• International Area Studies Review
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• v.20 no.1
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• pp.105-125
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• 2016

The expansionary monetary policy was practiced after 2001 in Japan to treat the deflation spiral, and reduced only the nominal interest rates and domestic household demand. One of the most serious factors for this failure was the change of private sector's expectancy. This paper has studied the effect of Japanese monetary policy in 21c., with empirical research based on a renewed macroeconomic model and the VAR. The empirical analysis shows that the effect of monetary policy on the national income during 2001.01-2015.03 is weaker than that of 1985.01-1994.04. Money volume has a diminutive effect on the growth of GDP within a short term after 2001. The change in the expectations of the private sectors might have been the cause of ineffectiveness of the expansive monetary policy. Economic agents learned from the past Japanese financial crisis that an expansive monetary policy increased the inflation rate and caused the 'bubbles to burst' afterwards. The VAR analysis says that the effectiveness of monetary policy on the economic depression declined over the past 20 years and the expansion of money volume has no influence on exchange rate and net export. This means that the expansive monetary policy lost its effect on net export and national income steadily. Monetary policy makers have to recognize this fact, and to consider another anti-cycle political instrument, i.e. the fiscal policy with government debt.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.273-280
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• 2021

The purpose of this study is to provide implications for fiscal policy by comprehensively examining the relationship between the on-campus retention and university soundness items of four-year private universities in the context of financial contraction of private universities due to suppression of tuition increase. Multiple regression analysis was performed to analyze the correlation of variables and the effect of financial soundness items on accounting indicators using SPSS 25. First, private university's on-campus reservations had an effect on accounting index items. Second, financial soundness items had an effect on accounting index items. Third, the financial condition factors influenced the change of accounting index by the location of the university. Fourth, according to the size of students, financial conditions had an effect on the change in accounting indicators. Government investment and support for private universities should be changed to a paradigm of securing finance through establishment of a development plan, rather than financial support through reduction of quota, and survival should be sought through income diversification policy strategies.

• Journal of the Korean association of regional geographers
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• v.20 no.2
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• pp.176-188
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• 2014

Since the late 1990s, a nationwide movement against dam and river-mouth weir plans in Japan has been promoted with a movement against a river-mouth weir for the Nagara river(長良川). This movement has been a catalyst for institutional frameworks on the central government's dam and river-mouth weir plans. Subsequently, water resource and river management policies have entered a new phase, with provinces governors's participation in "Statements on withdrawal from dam and river-mouth weir" as well as the seizing of power by the Democratic Party. However, problems with dams and river-mouth weirs have been confused due to poor countermeasures from the Democratic Party and to the Liberal Democratic Party(LDP)'s return to power. The fundamental causes on this situation are the non-establishment of fiscal norms for public projects and the rigidity of the water-right allocation system in Jananese policy-making processes. To successfully settle future policy on water resources and rivers, the first priority is to prepare specific institutional frameworks on finance of public projects and to organize a practical policy coordination system among government organizations. These policy tasks provide implications for river and water management policy in Korea.

• Informatization Policy
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• v.18 no.4
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• pp.42-58
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• 2011

This paper starts from one question: what are the key factors of the web accessibility policy, which is significant for realizing equity in the web and enhancing human dignity in the information society. To find significant factors for complying with web accessibility, this paper analyzes panel data of 16 Korean local governments (for five years: 2004-2009) according to the research design which is based on the demand and supply balance model and consists of four variables : 'legal and institutional environment (including legal infrastructure)', 'financial foundation (fiscal self-reliance ratio)', 'policy inputs (amount of imformatization budget, employee of information experts)'and 'policy demand (internet usage rate, the number of disabled people and elderly people)'. From the results of this study, this paper can explain the mechanism and impact factors on the web accessibility policy of Korean local governments. Some factors are critical to improve web accessibility: (1) the importance of policy demand, (2) the importance of policy inputs, (3) the importance of legal and institutional environment. Finally, this paper concludes with some suggestions to enhance the web accessibility capacity for Korean local governments: (1) improve awareness on web accessibility, (2) develop a standard and invest R&D on web accessibility, (3) foster experts in web accessibility.

• Economic and Environmental Geology
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• v.46 no.3
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• pp.235-246
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• 2013

The importance of R&D has been recognized around the world and Korean research funding has rapidly increased in recent years. As a results, interest in strategic R&D Investment is growing in both the public and private sectors. This study was carried out to find trends in the research projects of the KIGAM since the fiscal year of 1976. The KIGAM expended 1,193.3 billion won during the 36 years from the fiscal years of 1976 to 2011, which is 1,795.8 billion won calculated using the present value in 2011 at discount rate of 5%. R&D expenditure of KIGAM increased approximately 132.9 times from 885 million won in 1976 to 117,600 million won in 2011, and about 24.1 times from 4,882 million won in 1976, as calculated using the present value in 2011. The number of research projects increased about 6.75 times, from 28 projects in 1976 to 189 projects in 2011. Based on research trend analysis over the last 36 years, the percentage of research projects by research fields were as follows: mineral resources research, 39.5%; geologic environmental research, 28.8%; geological research, 15.6%; petroleum and marine research, 12.1%; and policy research, 3.1%. The percentage of the R&D budget dedicated to each type of research were as follows: mineral resources research, 33.1%; geologic environmental research, 25.6%; geological research, 22.8%; petroleum and marine research, 15.9%; and policy research, 2.1%. Allocation of R&D investment was determined by considering the governmental priority of such research, as well as which area were most promising. Based on the research projects trends within KIGAM and analyses of its R&D, we should build our R&D portfolio in the areas of geosciences and mineral resources.

• KDI Journal of Economic Policy
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• v.13 no.2
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• pp.41-67
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• 1991

Local autonomy of Korea's lower-level local council has been reinstated following elections last March for the first time in thirty years. Last June, we had elections for the upper-level local council. Mayors, governors, and administrative chiefs of cities, provinces and other local government bodies are slated for elections in the first half of next year. The impacts of local autonomy are taking effect in not only the political sphere, but also the administrative and economic spheres. In fact, it seems that some modification of all economic policy making and administration is inevitable. Since the initiation of local autonomy, in order to make the economy work more efficiently, it has become quite important to examine the impact of local autonomy on the national economy. The areas of local autonomy include independent legislative power, administrative power, organizational power, and most important of all, the independent public financial power of the local governments. The purpose of this paper is to examine the effects of local autonomy on the national economy and ways of enhancing the role of local public finance to facilitate settlement and development of the local autonomy system. Local autonomy will contribute to the continuous growth of our economy, allow balanced development, and generate greater efficiency. However, local autonomy can also incur economic costs causing at times short-term price instability, inefficient resource allocation, through tax competition and tax exporting, and insolvency of local government due to abusive fiscal operation. To reduce these side effects, different alternatives must be considered. Local autonomy systems generally provide more efficient resource allocation than centralization. But in the model used in Chapter 3 of this paper, the relative efficiencies of both local autonomy and centralization are determined by comparing the elasticity of substitution between national public goods and local public goods. If the elasticity of substitution is bigger than one, centralization provides a more efficient resource allocation. The development of local autonomy could be attained through democratization of the local public finance system including the following three propositions. I) The independence of public financial power of local governments should be established over central government. Furthermore, a democratically operated scheme of intergovernmental fiscal coordination is especially necessary. 2) In the operation of local finance, direct democracy is needed to induce the voluntary participation of local residents. The residents can take part in planning both the local budget and the development of the community. To attain this goal, all the results of local finance operations should be made public. 3) Among economic ill-effects of the local autonomy system, the most serious one is the possibility of insolvency of local governments. Therefore, measures to limit abusive spending by the local governments should be introduced, such as the fiscal restraints system adopted in the United States.

• Journal of the Korean housing association
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• v.21 no.5
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• pp.63-72
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• 2010

The purpose of this study is to evaluate the performance of Housing Service Centers in terms of a new attempt made by NGOs and to then determine the implication of collaboration with lower level local governments in a housing welfare delivery system. The evaluation of the performance of the Housing Service Centers focused on three aspects: the performance outcomes for three years, comparative advantages to lower level local governments, and the vulnerability as an NGO. As a result of evaluating the outcome of Housing Service Centers and comparative advantages of Housing Service Centers to the local government, it is expected that a more effective housing welfare delivery system is able to be constructed when Housing Service Centers and lower level local governments collaborate. However, fiscal vulnerability of Housing Service Centers as NGO's will restrict the sustainability of the collaboration of both organizations. Therefore, as a conclusion, this study proposed that the governments should make use of Housing Service Centers as a public policy agency and projects should be based on a contract.

• Environmental and Resource Economics Review
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• v.13 no.2
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• pp.245-269
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• 2004

While the role of local community is getting important in reducing greenhouse gases, current financial supports have not considered these efforts. Instead, development activities have been the only basis of fiscal distribution, which have led to unsustainable development. In this context, this paper analyzes the emission and absorb of air pollutants by local districts in Daegu Metropolitan city and constructs an empirical energy database for local energy use and environmental emissions. Based on the data, it prioritized environmental contribution by region through using MCDM methods, that include maximin & maximax method, simple additive weighting (SAW) and hierarchical additive weighting method (HAW). This concludes the possibility of policy methodology through which we can input environmental variables in distributing local budget.

• Korean Journal of Social Welfare
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• v.48
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• pp.359-402
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• 2002

In Korea we should prepare for the exploding need to nursing according to the rapid change to the aged society. Therefore the german model; of "Pflegeversicherung (a nursing social insurance)" which is introduced in 1995, could help us to plan for the aged society in next Years. In Germany the discussion about the proper measures against the need to nursing as social risk was begun in early 1990s. The need to nursing was thought as social risk because of the aged society, the burden of the family member who take the responsibility for the nursing, and the fiscal crisis of social assistance system which was caused to the exploding cost of nursing for the poor people. Among the some alternatives the "Pflegeversichrung" as a social insurance model! with the' pay-as-you-go system' was introduced step by step in the years of 1995 and 1996. Such german modell was possible on the basis of the stabil social insurance system, especially medical insurance system, the corporatism between the employer and the employee and the developed democratic political system in which the compromise is achieved at the cost of all concerned parties. In Korea we have no experience as like in Germany. But, in Korea, we can start more effectively to look after the possibility of any system which helps the people with need to nursing, when we have understood the factors in policy-making for the introduction of "Pflegeversicherung."

• Asian Journal of Business Environment
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• v.7 no.4
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• pp.5-9
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• 2017

Purpose - Many countries rely on currency depreciation or debt-financed government spending to stimulate their economies. Currency depreciation tends to increase net exports and aggregate demand but reduce short-run aggregate supply due to higher import costs. Debt-financed government spending increases aggregate demand, but the crowding-out effect due to a higher real interest rate may reduce private spending and aggregate demand. Therefore, the net impact of currency depreciation or debt-financed government spending on equilibrium real GDP is unclear. Research design, data, and methodology - This paper examines potential impacts of real depreciation of the ringgit, more government debt as a percent of GDP and other relevant macroeconomic variables on aggregate output in Malaysia. Results - Applying the AD/AS model, this paper finds that aggregate output in Malaysia is positively associated with real appreciation during 2005.Q3-2010.Q3, real depreciation during 2010.Q4-2016.Q1, the debt-to-GDP ratio and the real stock price, negatively affected by the real lending rate and inflation expectations, and is not influenced by the real oil price. Conclusions - Real depreciation of the ringgit after 2010. Q3 or sustainable expansionary fiscal policy would be beneficial to the economy.