• Title/Summary/Keyword: Economic and non-economic

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Benign Neglect or Malign Select?: Entry Cost to GATS/WTO

  • Sung, KeukJe
    • East Asian Economic Review
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    • v.22 no.2
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    • pp.117-140
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    • 2018
  • WTO was established in 1995 and as many as 36 new members joined WTO until December 2017. Thus it would be interesting to see if new members have committed higher or lower levels of market opening compared to the original members. In this regard, a sophisticated scoring scheme is needed to quantify market opening commitments. After proper econometric model is established for the original members, same model can be applied to the new members for comparison. It was found that new members committed a much higher level of commitment than the original members. In addition, it was also found that transition economies committed higher levels than the non-transition economies. More interesting finding is that among the new members, the larger the economies or the larger the trading volume are, the closer was the level of commitment to the predicted level. Then the question is whether this difference was due to benign neglect by the new members or due to malign select by the original members.

Foreigners' Short Selling in the Korean Stock Market around the Financial Crisis

  • Sang B. Hahn;Sehoon Kwon;Yeongseop Rhee
    • East Asian Economic Review
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    • v.27 no.2
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    • pp.145-176
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    • 2023
  • This paper investigates short selling behavior, particularly by foreign investors, during event days of non-normal times on an intraday basis in the Korean stock market around the global financial crisis. Although, in the several subsamples, we cannot exclude the predatory short-selling possibility, we did not find any conclusive evidence of abusive short selling behaviors in the overall intraday trading activities. While foreign investors demonstrate higher levels of participation in short-sale trading, their impact on price declines is not as pronounced compared to the effects of pure selling. Following the lift of the short-sale ban, foreign investors appear to engage in long selling trading more frequently, and their influence on price changes primarily stems from long selling rather than short selling compared to the past.

A Study on the Distribution of Compensation for Damages of Common Property Fisheries by Alternative Cost Approach of Utilizing Fishing Ground (어장이용의 기회비용접근법에 의한 공동소유 어업권의 손실보상금 분배연구 - A어촌계의 미역양식어업권의 취소보상액 분배사례를 중심으로 -)

  • 김기수;강용주
    • The Journal of Fisheries Business Administration
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    • v.34 no.1
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    • pp.9-30
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    • 2003
  • This paper tries to suggest a rational proposal for the distribution of compensation of common property fisheries damages caused by a large scale coastal reclamation. For the purpose the paper introduces the approach of alternative cost of the use of fishing ground. The background of the paper is the legal conflict between tenants and non-tenants, both of whom are common owners of seaweed cultivation ground, in the distribution of compensation for damages. In principal, so far as the seaweed cultivation right is a common property of the fishing association, the compensation is also a common property of it. Therefore the distribution method of the compensation entirely depends on the decision of the association. But in case that the numbers of non-tenants is larger than those of tenants, the distribution of the compensation is usually unfavorable to the tenants even though the latter is the key contributor to the realization of present value of the common property. The paper aims to show an appropriate distribution method based on the economic principle of optimal distribution. In others words, the value added to the economic value of alternative use of the fishing ground should be distributed to the tenants. the value amount of alternative use of the fishing ground should be equally distributed to the members of the association.

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Comparison of Nutrient Intake and Metabolic Syndrome between Single Person Households and Non-Single Person Households in Elderly Subjects - From the Sixth Korea National Health and Nutrition Examination Survey (KNHANES, 2013~2015) - (노년층 1인 가구와 2인 이상 가구의 영양소 섭취 및 대사증후군 유병률 비교 - 제6기 국민건강영양조사(2013~2015년) 자료 이용 -)

  • Choi, SuBin;Kwak, Jung Hyun;Chung, Hye-Kyung;Kang, Hae Jin;Paik, Jean Kyung
    • The Korean Journal of Food And Nutrition
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    • v.33 no.3
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    • pp.322-330
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    • 2020
  • The purpose of this study was to investigate the comparison of nutrient intake and metabolic syndrome between single person households and non-single person households in elderly subjects. We analyzed data from 2,903 subjects ≥ age 65 who participated in the Korea National Health and Nutrition Examination Survey (KNHANES) 2013~2015. As a result, single-person households had lower income and economic ability, overall nutrient intake was deteriorated, and the proportion of high-carbohydrate intake was high, compared to non-single person households. After adjusting for potential confounders (sex, age, education, household income, economic activity, smoking status, alcohol consumption, walking frequency, health status, depression status, and dietary factors), the single-person household showed a tendency of 1.22-fold higher ORs of metabolic syndrome and 1.3-fold higher ORs of hypertriglyceridemia than the non-single-person household. We suggest that the single-person household may be associated with increased prevalence of metabolic syndrome and hypertriglyceridemia in the elderly subjects.

The Effects of Non-Recourse Mortgages on Default Risks and Households' Surplus

  • RHEE, KEEYOUNG
    • KDI Journal of Economic Policy
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    • v.40 no.3
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    • pp.69-89
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    • 2018
  • We study whether a default option attached to non-recourse mortgages improves borrowers' surplus from mortgage financing. By defaulting on mortgage debt, borrowers can save their non-collateralized income from being foreclosed. In exchange, borrowers must forgo non-monetary surplus from retaining any collateral. Banks may charge a high mortgage rate due to increased default rates. We find that the interest rate of non-recourse mortgage decreases with the borrower's surplus from home ownership. Moreover, non-recourse mortgages benefit only borrowers who deem housing property as an investment asset. Hence, the transition to a non-recourse mortgage is detrimental to welfare if the borrower enjoys a large surplus from home ownership. Although the borrower privately knows how much surplus she enjoys from home ownership, a menu of non-recourse mortgage contracts may exist, yielding a separating equilibrium without information rent.

The Changing Patterns of Demand-Supply and Role of Mineral Resources in Economic Growth during Industrialization of the Republic of Korea (한국공업화과정(韓國工業化過程)에서의 광물자원(鑛物資源)의 수급구조변화(需給構造變化)와 경제성장(經濟成長)에 있어서의 역할(役割))

  • Yun, Suckew
    • Economic and Environmental Geology
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    • v.18 no.1
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    • pp.65-92
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    • 1985
  • A total of 12 mineral commodities significant in domestic output, economy and/or strategy of the Republic of Korea are chosen to examine the structural changes in production and demand-supply of these minerals during the last two decades of her industrialization. These include iron and manganese ores as the raw materials for iron and steel making, copper, zinc and tungsten ores among other non-ferrous metallic minerals, limestone (cement), kaolin, talc, pyrophyllite and graphite among other non-metallic minerals, and anthracite coal as the only domestic source of fossil energy. These are reviewed historically in time-series based on the statistical data which are tabulated and graphed in terms of domestic output, export, import, apparent demand-supply, its increasing rate, and self-sufficiency rate of each commodity. The increasing rates of demand-supply (IRDS) of some more important commodities are compared with those of Gross Domestic Production (GDP) and Economic Growth Rate (EGR) to evaluate how the IRDS contributed to the GDP and EGR. The major results revealed are as follows: Among the 12 commodities, the domestic output of 8 commodities appeared to have grown with steady upward trends: they are ores of lead, zinc and tungsten, limestone (cement), kaolin, talc, pyrophyllite and anthracite coal. Two commodities, ores of iron and copper, continued with unchanging or slightly declining trends and varied fluctuations, in spite of their cardinal importance to the heavy industry and strategy of Korea. The remaining two, graphite and manganese ore, have gradualy declined in domestic output in which the former has still enough resource potential but the latter has not and virtually ceased its domestic output. Trade patterns for mineral commodities in the Republic of Korea during the last two decades have changed greatly, being marked by a shift from mineral-exporting to mineral importing, mainly because of increasing consumption of mineral raw materials for industrialization rather than beceuse of decreasing output of domestic mineral commodities in quantity. In terms of trade patterns, the 12 commodities concerned in this study can be classified into the following four groups. The 1st group - ores of lead and tungsten have only been exported without imports. The 2nd group - amorphous graphite, and pyrophyllite have mainly been exported but partly been imported. The 3rd group - kaolin, talc and crystalline graphite have equally been exported and imported, but quantity of imports have rapidly been increased with time. The 4th group - ores of iron, manganese and zinc have shifted from exports to imports during the industrialization, particularly owing to the initiation of iron and steel making by the Pohang Iron and Steel Company in the middle 1970' s and the new establishment of the Onsan Zinc Refinery in the late 1970' s. All of the 12 commodities under considerations were far above 100% in self-sufficiency rate before or in the early 1960' s. Recently, however, most of them have been declined to below 100% except for those of limestone (cement) and pyrophyllite. It is particularly serious to identify that the self-sufficiency rates of the three important metallic minerals, iron, copper and manganese ores in 1982 appeared to be 5.1%, 0.5%, and 0.01%, respectively. The average self-sufficiency rate of the total domestic minerals produced in 1982 was 14.4% (in value) for that year. Mining industry appeared to be extremely high in its intermediate demand rate whereas its intermediate input rate to be quite low indicating that mineral raw materials have been exerted strong forward linkage effects upon the other industries rather than backward linkage effects. In comparing the curves of increasing rates of demand-supply of several major minerals - iron ore, manganese ore, copper ore, limestone (cement), kaolin, and anthracite coal - with those of Gross Domestic Production and Economic Growth Rate drawn on every graph, it is clearly shown that the curves of increasing rates of demand-supply comprise around 6 to 7 periods of cycles which roughly harmonious with those of the curves of GDP and EGR, except for the curve of anthracite coal of which the configuration seems to have resulted from the (artificial) government's mineral policy rather than from economic free market mechanism. The harmonic feature of these curves well suggests that the increasing rates of demand-supply of major minerals have been significantly contributed to the GDP and EGR. In addition, the wider amplitudes of the iron, manganese and copper curves than those of the limestone (cement) and kaolin curves indicate that the contribution of the former, metallic commodities, has been greater than that of the latter, non-metallic commodities.

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Income Inequality Decomposed by Age, Period and Cohort Effects: A Comparison of the Capital and Non-Capital Regions (연령, 시간, 코호트효과를 고려한 소득 불평등: 수도권과 비수도권 간 비교)

  • Jeong, Jun Ho
    • Journal of the Economic Geographical Society of Korea
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    • v.23 no.2
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    • pp.166-181
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    • 2020
  • This paper attempts to compare and analyze the intensity, trend, and regional gap of income inequality, capitalizing upon the Age-Period-Cohort model which considers age, time and cohort effects, with the 1998-2018 Korea Labor Panel (KLIPS) survey data for respondents living in the Capital and Non-Capital Regions. The main analysis results are as follows. First, in the case of both cohort and age effects, those in their 50~60s, including the so-called baby boomers and '386 generation' living in the Capital Region, have relatively lower income inequality effect compared to that of other age groups and cohorts in the Non-Capital Region. Second, the micro-individual characteristics cannot be ignored to account for a regional gap in income inequality, but rather the effects of structural and institutional omitted variables and the social discrimination effects of individual characteristics variables are more significant in explaining it. Overall, intra-and inter-cohort income inequalities appear to overlap.

A Research on Quality of Life and Cost of Oriental Medical Care in Adult Patients with Chronic Atopic Dermatitis in Korea (성인 만성 아토피 피부염 환자의 삶의 질과 한방 치료비용에 대한 고찰)

  • Kim, Nam-Kwen;Oh, Yong-Leol;Seo, Eun-Sung;Lee, Dong-Hyo
    • The Journal of Korean Medicine Ophthalmology and Otolaryngology and Dermatology
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    • v.23 no.1
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    • pp.215-223
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    • 2010
  • Objective : The aim of this study is to assess the impact of chronic atopic dermatitis (AD) on quality of life (QoL) as well as the economic burden associated with oriental medical treatment on adult patients with chronic AD in Korea. Methods : The EQ-5D health states, existence and duration of AD in the 2007 National Health and Nutrition Examination Survey (NHANES) were used to obtain the study subjects. A questionnaire including the questions on direct medical and direct non-medical costs associated with oriental medical treatment for adult patients with AD was specifically designed. Twenty-nine, members of the Korean Oriental Medical Ophthalmology, Otolaryngology and Dermatology Society (KOMOODS), completed the questionnaires. Results : The incidence of AD was around 3.09% in 2007 NHANES (sample survey, n=2981). Three months and above in duration of disease was 1.35%. The QoL data revealed as follows: 0.932 in non-chronic AD, 0.916 in chronic AD, and 0.908 in non-AD. We also stratified our analysis by age. The QoL data in 40's was statistically significant (P<0.023). But, no significant differences were reported in 20's, 30's, and 50's. The total direct medical costs of oriental medical treatment for AD was about 2,560,717 Won, and total direct non-medical costs was about 605,125 Won in a year. Conclusions : This study might be applied to find the evidence of economic evaluation in oriental medicine for AD. More rigorous studies are warranted.

The associated factors with subjective oral symptoms experience in obesity adolescent (비만 청소년의 주관적 구강증상경험 관련 요인)

  • Park, Sin-Young
    • Journal of Korean society of Dental Hygiene
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    • v.17 no.5
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    • pp.757-767
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    • 2017
  • Objectives: The purpose of this study is to identify the associated factors with subjective oral symptoms experience of obesity adolescents. Methods: The study subjects were targeting 8,139 obesity adolescents and 55,601 non-Obesity adolescents who completed 2016 Korean Youth Risk Behavior Web-based survey. Dependent variables were subjective oral symptoms experiences of fracture teeth, pain, throbbing pain, periodontal pain & bleeding, mucosal disease and bad breath. Independent variables were demographic characteristics of the subjects, oral health behaviors, health behaviors and eating habits. Results: Obesity adolescents were 12.8% with 61.9% subjective oral symptoms experience. Regarding the related factors of subjective oral symptoms experience of obesity adolescents, the factors were identified to be significantly higher in high school (OR=1.72) compared to middle school, learning achievement was higher in middle (OR=1.09) and lower (OR=1.31) compared to high, economic status was higher in lower (OR=1.09) compared to high, sealant experience (OR=1.10) and scaling experiences (OR=1.12) responded no were higher compared to responded yes, smoking experiences responded yes(OR=1.08) were higher compared to responded no, sweet drink (OR=1.14) and fastfood (OR=1.13) consumption were higher in consumption compared to non-consumption and females (OR=0.46) were higher than males. Oral symptoms experience were lower that father and mother's level of education were under high school graduation (OR=0.86) compared to unknown, economic status was in case of middle (OR=0.93) compared to high, tooth brushing was lower in under 1 time (OR=0.76), 2 times (OR=0.61) compared to more than 3 times, vigorous physical activities responded no (OR=0.75) were lower, compared to yes, vegetable consumption was lower in non-consumption (OR=0.68) compared to consumption. Conclusions: Subjective oral symptoms experiences were identified higher in obesity adolescents than non-obesity adolescents. It would be useful to use the results of this study to reduce oral symptoms and necessary to develop a program system considering characteristics of obesity adolescents.

The effect of entrepreneurial motivation on the entrepreneurial performance focusing on potential entrepreneurs and entrepreneurs: Mediating role of entrepreneurship (창업동기요인이 예비창업자와 기창업자의 창업성과에 미치는 영향 : 기업가정신의 매개효과를 중심으로)

  • Lee, Byeong-Gweon;Jeon, In-Oh
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.9 no.6
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    • pp.213-230
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    • 2014
  • Increasing unemployment rate and creation of new jobs are most important issues around the world recently. Then many developed countries, including Republic of Korea, establish and enforce a variety of start-up activation policies to increase employment rate and boom up the national economy. Establishing linkage of entrepreneurship motivation, entrepreneurship, entrepreneurial intention and firm performance, focusing on potential entrepreneurs and entrepreneur, it could provide personalized and targeted entrepreneurial policy programs to increase entrepreneurship, because entrepreneurship is the most important factor to activate startups. On this study, it established factors of entrepreneurial motivation on potential entrepreneurs and entrepreneurs, and analyzed the linkage of factors of entrepreneurial motivation, entrepreneurship, entrepreneurial intention(potential entrepreneurs) and firm performance(entrepreneurs). For analysis, this study conducted descriptive statistics, reliability analysis, factor analysis to verify validity, correlation analysis, and regression to analyze influence between factors. Potential entrepreneurs group has 202 samples, and findings show self-efficacy, social network, economic status and government policy influence on entrepreneurship positively. And self-efficacy, startup education, economic status and government policy have a positive effect on entrepreneurial intention, too. Entrepreneurs group has 212 samples, and findings show self-efficacy, social network and economic status influence on entrepreneurship. And each linkage has a positive effect, that self-efficacy - financial and non-financial performance, startup education - financial and technological performance, social network - financial performance, economic status - financial and non-financial performance, and government policy - financial and technological performance.

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