• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.191-212
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• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.1
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• pp.109-131
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• 2007

The purpose of this study were to a) clarify the current practice of internal marketing by contracted food service management companies, b) analyze the effectiveness of current internal marketing practices. The survey was conducted between October 12 and November 2, 2002 with the 10 contracted food service management companies; 6 large, and 4 small & medium sized companies. No significant difference was existed with the categories of internal marketing. However significant differences were existed with the service education, sanitary education, periodic interviews, rewards for best employees, incentive payments, paid -leave allowances, job function allowances, and position classes including unit manager, dietician and cook of MBO. The actual administration of internal marketing strategies showed that, the significant differences were existed with education, paid-leave, and employee welfare systems among position classes. Also the significant differences were existed with all categories of internal marketing between large and small & medium sized companies. In general, small & medium sized companies score of the internal marketing performance was lower than that of large sized companies. Therefore, the segmented internal marketing strategies depending on the analysis not only demand for employees but also the size of company, were required to be an effectively and efficiently managed contracted food management companies.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.30 no.10B
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• pp.669-675
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• 2005

In the mobile telecommunication industry, the effects of handset subsidies are revealed as two aspects. There are the activation of service and handset market and the acceleration of related technology development in the desirable aspect. On the other hand, the rise in service rates and the squandering of the related resources in the undesirable one. There have been a lot of researches that disclose the desirable or undesirable factors through the qualitative methods. However, the quantitative studies are rare. In this study, we consider the positive, from the increase of demand, and negative, from the increase of service rates, effects on consumers' benefit attendant handset subsidies. Then, we quantitatively compared between the positive and negative effects and analyze the direct effects of consumers' benefit of handset subsidies, and figured out that the direct effect is not expected to be positive.

• Korean Security Journal
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• no.12
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• pp.149-175
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• 2006

The purpose of this study is to understand and analyze the character of Islamic fundamentalism and Middle-Ease Terrorism. The aim of Islamic fundamentalism is reconstruction of Ummah(Muslim Unity), thee early society of Muhammad's age. Islamic movement insist to restore the spirit of Islam and purify the society of Islam from the United State and Western world. Now, Islamic fundamentalism movement as a new ideology, appeals to muslim in the world. The concept of modern national state from the Western countries do not accord with the traditional Islamic principles of reign and a spirit of nationalism. On the other hand, Islamic movement have no legitimacy in the system of modern state which govern the Arab world, regardless of the form of government. For this reasons, Islamic fundamentalist have an insecure position and their political activities. It is yet far from their purpose, to reconstruct the muslim unity, to realize the Islamic political principle close to their practical methods. Yet Islamic fundamental movement have not overcome the system of secular state. The Middle East terrorism supported by government might be eradicated by America's anti-terrorism policy. However, it will be serious and spread all over the world that the terrorist attack against the U. S. and western countries is acted by militant warriors of Islamic fundamentalism, uniting Arab and Islamic people's emotions against America and western countries. There are some reasons that we need to focus on the Arab and Islamic fundamentalism. We need to get out of misunderstanding and discrimination about Islamic religion and culture from America's and Western' standard Which are only their new world order. The discrimination of America and western nations against muslim could make other ideologies, opposite to the world peace. There are a lot of foreign workers from Islam countries in Korea. We need to give consideration and attention to them for the our globalization and world peace. It is time to consider what to do for the nation's profit(economical, political, strategic)with right understanding. We are not safe and free from the terrorism yet.

• Korean Security Journal
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• no.12
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• pp.225-243
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• 2006

This study is focused on the relation in the motive and the evaluation for the job in a special private security field. The supplement of the outstanding human resources is one of most important matter to improve the private security industry. For it the applicant's motive and evaluation of whose quality should be screened to recruit proper and oustanding human resources into the industry. For the study the follow elements would be considered. First, What is the real motive to apply the job and how prospect on the job the applicant will be taken. Second, what is different point of view to the job between male and female. Third, what relationship is in achieving the job performance between the temporary motive and the planed motive. Forth, what effects are on the job satisfaction and the planed motive for the job. With the above elements the survey was taken based on each sex for the study and the results are out as below. a) Male is in higher than female in taking with unplaned job motive and for job satisfaction is much higher in 1-20 age range. b) In general, the expectation on the job is much higher than the current job status, the male are in the expextation on the job and the female are in the the current job status. c) The job satisfaction is on positive effect to the planed taken job but the unplaned taken job is on negative. From the Research the most concerning element on the recruiting new employee is applicant's positive attitude on the job he/she will be taken.

• International Area Studies Review
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• v.14 no.1
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• pp.203-219
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• 2010

Nowadays an instability of the exchange rate on accounts of global finance crisis brings on a lot of an economic damage such as recession, decreasing of total trade and so on. However some countries which belong to be membership of the eurozone could escape economic slump shortly and easier than others. The reason for this is that they share with the Euro as a their own currency which is the second vehicle currency all of the world. This paper analyzes the correlation of joining the Euro zone and trade with pooled OLS, random effect estimation, and fixed effect estimation. A membership of the Euro zone are able to increase trade 11.3% ~ 25.3% one another on average since some country belongs to the Euro zone. It is very important for some countries which have a plan to affiliate the Euro zone sooner or later to realize economic effect because of a protection of the Euro zone as well as political power.

• Environmental and Resource Economics Review
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• v.6 no.2
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• pp.275-303
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• 1997

최근 각국은 자국의 해양자원을 보존한다는 명분으로 EEZ선포를 서두르고 있다. 한반도 주변과 같이 서로 인접한 수역에서의 EEZ설정은 필연적으로 각국의 이해관계가 상충될 수밖에 없고 따라서 이의 해결을 위해 인접국들은 합의에 의해 공동어로수역을 설정하고 이를 공동을 관할하려 할 것이다. 이 논문은 각국이 공동어로 수역을 설정하여 접속수역에 대해 인접국에게 관할권을 부여할 경우 초래될 수 있는 점을 게임이론과 정치경제적인 접근으로 이러한 문제를 다루었다. 즉, 접속수역에서 인접국은 자원의 채취에 있어서 다국과의 차별적인 규제를 시행하고 타국도 마찬가지의 정책을 구사할 경우 도덕적 위해(moral hazard)에 의해 각국의 접속수역에서의 자원이 가속적으로 고갈될 수 있다는 점을 보이고 있다. 또한 단기적인 전략적 산업정책의 수행은 타국의 희생하에 시장점유율을 확대시키며 그 결과 이윤의 이전을 가져오며 이는 자국 후생의 향상을 가져올 수 있다는 브랜드-스펜서(Brander-Spencer)의 결과는 수산자원과 같은 갱생지원의 경우에는 적용될 수 없다는 점을 보이고 있다.

• Environmental and Resource Economics Review
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• v.10 no.3
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• pp.413-431
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• 2001

Previous analyses of deposit-refund systems (hereafter DRS) mosty concerned consumer-paid DRS. While there has been a trend to put more emphasis on the producers' responsibility in recycling, especilly in Europe, and the supplier-paid DRS has been enforced in Korea during the past decade, little attempt has been made to analyse rigorously the nature of the supplier-paid DRS. This paper looks into the effects of the supplier-paid DRS on firm behaviors and profits under the oligopolistic market structure. It is shown that, in the cournot model where firms strategically interact each other, when the deposit rate is high enough, firms' profit increase as the deposit rate rises. Furthermore, where the number of firms are sufficiently large, it can happen that, as the deposit rate increases, both social welfare and firms' profit improve.

• KDI Journal of Economic Policy
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• v.35 no.1
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• pp.137-146
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• 2013

This paper outlines the findings of a model of plea bargaining with multiple defendants, in which a prosecutor makes plea offer sequentially. It is shown that plea discount can be minimized with sequential offers and that not all of defendants shall be induced to plead guilty. By allowing sequential offer, a prosecutor has more power in the plea bargaining, which may increase social welfare by giving appropriate level of punishment to the guilty.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.28 no.12B
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• pp.1124-1134
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• 2003

The recent intensification of competition in the LM market has become a major issue. In this research effort, a study is made to determine the expected social benefits that can be realized from the increase of competition in the LM market through CPS. Results from this study show that consumer benefits up to 144.8 billion won can be created through the boost in competition from CPS. However, a reduction of 207.9-438.7 billion won in revenues is expected for service providers. Depending on the existing service providers, revenues may fall by at least 264.4 billion won and up to 486.2 billion won. For newcomers to the market 30.2-89.1 billion won will be created.