• 설비공학논문집
• /
• 제25권6호
• /
• pp.297-302
• /
• 2013

The ground source heat pump (GSHP) system has attracted attention, because of its stability of heat production, and the high efficiency of the system. However, there are few studies on the prediction method of the heat exchange rate for a horizontal GSHP system. In this research, in order to predict the performance of a horizontal GSHP system, coupled simulation with a ground heat transfer model and a heat exchanger circulation model was developed, and calculation of heat exchange rate was conducted by the developed tool. In order to optimally design the horizontal GSHP system, the flow rate of circulation water, and the depth and buried spaces of heat exchangers were considered by the case study. As a result, the temperature of circulation water and the heat exchange rate of the system were calculated in each case.

• Bulletin of the Korean Chemical Society
• /
• 제7권2호
• /
• pp.124-129
• /
• 1986

The effects of molecular attraction and orientations for the energy mismatch variance, vibrational energy level and double-quantum transition, in the vibration-vibration energy exchange, have been considered. The contribution of molecular attraction increases the exchange rate of the purely repulsive interaction, in general, significantly, but which becomes smaller as the temperature is increased. As the energy mismatch is increased, its contribution is also increased, but which is small. However, its contribution for the double-quantum transition is very paramount. At each orientation, the exchange rate constants have been calculated and compared with the results for rotational average, and it is found that the exchange rate is a strong function of the orientation angles of colliding molecules. We have also discussed about the system having the strong interaction such as the hydrogen bond, and it is found that for this system the preferred orientation should be considered in order to calculate the exchange rates.

• 유통과학연구
• /
• 제11권4호
• /
• pp.81-88
• /
• 2013

Purpose - This paper analyzes the influence of the RMB internationalization on the KRW/dollar exchange rate using an autoregressive distributed lag model. Comparing the parameter estimators from the sample period before and after the global financial crisis, we found that the RMB/dollar exchange rate has increasingly become more influential on the KRW/dollar exchange rate. Moreover, for the past several years, the Chinese government has actively utilized the financial service FTA negotiation as a measure for the RMB internationalization. This paper simultaneously considers RMB internationalization and financial service negotiations in the Korean-Chinese FTA. The purpose of this paper is to explicitly suggest a direction for the financial service negotiations in the Korean-Chinese FTA considering the effects of RMB internationalization. Research design, data, and methodology - The research plan of this paper has two parts. First, for an empirical study, this paper uses the daily exchange rate of the U.S. dollar against the currencies of the ASEAN5, Taiwan,and Korea. By using an autoregressive distributed lag model, this paper studies the influence of the change in the RMB/dollar exchange rate on changes in the local currency/dollar exchange rate in seven economies neighboring China. Our sample periods are 06/2005 - 07/2008 and 06/2010 -02/2013. During these periods, China was under the multi-currency basket system. We exempted the period of 08/2008 - 05/2010 from the analysis because there was nearly no RMB/dollar exchange rate fluctuation during those months. Second, after analyzing the recent financial service liberalizations and deregulations in China, we recommend a direction for the financial service negotiations in the Korean-Chinese FTA. In the past several years,the main Chinese financial policy agenda has surrounded the RMB internationalization. Therefore, it is crucial to understand this in the search for strategies for the financial service negotiations in the Korean-Chinese FTA. This paper employs an existing literature survey and examines the FTA protocols in its research methodology. Results and Conclusions - After the global financial crisis, the Chinese government wanted to break away from the dollar influence and pursued independent RMB internationalization in order to continue the growth and stability of its economy. Hence, every neighboring economy of China has been strategically impacted by RMB internationalization. Nevertheless, there is little empirical study on the influence of RMB internationalization on the KRW/dollar exchange rate. This paper is one of the few studies to analyze this problem comprehensively. By using a relatively simple estimation model, we can confirm that the coefficient of the RMB/dollar exchange rate has become more significant, except in the case of Indonesia. Although Korea is not under the multi-currency basket system but under the weakly controlled floating exchange rate system, its coefficient appears as large as that of the ASEAN5. This is the basis of the currency cooperation that has grown from the expansion of trade between the two countries. These empirical results suggest that the Korean government should specifically consider the RMB internationalization in the Korean-Chinese FTA negotiations.

• 무역학회지
• /
• 제44권1호
• /
• pp.17-30
• /
• 2019

This study is to investigate the effect of real exchange rate on bilateral trade balance between Korea and ASEAN 10 countries. Using quarterly data from 1991 to 2017 the paper analyzes whether or not the real depreciation of Korea's won could improve the trade balance in the short and long term. Based on Autoregressive Distributed Lag(ARDL) model, the empirical results show that trade balance, GDP, and real exchange rate are all cointegrated, representing the long-run relationship among variables. In the consideration of long-run relationship, the increases in ASEAN countries' GDP could have a negative impact and Korea's GDP positive impact on trade balance between Korea and ASEAN countries unexpectedly. For the main variable, the paper did not find the long-term effect of real exchange rate on the trade balance, for the short-term effect of the real exchange rate it was found that there exists the J-curve effect only in the case of Vietnam and Brunei. Therefore, these results imply that the intended policy concerning the exchange rate in the free-floating exchange rate system could be limited to improve the trade balance between Korea and ASEAN countries.

• 한국해양환경ㆍ에너지학회지
• /
• 제13권3호
• /
• pp.206-215
• /
• 2010

주문진항의 해수교환율을 증대시킬 목적으로 기존의 해수교환방파제에 원거리 방류가 가능하도록 다기수로를 설치하였다. 원거리 방류가 가능한 해수교환시스템의 성능을 평가하기 위해서 총 4개의 CASE를 선정하여 수리모형 실험과 수치모형실험을 실시하였고, 항내수역의 해수순환 양상과 해수교환율을 비교 및 분석하였다. 실험결과 기존의 해수교환방파제(CASE 1)를 통하여 유입된 해수는 정체수역의 발생으로 전체 해수교환율이 48%로 측정되었다. 반면, 원거리 방류가 가능한 해수교환시스템은 해수순환이 원활하지 않은 정체수역까지 외해수를 전달하여 CASE 2, CASE 3, 그리고 CASE 4의 경우 전체 해수교환율은 CASE 1에 비교하여 각각 19%, 15%, 그리고 17%가 향상되었다.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권1호
• /
• pp.23-36
• /
• 2021

The study explores the nexus between foreign direct investment (FDI), financial innovation, and exchange rate volatility in selected South Asian countries for 1980 to 2017. The study applies the unit root test, Autoregressive Distributed Lagged, nonlinear ARDL, and causality test following Toda-Yamamoto. Unit root tests ascertain that variables are integrated in a mixed order; few variables are stationary at a level and few after the first difference. Empirical model estimation with ARDL, Long-run cointegration revealed with the tests of FPSS, WPSS, and tBDM by rejecting the null hypothesis of "no cointegration." This finding suggests that, in the long-run financial innovation, FDI inflows, and exchange rate volatility move together. Moreover, study findings established adverse effects running from FDI inflows and financial innovation to exchange rate volatility in the long run. These findings suggest that continual FDI inflows and innovativeness in the financial system assist in lessening the volatility in the foreign exchange market. Furthermore, nonlinear ARDL confirms the presence of asymmetric cointegration in the model. The standard Wald test established asymmetric effects running from FDI inflows and financial innovation to exchange rate volatility, both in the long and short run. Directional causality unveils feedback hypothesis holds for explaining causality between FDI, financial innovation, and exchange rate volatility.

• 대한안전경영과학회:학술대회논문집
• /
• 대한안전경영과학회 2005년도 추계학술대회
• /
• pp.569-579
• /
• 2005

International capital movement has made progress at global liberalization of finance and foreign exchange, international monetary norm changing into floating exchange rate system, easiness of collection of information and trade at improvement of information communication technology from early of 1970's. Results of empirical test for relation between foreign exchange rate or various determination factors of foreign exchange rate and interest rate are followed by next sentences. First, according to relation between foreign exchange rate and interest rate, correlation for each of variables after OECD entrance is increased. 'But, long-term & short-term interest rate is affected by Hanbo & Kia's bankruptcy, continuous large scale coporates bankruptcy and crisis of foreign exchange. Therefore, financial instability is occured. If portfolio investment fund has been inflow as it is mollified by continuous shortage of foreign exchange and fall of country's credit rating, it is expected to have positive effect for long-term & short-term interest rate from appreciation of won against dollar. Second, results from relation between determination factor of foreign exchange rate and interest rate are followed by next sentences. If surplus of current account and goods account is continued, yield of corporate bond is to be stable. But, margin of surplus is expected to diminish after second quarter 98, and difference between external and domestic interest (after adjusting foreign exchange rate) is to be diminished. And if net inflows of foreign investor's fund (stock and bond) is diminished, it is to have negative effect for yield of corporate bond. According to foreign investor's investment movement of previous years, hedge fund were stayed at least during two years in Mexico. It means that sudden capital outflow is not to be happened at Korea.

• 수산경영론집
• /
• 제40권3호
• /
• pp.169-187
• /
• 2009

This study analyzes the long and short term effect of exchange rate on the import of Korea's fisheries focussed on main fisheries imported from China. The estimation models consist of the following contents. The first model consists of one dependent variable-import quantity of fisheries imported from China(${IMQ_t}^{CHO}$) and three independent variables-${RP_t}^{CHO}$, $EXC_t$ and $GDP_t$. The second one-one dependent variable-import quantity of fisheries imported from China(${JMQ_t}^{NAG})$ and three independent variables-${RP_t}^{NAG}$, $EX_t$ and $GDP_t$. the third one-one dependent variable-import quantity of fisheries imported from China(${IMQ_t}^{AH}$) and three independent variables-${RP_t}^{AH}$, $EX_t$ and $GDP_t$. the forth one-one dependent variable-import quantity of fisheries imported from China(${IMQ_t}^{KO}$) and three independent variables-${RP_t}^{KO)$, $EX_t$ and $GDP_t$. the last one is made up of one dependent variable-import quantity of fisheries imported from China(${IMQ_t}^{GAL}$) and three independent variables-, ${RP_t}^{GAL}$, $EX_t$ and $GDP_t$. and. The estimation results show that exchange rate of the independent variables are statistically significant in only the first model. The figure is elastic. Especially, the effect of exchange rate in first model is grater than that of the. However, the effect of exchange rate, one of independent variables in the ECM, is not statistically significant.

• Journal of Advanced Marine Engineering and Technology
• /
• 제21권4호
• /
• pp.372-380
• /
• 1997

This paper describes experimental investigations of helium-air exchange flows through parti¬tioned opening and two-opening. Such exchange flows may occur following rupture accident of stand pipe in high temperature gas cooled reactor. A test vessel with the two types of small open¬ing on top of test cylinder is used for experiments. An estimation method of mass increment is developed and applied to measure the exchange flow rate. A technique of flow visualization by Mach-Zehnder interferometer is provided to recognize the exchange flows. In the case of exchange flow through the partitioned opening, flow passages of upward flow of the helium and downward flow of the air within the opening are separated by vertical partition, and the two flows interact out of entrance and exit of the opening. Therefore, an experiment of the exchange flow through two-opening is made to investigate effect of the fluids interaction of the partitioned opening sys¬tem. As a result of comparison of the exchange flow rates between the two types of the opening system, it is found that the exchange flow rate of the two-opening system is larger than that of the partitioned opening system due to absence of the effect of fluids interaction. Finally, the fluids interaction between the upward and downward flows through the partitioned opening is found to be an important factor on the helium-air exchange flow.

• 동력기계공학회지
• /
• 제9권4호
• /
• pp.11-17
• /
• 2005

This paper reports an experimental study on the performance evaluation of air-to-air heat exchanger with rotary type newly developed in this study. Air flow rate is varied from 10 to 120 m3/h. The range of RPM of the porous rotating discs mounted inside the heat exchanger unit is 0 to 50. The temperature of the return air side is set by adjusting heat supply at heater. The material of the porous rotating discs is cooper and its thickness is 1.0 mm. The heat transfer rate increased with the increase in air flow rate. It was found that the heat transfer rate, as the temperature of the return air side was increased, was improved due to higher temperature difference. The heat exchange performance increased with the increase in the temperature of the return air side at the conditions of the same RPM. The sensible heat exchange efficiency was maximum 68 to 76 percent, and enthalpy exchange efficiency 64 to 74 percent.