• The Journal of the Korea Contents Association
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• v.17 no.10
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• pp.598-615
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• 2017

This paper compares the sources of the changes in the production of manufacturing industry between Korea and Japan during year 2000 ~year 2011 by I-O SDA. The results show that the first source of the increase in the production of Manufacturing industry in Korea is export, while in Japan the technological change. However, the contribution of technological change is relatively small in Korea and moreover decreasing. Meanwhile, the domestic final demand is the second source of the increase in the production of Korean manufacturing industry, but it was the first source of the decrease in the production of Japanese counterpart. On the other hand, the decrease in import substitution for both the intermediate and domestic final goods is significantly contributed to the decrease in the production of both Korean and Japanese manufacturing industry. Conclusively, these results confirm that the growth of Korean manufacturing industry has heavily depended on export. Then, considering the current global economic environment that is rapidly becoming more uncertain as well as volatile, the results imply that the heavy export dependence may become a key hurdle for the solid sustained growth of Korean manufacturing industry, so that policy ensuring more evenly balanced growth contribution from all growth sources is necessary. In particular, policy to promote technological change and import substitution is required with greater weight.

• International Commerce and Information Review
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• v.15 no.3
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• pp.263-287
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• 2013

This study aims to analyse whether outward foreign direct investment(FDI) by Korean manufacturers has a positive or negative effect on the nation's exports and imports. It provides a comprehensive analysis using both micro and macro approaches to overcome the limitations of the previous studies. In its micro-analysis, this study analyzed the impact of the outstanding outward FDI stock and other related factors on net export/import creation using panel data of 589 overseas affiliates of Korean manufacturers during the period of 2006 to 2011. And in the macro-analysis, the study analyzed the impact of outward FDI on exports using panel data of 23 manufacturing sectors during the period of 2000 to 2011. As a result of empirical study, contrary to the results of most previous studies, Korea's export can be negatively affected when it's manufacturing companies increase their outward FDI and localize their overseas businesses.

• Journal of the Korean Society for Railway
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• v.11 no.4
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• pp.424-432
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• 2008

This paper presents theoretical explanations about the spill-over effects of domestic production of light rail transit and empirically investigates its effects on output, value-added and employment in the Korean economy. We distinguish net gains of domestic production from gross effects that bring about whether localized or imported cars are used. The input-output analysis is employed to fully capture the interaction among various industries involved. The empirical results reveal that net gains of domestic production such as import substitution, improvement of trade balances, and increase in output, value-added and employment are enormous. The cost reduction in construction, E&M systems, cars, management, and tariff and transportation is also significant.

• Journal of Energy Engineering
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• v.21 no.2
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• pp.158-167
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• 2012

The purpose of this paper is to examine the factors that encouraged the industrial growth of Koran city gas industry during 1995-2009, by carrying out input-output structural decomposition analysis(IO-SDA) using Syrquin's model. The results show that the main factors which contributed to the growth of the Korean city gas industry are final domestic demand(48.4%) and technological change(38.6%). By examining the results for the three periods of 1995-2000, 2000-2005, and 2005-2009, the tendency of changes between the two main factors is drawn. In contrast to the drastic decreasing tendency of the final domestic demand's contribution to the growth, 84.5%, 18.9%, and 15.4%, respectively for each period, there is an increasing tendency for technological change as seen by the results of 7.4%, 70.0%, and 42.2%, respectively. These findings may be a result from the fact that the rate of gas supply in the residential sector has been saturated recently. They are also reflective of the energy consumption trend of industrial activities as there has been a shift in the approach for supplying energy, from the traditional approach which use fossil fuels to the newer approach which uses environmentally friendly energy sources. For the continued growth of the city gas industry, policymakers sould consider greater investment in the expansion of city gas supply infrastructure for industrial activities rather than for the residential sector.

• KDI Journal of Economic Policy
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• v.19 no.3
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• pp.195-246
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• 1997

우리나라에서 전기요금은 공공요금으로서 정부의 정책의지에 의하여 크게 영향을 받아왔다. 또한 전기요금수준 조정시 규제당국의 주된 관심은 요금인상이 국민경제에 미치는 영향, 특히 물가 및 무역수지에 미치는 영향에 있었다고 할 수 있다. 이러한 상황에서 전기요금변동의 국민경제적 영향에 대한 신뢰할 수 있는 분석결과는 올바른 정책수립에 필수적이라고 할 수 있다. 본고는 계산가능한 일반균형모형(Computable General Equilibrium model)을 이용하여 1993년도의 산업연관표를 토대로 전기요금의 인상이 물가, 수출입 등 거시변수에 미치는 효과 및 산업부문별 효과를 살펴본 것이다. 전기요금인상이 물가에 미치는 영향은 간단히 '전기요금인상률${\times}$물가가중치'라는 공식으로 계산해볼 수 있다. 이에 따르면 전기의 소비자물가 가중치가 14/1,000이므로 전기요금인상률이 4%일 때 소비자물가상승률은 약 0.056%가 된다. 그러나 전기가 타산업의 중간투입물로 사용되므로 전기요금인상은 타산업 산출물의 가격상승을 유발하고 다시 투입-산출관계에 의하여 추가적인 물가상승을 불러일으키게 된다. 이러한 일반균형적 효과를 모두 고려하여, 본 연구에서 계산한 소비자물가상승률은 0.083%로서 위 수치의 약 1.5배이다. 또한 본고에서는 전기요금인상에 따라 수출과 수입 모두 감소하되, 수출감소율이 수입감소율보다 크게 나타났다. 이러한 결과는 전기요금인상에 따라 전기수요가 감소하여 에너지수입이 감소하고, 그로 인해 무역수지가 개선되리라는 일부의 주장과는 매우 대조적이다. 산업별로는 전기요금인상에 따라 서비스업의 가격상승이 두드러지는 것으로 나타났는데, 이는 서비스업부문의 국내재와 수입재간의 대체가능성이 타부문에 비하여 크게 낮은 데 기인한 것으로 보인다. 본고의 결과를 전기요금이 인상되어서는 안 된다고 해석하는 것은 오류일 수 있다. 전기요금인상의 타당성은 전력산업에 대한 종합적인 미시적 분석에 기초하여야 한다.

• Korea Trade Review
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• v.48 no.4
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• pp.93-119
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• 2023

This study analyzes the impact of global value chain (GVC) participation on inflation in South Korea and China using OLS regression analysis. It compares the results before and after the global financial crisis. The findings are as follows: Firstly, the GVC participation of both South Korea and China negatively affects their inflation rates. When analyzing the GVC participation separately for forward and backward participation, it was observed that the forward participation of both countries negatively influences inflation. However, the backward participation of South Korea and China positively impacts inflation. Secondly, after the global financial crisis, there were differences in the analysis results for South Korea and China. The influence of GVC participation on inflation was not statistically significant for both countries. However, when analyzing the impact of forward and backward participation separately, China showed mostly insignificant effects on most inflation indicators. In contrast, South Korea's forward and backward participation seemed to have an expanding effect on inflation. This may be attributed to China's attempt to shift external demand to domestic demand and replace imported intermediate goods with domestic products, leading to a reduction in the impact of GVC participation. On the other hand, South Korea continued to show a relatively low decrease in GVC participation after the global financial crisis, indicating that the impact on inflation remains significant.