• Journal of Korea Port Economic Association
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• v.27 no.3
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• pp.161-177
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• 2011

Nowadays, a capital flow and intimacy of financial system among countries have been increasing in global financial environment. So it is easily possible that the risk of some countries which are in financial crisis infects other countries in the world. A recent global financial crisis reminds countries in East Asia of advancing the financial cooperation as well as financial integration. Countries in East Asia agreed with the Chiang Mai Initiative to prevent a recurrence of financial crisis in East Asia. A bilateral swap arrangement of the CMI has several purposes in order to offer foreign currency liquidity against economic crisis, remove the opportunity cost of foreign exchange reserve, push ahead the financial integration, increase the export-import logistics and so on. This paper analyzes the effect of financial cooperation in East Asia on the export-import logistics with random effect estimation and fixed effect estimation. As a result, each of country in East Asia is able to increase almost 10.3% of the export-import logistics on average.

• International Area Studies Review
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• v.14 no.1
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• pp.203-219
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• 2010

Nowadays an instability of the exchange rate on accounts of global finance crisis brings on a lot of an economic damage such as recession, decreasing of total trade and so on. However some countries which belong to be membership of the eurozone could escape economic slump shortly and easier than others. The reason for this is that they share with the Euro as a their own currency which is the second vehicle currency all of the world. This paper analyzes the correlation of joining the Euro zone and trade with pooled OLS, random effect estimation, and fixed effect estimation. A membership of the Euro zone are able to increase trade 11.3% ~ 25.3% one another on average since some country belongs to the Euro zone. It is very important for some countries which have a plan to affiliate the Euro zone sooner or later to realize economic effect because of a protection of the Euro zone as well as political power.

• Journal of the Korean Solar Energy Society
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• v.27 no.4
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• pp.175-182
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• 2007

Geothermal-energy has been getting popular as a natural energy source for green buildings these days. As a result Geothermal Source Heat Pump System (GSHPs) was being recognized effective alternative systems to conventional heating and cooling systems owing to their higher energy utilization efficiency. But GSHPs has not been popularized thereby the large amount of initial cost of the system and insufficiency of studies for economic estimation. Therefore GSHPs are being developed to make up for the weak points that are the large amount of initial cost of the system and much annual electricity consumption. In this paper, economic estimation was conducted by payback period method and it shows that the pay back period of Heat Storage Type GSHPs was calculated 6.8 years compared with the absorption Chiller-Heater system and 8.2 years compared with the Ice storage-Boiler system. Heat Storage Type GSHPs also has the lower annual source energy consumption than the conventional heating and cooling systems because of using nighttime electricity.

• Journal of the Korean Society for information Management
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• v.23 no.4 s.62
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• pp.111-128
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• 2006

The purpose of this study is to measure economic value of full-text information services in order to determine whether it is worth for libraries to invest a large amount of money in constructing database to begin with. The study applied an contingent valuation method to measure its economic value. The imaginary scenarios are designed for estimation the value of Non-market-goods, estimation in advance and experts investigation are needed for rising the confidence level, double-bounded dichotomous choice is chosen in question method. The use value, which one user is willing to pay for domestic monograph full-text information services, was 836 won per one monograph. And, the annual non-use value was 236 won. The total annual economic value of all the students was 831 billion won.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.571-579
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• 2020

This paper examines how human capital and other economic variables, such as private investment, economic growth, government investment, inflation, and unemployment influence inequality in Indonesia's provinces. We apply panel data model with fixed effect estimation for the data of 34 provinces from the period 2013 to 2019. We develop a new index for human capital using the education index approach. The results show that human capital has a negative and significant effect on income inequality. An increase in human capital is related to an increase in knowledge and competence due to the longer average school year and expectations of the school year. Human capital has increased the possibility of a person being accepted into the job market and earning a higher income; hence, it lowers income inequality. We also find that inflation leads to a higher gap of income distribution. A further implication of this situation is that the rise in inflation causes an increase in low-income people, and as a consequence, makes their lives worse off. This paper will be beneficial for policy-makers for whom human capital, which is measured using an education index, is an important factor that significantly affects income inequality, in addition to other economic factors.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.75-83
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• 2021

Variation in demand, natural resource availability, and technological advancement within a country are the main reasons for necessitating export and import activities between nations. Accordingly, this paper aims to analyze the effect of economic openness on Multifactor Productivity (MFP) in selected Asian countries (Vietnam, Thailand, The Philippines, Indonesia, Cambodia, China, Japan, Malaysia, South Korea, and Singapore) based on data for the period 1990-2018. The analysis conducted in the study employed the panel ARDL approach based on the estimation by Pooled Mean Group (PMG), Mean Group (MG), and Dynamic Fixed Effect (DFE). The Hausman test conducted indicates that the PMG estimation is better than that of MG and DFE since it has a higher variability value than the significance value. The results revealed that economic openness is able to elicit significant and positive effects on short-term and long-term MFP growth. In addition, the study established that other variable, such as the number of schooling years, are also able to produce a positive and significant effect on MFP growth in the long term. Since economic openness can impact MFP growth, every country should thus increase its export activities through more capital and worker inputs that will stimulate greater production.

• Journal of the Earthquake Engineering Society of Korea
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• v.27 no.6
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• pp.311-320
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• 2023

When an earthquake occurs, the severity of damage is determined by natural factors such as the magnitude of the earthquake, the epicenter distance, soil properties, and type of the structures in the affected area, as well as the socio-economic factors such as the population, disaster prevention measures, and economic power of the community. This study evaluated the direct economic loss due to building damage and the community's recovery ability. Building damage was estimated using fragility functions due to the design earthquake by the seismic design code. The usage of the building was determined from the information in the building registrar. Direct economic loss was evaluated using the standard unit price and estimated building damage. The standard unit price was obtained from the Korean Real Estate Board. The community's recovery capacity was calculated using nine indicators selected from regional statistical data. After appropriate normalization and factor analysis, the recovery ability score was calculated through relative evaluation with neighboring cities.

• East Asian Economic Review
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• v.24 no.1
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• pp.61-87
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• 2020

Five diffusion models are estimated using three different foreign exchange rates to find an appropriate model for each. Daily spot exchange rates expressed as the prices of 1 euro, 1 British pound and 100 Japanese yen in US dollars, respectively denoted by USD/EUR, USD/GBP, and USD/100JPY, are used. The maximum likelihood estimation method is implemented after deriving an approximate log-transition density function (log-TDF) of the diffusion processes because the true log-TDF is unknown. Of the five models, the most general model is the best fit for the USD/GBP, and USD/100JPY exchange rates, but it is not the case for the case of USD/EUR. Although we could not find any evidence of the mean-reverting property for the USD/EUR exchange rate, the USD/GBP, and USD/100JPY exchange rates show the mean-reversion behavior. Interestingly, the volatility function of the USD/EUR exchange rate is increasing in the exchange rate while the volatility functions of the USD/GBP and USD/100Yen exchange rates have a U-shape. Our results reveal that more care has to be taken when determining a diffusion model for the exchange rate. The results also imply that we may have to use a more general diffusion model than those proposed in the literature when developing economic theories for the behavior of the exchange rate and pricing foreign currency options or derivatives.

• Structural Engineering and Mechanics
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• v.47 no.2
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• pp.265-286
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• 2013

A study on economic performances of consecutive multi-span suspension bridges is carried out. In this part of the study, material amount and structural cost estimation formulas of the bridges is derived based on the structural ultimate carrying capacity. The bridge cost includes the part of superstructure and the part of substructure. Three types of bridge foundations, bored piles, concrete caissons and floating foundations, are considered in substructure. These formulas are to be used for the parametric study of the bridge cost in order to define its more economical layout under different conditions in the part two of the study.

• Proceedings of the Korean Association for Survey Research Conference
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• 2001.04a
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• pp.131-152
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• 2001

In this Era of Information and Localization, Gross Regional Domestic Product(GRDP) is recognized as indispensable informatin to establish regional economic policy. Especially, to raise Chungbuk provinece´s economical independence and to establish effectual regional economic development plans. Chungbuk province needs quarterly estimated GRDP for developing regional economic forecasting system. In this study, utilizing small area estimation is proposed to estimate the quarterly Chungbuk-GRDP provided by the Bureau of Statistics and nation´s GDP provid by the Bank of Korea exists. Moreover, from the nation´s quarterly GDP in each section of economical activity, this study has presumed the quarterly comovement, applied it to subdivide Chungbuk annual GRDP quarterly, and estimated quarterly Chungbuk-GRDP.