• Nuclear Engineering and Technology
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• 제53권8호
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• pp.2746-2752
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• 2021

The environmental effects of China's nuclear energy consumption in a dynamic framework of the pollution haven hypothesis are examined. This study uses a dynamic autoregressive distributed lag simulation approach. Empirical evidence confirms that the pollution haven hypothesis does not exist for China; i.e., foreign direct investment plays a promising role in influencing environmental outcomes. Furthermore, empirical results concluded positive contribution of nuclear energy in pollution mitigation. From the results it is expected that encouraging foreign investment to increase generation of nuclear energy would benefit environmental quality by reducing CO₂ emissions.

• Communications for Statistical Applications and Methods
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• 제29권1호
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• pp.41-51
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• 2022

We forecast the US oil consumption level taking advantage of google trends. The google trends are the search volumes of the specific search terms that people search on google. We focus on whether proper selection of google trend terms leads to an improvement in forecast performance for oil consumption. As the forecast models, we consider the least absolute shrinkage and selection operator (LASSO) regression and the structured regularization method for large vector autoregressive (VAR-L) model of Nicholson et al. (2017), which select automatically the google trend terms and the lags of the predictors. An out-of-sample forecast comparison reveals that reducing the high dimensional google trend data set to a low-dimensional data set by the LASSO and the VAR-L models produces better forecast performance for oil consumption compared to the frequently-used forecast models such as the autoregressive model, the autoregressive distributed lag model and the vector error correction model.

• 한국산업정보학회논문지
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• 제19권3호
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• pp.115-125
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• 2014

This paper has two purposes. The first is to suggest the new and simple method to derive a regional input-output model from the national input-output table published by the Bank of Korea. The interregional input-output table has not been devised in spite of its potential use while the national table has been made every five years with the revised version during each five years. Second, this paper aims to derive Kangwon interregional input-output model from the national model using the regional supply proportion of industry and to analyze the effect of medical tourism industry on the regional economy of Kangwon Province. The paper measures, in particular, the effect of medical tourism industry on the financial self-sufficiency of Kangwon Province using the estimated output elasticity of tax revenue with the autoregressive distributed lag scheme ADL(1,1) in which the dependent variable and the single explanatory variable are each lagged once.

• 한국산업정보학회논문지
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• 제21권5호
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• pp.31-40
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• 2016

본 논문은 의료 및 보건서비스 산업의 특성을 나타내는 새로운 변수인 산업의 마크업, 자본집약도와 수입중간재비중을 포함하는 자기회귀시차모형을 설정하고, 의료 및 보건서비스 산업에 있어서 서비스수출의 각 결정요소탄력도를 추정함으로서 서비스 수출성과를 결정하는 요인을 실증적으로 분석하였다. 또한 본 논문은 의료보건서비스 산업의 특성을 밝히고 서비스수출의 결정요소를 실증적으로 분석함으로서 새로운 방법론을 제시하고 있다. 실증분석결과는 산업구조의 대리변수인 의료 및 보건산업의 마크업, 환율 그리고 이자율의 세 변수가 의료 및 보건서비스 산업에 있어서 서비스수출에 영향을 주는 주요변수임을 밝히고 있다.

• 유통과학연구
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• 제18권6호
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• pp.77-82
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• 2020

Purpose: In the period of international integration, how is the implementation of intellectual property regulation in developing countries? Do intellectual property rights help attract more Foreign direct investment (FDI)? This study aims to show the effect of intellectual property rights, reflect in the number of patent registered (Patent distribution into two components: Patent_residents and Patent_non-residents) on FDI attraction in Vietnam. Research design, data and methodology: Using Autoregressive distributed lag (ARDL) model for the data collected from 1990 to 2018 with EViews version 9 software. Conclusions: The results indicate that the number of patent protection has a positive effect on FDI in both short term and long term. In particular, only patent registration of foreign individuals and organizations has a significant positive effect on attracting FDI, while that of Vietnamese patents is not statistically significant. From the results of this study, we provide some recommendations to help attract FDI based on raising awareness of intellectual property rights: Increase international cooperation for innovation to learn and encourage patent; Improve the capac ity of inventing as well as the ability to register patents of Vietnamese people; Government agencies are tasked to support a nd review registration procedures; Encouraging patent registration based on the patent.

• The Journal of Asian Finance, Economics and Business
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• 제3권3호
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• pp.27-37
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• 2016

This study uses an endogenous economic growth model to determine the long run relationship between trade openness and economic growth in China by using the data 1975-2009.It contributes to the literature by developing trade openness index. An autoregressive distributed lag approach to cointegration and rolling regression method are employed. This study tests the link between trade openness and economic growth in the case of China by using the framework of endogenous economic growth model. This study also employs the rolling window regression method in order to examine the stability of coefficients throughout the sample span. The autoregressive distributed lag (ARDL) cointegration technique and rolling regression method are used. The empirical findings indicate that trade openness (i.e. Both individual trade indicator and composite trade openness index) are positively related to economic growth in the long run and short run. Our results indicate that trade openness as measured by individual trade indicator and composite trade openness index are positively related to economic growth in the long run and short run. However, results from the rolling window suggest that trade openness is negatively linked to economic growth only for a number of years.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.61-68
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• 2021

The exchange rate is considered a tool improving the volume of exports and reducing imports. This paper aims to determine the impact of the exchange rate on exports and imports between Vietnam and the United States in the context of the trade war. The research uses Autoregressive Distributed Lag (ARDL) and Nonlinear Autoregressive Distributed Lag (NARDL) Model in the time-series data from 2010:1 to 2020:9. The ARDL's results support that real exchange rate impact on export and import volumes, but less than the trade war. The trade war helps trade balance increase 0.35%, while the exchange rate increases trade balance 0.191% when the Vietnamese currency devalues 1% in the long run. In the short term, the real exchange rate makes the trade balance decrease. Therefore, the J curve exists between Vietnam and the U.S. The NARDL expresses that the exchange rate is asymmetric both in the short term and the long term. The findings of this study point to two important elements. Firstly, the exchange rate plays a minor role in exports and imports. Secondly, trade war plays a vital role in increasing exports and imports volume between two countries, and the J curve exists between the two countries.

• Asian Journal of Business Environment
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• 제11권1호
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• pp.39-50
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• 2021

Purpose: This study seeks to establish the environmental damage theory applicable to Kenya. The analysis is based on annual data drawn from World Bank on carbon dioxide emissions (CO2e) and gross domestic product per capita (GDPPC) for Kenya spanning 1963 to 2017. Research Methodology: The study adopts explanatory research design and autoregressive distributed lag model for analysis. Results: The results revealed a coefficient of -0.017 for GDPPC and 0.004 for GDPPC squared indicating that economic growth has negative effect on CO2e in the initial stages of growth but positive effect in the high growth regime with the marginal effect being higher in the initial growth regime. The findings suggest a U-shaped relationship consistent with Brundtland Curve Hypothesis (BCH). Conclusions: The findings emphasize the need for sustainable development path that enables present generations to meet own needs without compromising the capacity of future generations to meet their own. Sustainable development may include, investment in renewable energies like wind, solar and adoption of energy efficient technologies in production and manufacturing. The study concludes that BCH is applicable to Kenya and that developing affordable and effective mechanisms to boost sustainable development implementation is necessary to decrease the anthropogenic impact in the environment without any attendant reduction in the economic growth.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.1-9
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• 2021

This paper investigates the impact of the domestic and global outbreak of the coronavirus (COVID-19) pandemic on the trading size of the Malaysian stock (MS) market. The theoretical model posits that stock markets are affected by their response to disasters and events that arise in the international or local environments, as well as to several financial factors such as stock volatility and spread bid-ask prices. Using daily time-series data from 27 January to 12 May 2020, this paper utilizes the traditional Augmented Dickey and Fuller (ADF) technique and Zivot and Andrews with structural break' procedures for a stationarity test analysis, while the autoregressive distributed lag (ARDL) method is applied according to the trading size of the MS market model. The analysis considered almost all 789 listed companies investing in the main stock market of Malaysia. The results confirmed our hypotheses that both the daily growth in the active domestic and global cases of coronavirus (COVID-19) has significant negative effects on the daily trading size of the stock market in Malaysia. Although the COVID-19 has a negative effect on the Malaysian stock market, the findings of this study suggest that the COVID-19 pandemic may have an asymmetric effect on the market.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.809-820
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• 2021

The study aimed to investigate the impact of sectoral bank credit facilities provided by commercial banks on the non-oil economic growth in Saudi Arabia. Bank credit facilities are given for nine economic sectors: agriculture, manufacturing, mining, electricity and water, health services, construction, wholesale and retail trade, transportation and communications, services, and finance sector. The study employs annual data from 1970 to 2019. The study employs the Autoregressive Distributed Lag (ARDL) approach to identify the long-run and short-run dynamics relationships among the variables. The main results reveal that the overall impact of total bank credit has a significant and positive effect on non-oil economic growth in KSA. The results revealed that the effect of bank credit on the non-oil GDP growth in the short and long run was uneven. The study finds that all sectors have a positive and significant impact in the long run, except for the agricultural and mining sectors. Likewise, all sectors have a positive and significant impact in the short run, except for construction, finance, services, and transportation & communications. As a result, bank credit facilities in different sectors have played an important role in enhancing the non-oil economic growth in the KSA.