• Industry Promotion Research
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• v.9 no.1
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• pp.81-87
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• 2024

This research aims to empirically investigate the innovative effects of 2012 Cosmetics Act amendment on the cosmetics industry. By utilizing production data from the Korea Food and Drug Administration for the period 2008-2014 and estimating a panel fixed-effects model, the study demonstrates a significant positive correlation between the legislative revision and firm production. Additionally, it is observed that both the number of brands and new products per manufacturer significantly increased following the amendment. Further, this study shows a significant positive correlation between the amendment and the potential market size, with the potential market size positively correlated with innovation. The findings of this study highlight that government regulatory improvements can positively impact industrial innovation and promotion.

• Journal of Labour Economics
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• v.30 no.1
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• pp.1-30
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• 2007

Using the Korean Labor and Income Panel Study 2001 (KLIPS 2001), this paper examines gender differences in the return to education in Korea. On average, there is little difference in return to education between male and female workers. However, this paper provides evidence that the impact of education on wages is greater for female workers compared to that for male workers using three different estimation strategies. First, a simple cohort analysis shows that the estimated returns to education for male and female workers have different patterns by age cohort and this is the main reason we observe little gap in average returns to education between men and women. Second, we find that college degree has a significant impact on women's labor market outcomes, while there is little gain for men in terms of wage levels by having college degree. Finally, when controlling unobservable individual ability level with test scores, education has no significant impact on male workers' wage levels, while the impact of education on wages is considerably large for female workers. All three findings support that the impact of education on labor market outcomes is greater for female workers compared to that for male workers as many researchers have found in other OECD countries.

• Environmental and Resource Economics Review
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• v.30 no.4
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• pp.557-579
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• 2021

Collective energy is an intermediate stage in energy conversion and has a great influence on the power structure as a distributed power source. However, the problem of the collective energy business has recently emerged due to the worsening profitability of some collective energy operators. This study measured the technical efficiency of major operators through the estimation of the production efficiency of Korean collective energy operators, and based on this, we looked at ways to improve the profit structure of operators. After collecting detailed data from 16 collective energy operators between 2016 and 2019, the production efficiency of operators was estimated using the panel stochastic frontier model. As a result of the estimation, combined steam power operators showed the highest production efficiency and reverse CHP operators showed the lowest efficiency. Furthermore, as a result of examining the factors influencing profitability, it was confirmed that production efficiency has a positive effect on overall profitability. However, businesses with a high proportion of heat production, such as small district electricity operators, profitability was lower. This phenomenon is due to the structural limitations of the current heat sales market. Hence, the adjustment of the heat sales unit price is necessary to improve profitability of collective energy operators.

• International Area Studies Review
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• v.15 no.1
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• pp.241-266
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• 2011

This study examines the determinants of proportion of self-employed and their policy implications focusing hotel/restaurant and wholesale/retail sectors in Korea. In this study, we estimate the optimal size of self-employed in Korea using OECD data. Several hypothesis are tested by use of the regression analysis on the panel data of OECD economies during 2000-2007 period. Using the panel data of per capita GNI, unemployment level, income tax burden, we found that the excess supply level of self-employed was about 8.0%~9.5% overall. We also found that the excess supply level of self-employed was 13.7~14.1% for hotel and restaurant sector, and 10.4~11.1% for wholesale and retail sector. This results imply that strategically coordinated programs for noncompetitive sectors are more effectively implemented. Furthermore, more aggressive entry and exit policies are needed to solve the over-supply problem of self-employed in Korea.

• Journal of Labour Economics
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• v.41 no.3
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• pp.1-59
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• 2018

The Earned Income Tax Credit (EITC) is a policy that supports low-income households financially as well as provides an economic incentive to participate in the labor market. Thus, estimating the causal effect of the policy on the labor force participation rate of low-income households is critical for the policy evaluation. In this paper, we exploit the variation in the eligibility to the EITC and the size of the benefit over several reforms of the EITC in South Korea since 2008 and estimate the impact on the participation in the labor market. Using data from four major household surveys, we find that the results are mixed; in some samples and specifications, we find that the effect is positive and statistically significant, while it is insignificant in others. The estimated effect is more likely to be positive and significant when we restrict the sample to the period before 2014. It is an important topic of future research whether the EITC's effect gets weaker because it is extended to cover the self-employed and beneficiaries of the National Basic Livelihood Security.

• Journal of Korean Society of Transportation
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• v.29 no.5
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• pp.19-32
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• 2011

There are many investment budget drafts in the filed of a road traffic safety. The traffic safety budget is spitted into following three major areas: 1) traffic safety facility (Engineering), 2) traffic enforcement (Enforcement), and 3) traffic safety education & public relation (Education). The three area are known as so-called 3E policy. This study investigates the effect of the investment in the 3E policy on the reduction of traffic accidents analyzing the data annually collected from the 15 local governments during 1992 to 2007. The analysis employing the traffic accidents as the dependent variable reveals that the effect of the investment is higher if same amount of investment is made on areas of the traffic safety education and public relation than the area of facility improvement. The similar conclusions are resulted from the separate investigation of traffic accidents data by 6 different types. All the results consistently indicate that the current traffic safety investment being primarily made on traffic safety facility needs to shift to the areas of traffic safety education and public relation budget.

• Journal of Korean Society of Transportation
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• v.36 no.2
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• pp.141-154
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• 2018

In order to meet the ever-increasing demand for international air travel, several plans are underway to open new airports and expand existing provincial airports. However, existing air demand forecasts have been based on the total air demand in Korea or the air demand among major cities. There is not much forecast of regional air demand considering local characteristics. In this study, the outbound air travel demand in the southeastern region of Korea was analyzed and the fixed-effects model using panel data was proposed as an optimal model that can reflect the inherent characteristics of metropolitan areas which are difficult to observe in reality. The results of model validation show that panel data analysis effectively addresses the spurious regression and unobserved heterogeneity that are difficult to handle in a model using only a few macroeconomic indicators with time series characteristics. Various statistical validation and conformance tests suggest that the fixed-effects model proposed in this study is superior to other econometric models in predicting demand for international demand in the southeastern region.

• The Journal of the Korea Contents Association
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• v.16 no.12
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• pp.480-491
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• 2016

This study aims to determine the factors associated with preparation for turnover in youth employees, using a data from the Youth Panel 2007-2013. Study population were composed by 17,037 employees and a generalized estimating equations (GEE) using panel logit model was performed. It was identified that socioeconomic(age, sex, level of education, monthly income and type of employment) and work-related factors(perception of difficulties in performing tasks compared to level of education, perception on the Job-Major match, stabilization of employment, autonomy and empowerment of jobs, peer relationship in workplace) were statistically significant variables. Based on the analysis, dissatisfaction on working environment or condition might lead to employees prepare to turnover and it is a series of activities that to improve welfare and find a suitable job for oneself.

• Journal of Korea Water Resources Association
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• v.44 no.1
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• pp.1-8
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• 2011

This paper addresses the correlation between the flood damage cost and recovery cost. National data (15 regions) for 20 years, panel data, has been analyzed for this test. Model specification of panel data analysis depends on the characteristics of data set and "fixed" or "random" effects model can be used. The results are represented in both models. As we expected all independent variables show positive relationship with recovery cost, except for the number of death and suffers. The damage of public facilities, such as rivers and road are the major factors on the damage and recovery cost, which means that flood damage can not be decreased without decreasing damages of public facilities from floods. Especially, the recovery cost is always higher than the damage cost and investment for flood control. Unlikely, government investment for flood control is the highest and recovery cost is the always lower than da mage cost andinvestment in Japan. Which means that proper investment can reduce economic damage cost of flood and recovery cost.

• International Area Studies Review
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• v.13 no.3
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• pp.73-91
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• 2009

In this paper, we attempt to study the trend of regional disparity among Chinese provinces and examine the effects of globalization on the disparities adapting panel data approach. The panel data set utilized consists of the annual variables of 29 provinces during 18 years from 1990 to 2007. The trend of inter-provincial disparities in the 1990s with the expansive trend but the trend has started to decrease since 2000. The results of the China case study show clearly that the provincial international trade level and ratio variables perform on regional income disparities remarkably in all cases. It means that the large development of international trade do with increased among provincial disparity. While due to the large area in the provinces, there exist urban-rural disparities within provinces could be one of the main source of regional disparities. Therefore, along with western regions development policy various development policies against small cities are necessary for balanced regional economic growth in China.