• Journal of Digital Convergence
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• v.19 no.3
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• pp.161-166
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• 2021

The macroeconomic concept represents the movement of a country's economy, and it affects the overall economic activities of business, government, and households. In the macroeconomy, by looking at changes in national income, inflation, unemployment, currency, interest rates, and raw materials, it is possible to understand the effects of economic actors' actions and interactions on the prices of products and services. The US Federal Reserve System (FED) is leading the world economy by offering various stimulus measures to overcome the corona economic recession. Although the stock price continued to decline on March 20, 2020 due to the current economic recession caused by the corona, the US S&P 500 index began rebounding after March 23 and to 3,694.62 as of December 15 due to quantitative easing, a powerful stimulus for the FED. Therefore, the FED's economic stimulus measures based on macroeconomic indicators are more influencing, rather than judging the stock price forecast from the corporate financial statements. Therefore, this study was conducted to reduce losses in stock investment and establish sound investment by analyzing the FED's economic stimulus measures and its effect on stock prices.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.14 no.1
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• pp.70-77
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• 2021

This paper was reclassified industries related to the 4th industrial revolution into manufacturing, information and communication services, finance and insurance services, and science and technology services by comparing the industry association table with the Korean standard industry classification. And the economic ripple effect was analyzed by exogenizing the four sectors of the industry using a demand-driven model. The wholesale and retail and product brokerage services were measured to be large in the manufacturing, information communication services, and science technology service sector according as a result of analysis of the production inducement effect, added value inducement effect, and employment inducement effect. And the financial and insurance services were analyzed to be large in the financial and insurance services sector. The import inducement effect was analyzed to be the largest in all sectors of the fourth industry. As a result of the forward and backward linkage effect, it was confirmed that the manufacturing and the information communication services sector were the intermediate primary production type sensitive to economic fluctuations. Also it was confirmed that the financial and insurance services and the science technology services sector were the final primary production type.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.6 no.4
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• pp.173-194
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• 2011

This paper analyzes quantitative economic effect of accuracy improvement in location based services. This analysis is motivated from the situation that Korea Communications Commission is preparing the notification for 'location accuracy standard.' The analysis includes three level of impacts. Firm level analyzes the impact on revenue of firms. Social level additionally includes consumers' surplus in LBS industry. Lastly, economywide level includes ripple effects to another industries, which uses input-output analysis. The result of analysis shows that the economic value reaches to considerable amount and cost-benefit ratio is considerably high. The consumers' surplus is much larger than revenue increase. This result supports the intuition that many of location based services are for public interest and that the services have much externalities among firms and consumers. This means that the role of government is very important in the execution of accuracy improvement.

• Journal of Technology Innovation
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• v.31 no.2
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• pp.59-82
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• 2023

The purpose of this research is to conduct the empirical analysis of the short- and long-term causal relationship between public R&D investment, corporate R&D investment, and university R&D investment on economic growth in Korea. To this end, based on the time series data from 1976 to 2020, a causality test was conducted through the unit root test, cointegration test, and vector error correction model (VECM). As a result, it was found that there is a long-run equilibrium relationship between economic growth in Korea, public R&D investment, corporate R&D investment, and university R&D investment, in which a causal relationship exists in the long run. Also, while public R&D investment has a short-term effect on economic growth, corporate and university R&D investment does not have a short-term effect on economic growth. In addition, the results shows that there is a bidirectional causal relationship between economic growth and public R&D investment, corporate R&D investment and public R&D investment, and university R&D investment and public R&D investment in the short term. Through this research, it was empirically found that a highly mutual relationship exists between public R&D investment, corporate R&D investment, university R&D investment and economic growth. In order to increase the ripple effect of R&D investment on economic growth in the future, R&D investment between universities and corporations should be mutually promoted, and R&D investment by corporations should have a positive effect on public R&D investment so that public R&D investment can contribute to future economic growth.

• Analyses & Alternatives
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• v.4 no.2
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• pp.71-102
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• 2020

This study analyzes the effect of demographic changes on economic growth. We use the supply-side output identity to forecast the growth potential of the Korean economy. According to the results, even based on optimistic assumptions and prospects, the economic growth rate is likely to fall drastically starting in 2020. Of course, to maintain growth potential, efforts to increase productivity are necessary. However, given the historical experience of developed countries, it is not clear whether the huge trend of demographic change can be offset by efforts to increase productivity. In the so-called '30-50 club' countries, both labor productivity and growth rate tend to fall after reaching the per capita income of $30,000. The degree of decline in the growth rate is closely related to changes in the working age population and the prime-age workforce. The results are similar when tracking the path of changes in total factor productivities of the economy. When a certain level of income is reached, the increase in total factor productivity also tends to slow down. The ripple effects of rapid changes in demographics will indeed be extensive. The negative impact is likely to be concentrated at a time when the working age population, the prime-age workforce, and the total population shrink simultaneously. Above all, it is necessary to use the government's fiscal space to block the possibility of a rapid fall in the growth rate. In addition, it is important to continuously implement various reform tasks that should be promoted, such as improving the education system and strengthening the social safety net.

• Journal of Internet Computing and Services
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• v.21 no.3
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• pp.61-70
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• 2020

The 4th Industrial Revolution is a revolutionary change through intelligence, big fusion and personalization, and the importance of sensor technology that is the basis of core technology is emerging. This study empirically analyzes the derivation of national strategy for R&D of sensor technology, and draws out the effect of technology internalization effort through strategic R&D activities on technical performance and further on national economy. The research and development results are calculated for each type of technology internalization, and the results of the research and development are verified to establish a structure that contributes to the national economic performance. As a national technology internalization strategy, considering its own R&D investment and joint research and development, we examine the impact of each factor on patents and GDP, focusing on causality and ripple effects. For causality analysis, Grandeur causality analysis shows that R&D investment and joint research and development in all countries have mutual causal relationship with GDP. The implications are as follows. First, it is necessary to establish the policy of national economic development through the internalization of technology and knowledge. Second, it is necessary to establish policies according to the type of knowledge internalization. Third, it will be necessary to create an ecosystem environment based on a virtuous relationship between knowledge internalization and national technology and economic development.

• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.689-718
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• 2014

This study analyzes the ripple effects on the national economy of the flood damage using a perfect foresight dynamic CGE model for 2010 as the base year in case that the flood damage reduces the capital of the relevant industrial sectors. The analysis is limited to the items of physical damage such as agricultural land, ships and public facilities, for which statistical data can be obtained. As flood damage scenarios we adopt the minimum, maximum and average value of flood damage's historical data over the period 1991~2010 for each item. The results show that the largest production decline happens to the industry of fishing and transport and the next largest to the agricultural and forestry industry. The GDP reduction in the base year turns out to be from 0.001 to 0.057 percent compared to the benchmark and 11 percent compared to the exogenous shock to capital stock. Dynamically, the GDP gradually decreases until the year of 2030, which shows the long-lasting impact on the national economy of flood damage via the chanel of the capital damage.

• Journal of Korea Technology Innovation Society
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• v.21 no.4
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• pp.1296-1312
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• 2018

The wave of the Fourth Industrial Revolution was spreaded in Moon Jae-in Government. The efficiency of the R&D budget of government began to pay attention, the role of the National Science & Technology Information Service (NTIS) which provides all national R&D information in real time World's first R&D information portal has been emphasized. NTIS provides information on national R&D projects with their participating researchers, outcomes, and facilities & equipment through of information from each ministry and institution. NTIS supports to build science and technology policies, to enable transparent and efficient management of national R&D projects and to promote joint utilization of the R&D data among researchers and industrial utilization of the R&D data. NTIS provides since 2005. In this paper, I have analyzed the economic ripple effect of NTIS using the Input-Output model technique based on the input-output tables published by the Bank of Korea. When I set the NTIS R&D budget (about 120M$ for the last 13 years) as input coefficients, the effect on production inducement, value added inducement and employment inducement was analyzed by 211M$, 100M$ and 1,882 respectively.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.16 no.6
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• pp.49-62
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• 2013

As ten years have passed since national parks were adjusted and released inceptively, it is the time for evaluating the effectiveness of the national park policy and improving it on the basis of the evaluation result. In this study, the method of appraising the environmental and socio-economical ripple effect on the implementation of national park regulation were provided, based on the institutional consideration, the environment analysis, the survey of residents consciousness, the statistical analysis and so on. It is applied to target sites where were released from national parks, and the policy direction was suggested for sustainable use and management of national parks. National parks, that exhibit various characteristics depending on geographical and local conditions, were categorized through the statistical approach. Released sites from Seoraksan National park, where was categorized as the core national park for sustainable use and management, were evaluated environmentally based on the time-series analysis of environmental thematic maps and socio-economically based on the survey on residents perceptions. As a result of this study, the environmental effect of released sites has been declined or threatened, and the residents' economic, social and living condition in these areas are still not improved(p<0.05) since the adjustment of national parks. Based on the policy approach reflecting regional characteristics, natural resources are kept and enhanced for the sustainable use and management of national parks. And a consensus on the national park policy of national park should be developed between local residents and voluntary participation and public awareness should be attracted from them, based on the construction and the supplement of the infrastructure.

• Journal of Korean Society of Forest Science
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• v.106 no.2
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• pp.219-229
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• 2017

Forest road is an essential infrastructure for forest management such as the composition and management of forest resources, timber and forest byproduct production & transportation. It has recently been utilized forest recreation and forest sports as well as also forest pest control, forest fire prevention and evolution. When you build a forest road, the economic function in the forest is activated, so that it can result in the ripple effect of induced employment, value-added creation and production inducement. The purpose of this study is to analyze the impact caused by forest road construction occurring as the overall economy. For analysis it was applied to inter industry analysis method that is a method for analyzing the quantitative cross-correlation. The data were used in the Input-Output Tables In 2014, the Bank of Korea. When you build a forest road, economic effect due to the construction of the forest road is generated and economic effects are also generated due to the increase in the production of forest products after the construction of the forest road. Therefore, we will analyze the economic impact of the two effects. The estimated economic value of forest products, which is the economic effect of forest product cultivation, was calculated through some assumptions and the economic ripple effect was analyzed. The forest road construction sector is defined as land clearing and reclamation, and irrigation project construction and the forestry forest products sector is defined as the sum of raw timber, edible forest products and misc. forest products. In total, 32 sectors were classified, and except for the two sectors defined as forest road construction and forestry forest products, the remaining sectors were integrated according to the classification system of 30 integrated classifications of the Bank of Korea. As a result, the production inducement coefficient for forest construction was analyzed to be 2.767 and the production inducement coefficient for forestry forest products was analyzed to be 1.565. This means that 2,767 times the production of forest road construction investment is induced in the whole industry and the production of 1.562 times the amount of forestry forest products is caused by the whole industry as the production of forestry forest products increases. The value added inducement coefficient for forest road construction was 0.977 and the value added inducement coefficient for forestry forest products was 0.985. Forest road are essential infrastructure for forestry development and should be continuously invested because they are essential elements of timber production and forest byproduct production with functions such as forest management, forest recreation, forest sports, and town connection.