• STI Policy Review
• /
• v.3 no.1
• /
• pp.46-62
• /
• 2012

This study investigates the effects of the two most important indicators of a nation's state of scientific infrastructure: R&D investment and the number of R&D researchers engaged in high-tech product export competitiveness for a panel of 11 countries/economies from East Asia from 1994 to 2010. A GMM panel estimation method was employed to account for the dynamic effect of trade and to control for un-observed country specific effects that may arise due to an inter-country differences and intra-country dynamics. Accordingly, the empirical results reveal that (once controlled for the influence of per capita income) physical capital and infrastructure, a 1% increase in a country's expenditure on the ratio of R&D to GDP may increase high-tech product export performance by approximately $397 million per year. Other factors constant, a 1% increase in the number of R&D researchers is expected to increase the ability to export high-tech products by approximately $67 million. The East Asian development experience demonstrates how latecomers can follow systematic industrialization and join the handful of economies that have come a long way toward closing the knowledge gap with the global technological leaders. However, this does not mean that the policy approaches and overall commitments pursued by each East Asian economy in relation to R&D investment and acquisition of an adequate pool of researchers, and their ultimate achievements in high-tech product export competitiveness were uniform. As a result, there is still a significant variation among countries/economies in terms of performance. This study recommended a number of potential tools and policy instruments that may assist policy makers to foster R&D as an engine to enhance the high-tech product export competitiveness.

• Strategy21
• /
• s.37
• /
• pp.144-176
• /
• 2015

In September 2013, President Park Geun-hye announced her controversial "Look North" policy, of which the most salient aspect is the "Eurasia Initiative". This comprises various proposals designed to overcome existing constraints by developing new markets and creating new economic partners in continental areas from which South Korea has been alienated since the end of World War II, and this dovetails nicely with China's One Belt, One Road Initiative. The concepts of the "Silk Road Rail Express (SRX)" and the "East Sea Rim Maritime Community (ESRMC)" have also been discussed. SRX is at present a purely symbolic railroad project intended to encourage individual, cultural, trade and diplomatic exchanges. ESRMC is a model for establishing an ad hoc community to promote regional economic cooperation around the East Sea. President Park's Eurasia Initiative will provide South Korean investment for the Northeast to complement Russian plans, like the "Northern Energy Road" being built by Gazprom, and Chinese plans, like the Chang-Ji-Tu Development Plan for the North Korean port of Rajin. China's trade, as well as its energy and food supplies, pass through the Strait of Malacca and the Indian Ocean, and are thus vulnerable to interdiction by India or the US. China is therefore trying to reduce its exposure geopolitical risk by establishing a network of corridors between the Belt and the Road to provide alternative paths. The "China-Pakistan Economic Corridor" and the "China-Myanmar Economic Corridor" provide such connections, and South Korea hopes that SRX and ESRMC can become part of a "China-South Korea Economic Corridor". This concept could do much to revitalize the underdeveloped northern provinces of China and Russia's Far East, not to mention North Korea. By linking up the Trans-Siberian Railway, the Trans-China Railway, the Trans-Mongolian Railway and the Trans-Korean Railway all these Asian countries will be connected to one another, and ultimately to Europe. An interim connection between China and South Korea using a rail-ferry has also been proposed.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 2011.11a
• /
• pp.183-185
• /
• 2011

Mongolia is aiming at connect and expand global trade to third countries using Russia, China and East Asian ports. Also, trying to evolve infrastructure and super-frastructure in international maritime transportation. This paper presents maritime development trends in Mongolia and focuses on discussing the current situation of international maritime plan and points out some issues currently facing by the policy to develop promoting the country's maritime businesses. Finally, this paper presents some future directions for developing the maritime transportation in Mongolia.

• East Asian Economic Review
• /
• v.27 no.4
• /
• pp.327-346
• /
• 2023

In the recent 20 years, the capital flows between Korea and European Union have increased and diversified. In particular, the business cycles of two economies have shown similar patterns since the Global Financial Crisis. This study examines both trends and investigates the roles of finance and trade on business cycle co-movements between two economies. The empirical results show that the business cycles can diverge due to either the common shocks or the country-specific shocks. Furthermore, financial integration increases the business cycle co-movements driven by both the country-specific shocks and the common shocks between two economies.

• East Asian Economic Review
• /
• v.16 no.1
• /
• pp.97-115
• /
• 2012

This paper investigates the relationship between financial markets and output growth for a panel of 27 Asian countries over 1960-2009. It utilizes the recently-developed panel cointegration techniques to test and estimate the long-run equilibrium relationship between real GDP and financial development proxies. Real GDP and financial development variables are found to have unit roots and to be cointegrated, based on various panel unit root tests and panel cointegration tests. We find that there is a statistically significant positive bi-directional cointegrating relationship between financial development and output growth by three distinct methods of panel cointegration estimation. Empirical findings suggest that financial market development promotes output growth and in turn output growth stimulates further financial development.

• Journal of Korea Trade
• /
• v.23 no.4
• /
• pp.103-114
• /
• 2019

Purpose - This paper investigates the structure of exports across countries in terms of value added. Exports value added is examined under two categories, domestic and overseas. Using a statistical classification method by distance based on these two value added categories, this paper estimates the similarity of exports value added across countries including Korea. Design/methodology - The model of study is to employ a generalized distance function and then derive the Manhattan and Euclidean distances. The paper also performs cluster analysis using the Partitioning Around Medoids (PAM) and hierarchical methods to classify the 44 sample countries considered in this study. Findings - Our main findings are as follows. The 44 countries can be classified under 5 groups by their domestic and overseas value added in exports. Korea has a sandwich global value chains (GVCs) position between Japan, China, and Taiwan in the East Asian region. Originality/value - Existing papers point out the double counting problem of trade statistics as the intermediate goods trade across borders increases. This paper addresses the double counting problem by using the World Input-Output Table. The paper shows the need to explore the similarity of value added in exports structure across countries and investigate the GVCs position and role of each country.

• Proceedings of the Korean Society of Computer Information Conference
• /
• 2023.01a
• /
• pp.429-431
• /
• 2023

본 연구에서는 아시아 주요국인 한국, 중국, 일본의 기업가정신으로 대표되는 기업가적 태도 중 지각된 능력(SUSKILL), 지각된 실패 두려움(FEARFAIL) 등의 요인이 어떤 차이가 있는지를 알아보고자 한다. 연구결과는 다음의 몇 가지로 요약된다. 첫째, SUSKILL의 수치를 봤을 때 한국은 높은 편에 속하였다. 그리고 FEARFAIL는 세 국가 중 가장 낮게 나타났다. 이는 한국의 기업가 정신 구축 환경이 잘 되어 있음을 나타낸다. 둘째, 중국은 대부분 지표에서 중간 정도의 수치를 나타내고 있었다. 셋째, 일본은 FEARFAIL는 세 국가 중 두 번째로 나타났으나 SUSKILL 등 지표에서 세 국가 중 가장 낮게 나타났다. 이러한 결과를 볼 때 일본의 경우 지속적인 성장을 위해서는 사회의 변화, 인식의 변화가 크게 일어나야 한다는 것을 시사한다. 본 연구는 국가별 기업가 정신과 기업가 태도를 비교함으로써 지속가능한 경영환경을 조성하는데 기여가 있다고 판단된다.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.8
• /
• pp.175-183
• /
• 2020

This study explores the effect of trade of Information Communications Technology (ICT) products and government's role, measured by three factors: Control of corruption, Government effectiveness, and Administrative tax level, on raising the economy across the East Asia-Pacific region. Secondary data were collected from the World Bank database of 21 countries over 12 years from 2006 to 2017. Applying the Panel corrected standard error model and running a robustness check based on the Dynamic panel data method, this research found that the exported ICT products, control of corruption, and government effectiveness could increase the economic income of a country in the region. The paper also provided the evidence indicating that the imported ICT products and the Administrative tax level are two harmful factors for economic growth. The major finding confirmed the useful contribution on improving government quality and its economy. First, improving the economy of a country always poses various challenges to its government. During the past decades, although much of the literature confirmed that exporting ICT products could promote an economy, very few studies investigated the role of Administrative tax level and the Government effectiveness. Second, there are only a few studies exploring the capability of government and the economic growth in the Asia-Pacific region.

• East Asian Economic Review
• /
• v.21 no.2
• /
• pp.103-121
• /
• 2017

This paper experimentally studies the performance of negotiation considering individual and party, like a country, share of benefit over the best ones. It experiments two-stage bargaining games, internal and external negotiations. From the experimental results, this paper shows strong tendency to select fair allocation in the internal negotiations, but the tendency would be weaker with attractive outside option. In addition, the outside option may claim difference in individual benefit. From the regressions on individual performance in the negotiations, being a proposing party would matter to enhance the performance. However, relative individual performance within party fairness matters. Still attractive no-agreement options happen to break the tendency. As policy implication for trade negotiation, this paper warns that possible loss in individual benefit from not active participation to the external negotiations, no active role of proposer in case that players stick to internal allocations, and deviation of advantageous sector due to attractive outside options.

• Food Industry
• /
• s.206
• /
• pp.26-41
• /
• 2008

Recently, Korea have experienced numbers of FTAs with other countries, including Chile, EFTA(European Free Trade Association), Singapore, ASEAN(Association of South-East Asian Nations), and U.S. In particular, FTA with U.S. are expected to cause huge impact on food markets as well as agricultural sector in Korea. Many researches have analyzed and discussed about the impact on agricultural sector after Korean-U.S. FTA, but very small number of studies focus on the impact of Korean-U.S. FTA on food markets. The purpose of the paper is to discuss the impact of Korea-U.S. FTA on Korean dairy market. For the numerical simulations, this paper focus on the impact on cheese and butter markets. The results of numerical analysis in the paper will be helpful for the future research, because few (maybe no) studies conduct the numerical analysis to measure the impact of Korea-U.S. FTA on Korean food market.