• 한국철도학회:학술대회논문집
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• 한국철도학회 2005년도 춘계학술대회 논문집
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• pp.1132-1137
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• 2005

Trans-Siberian Railway (TSR) has been recently rising to the surface as the world important issue with Trans-Korea Railway (TKR). This can change transportation means from sea to railway and enhance Korean international position through the North-east Asian economic cooperaton with Russia. In particular, when 'Iron Silkroad' linking TKR is created, it can revitalize the underdeveloped East Russia and Far East's economies and Korean railway can play a key role as the North-east Asian logistics center and exerts a powerful influence on them. In addition, Korean railway expects to obtain economic benefits accruing to various value-added businesses such as IT, tourism, especially, transportation business from the East Siberia, the world largest reserves of energy to Korea. This study tries to find economic value analysis and guidelines on strategies of Korean railway with international logistics base built in Khassan (Vladivostok contiguity region) through the development of energy deposited around east of TSR.

• East Asian Economic Review
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• 제16권1호
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• pp.3-23
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• 2012

The recent global financial crisis has highlighted the importance of international monetary and financial system reform. The current system is deemed to be no longer adequate to meet the needs of a complex, integrated world economy. With regards to the reform of the international monetary system, there have been various proposals both in demand and supply sides. These include proposals to build a stronger global financial safety net, to diversify the supply of international reserve currency and so on. These proposals face trade-offs between desirability and political feasibility. Given this situation, a practical transition would be to strengthen policy coordination among the major economies and to reform the International Monetary Fund. The success on both fronts depends heavily on global economic governance reform and the role of the G20. Increased status and representation of Asian countries in the G20 give both privileges and responsibilities to Asians. To meet these responsibilities, Asians should put forth greater efforts to develop their intellectual leadership in global economic issues through creating new forum and institutions.

• East Asian Economic Review
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• 제20권3호
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• pp.339-363
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• 2016

This paper analyzes why the global financial crisis in 2008 severely affected Asia's trade. Asia has been suffering from the falls in export demand from developed countries. However the abrupt trade declines in Asia are not fully explained by reactions to this as in previous experiences. The question is why the financial crisis in 2008 brought about the abrupt and deep collapse in world trade, while other world-wide recessions had more moderate effects on world trade. This paper shows that the dynamic relationship between trade and trade finance is one important factor in explaining this question. This paper also applies the Granger (causality) test to uncover different relationships in the developed and developing economies and show different results for different countries in Asia. We employ a Markov-Switching FAVAR (Factor Augmented VAR) to show that global liquidity shocks are important factors in explaining the huge and abrupt trade drops in Asia.

• Asian review of World Histories
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• 제3권2호
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• pp.201-218
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• 2015

World history today has been greatly influenced by the fact that it was the revolution in naval power during the past two centuries that made the world truly global. This has led to a new master narrative that re-framed five millennia of recorded history in order to explain the ultimate triumph of the maritime economies. The result of such revision is to underestimate and distort the role of continental Eurasia in the shaping of the three key civilizations that developed independently and remain distinct: the Mediterranean, the Indic and the Sinic. Only by a fuller reappraisal of the linkages of trade and war dominated by the Eurasian central forces for most of history can we understand the global pressures perennially at work. By setting the continental and the maritime in their total historical context and recognizing their importance today, we can better explain what is happening and what is likely to continue to influence the course of world history.

• East Asian Economic Review
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• 제23권2호
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• pp.169-202
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• 2019

Productivity in agriculture or services has long been understood as playing an important role in the growth of manufacturing. In this paper we present a general equilibrium model in which manufacturing growth is stimulated by non-manufacturing sectors that provides goods used in both research and final consumption. The model permits the evaluation of two policy options for stimulating manufacturing growth: (1) a country imports more non-manufacturing goods from a foreign country with higher productivity and (2) a country increases productivity of domestic non-manufacturing. We find that both policies improve welfare of the economy, but depending on the policy the manufacturing sector responses differently. Specifically, employment and value-added in manufacturing increase with policy (1), but contract with policy (2). Therefore, specialization of the import non-manufactured goods helps explain why some Asian economies experience rapid growth in the manufacturing sector without progress in other sectors.

• Asian Journal of Innovation and Policy
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• 제11권1호
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• pp.30-49
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• 2022

As industrialized countries transition into knowledge economies, there is a rising demand for talent and innovation. Support for start-ups through incubation, acceleration, and venture capital has turned into a key area of investment, with public and private actors searching for the next unicorn. This article examines start-up visas as an emerging policy tool in the global competition for highly innovative entrepreneurs. The study builds on a sample of eight national start-up immigration programs and applies human-capital citizenship (Ellermann, 2020) as a guiding framework. The article first proposes a conceptualization of start-up visas, suggesting that innovation and entrepreneurship also be considered in the theorization of skills. Second, the study examines the implications of start-up visas for international mobility. By focusing on the logic of entry requirements and subsequent benefits accrued through the status as a start-up founder, the findings of this study highlight the role of start-up visas in expanding privileged pathways to cross-border mobility. The article concludes with a discussion of implications for policy and research concerned with the international mobility of start-ups

• Asian Journal of Innovation and Policy
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• 제11권1호
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• pp.50-68
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• 2022

Innovation is broadly defined as the creation or adoption of new ideas and technologies, which has become an instrumental tool to determine the success and development level of a country as it leads to competitiveness and productivity of companies. Innovation is influenced by many factors including geographic and socio-economic factors as well as a political framework. In fact, innovation is systemic in nature, and it focuses on interactions amongst a nexus of processes such as Research and Development (R&D), production, business, and education, amongst other factors. However, not all innovation ecosystems have the same architectural models or internal collaboration. This paper aims to review the structure of the National Innovation Ecosystem by highlighting the different actions taken by the Government of Mauritius over the years. The multipronged approach of the government will be demonstrated through the different lines of actions to boost the innovation culture and offers a foundation for other small island developing state to follow to be at par with other innovative economies.

• Asian Journal of Innovation and Policy
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• 제11권3호
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• pp.277-292
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• 2022

This study examines the implications on the valuations of privately held firms when stakes are acquired by venture capitalists in India. In addition, the effect of fund size and revenue multiple is considered as a determinant of firm value. The study is based on a sample of 1229 rounds of funding during the period 2007-2015. The data was obtained from Venture Intelligence. Three major observations emerged based on an OLS regression. Firstly, it is observed that the stake acquired by venture capitalists has a negative effect on firm value. It supports the belief that when a firm reaches its maximum valuation from the promoter's perspective, there is a tendency to liquidate additional stakes. Secondly, a positive association between the revenue multiple and valuation is recognized. Thirdly, the convex relationship (U-shaped) between the fund size and firm valuations as seen in the case of developed economies, appears to be non-existent in India.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.251-260
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• 2020

The purpose of this paper is to investigate the impact of total factor productivity (TFP), institutional quality, and interactive variable between them on economic growth in 13 low-middle income countries in Asia for the period 2000-2018. The paper uses the difference Generalized Method of Moments (GMM) to explore the dataset provided by the World Bank. The empirical results show that TFP and the interactive variable positively impact on the economic growth, while the institutional determinants have a negative influence. The negative effect is explained by the weak institutions in these low-middle income countries. The findings of the study suggest two points. First, the government should continue to improve TFP, which is associated with the application of technical advances, technological innovations, improvement of management methods, and skilled workers. Second, far more important, is that the authorities should pay special attention to implement institutional reform and strengthen the governance in the future. The successful experiences from Japan, Korea and Singapore will help other governments in Asian low-middle income countries to build developmental state. Probably, the developmental state actively interfere in the market to promote and realize the development goals. By doing so, these economies might overcome the so-called "middle-income trap".

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.723-732
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• 2021

On September 25, 2015, 193 countries of the United Nations (UN) General Assembly, signed the 2030 Agenda to work towards attaining 17 Sustainable Development Goals (SDGs) and its associated 169 targets and 232 indicators. With one of the largest renewable energy programs, India is well-poised to be a role model for low-carbon transformation to other Asian countries. However, bridging the financing gap is critical to ensure that the country meets its SDG targets. Though the SDGs identified by the UN are broad-based and interdependent, for ease of analysis we have grouped them into five themes - people, planet, prosperity, peace, and partnership - based on existing UN models. This paper investigates the financing gap for 'green' projects linked to planet-related SDG targets in India. It builds an argument for utilizing green bonds as an instrument to bridge the gap. After establishing the potential of green bonds in raising the finance to meet India's planet-related SDG targets, we look at the current policy landscape and suggest recommendations for successful execution. The paper concludes that deepening of the corporate fixed income securities market and firming up guidelines in line with India's climate action plans are inevitable before green bonds can be considered a viable financing option.