• East Asian Economic Review
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• v.21 no.4
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• pp.317-342
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• 2017

The US dollar has kept as a position of key currency in the global economy in the changing international monetary system where the euro was introduced to some states of the EU in 1999. It is an evidence of inertia of the US dollar as a key currency. Our previous study (Ogawa and Muto, 2017b) conducted empirical analysis to investigate effects of several events on inertia of the US dollar. One of our findings was that the introduction of the euro increased utility of euro while utility of US dollar was kept unchanged. This paper examines the effects of the global financial crisis and the euro zone crisis as well as the introduction of the euro on the utility of the Japanese yen. The introduction of the euro significantly decreased the utility of the Japanese yen. It indicates that the introduction of the euro increased the utility of the euro while reducing the utility of the Japanese yen rather than the utility of the US dollar. The utility of the Japanese yen has significantly decreased while the global financial crisis and the euro zone crisis occurred. The Japanese yen has a declining trend in terms of its utility over time in the changing international monetary system.

• East Asian Economic Review
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• v.19 no.1
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• pp.71-97
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• 2015

This study examines the effects of several factors indicating economic openness-imported intermediate goods, total imports, IFDI (inward foreign direct investment), and foreign ownership-on regular, irregular jobs and the ratio of irregular employment to regular employment. Findings revealed that imported intermediate inputs and IFDI affected neither regular nor irregular job figures. However, an increase in total imports led to a decrease in the number of irregular jobs without affecting regular full time jobs, leading to a decrease in the ratio of irregular jobs to regular jobs. On the other hand, changes in foreign ownership structure had a contrary effect, that is, a decrease in the number of regular jobs and an increase in irregular ones, and, thus, an increase in the ratio of irregular jobs to regular jobs. Overall results showed that a rise in imports results in depressed overall employment, irregular employment in particular, while more IFDI results in more irregular jobs replacing regular ones, effectively exacerbating job insecurity. The implication of this analysis is that greater economic openness may have a negative impact on the South Korean labor market overall.

• Journal of Distribution Science
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• v.13 no.3
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• pp.5-9
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• 2015

Purpose -The purpose of this study was to review and analyze the four major journals of KODISA and all of their published articles of 2014 and to revise and update the existing publication standards and practices in order to improve the overall quality and reputation of these journals. Research design, data, and methodology - This study applied an analytical approach, a case study method, to analyze and examine the published articles and the publication standards and practices of four KODISA journals, JDS (1999), IJIDB (2010), EAJBM (2011), and JAFEB (2014), from their first publication. Results - In 2014, KODISA journals published a total of 171 papers - JDS (122), IJIDB and EAJBM (16 each), and JAFEB (17): 94 articles in general business and 77 articles in economics. Conclusions - KODISA journals continuously revised and updated their publication standards and practices and adopted technological support systems to enable its journals to remain independent and open access in order to ultimately become one of the world's reputable journals.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.371-376
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• 2020

The study seeks to explore the factors affecting the access to credits by individual customers at commercial banks in Tra Vinh province, Vietnam. Based on these results, the author proposes solutions to further improve the ability to serve individual customers at commercial banks in the province in the future. The study was conducted with a method of collecting primary data of 300 individual customers including 150 people with access to credits and 150 people without accessing to credits at six commercial banks in Tra Vinh Province, Viet Nam - Bank of Agriculture and Rural Development, Bank for Foreign Trade Commercial Bank, Bank for Investment and Development of Vietnam, Asia Commercial Bank in Tra Vinh, Sai Gon Commercial Joint Stock Bank, and Bank of East Asia. The author has used binary regression methods, and the study found that seven factors affecting the ability of individual customers to access capital, namely, career, qualifications, collaterals, incomes, documents, loan and business plans, and experience. In particular, occupation, experience, and documents are the most influential factors. From the above results, the author proposes policy implications to improve individual customers' access to credits at commercial banks in Tra Vinh province in the near future.

• Journal of the Korean Institute of Intelligent Systems
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• v.22 no.2
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• pp.261-266
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• 2012

Due to rapid growth of East Asian economy, some changes are being made in trade volume and shipping market of this area. Busan port in Korea and Shanghai port in China are continually increasing their investment in port development and competitiveness in order to become the logistics hub of Northeast Asia. Especially the competition for transshipment containers becomes more and more fierce. So in this study, we set a goal of increasing the port competitiveness on transshipment cargo by an analysis of competition strategies. We choose the Busan port and the Shanghai port as the research objects, game competition model and real data is used to analyze the two ports' price strategies and market share. According to the results, some advices will be put forward to enhance competitiveness of the two ports.

• Journal of Navigation and Port Research
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• v.31 no.2
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• pp.133-139
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• 2007

Relative importance of maritime transport that takes charge of main current of freight in country' economy is very large. Especially, port and facility carry out important role which treats freight of import and export smoothly and improves international trade as turning point, to achieve key role on connection and association between sea and land. For such reason, enlargement of port facilities or development of port needs to grasp exactly the utilization of port, attributes and selective factors of shipper. On the other hand, the amounts of physical distribution on Mokpo port located in Korean west coast are increasing, with fast economic growth of East Asian including China. This study uses discrete choice model that is measuring to analyze attribute and characteristic of Mokpo port, and analyzes port selection by decision factors of shipper. This paper composed a questionnaire using the result of preceding research, to decide port selection factor among competitive ports. Through factor analysis on a basis of the questionnaire' result, five principal components were extracted. These are resorted out by Logit model, to grasp competitive elements of port. This research fin present direction which raises competitive power of ports in west coast of Korea, especially on alternative and concentration of middle-class port as Mokpo may be useful.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.725-735
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• 2021

This study investigates whether the Islamic Exchange-Traded Funds (ETFs) provide significant benefit to investors relative to conventional ETFs. Six pairs of Islamic and conventional ETFs with 10-year daily price data from 2010 to 2019 have been selected from major market indices like MSCI World Index, MSCI Emerging Markets, MyETF Dow Jones Islamic Market Malaysia, MSCI South East Asia and Wahed FTSE Shariah USA Index for this study. For ETFs that are launched after 2010, the price data from launch date to 2019 are used. Our results show: First, Islamic ETFs are more likely to trade at a premium rather than at a discount, implying the investors are willing to pay a premium. Second, it is also found that Islamic ETFs have a relatively shorter period of price deviation from the benchmark, implying more price stability. Third, conventional ETFs have higher return and lower tracking errors relative to Islamic ETFs. These new findings add to the stylized facts of Islamic ETFs in the extant literature for investors, plan sponsors and regulators as to the differences between the ETFs. As policy suggestion, asset management companies can design new investment products to bridge the gap between conventional and Islamic finance.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.11-22
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• 2021

This study investigates the long-run relationship between the de jure economic, political, and social globalization and foreign direct investments in the Gulf Cooperation Council (GCC) to establish whether policies that foster trade and investment relations among geographical entities can help revive the GCC countries from the prevailing economic debacles of the COVID-19 pandemic. This study is driven by the GCC's quest to fully overcome the economic challenges occasioned by the outbreak of the global pandemic and position itself as the most potent regional economic bloc in the Middle East and North Africa (MENA) region. The study employs the panel data of the six GCC countries of Bahrain, United Arab Emirates, Kuwait, Qatar, Oman, and Saudi Arabia from 1971 to 2017. The findings of the panel fully modified ordinary least square regression estimation show that the de jure economic and social globalization have a significant positive impact on the region's foreign direct investment inflows. The impact of the de jure political globalization on foreign direct investment is statistically significant but negatively signed. Based on the preceding findings, we offer some holistic policy recommendations to the GCC region as recipes for timely recovery from the economic impact of COVID-19 and beyond.

• International Area Studies Review
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• v.21 no.4
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• pp.101-124
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• 2017

This study is to examine the current situation of the AEC (ASEAN Economic Community) and analyze macroeconomic situation of Vietnam since the launch of AEC. According to recent trade indicators, Vietnam is expected to be more productive in the manufacturing and processing sectors because it is at the heart of the global value chains (GVCs) in electronics, telephones, and textiles and shoes industry. Vietnam has signed or is negotiating free trade agreements with various countries around the world including Korea, Israel, EU and RCEP and so on. Therefore, it is expected that Vietnam's trade dependency and FDI inflows to Vietnam increase more and more. However, the fact that the proportion of exports by foreign-invested companies accounts for about 70% of the total exports implies the uncertainty of Vietnam's economy in the future. Attracting FDI investment can further reduce the competitiveness of domestic companies in Vietnam. Therefore, in order for Vietnam to maintain sustainable development in the future, it is necessary to reform the momentum of foreign-invested enterprises to the development of Vietnamese companies.

• Journal of Korea Port Economic Association
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• v.30 no.3
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• pp.231-257
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• 2014

In general, furniture industry, with its high foreign dependency, has serious logistics issues that are commonly raised in such countries as Korea, China and Japan. This leads to my different possibilities & ways of rationalizing the logistics systems that utilize port hinterlands. Thus the purpose of the present paper is to create new logistics systems which will work effectively across the three countries. In this research study, we came up with 2 logistics models in which the port hinterland of Busan serves as the distribution center for furniture industry, and the models were suggested as the cooperative logistics business systems for the North-east asian region. In the proposed models, 'Busan furniture logistics center' has the dual functions of 'the cross-docking center from China to Japan' and 'the assembly & delivery center for furniture imported by Japan'. To have this logistics business center materialized, we propose that policy-level supports from the relevant port authorities be provided in the following three aspects: overseas investment promotion focused on the furniture industry of Japan, protection & enhancement of competitiveness for the port of Busan, and uilization plans for the new port hinterland of the city.