• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.471-480
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• 2020

In Indonesia, micro-, small- and medium-sized enterprises (MSMEs) are introduced to increase income by providing many easier jobs to improve economic growth. They have also been reported to be generally supportive of the local industry. The government policies on investment and expenditure have the ability to promote MSMEs and economic growth. Therefore, this research was conducted to analyze the theoretical background and empirical study to investigate government's role to promote MSMEs growth in Indonesia. The secondary data after the 2008 global financial crisis recorded quarterly from 2009 to 2019 Q3 were analyzed using the Ordinary Least Square (OLS) regression model. The results showed government expenditure has a positive and significant contribution to small- and medium-sized enterprises, but the effect was not significant for micro-businesses. Meanwhile, the investment sector was discovered to have a positive and significant effect on MSMEs. The policy implications of the Indonesian government are expected to focus on its expenditure's role as the most important factor for "social-economic protection of the community" through micro-enterprises, which are numerous and more attached to the real community economic-social life. Therefore, the existence of micro-businesses is very helpful for the lower classes despite their high vulnerability to crisis.

• East Asian Economic Review
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• 제17권3호
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• pp.281-310
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• 2013

The aim of this paper is to estimate the degree of RMB misalignment from its equilibrium exchange rate by applying the Behavioral Equilibrium Exchange Rate (BEER) approach. We employ monthly data with reference to China's top 20 trading partners covering the period of 1997 to 2012. We find that the RMB was slightly overvalued before 2001 and significantly undervalued by up to 20 per cent in the end of 2006. There is evidence showing that the RMB approached to its equilibrium level from 2007 to 2008. However, the global financial crisis interrupted the trend of declining misalignment of RMB exchange rate. The RMB's total misalignment increased to around 25 per cent in the mid-2011 mainly because the RMB was re-pegged to the US dollar and some currencies of China's main trading partners depreciated during the period of crisis. More recently, the degree of RMB misalignment slightly declined since 2012 when the RMB proceeded to appreciate and China's ratio of current account surplus to GDP dropped considerably. Our findings prove that there is a trend of the RMB approaching to its equilibrium exchange rate since 2007 except for the period of crisis.

• The Journal of Asian Finance, Economics and Business
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• 제9권4호
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• pp.191-196
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• 2022

From several socioeconomic perspectives, the present health crisis can be connected to the 2008 financial and economic catastrophe. Governments worldwide are working hard to keep the markets in check, as evidence suggests that the health crisis may soon become an economic crisis. This paper aims to analyze the effect of COVID-19 on the selected stock market. Using a panel of daily COVID-19 confirmed cases and deaths and the stock market from 22 developing countries, we exploit an oil price as a shock to the stock market and examine the effect of COVID-19 on the slowdown of the stock market. We find a negative and significant impact of COVID-19 on the stock market in the first stage till April. However, there is no net influence on the stock market downturn when we extend the period. However, further study suggests that the outbreak's negative influence on the selected stock market has diminished and has begun to decline as of mid-April. As a result of the COVID-19 effect on the chosen stock, our findings imply that the government in the chosen market should consider a regulatory mechanism to reduce the stock market slowdown induced by the pandemic COVID-19.

• Asian Pacific Journal of Cancer Prevention
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• 제13권5호
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• pp.1857-1862
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• 2012

To assess the impact of household income and economic recession on participation in CRC screening, we estimated annual participating proportions from 2007 to 2009 for different CRC screening modalities according to household income levels. A total of 8,042 subjects were derived from the fourth Korean National Health and Nutrition Examination Survey (KNHANES IV). Multivariate logistic regression analysis was used to estimate odds ratios and 95% confidence intervals for CRC screening with household income quartiles by gender in each year. People were less likely to attend a high-cost CRC screening such as a sigmoidoscopy or colonoscopy independent of the income quartile during the economic recession. Income disparities for participating in opportunistic cancer screening appear to have existed among both males and females during the three years (2007-2009), but were most distinctive in 2009. An increase in mortality of CRC can therefore be expected due to late detection in periods of economic crisis. Accordingly, the government should expand the coverage of CRC screening to prevent excess deaths by reducing related direct and indirect costs during the economic recession.

• 대한지리학회지
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• 제45권4호
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• pp.478-501
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• 2010

이 연구의 목적은 경제공간의 역동성을 이끄는 세계화, 지식기반경제, 정보사회, 서비스세계의 4대 글로벌 메가트랜드를 통해 국가간 및 지역간에 나타나는 공간경제의 불균형을 이해하는 것이다. 동아시아를 대상으로 국가간 불균형과 일본, 한국, 태국을 사례 로 국가 내에서 지역간 불균형을 분석하였다. 4대 메가트랜드와 관련된 변수들을 모두 고려할 때, 4대 글로벌 메가트랜드는 국제적인 차원과 국가내의 지역적인 차원에서 불균형의 변이를 설명해주고 있다. 그러나 개별변수들이 공간적 불균형에 미치는 영향은 분석의 공간적 규모와 국가적 특성에 따라 달리 나타난다. 대체로 동아시아국가들간에 1인당 GNI는 수렴하는 경향을 보이고, 한 국가내의 지역차원에서는 불균형이 줄어드는 경향과 확대하는 경향이 함께 나타나고 있다. 1970년대의 두 차례의 석유파동과 1990년대 말경의 동아시아 금융위기는 일반적인 불균형완화경향의 연속성을 단절시키는 결과를 초래했고, 경제활동의 지역간 국제간 불균형을 증가시켰다. 이는 세계적인 위기의 영향이 국가에 따라 다르지만 일반적으로 주변국가와 주변지역의 경제는 세계적 경제위기상황에서 더욱 취약하다는 점을 시사한다.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.57-64
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• 2021

In the last decade, the effect of digitalization was the most cited issue in economic discourse, especially since technological advances, automation, and artificial intelligence are the key to the future discussions. Unemployment is one of the most important and continuous debates, especially in times of crisis due to the COVID-19 pandemic. Therefore, this study aims to analyze the influence of leadership style in innovation organizations to deal with the crisis. In this study, a non-probability purposive sampling method was used. A total of 377 respondents were from LinkedIn social media in Indonesia, with the criteria of employees who have worked for at least 6 years. The structural equation model was analyzed with Amos 25.0. The results show that virtual, servant, and transformational leadership influence employee creativity. Moreover, employee creativity strongly influences organizational innovation; therefore, a new model was found to meet the challenges during the COVID-19 pandemic crisis, which is leadership. Therefore, these results are useful for managers to overcome challenges during the COVID-19 pandemic crisis to manage employee creativity for a better innovative organization and make science a reference for finding solutions to the global wave of unemployment in the revolution 5.0 era.

• 국제학술발표논문집
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• The 3th International Conference on Construction Engineering and Project Management
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• pp.425-432
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• 2009

The construction industry has been a main pillar and serves as a regulator of the Hong Kong economy. Subsequently, the fluctuations in the level of construction output can induce significant rippling effects to the economy. The Asian Financial Crisis started in 1997 and the SARS outbreak in 2003 both introduced major challenges and impacts to the Hong Kong economy and consequently the construction sector. Such decline in the importance of construction has suggested a possible structural change in the sector. It is worth investigating the driving forces behind the construction demand and see if they have changed after the heavy impacts in the past decade. The above considerations have, therefore, been the motivation of the present study to model the Hong Kong residential construction demand through multiple regression technique which can identify the significant influencing factors to the residential demand. The residential construction is studied as it constitutes a significant portion of the total construction volume. The residential sector has great influence to the general economy of Hong Kong. It is found that the underlying market structure and the driving factors for Hong Kong residential demand before and after the Asian Economic Crisis and SARS outbreak are different, suggesting that the residential construction sector or even the larger construction industry may have undergone a major structural change as Hong Kong's economy approaches maturity. It is also observed that the past literatures on construction demand are mostly focusing on predicting demand under a stable economic environment. Hence, it is worth examining if it is possible to model during economic hardship when the residential sector fluctuate dramatically under different external impacts, such as the recent global financial tsunami.

• 한국인구학회:학술대회논문집
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• 한국인구학회 2006년도 후기학술대회 및 정기총회
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• pp.59-87
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• 2006

본 연구의 주된 목적은 IMF 외환위기를 계기로 하여 사회경제적 차별출산의 양상이 어떻게 변화하였는가를 파악하는 것이다. 이 연구에서는 2003년 전국출산력조사 자료를 활용하여 20-49세 기혼 여자의 총출생아수와 1998년 이후의 출생아수에 대한 비교분석이 이루어 졌다. 또한, 분석대상을 1997년 이전에 결혼하였거나 재혼한 부인들과 1997년 이후 처음 결혼한 부인들의 두 집단으로 구분하여 출산력 수준과 출산행태를 비교함으로써 IMF 외환위기 이전과 이후의 변화양상을 파악하고자 시도하였다. 총 출생아수에 대한 분석 결과, 부부의 교육수준, 직업, 종사상 지위 등의 사회경제적인 조건과 출산수준은 대체로 뒤집어진 J 자형의 관계를 유지하는 것으로 밝혀졌다. 즉 사회경제적 지위가 가장 높은 집단은 바로 밑의 집단보다 출산수준이 상대적으로 높았다. 그런데, 최근의 출산수준은 이러한 사회경제적 차별출산과는 뚜렷하게 대조적인 양상을 나타냈다. IMF 외환위기 이후 출산수준 감소의 폭은 기존의 출산수준과 정비례하는 방식으로 이루어졌다. 출산수준이 높은 집단일수록 급속한 출산력 저하가 이루어졌으며, 출산수준이 낮은 집단에서는 상대적으로 변화가 완만하였다. 그 결과, 최근의 출산수준은 중상층에 해당하는 사회경제적 지위를 지닌 집단이 가장 높고 다음이 최상위 집단, 그리고 하위 집단의 순으로 바뀌었다. 이러한 경향은 부부의 교육수준, 직업, 종사상 지위, 주관적 계층에 따른 최근 출산력의 변화양상에서 일관적으로 나타났다.

• 수완나부미
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• 제14권2호
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• pp.27-59
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• 2022

During the past two decades, the Southeast Asian region has experienced a range of major crises. Service industries such as tourism and the marginal and migrant laborers who work in them have usually been at the sharp end of these testing events, from natural and environmental disasters, epidemics and pandemics, global financial slumps, terrorism, and political conflict. The latest challenge is the "Novel Coronavirus" (Covid-19/SARS-CoV-2) pandemic. It has already had serious consequences for Southeast Asia and its tourism development and these will continue for the foreseeable future. Since the SARS epidemic of 2002-2004, Southeast Asian economies have become integrated increasingly into those of East Asia (China, Japan, South Korea, Taiwan, Hong Kong). This paper examines one of the most significant current crises, Covid-19, and its consequences for Southeast Asia, its tourism industry, and its workers, comparing experiences across the region, and the issues raised by the over-dependence of some countries on East Asia. In research on crises, the main focus has been on dramatic, unpredictable natural disasters, and human-generated global economic downturns. Not so much attention has been devoted to disease and contagion, which has both natural and socio-cultural dimensions in origins and effects, and which, in the case of Covid-19, evoke a pre-crisis period of normality, a liminal transition or "meantime" and a post-crisis "new normality." The transition is not straightforward; in many countries, it operates as a set of serial lockdowns and restrictions, and to predict an uncertain future remains difficult.

• 국제학술발표논문집
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• The 6th International Conference on Construction Engineering and Project Management
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• pp.459-462
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• 2015

Korean construction industry made a huge growth over several decades. However, domestic construction market has shrunk in recent years due to the domestic political environments and global economic crisis. Today, the international construction markets become more important to be investigated, and demands for international construction study have risen. The purpose of this study is to search for measures to compare the potential of Southeast Asian countries' construction markets and select strategic target countries where the Korean construction companies pursue to explore for future investments. The research team investigated a range of selection factors which can represent the construction market condition of each country. These factors included the size of the construction industry, economic growth potential, current relationship with Korea, the level of infrastructure development, political situation, etc. After collecting data, each selection factor was scored by experts' analyses and the total score was given to each country. As a result, the rating identified attractive countries for future investments: Myanmar, Vietnam, and Sri Lanka. For the target countries, analytical methods were used for in-depth market analysis that can provide comprehensive insight and strategic clue for development of short-/mid-/long-term roadmap and action plans. The research findings would be used to support rational decision making of construction investment advancing to the Southeast Asian economic growth.