• Nuclear Engineering and Technology
• /
• 제54권10호
• /
• pp.3672-3681
• /
• 2022

This study investigates the environmental footprint impacts of nuclear energy consumption in the presence of environmental technology and globalization of the ten largest ecological footprint countries from 1990 up to 2017. By considering a set of methods that can help solve the issue of cross-sectional dependence, we employ the Lagrange multiplier bootstrap cointegration method, Driscoll-Kraay standard errors for long-run estimation and feasible generalized least squares (FGLS) and panel-corrected standard errors (PCSE) for robustness. The finding revealed significant negative effects of nuclear energy consumption, environmental-related technology, population density and significant positive effects of globalization and economic growth on ecological footprint. These results are also robust by assessing the long-run impacts of predictors on carbon footprint and CO₂ emissions as alternate ecological measures. These conclusions provide the profound significance of nuclear energy consumption for environmentally sustainable development in the top ten ecological footprint countries and serve as an important reference for ecological security for other countries globally.

• 한국항만경제학회지
• /
• 제26권4호
• /
• pp.88-100
• /
• 2010

본고는 환율변동성과 경기변동성이 우리나라 수입물동량에 미치는 영향의 방향, 크기, 지속기간을 분석하였다. 본고에서 도입하는 모형이 안정적임으로써 허구적 회귀 가능성을 배제하는 것으로 나타남에 따라 장기균형식과 오차수정모형을 이용하여 수입물동량이 변수들에 의해 어떠한 영향을 받는가에 대해 추정하였다. 예상한 대로 장기방정식의 추정결과에서 경기의 호조는 수입물동량의 증가를, 변동성의 증가는 수입물동량을 감소시키는 것으로 나타났다. 수입물동량에 미치는 영향은 환율변동성이 경기변동성보다 더 큰 것으로 나타났다. 또한 오차수정항의 계수가 음의 부호로 매우 큰 값을 나타내 빠른 속도로 장기균형으로 수렴하고 있음을 알 수 있었다. 그리고 충격반응 분석결과에 따르면 반응과 지속기간의 크기에서 경기 변수가 가장 큰 것으로 나타났다.

• The Journal of Asian Finance, Economics and Business
• /
• 제6권2호
• /
• pp.63-73
• /
• 2019

The paper aims to investigate relationships between technology and innovation management, total factor productivity and economic growth in China. By comparing the trends in total factor productivity growth of industrialized economies (i.e. OECD), this study intends to showcase the importance of total factor productivity progress in the Chinese economy. The study employs time series data of an annual basis for the period from 1977 to 2016 retrieved from the World Development Indicator. The study employs unit root test, cointegration test, fully modified least squares estimation method, canonical cointegrating regression and dynamic least squares estimation method to test the hypotheses. The results of the cointegrating regression analysis show that manufacturing growth leads to an increase of total factor productivity in the short-run in China. The findings of the study suggest that manufacturing (i.e. technology and product innovation) is positively related to the increase of total factor productivity in the short-run and total output growth in the long-run. The findings suggest that promoting technology and innovation management and supporting R&D subsidies may reduce the marginal cost of conducting R&D and increase the rate of technology and innovation management and R&D activity and therefore, the total factor productivity growth rate.

• 응용통계연구
• /
• 제35권1호
• /
• pp.93-104
• /
• 2022

S&P 500과 RUSSELL 2000, DJIA, Nasdaq 100 4가지 미국 주가지수의 실현변동성(realized volatility, RV)을 예측하는데 있어서 사람들의 관심 지표로 삼을 수 있는 인터넷 검색량(search volume, SV) 지수와 내재변동성(implied volatility, IV)를 이용하여 LSTM 딥러닝(deep learning) 방법으로 RV의 예측력을 높이고자하였다. SV을 이용한 LSTM 방법의 실현변동성 예측력이 기존의 기본적인 vector autoregressive (VAR) 모형, vector error correction (VEC)보다 우수하였다. 또한, 최근 제안된 RV와 IV의 공적분 관계를 이용한 vector error correction heterogeneous autoregressive (VECHAR) 모형보다도 전반적으로 예측력이 더 높음을 확인하였다.

• 한국항만경제학회지
• /
• 제32권3호
• /
• pp.67-81
• /
• 2016

본 연구의 목적은 브렉시트로 인한 세계 거시경제환경의 변화, 특히 당사국인 영국과 EU의 경기 및 환율의 변화가 한국의 컨테이너물동량에 미치는 영향을 분석하는데 있다. 분석을 위하여 2000-2016년의 월별시계열 데이터를 이용하고 장기적 관계를 위한 공적분 검정과 장기 및 단기 동학적 분석을 위한 VECM모형과 인과성 검정을 위한 VECM인과성 검정을 도입한다. 분석결과는 다음과 같다. 먼저, 한국 컨테이너물동량은 장기적으로는 EU의 경기와 환율에 의해서 영향을 받는다. 그리고 영국의 경기와 환율은 한국의 수출컨테이너물동량에만 한정하여 영향을 미친다. 두 번째, 단기적으로는 EU의 거시경제환경 변수 중 경기 상황보다는 유로화 환율이 한국 컨테이너물동량에 미친 영향 관계가 더욱 의미가 있는데, 이는 특히 수출컨테이너물동량의 경우 더욱 명확하다. 영국도 마찬가지로 경기의 영향은 유의성이 없지만 환율은 한국 수출컨테이너물동량에 대한 영향관계의 유의성이 커서 의미가 있다. 이러한 사실은 VECM인과성 검증에서도 잘 나타나 한국 총컨테이너물동량과 수출컨테이너물동량은 EU의 유로화환율에, 그리고 영국의 파운드화 환율은 한국의 수출컨테이너물동량에 대해서 인과성이 존재하는 것으로 확인되었다. 이상의 결과를 종합하면 영국의 브렉시트로 인한 영국 및 EU의 경기 및 환율 변화에 의한 한국 컨테이너물동량의 영향은 경기 변화보다는 환율변화에 의한 것이 더 크고 주로 수출컨테이너물동량에 집중하는 등 제한적으로 영향을 미칠 것으로 전망된다. 그리고 브렉시트 당사국인 영국보다는 EU의 경기 및 환율변화에 의한 영향이 좀 더 중요할 것으로 보인다.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권12호
• /
• pp.123-129
• /
• 2020

This scholarly work is an effort to capture the effects of oil prices on the actual exchange rate between dollar and rupee. This is done with reference to the U.S. dollar as oil prices are marked in USD (U.S. Dollar) in the international market, and India is among the top five importers of oil. Using monthly data from January 2001 to May 2020. The study used the real GDP, money supply, short-term interest rate difference between two countries, and inflation apart from the crude oil prices per barrel as the factors that help define the exchange rate. The analysis, through cointegration and vector error correction method (VECM), suggests long and short-run causality amid prices of oil and the rate of exchange fluctuations. Oil prices are found to be negatively related to the exchange rate in the long term but positively related in the short term. The result of the Wald test also indicates the short-run causation from the short-term interest rate and the prices of crude oil towards the exchange rate. The present study shows that oil prices are evidence of the existence of short-term and long-term driving associations with short-term interest rates and exchange rates.

• 토지주택연구
• /
• 제9권4호
• /
• pp.10-18
• /
• 2018

As the volatility increasement of the number of tourist, there was been controversy over supply-demand imbalance in hotel market. The purpose of this study is to analysis on determinants of hotel occupancy rate in Jeju Island. The quantitative method is based on cointegrating regression, using an empirical dataset with hotel from 2000 to 2017. The primary results of research is briefly summarized as follows; First, there are high relationship between total hotel occupancy rate and hotel occupancy of foreign tourist. The volatility of hotel occupancy is caused by foreigner user than local tourists though local tourist high propotion of hotel occupancy in Jeju Island. Second, hotel occupancy of local tourist has not relationship with demand and supply variables. Because some hotel users are not local tourists but local resident, and effects to other variables of hotel consumer trend, accommodation such as Guest house, Airbnb. Third, there are high relationship between foreign hotel occupancy rate and demand-supply variables. These research imply that total management of supply-demand is very important to seek stability of hotel occupancy rate in Jeju Island. Also it can provide a useful solution regarding mismatch problem between supply-demand as well as development the systematic forecasting model for hotel market participants.

• 한국항만경제학회지
• /
• 제23권4호
• /
• pp.216-227
• /
• 2007

건화물선 발틱운임인 케이프사이즈 운임지수(BCI), 파나막스사이즈 운임지수(BPI), 핸디막스사이즈 운임지수(BSI와 BHSI)들의 인과성과 효율성을 살펴본다. 인과성 분석을 위해 그란저 인과성 방법을 도입하여 BCI는 BPI, BSI, BHSI에 일방 그란저-cause하며, BSI는 BPI, BHSI에 일방 그란저-cause하고, BPI는 BHSI에 일방 그란저-cause함을 보인다. 이에 근거하여 모형을 구성하여 발틱 운임시장은 비효율적임을 보이고 예측능력 비교를 통해 BCI에 의한 발틱 핸디막스 운임의 예측력이 우수하며, 발틱 수퍼막스 운임과 발틱 케이프 사이즈 운임에 의한 발틱 파나막스 운임의 예측이 가장 정확하지 못함을 보인다.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권9호
• /
• pp.201-208
• /
• 2020

Terms of trade is an important indicator of the welfare gains from international trade to the exporting country. Terms of trade of oil-exporting countries are hypothesized to depend primarily on oil prices. The study assesses the relation between oil prices and the terms of trade of Saudi Arabia. The study uses the Autoregressive Distributed Lag method to determine the cointegration between the country's terms of trade and oil prices for the period 2000-2018. The data for net barter terms of trade is taken from World Development Indicators and oil price is taken from Saudi Arabian Monetary Agency. The results show that oil prices and terms of trade are cointegrated and any disequilibrium between the two variables is corrected by 35% in a year. The study also reports a positive relationship between the two items, both in the short run and long run. Diagnostic tests indicate the model to be fit. The results suggest that, for a primarily oil-producing country like Saudi Arabia, the terms of trade depend on oil prices. The study fills the gap in the literature on the study of terms of trade for Saudi Arabia for the last few years, where there has been a high volatility in oil prices.

• 통상정보연구
• /
• 제10권4호
• /
• pp.495-512
• /
• 2008

Because Korea and Japan has joined WTO and OECD, it is impossible to carry out a direct export-promoted policy such as export subsidies. Therefore, the only policy which is internationally valid for promoting an export is the export insurance. Hence export insurance system became more useful tool since it's one of the few allowed subsidies under WTO. This paper examines to find the impacts of export insurance on the export supply in Korea and Japan. The period of data is from 1980 to 2006. Unlike previous studies on the effectiveness of export subsidy in export supply, the current study examines the stationarity nature of the concerned variables. The unit root tests show that all variables are not I(0) Time Series. Instead, they are I(1) Time Series. To this, cointegration verification was conducted based on the use of Johansen verification method to define the existence (or non-existence) of long-term balance relationship among variables. The concerned variables are revealed to be cointegrated. In order to analyze, this study introduce a VEC model. In this paper we construct two VEC models. The one is about Korea, the other is about Japan. The empirical evidences show that export insurance system has not contributed to promoting export supply in Japan. But the results of empirical analysis showed significant and positive effects of Korea export insurance upon the export supply.