• 제목/요약/키워드: Central Bank

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중앙은행 디지털 화폐에 대한 정치경제학적 분석 (Political Economic Analysis of the Central Bank Digital Currency)

  • 한영빈
    • 분석과 대안
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    • 제7권2호
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    • pp.147-178
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    • 2023
  • 이 글은 국가들이 기술적·경제적인 문제점들을 지적하며 민간 차원의 암호화폐 발행에는 반대를 하면서도 CBDC와 같은 정부 주도의 디지털 화폐발행에는 적극적으로 뛰어들고 있는 이중적인 태도에 대한 해답을 찾고자 하는 목적을 가지고 있다. 이러한 문제의식에 대해 이 글은 이론적 논의를 통해 디지털 화폐가 가지고 있는 정치권력적이고 경제적인 이해관계의 특성을 찾아내고 이를 국제적인 차원인 브래튼 우즈 II 체제에 적용시켜 현재 국가들이 보이는 이중적인 태도가 국제통화질서의 위기와 밀접한 연관성이 있다는 사실에서 해답을 찾고자 한다. 신용화폐를 기반으로 무분별한 통화팽창을 일삼으며 세계경제를 이끌어왔던 브래튼우즈 II 체제는 2008년 글로벌 금융위기를 통해 그 한계를 드러내며 국가들을 어려움에 빠뜨렸었다. 이러한 상황에서 중앙권력의 통화발행 독점력에 대한 문제를 제기하며 등장한 암호화폐는 국가들을 더욱 더 궁지로 몰아넣는 계기로 작용할 수밖에 없었다. 이 글은 CBDC가 이러한 문제들을 해소하기 위한 국가적 차원의 대응이라고 보고 있다. 즉 국가들은 민간 디지털 화폐의 도전을 CBDC를 통해 정부 차원으로 흡수하는 방법을 통해 통화권력을 유지하고 이를 발판으로 위기에 봉착한 국제통화질서를 자신들에게 유리한 방향으로 재편시키는 수단으로 활용하려는 의도를 가지고 있다는 것이 이글이 주장하고자 하는 내용이다.

Molecular Cloning and Expression of a Cu/Zn-Containing Superoxide Dismutase from Thellungiella halophila

  • Xu, Xiaojing;Zhou, Yijun;Wei, Shanjun;Ren, Dongtao;Yang, Min;Bu, Huahu;Kang, Mingming;Wang, Junli;Feng, Jinchao
    • Molecules and Cells
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    • 제27권4호
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    • pp.423-428
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    • 2009
  • Superoxide dismutases (SODs) constitute the first line of cellular defense against oxidative stress in plants. SODs generally occur in three different forms with Cu/Zn, Fe, or Mn as prosthetic metals. We cloned the full-length cDNA of the Thellungiella halophila Cu/Zn-SOD gene ThCSD using degenerate RT-PCR and rapid amplification of cDNA ends (RACE). Sequence analysis indicated that the ThCSD gene (GenBank accession number EF405867) had an open reading frame of 456 bp. The deduced 152-amino acid polypeptide had a predicted molecular weight of 15.1 kDa, an estimated pI of 5.4, and a putative Cu/Zn-binding site. Recombinant ThCSD protein was expressed in Escherichia coli and assayed for SOD enzymatic activity in a native polyacrylamide gel. The SOD activity of ThCSD was inactivated by potassium cyanide and hydrogen peroxide but not by sodium azide, confirming that ThCSD is a Cu/Zn-SOD. Northern blotting demonstrated that ThCSD is expressed in roots, stems, and leaves. ThCSD mRNA levels increased by about 30-fold when plants were treated with sodium chloride (NaCl), abscisic acid (ABA), and indole-acetic acid (IAA) and by about 50-fold when treated with UVB light. These results indicate that ThCSD is involved in physiological pathways activated by a variety of environmental conditions.

낙동강 일대와 중부 지역 주요 습지의 토양종자은행 분석 (The Analysis of Soil Seed Bank at Major Wetlands in Nakdong River Basin and Central Korea)

  • 주은정;김재근
    • 한국환경복원기술학회지
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    • 제12권5호
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    • pp.77-91
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    • 2009
  • The purpose of this study is to define the species composition of the soil seed banks at major wetlands in Nakdong river basin and central korea and to investigate how soil seed banks relate to aboveground vegetation and soil texture. In 2005, we sampled seed banks at Baksil reservoir, Jillal marsh, Deapyeng marsh, Hwapo marsh, Upo marsh and Junam reservoir in Nakdong river basin and Osan stream and Amsa-dong in Seoul. The soil seeds were estimated with the emergence method from April to October. Total numbers of species at the seed banks were 33 at Baksil, 18 at Daepyeong, 35 at Jillal, 56 at Upo, 32 at Hwapo, 47 at Osan stream, 54 at Amsa waterside, 31 at Amsa meadow. The species diversity in the soil seed banks of Upo marsh was the highest as 0.95. The community overlap index that compares aboveground with underground vegetation is high in the Upo marsh (0.34), Jilla marsh (0.36), and Osan stream (0.27). Soil texture affected distribution of 8 species, Lindernia procumbens, L. attenuata, Arenaria serpyllifolia, Juncus effusus, Persicaria thunbergii, Eragrostis multicaulis, Cyperus nipponicus, Scirpus fluviatilis. Considering the social and cultural values, soils at Amsa meadow, Hwapo marsh and Osan stream have worth to use for wetland restoration.

The Determinants of Foreign Exchange Reserves: Evidence from Indonesia

  • ANDRIYANI, Kurnia;MARWA, Taufiq;ADNAN, Nazeli;MUIZZUDDIN, Muizzuddin
    • The Journal of Asian Finance, Economics and Business
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    • 제7권11호
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    • pp.629-636
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    • 2020
  • This study aims to identify and analyze the factors that affect foreign exchange reserves in Indonesia. We consider the variables of external debt, exchange rate, inflation, and exports as explanatory factors referring to previous studies. We apply the Autoregressive Distributed Lag approach to time-series data retrieved from the Central Bank of Indonesia (BI), the Central Bureau of Statistics (BPS), and International Monetary Funds (IMF) from January 2016 to December 2018. Our results show that foreign debt, exchange rates, inflation, and exports significantly affect the simultaneous fluctuation of foreign exchange reserves in Indonesia. Partially, foreign debt has a significant and positive effect on foreign exchange reserves. The exchange rate has a significant and negative effect on foreign exchange reserves in Indonesia. However, our findings explain that inflation does not significantly affect foreign exchange reserves in Indonesia, and exports have a significant and positive effect on foreign exchange reserves. This study is expected to be useful to policymakers in managing foreign exchange reserves, so the economy of Indonesia can grow sustainably. One of the exciting things in this study lies in the model that uses the Autoregressive Distributed Log, which can explain long-term relationships through adjusted coefficient and cointegration tests.

Comparative Study of Health Care System in Three Central Asian Countries: Kazakhstan, Kyrgyzstan, Uzbekistan

  • Dronina, Yuliya;Nam, Eun Woo
    • 보건행정학회지
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    • 제29권3호
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    • pp.342-356
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    • 2019
  • Background: The objectives of the study are to find out the effect of the implementing reform in three Central Asian countries, identify its impact on health status and health care delivery systems. This study address to identify strong and weak points of the health systems and provide a recommendation for further health care organization. Methods: A comparative analysis was conducted to evaluate the effects of implemented policy on health care system efficiency and equity. Secondary data were collected on selected health indicators using information from the World Health Organization Global Health Expenditure Database, European Health Information Platform, and World Bank Open Data. Results: In terms of population status, countries achieved relatively good results. Infant mortality and under-5 mortality rate decreased in all countries; also, life expectancy increased, and it was more than 70 years. Regulations of the health systems are still highly centralized, and the Ministry of Health is the main organ responsible for national health policy developing and implementation. Among the three countries, only Kyrgyzstan was successful in introducing a national health system. Distribution of health expenditure between public expenditure and out-of-pocket payments was decreased, and out-of-pocket payments were less the 50% of total health expenditure in all countries, in 2014. Conclusion: After independent, all three countries implemented a certain number of the policy reform, mostly it was directed to move away from the old the Soviet system. Subsequent reform should be focused on evidence-based decision making and strengthening of primary health care in terms of new public health concepts.

The Mean Reverting Behavior of Inflation in the Philippines

  • CAMBA, Abraham C. Jr.;CAMBA, Aileen L.
    • The Journal of Asian Finance, Economics and Business
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    • 제8권10호
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    • pp.239-247
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    • 2021
  • Central Bank authorities should carefully manage inflation rate uncertainties to achieve economic growth and development not only in the short-run but also in the long-run. Since inflation is a key macroeconomic variable, an increased understanding about its behavior is undoubtedly important. Thus, paper employs unit root with breakpoints to examine the mean reverting behavior of inflation rate in the Philippines using monthly data from 2002 to 2020. Empirically, the unit root breakpoint innovational and additive outlier tests favor the stationarity or mean reverting behavior of inflation in the Philippines. Also, results of standard unit root tests, ADF, PP, GLS-Dickey-Fuller, KPSS and NP, provide strong evidence of mean reverting processes. The mean reverting behavior of inflation rate reveals that the monetary policy using inflation targeting framework has succeeded in reducing chronic inflation persistence in the Philippines. Thus, this research supports inflation targeting policy that aims to maintain general price level stability for the Philippine economy's long-term growth and development prospects. The findings of this research remain important for the central bankers for not only providing them better understanding about the behavior of inflation rate, but also helping them formulate and implement policy reforms related to money, credit and banking.

The Impact of Capital Account Openness on Income Inequality: Empirical Evidence from Asia

  • ULLAH, Imran;TUNIO, Fayaz Hussain;ULLLAH, Zia;NABI, Agha Amad
    • The Journal of Asian Finance, Economics and Business
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    • 제9권2호
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    • pp.49-59
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    • 2022
  • The relationship between income inequality and capital account openness is empirically investigated in this study, where macroeconomic variables have opposing effects. Panel data used in the study from the KAOPEN Index and World Bank consists of 28 Asian countries and has been examined; it contains annual observations from 1970 to 2018. The data is examined using a random-effect model based on GMM estimates. Income inequality and capital account openness are positively and significantly related, according to our findings. Overall, the findings imply that increasing income gaps reduced capital investment in nations with large discrepancies. The growing economic discrepancy is being caused by the rich's increasing income share at the expense of the poor. In Asia, inward capital account openness exacerbates income inequality, while outward capital account openness exacerbates it. As a result, income inequality slows economic growth, leading to inflation, unemployment, and increased government spending in several Asian countries. Our control factors, GDP, and other secondary school enrolments, all had a statistically significant negative relationship with income inequality. Income disparity has a positive and statistically significant association with government spending, inflation, population, trade openness, and unemployment. Income disparity has a negative association with capital account openness, gross domestic product, and secondary school enrollment.

The Impact of Service Quality and Loyalty on Adoption and Use of Mobile Banking Services: Empirical Evidence from Central Asian Context

  • IVANOVA, Aisena;NOH, Grimm
    • The Journal of Asian Finance, Economics and Business
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    • 제9권5호
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    • pp.75-86
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    • 2022
  • The service industry has been acknowledged as a critical part of mobile banking services in recent years. This study examines the impact of e-service quality and loyalty on the intention to use and use behavior of mobile banking services in Mongolia, a Central Asian country. As a result, based on past research, a conceptual model was suggested. This study comprises 209 completed questionnaires from young Mongolians who own a bank account and a smartphone. The data was collected based on convenience sampling, and it was analyzed with SmartPLS software using a partial least squares-structural equation modeling (PLS-SEM) technique. The findings indicate that system quality, interface design, and security assurance have a significant positive impact on service quality; service quality has a positive impact on loyalty. Moreover, the results reveal that service quality and loyalty have a significant influence on the intention to use mobile banking services. The findings of this study suggest that local or international banks and financial institutions in Mongolia should consider system quality, interface design, and security concerns as key successors to building perceived security quality to retain current mobile banking users and attract new customers.

병원의 표준 혈액재고량 산출식 개발 (Development of the Standard Blood Inventory Level Decision Rule in Hospitals)

  • 김병익
    • Journal of Preventive Medicine and Public Health
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    • 제21권1호
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    • pp.195-206
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    • 1988
  • Two major issues of the blood bank management are quality assurance and inventory control. Recently, in Korea blood donation has gained popularity increasingly to allow considerable improvement of the quality assurance with respect to blood collection, transportation, storage, component preparation skills and hematological tests. Nevertheless the inventory control, the other issue of blood bank management, has been neglected so far. For the supply of blood by donation barely meets the demand, the blood bank policy on the inventory control has been 'the more the better.' The shortage itself by no means unnecessitate inventory control. In fact, in spite of shortage, no small amount of blood is outdated. The efficient blood inventory control makes it possible to economize the blood usage in the practice of state-of-the-art medical care. For the efficient blood inventory control in Korean hospitals, this tudy is to develop formulae forecasting the standard blood inventory level and suggest a set of policies improving the blood inventory control. For this study informations of $A^+$ whole bloods and packed cells inventory control were collected from a University Hospital and the Central Blood Bank of the Korean Red Cross. Using this informations, 1,461 daily blood inventory records were formulated.48 varieties of blood inventory control environment were identified on the basis of selected combinations of 4 inventory control variables-crossmatch, transfusion, inhospital donation and age of bloods from external supply. In order to decide the optimal blood inventory level for each environment, simulation models were designed to calculate the measures of performance of each environment. After the decision of 48 optimal blood inventory levels, stepwise multiple regression analysis was started where the independent variables were 4 inventory control variables and the dependent variable was optimal inventory level of each environment. Finally the standard blood inventory level decision rule was developed using the backward elimination procedure to select the best regression equation. And the effective alternatives of the issuing policy and crossmatch release period were suggested according to the measures of performance under the condition of the standard blood inventory level. The results of this study' were as follows ; 1. The formulae to calculate the standard blood inventory level($S^*$)was $S^*=2.8617X(d)^{0.9342}$ where d is the mean daily crossmatch(demand) for a blood type. 2. The measures of performace - outdate rate, average period of storage, mean age of transfused bloods, and mean daily available inventory level - were improved after maintenance of the standard inventory level in comparison with the present system. 3. Issuing policy of First In-First Out(FIFO) decreased the outdate rate, while Last In-First Out(LIFO) decreased the mean age of transfused bloods. The decrease of the crossmatch release period reduced the outdate rate and the mean age of transfused bloods.

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일본의 빈집대책 정책방향 조사 연구 - 사가현(佐賀縣) 사가시(佐賀市) 및 아리타초(有田町)를 중심으로 - (A Study on Japan's Policies on Vacant Houses - Based on Saga city and Arita cho in Saga prefecture -)

  • 박헌춘;박재엽;후등 륭태랑
    • 한국농촌건축학회논문집
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    • 제19권2호
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    • pp.1-8
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    • 2017
  • The purpose of this study is to examine the policy direction and execution plans of the Japanese central and local governments for the use of vacant houses after the enactment of the "Special Act on Vacant Houses." It also seeks to provide suggestions for establishing vacant house policies in Korea by identifying the characteristics of the Japanese policies, and to suggest policy alternatives that can contribute to environmental improvement and regional revitalization through the use of vacant houses. For this purpose, we examined Japan's "Special Act on Vacant Houses," the process of establishing vacant house policies in the Japanese central and local governments, and the contents and direction of these policies. Below are the results of this study. First, the Japanese government revised mid to long-term policies related to housing after the enactment of the "Special Act on Vacant Houses", thereby providing ground for local governments to establish vacant house policies. Second, the government actively supported the operation and funding of related associations so that the private sector rather than the public sector could address vacant house problems. Third, the government subsidized administrative expenses such as cost of finding vacant house owners to prevent neglect of vacant houses, and showed its will to address vacant house problems by revising taxes such as property taxes and transfer income taxes. Fourth, the government has enacted distinct ordinances for each local government and made it possible to perform customized policies such as allowing residents and local stakeholders to participate in the establishment of vacant house policies. Fifth, the government made it possible to manage vacant houses efficiently by allowing the vacant house bank to provide all information related to the use of vacant houses. It is necessary for Korea's central and local governments to refer to these precedent cases and create efforts to reduce trial and error when establishing vacant house policies.