean EPU index of Baker et al. (2016) has limitations as it did not fully reflect South Korean situation in terms of keyword selection and the selection of newspapers. We develop monthly South Korean economic policy uncertainty indexes with different keywords and news media. Various analyses have been conducted in order to examine the usefulness of the newly compiled indexes.

• Journal of Korea Port Economic Association
• /
• v.36 no.4
• /
• pp.93-106
• /
• 2020

Trade is an important economic activity. In particular, since the establishment of the World Trade Organization (WTO), the scope of trade has been expanding due to events such as the entry of China into the WTO in 2001, the establishment of a multilateral trading system, mitigation and integration of trade barriers, and the establishment of the free trade agreement (FTA). Despite the expansion of the trade market, however, extreme events such as the 2008 global financial crisis, the 2016 Brexit, and the 2018 US-China trade war have had a direct negative impact on the trade market. Therefore, the present this study analyzed the dependence structure between the international shipping freight rate index, a variable representing trade activities, and the trade uncertainty between the US and China. The following is a summary of the analysis results. First, the US-Chinese trade policy uncertainty and international shipping freight rate index presented a Frank copula and rotated Clayton copula 270° distribution, respectively, showing the same distribution structure for each country. Second, the Kendall's tau correlation revealed a negative dependence between the international shipping freight rate index and US-Chinese trade policy uncertainty. The degree of dependence was greater in the combination of uncertainty in China's trade policy and international shipping freight rates. In other words, the dependence of global demand and trade policy uncertainty confirmed that China was stronger than the US. Finally, the tail dependence results revealed that the US-Chinese trade policy uncertainty and international shipping freight rates were independent of each other. This means that extreme events related to the trade policy uncertainty or international shipping rate index were not affected by each other.

• Journal of Technology Innovation
• /
• v.19 no.3
• /
• pp.85-114
• /
• 2011

This paper aims at developing a new index that represents the Korean new growth industries, which is named the Korea Future Technology Index(KOFTI). The KOFTI is designed to provide a reliable and econometric index based on which the Korean government searches for new growth engines. The KOFTI is composed of three individual indexes such as the Economic Impact Index, the Future Strategy Index, and the Technological Influence Index. The KOFTI is applied for 62 star brands, which have been promoted by the Korean government for the korean future industrial competitiveness. The top 13 leading industries are drawn from the calculation of the KOFTI for 62 star brands.

• Journal of the Korean Data and Information Science Society
• /
• v.26 no.6
• /
• pp.1335-1351
• /
• 2015

In order to effectively understand the perception of businesses and consumers, the Bank of Korea has released Economic Sentiment Index (ESI), a composite indicator of business survey index (BSI) and consumer survey index (CSI), since 2102. The usefulness of ESI has been widely recognized. However, there exists a margin for improvement in terms of its predictive power. In this study, we evaluated the usefulness of ESI and improved the ESI by complementing its defaults. Our results of empirical analysis proved that dynamic optimal weight navigation process using the sliding window method is very useful in determining the optimal weights of configurations item of ESI based on economic situation.

• Journal of the Economic Geographical Society of Korea
• /
• v.17 no.1
• /
• pp.129-146
• /
• 2014

This paper investigates how industrial diversity affects unemployment and employment instability from the perspective of the regional economy. Through this analysis, we examine how the industry-specific policy to promote some industry strategically in most of areas affects the stability of the regional economy. We measure Herfindahl indexes using the 1993-2010 data of 16 regions in Korea, and use panel regression model for empirical analysis. The main results from this empirical analysis are summarized as follows. First, we confirm that the industrial structure of most regions has been changed to the direction of specialization in 1990s and to the direction of diversification in 2000s through analyzing the changes in the values of Herfindahl indexes during the given period. Second, we find from the estimation results of panel regression model that the higher industrial diversity in most of regions is, the lower the unemployment rate is. However, a statistically significant relationship between industrial diversity and employment instability only partially confirmed. Third, there exist high unemployment rate and employment instability in most metropolitan areas, but it is hard to say that this relationship is highly statistically significant. From the results of the empirical analysis, it is likely that the industry-specific policies such as the regional strategic industry development policies unlike policy goals make the unemployment rate to rise and economic instability to increase. From the viewpoint of employment aspects, the strategies to increase industrial diversity would be desirable rather than those to specialize in the industrial structure.

• Culinary science and hospitality research
• /
• v.22 no.3
• /
• pp.212-223
• /
• 2016

The purpose of this study is to verify information spillover effects using returns of macroeconomic variables and hotel leisure stock index daily data from January 4, 2000 to December 30, 2015. The findings and implications of the research can be summarized as follows. First, based on time-varying AR(1)-GARCH(1,1) models no evidence of statistically significant conditional mean and volatility spillover effects from returns of macroeconomic variables on the hotel leisure stock index was observed. In addition, no evidence of price volatility spillover from macroeconomic variables on the hotel leisure market was observed. Second, it was discovered that there exists a significantly negative relationship between the return of ER and hotel leisure stock prices, but a positive relationship between the KOSPI and hotel leisure stock prices. Finally, the study also found that was a significantly positive relationship between the volatility of DUB and hotel leisure market, and an adversely negative relationship between the volatility of ER and hotel leisure market. The results of this study are expected to contribute by providing useful information for investment strategies, as well as for risk management for investors and managers.

• The Korean Journal of Financial Management
• /
• v.11 no.1
• /
• pp.97-122
• /
• 1994

시장균형상태(市場均衡狀態)의 조건(條件)하에서 주식의 기대수익률을 설명할 수 있는 가격결정(價格決定) 요인(要因)이 무엇을 의미하는가를 규명하는 일은 증권시장을 설명하기 위한 중요한 과제이다. 본 논문의 연구 목적은 재정가격결정모형(栽定價格決定模型)을 적용하여 주식수익률에 대한 요인(要因)을 분석(分析)하고, 최적 포트폴리오 구성 주식수와 유의적인 가격결정 요인 및 이들이 설명하는 경제적(經濟的) 의미(意味)를 찾는데 있다. 특히 ML방식의 요인분석 과정에서 헤이우드 상황(狀況)(Heywood case)을 확인하고 정밀한 요인(要因)의 추정을 위하여 이를 제거하였으며, 헤이우드 상황(狀況)이 미치는 영향을 분석하였다. 실증분석(實證分析) 결과(結果) 요인분석에서 최적 포트폴리오 구성 주식수는 35개이며, 이때의 가격결정(價格決定) 요인수(要因數)는 $2{\sim}3$개 정도이다. 그리고 주식의 가격결정요인으로 일관성 있게 설명하는 경제변수(經濟變數)로는 종합주가지수, 산업생산성지수, 실업률지수, 기업소규모지수 등이다. 그리고 Heywood case 발생 표본은 균형모형 설정에 교란요인이 됨을 검증하였다.

• Journal of Labour Economics
• /
• v.37 no.1
• /
• pp.87-116
• /
• 2014

Forecasting of short-term employment fluctuations provides a useful tool for policy makers in risk managing the labor market. Following the process of producing the composite leading indicator for macro economy, the paper develops the employment leading indicator(ELI) for the purpose of short-term forecasting non-farm payroll employment in private sectors. ELI focuses on early detecting the point of time and the speed in phase change of employment level.