• International Journal of Computer Science & Network Security
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• v.21 no.12
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• pp.309-315
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• 2021

The purpose of the article is to analyze the functioning of economic systems in the context of the development of their potential in a circular economy. It is determined that the functioning of economic systems to ensure their sustainability should meet modern challenges and provide for the formation of competitive institutional architecture, the introduction of structural and regulatory innovations, the transition to an innovative model of development. The specific principles of functioning of economic systems include openness, nonlinearity, multivectority, dynamism, emergence, uncertainty about the development of economic processes. It is substantiated that the linear nature of development and equilibrium are not dominant in the functioning of economic systems, and increasing the level of economic efficiency should go hand in hand with minimizing the activities of enterprises, which necessitates the use of circular economy. The main prerequisites for the transition to a circular economy are analyzed. It is determined that the basic concept of the circular economy involves the development of a system of production and consumption, which is based on processing, reuse, repair, product sharing, change of consumption patterns and new business models and systems. The main elements of the circular economy include: a closed cycle, the use of renewable energy sources, systems thinking. The correlation of the principles of sustainable development and the peculiarities of the application of the circular economy is analyzed. It is determined that the circular economy contrasts with the traditional linear economic model, which is based on the model of "take-do-consume-throw away". The advantages and disadvantages due to the use of the principles of circular economy are given. Based on the study, steps are identified to accelerate the transition from a linear economy to a circular economy.

• World Technopolis Review
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• v.6 no.2
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• pp.102-112
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• 2017

In this increasingly globalised and rapidly-changing world, the various challenges that can arise are also increasingly globalised and complex. These may range from economic, environmental, societal or even demographic challenges. Solutions should therefore be applicable world-wide, but they need to be properly adapted to the specifications and needs at the regional and country level. This implies that past models of centralised innovation can be progressively substituted by new approaches based on openness and strategic collaboration between the various players involved. There are various models of openness and collaboration in research, development and innovation creating scientific networks at different levels. This paper is designed in a way to present the concept of smart specialisation and clusters and how they are linked and contribute to the support of Smart Specialisation Strategy in the Asian countries. The following paragraphs describe how smart specialisation is applied and the importance of clusters in developing a S3 strategy. In addition, the status of cluster policies in Asia as well as the steps towards S3 are also presented. The status of cluster policies and their steps towards S3 policies in Asia are described. The approach of China to adopt S3 in their R&I policy is also presented. The scope of this paper, is to demonstrate the policy framework of cluster and S3 policies in the region of Asia and how they are applied. China has been further analysed as a case, since they are more active in applying such policies.

• Journal of Korean Society of Rural Planning
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• v.25 no.4
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• pp.151-159
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• 2019

The aim of this paper is to identify the characteristics of social economy in social farming practices, and to explore three core factors of experiment, openness and locality, which have a significant impact on the working-mechanism of social innovation. Though a few social farming practice appear nowadays in Korea, it can be witnessed social economic factors such as cooperation between networks and solidarity actors, pursuing social values in social farming. On the basis of the conceptual framework on the social economy characteristics, this study examines case analysis in order to find the possibilities as a social innovation of the social farming. Three farms perform multiple functions of care, labour integration, training in farming area, and sometimes make collaboration work with artists and local residents. Social farming can be social innovation practices in the view of the interaction of experiments, openness and locality within the context of an innovation process, networking, enhancing social capital.

• Proceedings of the KSR Conference
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• 2008.06a
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• pp.199-205
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• 2008

The monorail system as new transportation system mostly has being constructed as an elevated construction and the track beam as mostly main work type occupy the important parts. The structure of monorail system, the track beam support directly vehicle's load and comprised of the track beam structure to be traveling side and understructure to be transmitted from their load to the ground. In particular, in case of construction to elevated structure in the center of a city, it is important to decision plan for span to be considered the economic, execution and maintenance according to transport, installation, and the structure problem, scene and civil appeals to be decided the beam elevation and span. Therefore the standard span of monorail track beam shall be considered the efficient execution, economic and transportation. And propose to reasonable decision plan incorporated the minimizing the road occupied width due to openness to center of a city and bridge pole, minimize to basis size.

• East Asian Economic Review
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• v.23 no.3
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• pp.311-329
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• 2019

Since China's opening to international trade, the rapid growth of the country's export sector has been coupled by an intensification of migratory outflows of ethnic Chinese. The literature has already stressed the beneficial role of migration in enhancing bilateral trade. The present paper applies a gravity model in order to capture the impact of migration on Chinese exports for a relatively long period of time (1995-2017) where significant developments take place. We estimated four regressions, each of them confirming the positive network effects of migration for boosting export growth. Apart from the main finding, it appears that the role of institutional and geographical proximity can prove to be complementary for trade enhancement. The results finally suggest mixed effects due to the countries' import openness, indicating that China's free trade agreements acts as a substitute for smoothing trade competition from third countries.

• East Asian Economic Review
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• v.25 no.2
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• pp.151-174
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• 2021

This paper empirically examines whether and how inward foreign direct investment (FDI) affected industrial productivity in Korea during the 2000-2016 period, based on dynamic panel data of inflow FDI on an arrival basis from 427 manufacturing industries. The paper adds to the literature by analyzing whether both technology spillovers and industrial restructuring from inward FDI can differ according to industrial characteristics such as capital intensity, imported intermediate inputs, and tariffs. The empirical results show that the overall effects of inward FDI on total factor productivity (TFP) were statistically insignificant in general. However, the positive effects of inward FDI on productivity became statistically significant for industries with lower tariffs. Capital intensity were not involved in the relationship between inward FDI and productivity. Thus, the paper highlights that the results in previous studies with inward FDI on a notification basis were overestimated and inward FDI policies in Korea should focus on channels such as trade liberalization and the redistribution of production factors rather than capital accumulation.

• East Asian Economic Review
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• v.25 no.2
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• pp.175-203
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• 2021

Over the past decades, financial markets have been integrated across countries while income inequality has increased in most countries. This paper studies the effect of financial market integration on income inequality and investigates whether this effect varies with the degree of financial market development. We find empirical evidence that financial market integration and financial market development interact to change income inequality. Specifically, the effect of financial market integration on income inequality is nonlinear, and the degree of financial market development plays an important role. Opening financial markets worsens income inequality in the countries holding the underdeveloped state of financial markets, however, the effect of capital account openness on income inequality is statistically insignificant in the countries with developed financial markets.

• Asia-Pacific Journal of Business
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• v.10 no.1
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• pp.1-11
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• 2019

Asian countries have been striving for economic integration for decades. This effort may lead to the convergence of income level through externalities across countries. This paper investigates whether the convergence phenomenon holds for income levels in Asian countries for the periods between 1975-2015 applying the traditional methodology of ${\sigma}-$ and ${\beta}-convergence$. Although the absolute ${\beta}-convergence$ of income levels in Asian and ASEAN+3 countries do hold, ${\sigma}-convergence$ and conditional ${\beta}-convergence$ of income level generally do not exist. This suggests that the benefits of economic integration in Asian countries were not yet realized to be significant. A plausible explanation is that the economies of Asian countries are largely based on low trade openness and a high level of informal economy.

• International Journal of Computer Science & Network Security
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• v.21 no.2
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• pp.181-187
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• 2021

The purpose of this study is to examine empirically the short- and long-run determinants of entrepreneurial activity in a sample of 15 the Middle East and North African economies between 2006 and 2018. More specifically, four groups of determinants are considered in the analysis, namely economic, demographic, business environment, and institutional. Given the autoregressive feature of the entrepreneurial activity process, a dynamic panel data model is estimated using the system GMM estimator. Findings reveal that unemployment, trade openness, population density, and economic freedom are the main drivers of new business creation in the short-run, while the cost and number of procedures to start a new business negatively affect entrepreneurship. In the long-run, the same findings hold true. Moreover, education and political stability and the absence of violence/terrorism positively affect entrepreneurial activity. Policy recommendations are accordingly designed.

• East Asian Economic Review
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• v.28 no.1
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• pp.95-140
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• 2024

This study empirically investigates the international transmission of China's uncertainty shocks. It estimates a time-varying parameter Bayesian global structural vector autoregressive model (TVP-BGVAR) using time series data for 33 countries to evaluate heterogeneous international linkage across countries and time. Uncertainty shocks are identified via sign restrictions. The empirical results reveal that an increase in uncertainty in China negatively affects the global economy, but those effects significantly vary over time. The effects of China's uncertainty shocks on the global economy have been significantly altered by China's WTO accession, the global financial crisis, and the recent US-China trade conflict. Furthermore, the effects of China's uncertainty shocks, typically on inflation, differ significantly across countries. Moreover, Trade openness appears crucial in explaining heterogeneous GDP responses across countries, whereas the international dimension of monetary policy appears to be important in explaining heterogeneous inflation responses across countries.