• Asian Journal of Innovation and Policy
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• 제8권1호
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• pp.1-30
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• 2019

The advent of digitalisation has transformed economies into more integrated, but increasingly complex systems. This new trend has brought dynamic changes in the manufacturing sector through advanced ICT infrastructure, smart factories, digitally-controlled logistics, and skilled ICT-labour. The impacts of the digital economy on manufacturing could be best illustrated through "Industry 4.0." With this wave of technological advancement, countries aim to establish an industrial ecosystem where every manufacturing process and function is connected and interacts through digital networks. Industry 4.0 presents opportunities for Emerging Asia, as the region has emerged as a fast-growing manufacturing hub and particularly a production base for ICT goods. However, growing production capacity, increased exports, and increases in FDI in the field of ICT goods manufacturing have so far contributed little to the development and diffusion of ICT. A huge gap exists in the ICT uptake amongst countries and between small and large firms. This paper highlights the level of Industry 4.0 readiness of Emerging Asia and key factors that determine its enhancement.

• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.203-211
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• 2022

Foreign direct investment (FDI) has increased at an exponential rate during the last two decades. It is now a feature of emerging market economies as well. Foreign direct investment and financial development are important factors in an economy's growth. Various studies have examined the impact of foreign direct investment and financial development on economic growth in different countries and areas. However, the findings are currently inconclusive. Using updated data from 1970 to 2020, this study will examine the relationships between FDI, financial development, and economic growth in 30 rising economies.GDP is the dependent variable, while FDI, financial development, trade openness, infrastructure, exchange rate, and GDP growth are the independent factors. To estimate the panel data, we used the most recent econometric models. The study's major findings suggest that FDI and financial development are critical determinants in emerging economies' economic progress. Furthermore, multiple robustness checks supported the study's empirical findings. The results of this study include various practical recommendations for investors, governments, and policymakers, given the increased interest in global economic integration and member states' reliance on FDI as a critical aspect of sustaining prosperity.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.99-109
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• 2022

The main reason for the increase in cross-border mergers and acquisitions in developed and emerging countries is globalization and growing economic interdependence across countries. The state of the economy has a significant impact on whether cross-border mergers and acquisitions are encouraged or discouraged by international strategic capital market changes. This study empirically evaluates the influence of determinants of economic development on the scale effect of Cross Border M&As separately on emerging and developed nations as a research gap. We first separated the small and large scale firms based on companies' worth and used panel regression to analyze the impact of GDP, employment rate, and market capitalization on cross-border merger & acquisition deals over the period of 2008-2018. Results indicate that GDP and market capitalization have a positive effect on CBM&A, whereas employment rate has a negative effect on CBM&A deals in large-scale firms of both emerging and developed countries. This study results offer the implication for the potential investors and policymakers to strategically analyze the implementation of cross-border mergers & acquisitions.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.77-88
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• 2021

The stock markets in the BRICS (Brazil, Russia, India, China and South Africa) countries are the leading emerging markets globally. Therefore, it is pertinent to ascertain the critical drivers of stock market development in these economies. The currrent study empirically investigates to identify the linkages between stock market development, key macro-economic factors and institutional factors in the BRICS economies. The study covers the time period from 2000 to 2017. The dependent variable is the country's stock market development and the independent variables consist of six macroeconomic variables and five institutional variables. The study employs a panel cointegration test, Fully Modified OLS (FMOLS), a Pooled Mean Group (PMG) approach and a heterogeneous panel non-causality test.The findings of the study indicate co-integration among the selected variables across the BRICS stock markets. Long-run estimations reveal that five macroeconomic variables and four variables related to institutional quality are positive and statistically significant. Further, short-run causalities between stock market capitalization and selected variables are detected through the test of non-causality in a heterogeneous panel setting. The findings suggest that policymakers in the BRICS countries should enhance robust macroeconomic conditions to support their financial markets and should strengthen the institutional quality drivers to stimulate the pace of stock market development in their countries.

• 한국산학기술학회논문지
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• 제19권3호
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• pp.75-82
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• 2018

최근 신흥개발국들은 한국형 경제개발 정책에 관심을 갖고 한국의 지역혁신 모델을 접목하고자 노력하고 있다. 한국도 신흥국의 수요에 맞추어 지역혁신 모델을 수출하고 해당국과 경제협력을 강화하는데 관심이 있다. 본 연구는 신흥국에 대한 한국형 지역혁신모델 전수사업을 분석하고 정책을 제시하고자 한다. 이를 위해 태국, 키르키즈공화국, 베트남, 멕시코 등 신흥 4개국의 혁신기관 실무자들이 공동학습 - 네트워크- 상호작용 활동에 참여하는 행태를 표적집단면접법에 의해 분석하였다. 한국의 혁신기관에서 제공하는 전수사업에서 현지국가 혁신주체의 초기 활동을 분석한 결과, 전수사업의 연수 시간과 이후 현지인들에 의한 자체 공동학습 참여율의 관계는 가장 밀접한 상관관계 (0.975)가 있음을 발견하였다. 그러나 이들의 자체 공동학습과 현지의 네트워크 참여율의 상관계수는 다소 낮아 (0.667), 현지에서 공동학습을 네트워크로 연결하는 정책이 필요하다. 네트워크 참여율과 혁신주체의 상호작용 참여율은 높은 상관관계 (0.950)로 나타나, 네트워크 구축이 지역혁신 모델의 관건이라는 것을 보여준다. 본 연구는 교육과 컨설팅 형태의 연수보다는 현지의 혁신 네트워크 활동을 촉진하는 사업을 추천한다. 본 연구는 충남테크노파크의 사례와 같이 혁신주체들이 스스로 학습 네트워크를 구축하여 지역에 맞는 혁신모델을 창출하고 지역혁신플랫폼을 직접 운영하는 단계까지 추진하는 전수사업 정책을 제안한다.

• Asia Marketing Journal
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• 제24권4호
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• pp.143-151
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• 2023

In emerging countries, traditional retail, such as wet markets, still accounts for a large proportion of retail sales. Traditional retail has poor infrastructure compared to modern retail, and is often associated with problems of waste, water, and environmental pollution. Therefore, traditional retail faces extreme difficulties in achieving sustainability. This study aimed to determine what value traditional retail contributes to sustainability. We generated and applied a conceptual framework of sustainability to explore this question. We used a single case study of a small-scale wet market in Vietnam. The results showed that wet markets have significant value for the development of sustainable retail, including economic, environmental, social, and community value. This study extends the literature by providing a comprehensive and accurate view about the value of traditional retail in contributing to sustainability. It suggests strategies for traditional retail in emerging countries to survive sustainably.

• Asian Pacific Journal of Cancer Prevention
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• 제16권4호
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• pp.1385-1389
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• 2015

The aim of this study was to investigate the sun protection use behaviour among university students from 25 low, middle income and emerging economy countries. Using anonymous questionnaires, data were collected from 18,687 undergraduate university students aged 18-30 years (mean age 20.8, SD=2.8) from 26 universities in 25 countries across Asia, Africa and the Americas. Overall, 57.2% of university students reported liking to sunbathe and of those only 48.1% used sun protection when sunbathing. In multivariate logistic regression, younger age, being female, coming from a wealthy or quite well off economic family background, living in an upper middle or high income country, lighter skin tone, and other health behaviours were found to be associated with sun protection use behaviour. Low sun protection use calls for health promotion programmes to prevent unprotected sun exposure.

• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.169-178
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• 2020

In this paper, we provide an overview of financial development in Vietnam. Particularly, a new approach of this study is to measure financial development through improvements in depth, efficiency and access of the banking system and stock market. Further, the study examines the factors significantly affecting financial development in Vietnam. The data are collected in Vietnam, an emerging country with a limited financial development. We employ the Autoregressive Distributed Lag (ARDL) approach, which generates a high reliability and suits data characteristics of emerging countries like Vietnam. We observe that Vietnam's banking system plays a key role in supplying credits to the economy while the nascent stock market at a limited size shows its potential for a considerable growth in the future. We also find the influential determinants of financial development in Vietnam including real estate market (RE), economic growth (EG), consumer price index (CPI), and global financial crisis (GFC). These findings are essential for Vietnamese authorities in providing practical solutions in order to build a sustainable and synchronous financial development. They are also first empirical evidence relating to an overview of financial development in an emerging country, so they are not only valuable to Vietnam but also crucial to other emerging economies.

• 인터넷정보학회논문지
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• 제21권3호
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• pp.61-70
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• 2020

The 4th Industrial Revolution is a revolutionary change through intelligence, big fusion and personalization, and the importance of sensor technology that is the basis of core technology is emerging. This study empirically analyzes the derivation of national strategy for R&D of sensor technology, and draws out the effect of technology internalization effort through strategic R&D activities on technical performance and further on national economy. The research and development results are calculated for each type of technology internalization, and the results of the research and development are verified to establish a structure that contributes to the national economic performance. As a national technology internalization strategy, considering its own R&D investment and joint research and development, we examine the impact of each factor on patents and GDP, focusing on causality and ripple effects. For causality analysis, Grandeur causality analysis shows that R&D investment and joint research and development in all countries have mutual causal relationship with GDP. The implications are as follows. First, it is necessary to establish the policy of national economic development through the internalization of technology and knowledge. Second, it is necessary to establish policies according to the type of knowledge internalization. Third, it will be necessary to create an ecosystem environment based on a virtuous relationship between knowledge internalization and national technology and economic development.

• The Journal of Asian Finance, Economics and Business
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• 제8권11호
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• pp.203-212
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• 2021

Theoretically, economic growth necessitates financial liberalization. Thus, the current research examines the effect of financial liberalization on economic growth in emerging nations, with a particular focus on Egypt and Saudi Arabia. To determine this effect, the study employs a model that uses Gross Domestic Product growth as the dependent variable and the following macroeconomic variables as financial liberalization indices: Broad money as a percentage of GDP, Domestic bank credit to the private sector as a percentage of GDP, Monetary sector credit to the private sector as a percentage of GDP, Net inflows of foreign direct investment as a percentage of GDP. All data is annual data of Egypt and the Kingdom of Saudi Arabia for the period 1970-2018 obtained from the World Bank open data website. The empirical investigation employs the Autoregressive Distributed Lag (ARDL) approach. The findings indicate that, after more than three decades of implementation, both countries' financial and external liberalization policies do not have a favorable effect on their economies' growth rates. Additionally, this study has led us to conclude that any financial liberalization policy in both countries must be preceded by the strengthening of these countries' financial development and institutional frameworks, as well as the achievement of macroeconomic stability.