• 기술혁신연구
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• 제7권2호
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• pp.1-20
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• 1999

This paper investigates the effects of various R&D investments on economic growth empirically. To this end, the relationships between various R&D investments and economic growth are analysed, and the rates of return of R&D investments are estimated. Furthermore, the effect of government R&D investment on private sector R&D investment, and the effect of social factors, which affect the relationship between the R&D inputs and economic growth, are analysed. Based on the results of this analysis, a simulation model is developed, which shows the relationship between R&D investments and economic growth rate; this model is verified by analysing the correlation between the actual and the estimated economic growth rate, using the data between 1981 and 1995 of eight selected countries. The validation results show that the simulation model has sufficient accuracy to be used for evaluating and proposing R&D policies for the countries for which appropriate data is available. However, the time-lag effect, which is naturally believed to exist between the R&D input and the economic growth, could not be analysed in a mathematical form, because of the lack of the data to establish this relationship. Thus, when estimating the relationship between them, the time-lag effect in this relationship was included implicitly by using the data of fifteen years.

• 산업진흥연구
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• 제8권4호
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• pp.123-129
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• 2023

본 연구는 초고령사회에서 겪을 수 있는 노인에 대한 경제적 배제를 논의하고 이를 극복하기 위해 사회관계망 확충을 통해 노인의 인간관계만족도를 향상시키는 방안을 제안하고자 하였다. 본 연구 결과, 첫째, 경제적 배제를 극복하고 인간만족도를 향상시키는 방법은 그 대상에 있어서 여성에 대한 관심이 높아야 된다는 것을 암시하고 있으며, 고연령층, 저학력층, 저소득층에 대한 경제적 배제의 극복이 시급한 것으로 나타났다. 둘째, 사회관계망이 인간관계만족도에 미치는 영향을 조사한 결과, 여성일수록, 연령이 높을수록, 주소비처가 쇼핑일수록, 자녀와의 소통이 원활할수록 인간관계 만족도가 높아지는 것으로 나타났다. 따라서 사회관계에 대한 개선책이 요구된다고 볼 수 있다. 셋째, 경제적 배제가 인간관계 만족도에 미치는 영향을 조사한 결과, 여가활동이 친지 및 친척 방문일수록, 사회관계망 이용처가 유료시설일수록 인간관계 만족도가 낮아지는 것으로 나타났다. 따라서 여가활동과 사회관계망에 대한 개선책이 요구된다고 볼 수 있다. 넷째, 사회관계망의 매개효과를 조사한 결과, 소득영역에서의 배제, 노동시장의 배제, 주거복지의 배제를 항목으로 하는 독립변수인 경제적 배제가 종속변수인 인간관계만족도에 영향을 미치는 인과관계에서 사회관계망은 완전 매개효과가 있는 것으로 나타났다. 결론적으로 경제적 배제와 사회관계망은 인간관계만족에 영향을 끼치며, 경제적 배제가 극복되어 사회관계망이 개선될 때 비로소 인간관계만족도는 향상되는 것으로 나타났다.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.73-84
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• 2020

The study aims to investigate the dual effects of corruption control on economic growth in relationship with the stock market and trade openness in developing countries. The study used difference S-GMM method on the dynamic panel data model in the period (2002-2017) with data collected from the World Bank. The study discovers the dominant impacts of corruption control in the relationship with the stock market on economic growth. At the same time, the study also confirms the overwhelming impact of corruption control in the relationship between trade openness and economic growth in the developing countries. In addition, the study shows that inefficient stock markets in developing countries will not promote economic growth. Meanwhile, the long-standing credit market has a positive impact on economic growth. With the strong development of stock market and trade openness in the period (2002-2017), control on corruption in developing countries does not get better in time with the increase in demand. The findings of this study suggest a number of solutions to strengthen corruption control, leading to the increased efficiency on the stock market and as well as encouraging the positive effects of trade openness to contribute to promoting economic growth in developing countries.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.413-421
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• 2021

Government expenditure on education has attracted much attention because it plays an important role in the economic development. The question is whether government expenditure on education has a positive or negative impact on the economic growth and vice versa. This study aims to provide reliable estimates of the relationship between government expenditure on education and economic growth with empirical evidence in Vietnam for the period 2006-2019. The data was taken from the official statistics of the General Statistics Office of Vietnam. The authors have used the VAR model and Granger causal model to determine the relationship between government expenditure on education and the economic growth. Research results show that there is a two-way nexus between the economic growth and government spending on education with a lag of about two years. From the results obtained from this research, the authors have made some policy suggestions for the Vietnamese government as how to increase investment for education. If there is a one-way causal relationship between expenditure on education and the economic growth, the government can use spending as a growth factor. However, if there is a bi-directional relationship between the government expenditure on education and the GDP growth, the government needs to ensure that resources are appropriately managed and allocated effectively to promote growth.

• 대한안전경영과학회지
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• 제13권3호
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• pp.175-182
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• 2011

The purpose of this article is to suggest what is the desirable direction of economic relationship between Korea and China. The economic relationship between countries is based on how the present network is. As the economic relationship between countries grows, the network between countries will expand. In the past, the economic relationship between Korea and China is cooperative one from the viewpoint of international division of labor. Korean industries was focused on the value-added and mid-advanced technology products, while Chinese was focused on the labor-intensive products. As the China's economy grows for more than thirty years, there is a great change in China's economic policies and environment. China's industry structure is moving from the labor-intensive industry to technology-oriented industry. China's exports to the global market is increasing very fast, and China's domestic market is also growing. The change in Chinese industries' structure bring about severe competition in the global market. The expanding China's domestic market is also good opportunity as the new market in the world. The change in China's industrial structure needs for Korea to establish the 'New Network" between two countries. Korea has to grab the new opportunities in the China's domestic market and find new cooperative network with the products and industries.

• Asian Journal for Public Opinion Research
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• 제11권1호
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• pp.31-53
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• 2023

This study aims to investigate the relationship between human resource competency, economic potential, and productivity of village-based enterprises, as well as understand the role of governance in mediating this relationship. This study was conducted in several village-based enterprises in Bali, Indonesia and the data were collected using questionnaires. Furthermore, the collected data were analyzed quantitatively using partial least analysis to confirm the relationship between variables. The findings indicate that human resource competency has an impact on governance, but it failed to explain the productivity of village-based enterprises. In addition, economic potential can have an impact on the governance and productivity of village-based enterprises in Bali, Indonesia. This study also showed a robust link between governance and productivity. Lastly, based on the statistical analysis, it was found that governance can mediate the relationship between human resource competency, economic potential, and productivity of village-based enterprises.

• 한국생활과학회지
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• 제17권3호
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• pp.367-375
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• 2008

The purpose of this study is to examine the mediation effects of relationships of parent-child and between-peers based on the effects of economic difficulty on quality of life of elementary school students. Data was obtained from students (N= 493) at seven elementary schools in Choongbuk Province and analyzed with SPSS 12.0 and Structural Equation Modeling with AMOS 5.0. The major findings are as follows: economic difficulty gives a direct effect on elementary students' quality of life and is mediated with parent-child and between-peers relationships. Also, economic difficulty influences children's quality of life when a parent-child relationship is combined with a between-peers relationship. On the basis of these results, this study suggests that welfare centers and elementary schools have to teach students to have desirable sense of value. Also, schools need to provide education programs for parents to improve parent-child relationship and various activities for students to develop between-peers relationship.

• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.161-173
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• 2020

This study examines the nonlinear relationship between financial development and economic growth in Pakistan using the threshold regression model for the period 1980-2017. We also employed quantile regression with 0.25, 0.50, and 0.75 quantiles of conditional distribution. The quantile regression is based on minimizing of sum of squared residuals. The result indicates that economic growth responds positively to financial development when the level of financial development surpasses the threshold value of 0.151. However, when financial development lies below the threshold value (that is, 0.151), its impact on economic growth is negative. Thus, when financial development of Pakistan surpasses the threshold level, it contributes more towards economic growth since greater level of financial development contributes more to boosts economic growth. This finding reveals that economic growth reacts differently to financial development, and the relationship between financial development and economic growth is U-shaped in Pakistan. Among the other variables, physical capital, labor force, and government expenditure exert a positive effect on economic growth. Furthermore, inflation rate and trade openness have an insignificant impact on economic growth. The results of quantile regression also confirm the non-linear relationship between financial development and economic growth in Pakistan. The finding of this study suggests revamping of financial sector policies in Pakistan.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.665-675
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• 2020

The aim of this article is to investigate the relationship between insurance and economic growth at aggregate and disaggregate level for the period 1982-2018. Very few studies have been carried out in this field, with contradictory results and using an aggregate data while, according to different authors, an aggregate data might provide spurious results. The author used Ordinary Least Squares Regressions (OLS) and Granger Causality tests to explore the strength and direction of the relationship between insurance and economic growth at an aggregate level. To check the relationship at disaggregate level life insurance, marine insurance, and property insurance are regressed on trade openness and investment, respectively. Non-life insurance at an aggregate level plays a positive and significant role in promoting economic growth, but life insurance has an insignificant impact on the Pakistan economy. On the other hand, non-life insurances at a disaggregated level such as marine insurance negatively affect a vital part of economic growth, i.e., trade. At the same time, property insurance has a significant and positive role in boosting investment. Life, marine, and property insurance Granger cause economic growth, trade, and investment in a single direction. Nevertheless, is a bi-directional relationship between economic growth and non-life insurance.

• Journal of Korea Trade
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• 제25권1호
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• pp.18-33
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• 2021

Purpose - This paper investigates the causal relationship between logistics infrastructure development and the economic growth of Korea. Considering the industrial and economic structure of Korea, it is likely that logistics infrastructure is positively associated with the economic growth of the country. Design/methodology - The causal relationship between logistics infrastructure and economic development is estimated using Vector Autoregressive (VAR) and Vector Error Correction Model (VECM) considering long-run equilibrium between the two factors. To this end, a dataset consisting of 7 logistics infrastructure proxies and 5 economic growth indicators covering the period of 1990-2017 is used. Findings - It was found that causality, in general, runs from logistics infrastructure development to economic growth. Specifically, the results indicate that maritime transport is positively associated with the economic growth of Korea in terms of GDP and international trade. In addition, other modes of transport also have a positive impact on either the GDP or international trade of Korea. Originality/value - While existing studies in this area are based on either regional observations or a specific mode of transport, this study presents empirical evidence on causality between logistics infrastructure and the economic growth of Korea using a more comprehensive dataset. In addition, the findings in this paper can provide valuable implications for transport infrastructure development policies.