• Environmental and Resource Economics Review
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• v.28 no.4
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• pp.497-526
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• 2019

The importance of "decoupling" to maintain economic growth and reduce greenhouse gases is emerging as the world has been mandated to reduce greenhouse gases since the 2015 Paris Agreement. This study covered 63 countries from 1980 to 2014 and analyzed the main characteristics and causes of decoupling phenomenon between economic growth and carbon emissions. In this study, the degree of decoupling was measured every five years. The analysis found that the decoupling rate of OECD countries and countries with large incomes was high, and that the decoupling phenomenon has accelerated worldwide since the 2000s. However, the degree of decoupling was different depending on the national characteristics. According to the results of dynamic panel model, the growth rate of manufacturing and the proportion of exports hampered decoupling, while the proportion of human capital and renewable energy had a positive effect on decoupling. Also income had a inverse U-shape non-linear effect on decoupling.

• Environmental and Resource Economics Review
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• v.29 no.3
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• pp.389-418
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• 2020

Some OECD countries are showing signs of decoupling in the transportation sector. In terms of sustainable development, the decoupling of economic activities and greenhouse gas emissions in the transportation sector is very important. This study calculated a decoupling index of greenhouse gas emissions in the transportation sector for 25 OECD countries. Also this study analyzed the impact of energy transition on decoupling regimes. According to the analysis, a considerable number of countries have reached the decoupling phase, and some countries have shown strong decoupling regime in which greenhouse gas emissions are reduced despite economic growth. From ordered panel logit analysis, energy transition had significant impact on achieving decoupling phase. Electrification of transport had a positive effect on the decoupling, while the gasification was not significant. In addition, small traffic, high urbanization rates, strong environmental policies, and high trade opening have had significant effects on achieving decoupling.

• Environmental and Resource Economics Review
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• v.31 no.1
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• pp.113-139
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• 2022

The iron and steel industry is a manufacturing industry with the largest greenhouse gases emissions and has a great ripple effect on the national economy as a core material industry. This study internationally compared the decoupling patterns of greenhouse gases emissions in the iron and steel industry from 1990 to 2019, focusing on Korea, Japan, and Germany. In particular, unlike previous studies that considered only fuel combustion emissions, this study considered all fuel combustion emissions, industrial process emissions, and indirect emissions from the use of electricity and heat. As a result of the analysis, Korea is interpreted as expansive coupling, Japan as decoupling, and Germany as unclear. Therefore, the decoupling path that the Korean iron and steel industry should take should not be in Germany, but in the form of seeking a decoupling method similar to Japan or more effective than Japan. In addition, this study considered the characteristics of the iron and steel industry as much as possible and presented the causes of the decoupling analysis results and implications for the Korean iron and steel industry through comparison with Japan and Germany. In particular, four factors were suggested as factors which has promoted decoupling in Japan: high value-added of Japanese iron and steel products, development of energy efficiency technology in the Japanese iron and steel industry, strategic M&A of the Japanese iron and steel industry, and maintaining competitiveness according to the closed distribution structure of Japanese iron and steel products. The Korean iron and steel industry should also use the case of Japan as a benchmark to further increase added value through quality uprade and product diversification of iron and steel products, while at the same time making efforts to fundamentally reduce greenhouse gas emissions through the development of new technologies.

• Resources Recycling
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• v.29 no.3
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• pp.24-35
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• 2020

Management of resource productivity is important for the reduction of natural resources and energy consumption. This is closely linked to circular economy which has recently been stressed worldwidely. Resource productivity is a key indicator which is to be managed in various industry sectors. Especially Korea which is heavily dependent on the natural resources import from overseas needs to give attention to this point. Nevertheless resource productivity related domestic researches and policies are extremely rare. This paper thus presents trends on resources productivities and their management policies of European countries and OECD G7 countries compared to the situation of Korea. In addition, the decoupling phenomenon of DMC (domestic material consumption) and GDP of Europe is analyzed and the resource productivity promotion strategy of Korea is proposed.

• Environmental and Resource Economics Review
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• v.30 no.2
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• pp.269-297
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• 2021

Bioplastics are attracting attention as a substitute for conventional petroleum-based plastics because they are carbon neutral and can be biodegradable. This study estimated economic and environmental impact of regulating the petroleum-based plastics industry and fostering the bioplastics industry using a Recursive Dynamic CGE Model of the Korean Economy. Results show that the regulation of the conventional plastics industry exhibits a positive environmental impact by reducing greenhouse gases and plastic waste and a negative economic impact with a decrease in GDP. Meanwhile, fostering the bioplastics industry with regulation on conventional plastics industry has similar levels of greenhouse gas and waste reduction effects when there is only regulation on the conventional plastics industry. It is also shown that expanding the production of bioplastics industry offsets existing economic losses as a form of increased GDP. If petroleum-based plastics are replaced through the expansion of bioplastics production, it can contribute to the decoupling of greenhouse gas emissions and plastic waste from economic growth.

• Journal of the Economic Geographical Society of Korea
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• v.27 no.1
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• pp.53-73
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• 2024

While global production supply chains are expected to shift toward friendly or allied countries, pandemic-shoring such as nearshoring and friendshoring, due to increased protectionism and the reorganization of regional value chains in the wake of the global pandemic, the study found that economic rather than political factors are still at play in consumer supply chains. In the case of Chinese e-commerce market (C-commerce), the study attributes the rapid growth of the market to (1) related regulatory relaxations introduced to stimulate consumption after the end of COVID-19, (2) an increasing pattern of wanting to consume more for a limited income and (3) unconventional business activities to increase their share of the global consumption market. Through these phenomena, the production-consumption network is likely to develop into a more fragmented form, and the consumption network in particular is expected to become more fragmented, influenced by the digital technology war, a phenomenon of re-globalization.

• Electronics and Telecommunications Trends
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• v.28 no.6
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• pp.49-62
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• 2013

광-회선-패킷 통합 전달망 장비는 광전송망, 회선 망, 패킷 전달망 계층을 하나로 통합한 장비로써, 패킷-회선 교환 전달, ROADM(Reconfigurable Optical Add/Drop Multiplexer) 광파장 교환 전달, GMPLS(Generalized Multi-Protocol Label Switching) 기반 통합제어 및 관리기능을 수행하면서 네트워크 구조의 단순화, 네트워크 제어의 지능화, 그리고 네트워크 용량의 광대역화를 구현한다. 트래픽 폭증과 전송용량 부족 현상을 해결하고, 트래픽 증가 대비 수익의 탈동조화 현상을 극복하기 위해 네트워크 CAPEX(Capital Expenditures)/OPEX(Operating Expenditures)를 절감함으로써 통신사업자의 투자 여건을 우호적으로 조성하면서 최근 주목 받고 있는 기술이다. 본고에서는 광-회선-패킷 통합 전달망의 기술동향을 기술한 것으로써, 배경, 필요성 및 개념 개발동향 및 경쟁기술에 대해서 살펴보고, 기술발전 로드랩 및 주요 기술 동향과 시장 및 사업화 전망에 대해서 분석한다.

• Asia-Pacific Journal of Business
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• v.14 no.4
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• pp.305-318
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• 2023

Purpose - This study analyzed the decoupling phenomenon between energy consumption and economic growth in Korea from 1990 to 2021. The main purpose of this study is to suggest policy implications for achieving a low-carbon society and decoupling that Korea must move forward in the face of the climate change crisis. Design/methodology/approach - This study investigated the relationship between energy consumption and economic growth by energy source and sector using the energy-EKC (EEKC) hypothesis which included the energy consumption on the traditional Environmental Kuznets Curve (EKC), and the impulse response function (IRF) model based on Bayesian vector auto-regression (BVAR). Findings - During the analysis period, the trend of decoupling of energy consumption and economic growth in Korea is confirmed starting from 1996. However, the decoupling tendency appeared differently depending on the differences in energy consumption by sources and fields. The results of the IRF model using data on energy consumption by source showed that the impact of GDP and renewable energy consumption resulted in an increase in energy consumption of bio and waste, but a decrease in energy consumption by sources, and the impact of trade dependence was found to increase the consumption of petroleum products. Research implications or Originality - According to the main results, efficient distribution by existing energy source is required through expansion of development of not only renewable energy but also alternative energy. Additionally, in order to increase the effectiveness of existing energy policies to achieve carbon neutrality, more detailed strategies by source and sector of energy consumption are needed.

• Management & Information Systems Review
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• v.39 no.2
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• pp.17-37
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• 2020

The purpose of this study is to investigate the global spillover effects through the existence of linear and nonlinear causal relationships between the US, European and BRIC financial markets after the period from the introduction of the Euro, the financial crisis and the subsequent EU debt crisis in 2007~2010. Although the global spillover effects of the financial crisis are well described, the nature of the volatility effects and the spread mechanisms between the US, Europe and BRIC stock markets have not been systematically examined. A stepwise filtering methodology was introduced to investigate the dynamic linear and nonlinear causality, which included a vector autoregressive regression model and a multivariate GARCH model. The sample in this paper includes the post-Euro period, and also includes the financial crisis and the Eurozone financial and sovereign crisis. The empirical results can have many implications for the efficiency of the BRIC stock market. These results not only affect the predictability of this market, but can also be useful in future research to quantify the process of financial integration in the market. The interdependence between the United States, Europe and the BRIC can reveal significant implications for financial market regulation, hedging and trading strategies. And the findings show that the BRIC has been integrated internationally since the sub-prime and financial crisis erupted in the United States, and the spillover effects have become more specific and remarkable. Furthermore, there is no consistent evidence supporting the decoupling phenomenon. Some nonlinear causality persists even after filtering during the investigation period. Although the tail distribution dependence and higher moments may be significant factors for the remaining interdependencies, this can be largely explained by the simple volatility spillover effects in nonlinear causality.

• Journal of Intelligence and Information Systems
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• v.21 no.3
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• pp.117-129
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• 2015

As the Internet becomes ubiquitous, a large volume of information is posted on the Internet with exponential growth every day. Accordingly, it is not unusual that investors in stock markets gather and compile firm-specific or market-wide information through online searches. Importantly, it becomes easier for investors to acquire value-relevant information for their investment decision with the help of powerful search tools on the Internet. Our study examines whether or not the Internet helps investors assess a firm's value better by using firm-level data over long periods spanning from January 2004 to December 2013. To this end, we construct weekly-based search volume for information technology (IT) services firms on the Internet. We limit our focus to IT firms since they are often equipped with intangible assets and relatively less recognized to the public which makes them hard-to measure. To obtain the information on those firms, investors are more likely to consult the Internet and use the information to appreciate the firms more accurately and eventually improve their investment decisions. Prior studies have shown that changes in search volumes can reflect the various aspects of the complex human behaviors and forecast near-term values of economic indicators, including automobile sales, unemployment claims, and etc. Moreover, search volume of firm names or stock ticker symbols has been used as a direct proxy of individual investors' attention in financial markets since, different from indirect measures such as turnover and extreme returns, they can reveal and quantify the interest of investors in an objective way. Following this line of research, this study aims to gauge whether the information retrieved from the Internet is value relevant in assessing a firm. We also use search volume for analysis but, distinguished from prior studies, explore its impact on return comovements with market returns. Given that a firm's returns tend to comove with market returns excessively when investors are less informed about the firm, we empirically test the value of information by examining the association between Internet searches and the extent to which a firm's returns comove. Our results show that Internet searches are negatively associated with return comovements as expected. When sample is split by the size of firms, the impact of Internet searches on return comovements is shown to be greater for large firms than small ones. Interestingly, we find a greater impact of Internet searches on return comovements for years from 2009 to 2013 than earlier years possibly due to more aggressive and informative exploit of Internet searches in obtaining financial information. We also complement our analyses by examining the association between return volatility and Internet search volumes. If Internet searches capture investors' attention associated with a change in firm-specific fundamentals such as new product releases, stock splits and so on, a firm's return volatility is likely to increase while search results can provide value-relevant information to investors. Our results suggest that in general, an increase in the volume of Internet searches is not positively associated with return volatility. However, we find a positive association between Internet searches and return volatility when the sample is limited to larger firms. A stronger result from larger firms implies that investors still pay less attention to the information obtained from Internet searches for small firms while the information is value relevant in assessing stock values. However, we do find any systematic differences in the magnitude of Internet searches impact on return volatility by time periods. Taken together, our results shed new light on the value of information searched from the Internet in assessing stock values. Given the informational role of the Internet in stock markets, we believe the results would guide investors to exploit Internet search tools to be better informed, as a result improving their investment decisions.