• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.143-149
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• 2020

Low inflation and sustainable growth have been the major macroeconomic goals being pursued by every developing country, Vietnam inclusive. The effect of inflation on economic growth has been intensively analyzed by a variety of studies, but the empirical evidence more often than not remains controversial and ambiguous. One common hypothesis of previous studies is that they have assumed that the effect of inflation on growth is symmetric. The main purpose of this study is to investigate the asymmetric effect of inflation and money supply on economic growth using the Nonlinear Autoregressive Distributed Lag approach introduced by Shin, Byungchul, and Greenwood-nimmo (2013) for Vietnam over the period 1990-2017. Empirical results provide evidence that the effects of inflation on economic growth are negative and asymmetric in the long run. The impact of money supply on growth is positive in both the short-run and long-run. Accordingly, the impact of the increase in the inflation rate is bigger than the decreasing in the long-run. This different impact is significant and high inflation will destruct economic activities. As a result, the study provides empirical evidence for the authorities to plan monetary policies and control the rate of inflation to achieve sustainable economic development in the long-run.

• Journal of Korea Trade
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• v.25 no.8
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• pp.25-44
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• 2021

Purpose - This research aims to provide empirical evidence that highlights the importance of imported intermediate goods in long-term economic growth. To this end, this paper develops an index that measures the productivity gains associated with a country's intermediate goods imports using highly disaggregated trade data. Design/methodology - The basic hypothesis is that countries sourcing higher-productivity (or higher-quality) inputs from developed economies derive a larger benefit from foreign R&D. To explore this hypothesis, standard cross-country growth regressions are performed using the highly disaggregated data from the United Nations (UN) Commodity Trade Statistics Database (COMTRADE). To address the endogeneity issue, I apply an instrumental variable (IV) approach. Findings - The results of this study demonstrate that the index predicts subsequent economic growth in middle- and low-income countries. This finding is consistent with previous studies that have argued that developing countries can achieve substantial productivity gains by importing intermediate inputs from developed countries. By contrast, there is no evidence of a significant association between the index and economic growth in high-income countries. Originality/value - This paper contributes to our understanding of the causal relationship between international trade and economic growth. From an economic policy perspective, the results suggest that developing countries with limited technology endowment can boost growth from input-tariff liberalization.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.151-162
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• 2019

The paper examines the effects of Foreign Direct Investment (FDI) on the economic growth of Lao People's Democratic Republic (Lao PDR) between 1993 and 2015. The investigation is based on the influence of growth and economic absorptive capability determinants such as human capital, trade openness, and institutional quality. The methodological analysis uses a multivariate framework accounting capital stock, labor stock, FDI, human capital, trade openness, and institutional quality in regression of the Vector Autoregressive model. Augmented Dickey-Fuller unit root test, Johansen Cointegration test, and Granger Causality test were applied as parts of the econometric time-series analysis approach. The empirical results demonstrate the positive effects of FDI and trade openness, and the negative effects of human capital and institutional quality on the economic growth of the Lao PDR over the 1993 to 2015 period. The findings confirm that trade openness complemented by a sufficient level of infrastructure, education, quality institutions, and transparency significantly influence economic growth and attract more FDI. Research results lend credence to the need for the Lao PDR's government to focus on improving its economic absorptive capability and economic competitiveness regionally and globally by improving wealth and resource management strategies, as failure to take this course of action could lead to the Dutch Disease effects.

• Journal of the Korean Regional Science Association
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• v.14 no.1
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• pp.47-64
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• 1998

This paper attempts to forecast regional economic changes and to analyze government polices for interregional balanced economic growth in case of Korea Reunification. It begins with be reunified at the year 2010. The model is largely neoclassical. Since the future of North Korea is unclear, two possible scenarios are presented. The paper projects economic growth of regions, specifically forecasting growth of regions, specifically forecasting GRDP, the number of migrants and the quantity of moving capital. The results obtained show that spatially unbalanced economic growth will take place in the reunified Korea through factor movement. Two polices including public capital provision policy and income subsidy policy are thus suggested and analyed.

• Korean Journal of Agricultural Science
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• v.49 no.1
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• pp.77-91
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• 2022

North-South Korea economic integration is progressing slowly given the sensitive responses to changes in internal and external conditions. Nevertheless, advanced discussions focusing on North-South Korean economic cooperation should continue. Given this background, various studies of the economic effects of economic integration between North and South Korea have been conducted, but research on agricultural issues has been limited. The purpose of this study is to analyze the impact of the economic integration of South and North Korea on the agricultural market. In this study, a simultaneous equation model was constructed using a growth model. Solow's growth accounting approach is used to construct a model for estimating the macroeconomic effect of North-South economic integration. Also, the construction of growth accounting formulas subdivided into South and North Korea as well as agriculture and non-agricultural fields during the construction of the growth model is a major research achievement and differentiates it from previous studies. It is expected that the results of this study will serve as basic information for preparing policy measures to promote integration. However, there are many limitations when estimating the economic effects of North-South agricultural integration and obtaining policy implications given the insufficient available statistical data on agriculture in North Korea and the lack of related studies in the agricultural field. Therefore, it should be noted that there is an inherent problem in that the analysis results vary greatly depending on the assumptions set, as there is inevitably no choice but to rely on many and strong assumptions.

• Asia Pacific Journal of Business Review
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• v.7 no.1
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• pp.23-47
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• 2022

Environmental pollution is becoming more and more serious, and people gradually realize the harmfulness of environmental pollution, so they pay more and more attention to environmental problems. Also, the conflict between environmental issues and economic growth, and the renewable energy consumption is increasing. The emergence of renewable energy in China has improved the problem of energy shortages and further protects the environment. This article studied the renewable energy resources and the status quo of development and utilization, examined China's renewable energy development countermeasures and suggestions, and conducted an empirical analysis of the effect of renewable energy on economic growth in China. The empirical research concluded that energy consumption and renewable energy consumption have a positive and significant impact on economic growth, and the driving effect of traditional energy on GDP growth is still greater than the driving effect of renewable energy on GDP growth.

• Korea Trade Review
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• v.47 no.6
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• pp.377-393
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• 2022

This study aims to identify the effect of growth of the land transportation industry on economic growth and to provide implications for Korea's metropolitan region policy. The effect of each metropolitan region on the integrated region where each metropolitan region is integrated is as follows. First, The integrated region where each metropolitan region was integrated with the Southeast region and the Daegyeong region had the greatest economic growth effect due to the growth of the land transportation industry in terms of value added, but the effect of the integrated region with the Chungcheong region was the least. In the case of capital such as roads, the integrated metropolitan regions with the Chungcheong region showed the greatest economic effect. However, the impact of the integrated regions with Jeolla region and the Seoul metropolitan region is insignificant. These results suggest that the synergy effect of metropolitan regional integration by spillover effect such as networks should be considered in the land transportation industry policy.

• International Journal of Internet, Broadcasting and Communication
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• v.15 no.4
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• pp.90-99
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• 2023

This paper deals with studying strategy about impact of deep learning (DL) on the factor of Korean economic growth. To study classification of impact factors of Korean economic growth, we suggest dynamic equation of microeconomy and study methods on economic growth impact of deep learning. Next step is to suggest DL model to dynamic equation with Korean economy data with growth related factors to classify what factor is import and dominant factors to build policy and education. DL gives an influence in many areas because it can be implemented with ease as just normal editing works and speak including code development by using huge data. Currently, young generations will take a big impact on their job selection because generative AI can do well as much as humans can do it everywhere. Therefore, policy and education methods should be rearranged as new paradigm. However, government and officers do not understand well how it is serious in policy and education. This paper provides method of policy and education for AI education including generative AI through analysing many papers and reports, and experience.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.1
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• pp.84-104
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• 2017

In this study, we divided Gyeonggi-do into Northern, Southern, Western, and Eastern Parts and found out fiscal variables which affected regional economic growth of each Part differentially. And we drew the strategy for economic growth of each Part. After we found out the variables which affected regional economic growth using fixed-effect model, we carried out causality test to determine whether a specific fiscal variable caused economic growth. In the Eastern Part, local tax revenues had a significant effect on the economic growth. Total expenditures, current expenditure in the Southern Part and social welfare expenditure, expenditure on industries, current expenditure in the Northern Part had noticeable effects on economic growth respectively. And we calculated multipliers of fiscal variables to compare the magnitudes of effects among these Parts.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.677-682
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• 2020

To investigate the nexus between urban population, gross capital formation, and economic growth in the Kingdom of Saudi Arabia, yearly data was collected from the World Bank for the period 1974- 2018. Basic statistics test and correlation matrix was used to investigate the causal effect among the tested parameters, followed by Augmented Dickey-Fuller (ADF) stationary test, co-integration analysis by Johansen test after that Vector Auto-Correction Model for both short-run and long-run and finally the Granger-Causality tests. Result of unit root test analysis shows that the urban population became stationary at I (0) level while economic growth and gross capital formation became stationary at I (1). Johansen co-integration analysis indicates that there is presence of both long-run and short-run relationship between the three variables in the Kingdom of Saudi Arabia. The result of the VECM Model reflects that both economic growth and gross capital formation have a negative impact on urban population in the short run. According to the Granger-Causality tests, there is unidirectional causality with the urban population by both gross capital formation and economic growth. Also, the result of the Granger Causality tests show that there is unidirectional causality between economic growth and gross capital formations.