• East Asian Economic Review
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• 제24권4호
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• pp.417-440
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• 2020

The coronavirus pandemic of 2019-20 confronted fiscally dominant regimes around the world with the question of whether the large deficits caused by the health crisis should be monetized or financed by issuing debt. The unpleasant monetarist arithmetic of Sargent and Wallace (1981) states that in a fiscally dominant regime tighter money now can cause higher inflation in the future. In spite of the qualifier 'unpleasant,' this result is positive in nature, and, therefore, void of normative content. I analyze conditions under which it is optimal in a welfare sense for the central bank to delay inflation by issuing debt to finance part of the fiscal deficit. The analysis is conducted in the context of a model in which the aforementioned monetarist arithmetic holds, in the sense that if the government finds it optimal to delay inflation, it does so knowing that it would result in higher inflation in the future. The central result of the paper is that delaying inflation is optimal when the fiscal deficit is expected to decline over time.

• East Asian Economic Review
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• 제24권4호
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• pp.469-495
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• 2020

This paper overviews different exit strategies for the U.S. from the debt-overhang, and analyses their implications for emerging markets and global stability. These strategies are discussed in the context of the debates about secular-stagnation versus debt-overhang, the fiscal theory of the price level, the size of fiscal multipliers, prospects for a multipolar currency system, and historical case studies. We conclude that the reallocation of U.S. fiscal efforts towards infrastructure investment aiming at boosting growth, followed by a gradual tax increase, aiming at reaching a modest primary fiscal surplus over time are akin to an upfront investment in greater long-term global stability. Such a trajectory may solidify the viability and credibility of the U.S. dollar as a global anchor, thereby stabilizing Emerging Markets economies and global growth.

• 동아시아경상학회지
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• 제8권4호
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• pp.45-65
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• 2020

Purpose - This paper is to analyze the system and the models of financial analysis in the assessment of economic consistency and the creditability of borrower. To test the process of complex express-analysis, it is utilized by the concentric matrix models by using the matrix of 5×5.. Research design, data, and methodology - The estimation of economic consistency, the creditworthiness, the complex express-analysis with application of concentric matrix models were carried out on the basis of data of the report for the 2017 of corporations POSCO and in the first half of the 2018 Daewoo Shipbuilding & Marine Engineering of South Korea. Results - This paper focused on the unbalance of the corporate financial structure (capital, receivable) and the assessment of sustainability development, taking into account the liquidity, solvency, financial sustainability and economic viability of the enterprise. Conclusions - this paper also consider the theoretical means of regulating receivables. The material is presented in the pedagogical context and appendix of the conclusion.

• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.83-92
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• 2022

Religions and beliefs can affect the shopping behaviors of its followers and practitioners. However, the knowledge about the factors that motivate, facilitate and even constrain customers' purchase of spiritual goods, such as feng shui items, is limited. Therefore, in this study, I examined the reasons, facilitators, and constraints of purchasing spiritual goods from the buyers' perspective. Two research questions directed the examination process, including (1) why users buy spiritual goods? And (2) what factors may facilitate or constrain the purchase and use of spiritual goods? Using Vietnam's feng shui market as the context, I applied the autoethnographic and ethnographic methods to collect and analyze the data. I found that the two main reasons to purchase the feng shui items were the products' meaning and beauty. In addition, I observed three groups of factors that could facilitate or constrain the purchase and use of feng shui items, including information about the products and their sellers, disposable income and life stage of the buyers, and price and authenticity of the products. Finally, based on these findings, I discussed the practical implications for managing the spiritual goods market in Vietnam.

• Asia Marketing Journal
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• 제11권2호
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• pp.121-147
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• 2009

This research attempts to investigate differences in past experiences of using internet in repurchasing. In doing so, the authors identify online consumer characteristics, particularly one-time and repeat users comparison across geographical borders of Korean and Taiwanese teenage customers. Results show that there are significant differences in online shopping typologies between Korean and Taiwanese customers. While attitude serves as a distinguishing factor for both data sets along the other two dimensions, trust does not. Since researchers have focused on comparisons between Western cultures and Asian cultures' online purchase behavior or Internet use, the current study provides a valuable comparison for this niche population of young customers at least in a Korean-Taiwanese context. The authors also make a brief argument that these findings can influence marketing practitioners and site developers in their strategies.

• 수완나부미
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• 제9권1호
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• pp.7-52
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• 2017

This paper analyzes the scholarly approaches to the problem of "local" vs. "cosmopolitan" in the context of the cultural transfers between South and Southeast Asia. Taking the "localization" paradigm advanced by Oliver Wolters as its pivot, it reviews the "externalist" and "autonomous" positions, and questions the hermeneutical validity of the fuzzy and self-explanatory category of "local." Having discussed the geo-environmental metaphors of "Monsoon Asia" and "Maritime Asia" as alternative paradigms to make justice to the complex dynamics of transregional interaction that shaped South and Southeast Asian societies, it briefly presents two case studies highlighting the tensions between the "local" and "cosmopolitan" approaches to the study of Old Javanese literature and Balinese Hinduism.

• East Asian mathematical journal
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• 제40권3호
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• pp.307-318
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• 2024

This paper explores the application of matrix factorization, specifically CUR decomposition, in the clustering of Korean language documents by topic. It addresses the unique challenges of Natural Language Processing (NLP) in dealing with the Korean language's distinctive features, such as agglutinative words and morphological ambiguity. The study compares the effectiveness of Latent Semantic Analysis (LSA) using CUR decomposition with the classical Singular Value Decomposition (SVD) method in the context of Korean text. Experiments are conducted using Korean Wikipedia documents and newspaper data, providing insight into the accuracy and efficiency of these techniques. The findings demonstrate the potential of CUR decomposition to improve the accuracy of document clustering in Korean, offering a valuable approach to text mining and information retrieval in agglutinative languages.

• East Asian Economic Review
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• 제28권3호
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• pp.315-357
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• 2024

The rapid development of China's digital economy has enabled China to lead the world in financial technology (FinTech). In this context, it is imperative to study the impact of FinTech at the macro level on the sources of R&D financing for micro-enterprises. Using the data of A-share listed companies on the main boards of China's Shanghai and Shenzhen cities and the municipal-level FinTech development index from 2011 to 2020, this paper conducts an empirical test by applying the system generalized method of moments estimation (system GMM). Fintech facilitates firms' external financing of R&D. There is significant heterogeneity across different types of firms, with fintech facilitating R&D financing more strongly for young and non-state firms. This study not only complements the literature on the impact of fintech on R&D financing but also has essential practical guidance significance, which can provide valuable guidance and assistance to different types of enterprises in their R&D financing decision-making process.

• 수완나부미
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• 제16권2호
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• pp.39-65
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• 2024

Education is widely considered an essential tool for national development, particularly in Southeast Asia, in which advancing education ideally means advancing social cohesion, and security, and economic growth. This paper juxtaposes The Rainbow Troops: A Novel (2005, hereafter The Rainbow Troops) by Indonesian writer Andrea Hirata and Cho tôi xin một vé đi tuổi thơ (Ticket to Childhood, 2008) by Vietnamese writer Nguyễn Nhật Ánh, understanding their potentially generated dialogue about idealized education. Reading character constructions and narrative flows against educational policies and realities of Vietnam and Indonesia in particular and Southeast Asia at large reveals criticism about the true goals of education programs pertaining to children. Specifically, they provoke in readers questions about the role of education as a tool for national development appropriate to each political and economic context and the respect for the psychological, intellectual, and physical development of children.

• 한국의사학회지
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• 제31권1호
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• pp.123-134
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• 2018

Today, knowledge itself has become a resource which must be protected by the pertinent community of its contributors and users, from being manipulated or distorted by third-party players. The preservation of knowledge in relationship to the cultural context of its origins, has been recognized by international organizations intent on maintaining authentic voice and perspective. Globally, the WIPO (World Intellectual Property Organization) organizes the annual IGC (Intergovernmental Committee) meeting to address various issues associated with each country's utilization of intellectual and bio source property. Korean Medicine is the official name for the traditional medicine that has been inherited from the cultures of the Korean Peninsula. It is one of the four practices of East Asian Medicine including Traditional Chinese Medicine (TCM) from China, Kampo Medicine of Japan, and Sino-Vietnamese Medicine in Vietnam. As a cultural treasure representing centuries of evolving knowledge, Korean Medicine is protected under intellectual property rights afforded by WIPO, and must be understood in relationship to, and distinct from, TCM. It is understood that China has a strong political purpose to claim all the traditional medicines of the East Asian region under the name of TCM, including Korean Medicine. In fact TCM was authorized as the representative name for all East Asian medicine by decisions made by the ISO (International Standard Organization) in 2015. This paper proposes a pilot study on how to protect the intellectual property of Korean Medicine from efforts by China to claim it under the umbrella of TCM. Using the Uibang Yuchui (醫方類聚, Classified Collection of Medical Formulas) this paper suggests establishing a Database of UBYC, which was published in 1477 by the Joseon Korea government. UBYC was the reorganized version of contemporary East Asian medical sources, and has already hundreds of year's rich indigenous and culturally specific medical history of Korea, from which Korean Medicine has been built.