• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.127-135
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• 2020

This study aims to measure the effects of real interest rate (RIR), gross domestic savings (GDS), and net exports (EN) shocks on Indonesia's economic growth (EG). The focus on Indonesia is unique due to the abundant resources available in the nation, but they are unsuccessful in boosting economic growth. This study applied a quantitative method to comprehensively analyze the correlation between variables by employing Vector Autoregression Model (VAR) combined with Vector Error Correction Model (VECM). Various procedures are preformed: Augmented Dickey-Fuller test (ADF), Optimum Lag Test, Johansen Cointegration Test, Granger Causality Test, as well as Impulse Response Function (IRF) and Error Variance Decomposition Analysis (FEVD). The data were collected from the World Bank and the Asian Development Bank from 1986 to 2017. The findings of the study indicated that economic growth responded positively to real interest rate shocks, which implies that when the real interest rate experiences a shock (increase), the economy will be inclined to growth. While, economic growth responded negatively to gross domestic savings and net export shocks. Policymakers are expected to consider several matters, particularly the economic conditions at the time of formulating policy, so that the prediction effectiveness of a policy can be appropriately assessed.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.69-81
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• 2021

The aim of this paper is to identify the key determinants in the Gulf Cooperation Council (GCC) countries for Foreign Direct Investment (FDI) inflows by using a balanced data panel for the period from 1995 to 2018. This study covers GCC countries in their entirety. The study uses ten explanatory variables, namely, trade ratio, gross domestic product, external balance, fuel exports, gross savings, international tourism, military expenditure, net foreign assets, services value added, and total natural resources. The authors have tried to find the best fit model from the differences methods considered such as OLS, GLS regression with the help of Hausman test, and country by country regressions as additional analysis. The study revealed a significantly positive association between inflation, trade ratio, gross domestic product, gross savings, and net foreign assets with FDI. On the contrary, international tourism was revealed to have a negative association with FDI. The sample of all GCC countries chosen for this study has not been considered widely by any earlier study. Moreover, this study covered many determinants of FDI that add to the previous literature. It is a significant contribution to the current research body and stresses the originality of this paper.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.543-549
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• 2021

The stock market plays a crucial role in the growth of industry and trade, which eventually affects the economy. This paper studies the determinants of stock market development in Jordan using yearly time-series data (1978-2019). The autoregressive distributed lag approach is applied to examine co-integration, while the vector error correction model is employed to estimate (long-run and short-run) causal relationships. The results show that macroeconomic determinants such as gross domestic product, gross domestic savings, investment rate, credit to the private sector, broadest money supply, stock market liquidity, and inflation rate are important determinants of stock market development. These findings provide vital implications for policymakers in developed and emerging stock markets. First, economic development plays an imperative role in stock market development. Second, developing the banking sector is mandatory because it can significantly promote stock market development. Third, domestic investment is a significant determinant of stock market development, especially in emerging countries. However, it is vital to launch policies that lead to encourage investment and promote stock market development, and this could be done through (1) encouraging competition, (2) improving the institutional framework, and (3) removing trade blocks by establishing a mutual connection between foreign private investment entities and government authorities.

• 농업과학연구
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• 제29권1호
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• pp.66-83
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• 2002

The economic feasibility analysis including benefit-cost ratio and internal rate of return of a land consolidation and on-farm development project was mainly depended upon the direct benefits and costs arising during project life. Therefore the projects were neglected in allocating the government's financial funds and loans on account of the low economic rate of return of the project. Accordingly the extended benefit-cost analysis method should be introduced and adapted to cover not only the benefit s such as non-market values of environmental and food security fun ct ions of the project but also market values of the project outputs. The main purposes of this study are (1) to prepare a guide line for economic feasibility analysis based on the IBRD and ADB guidelines, (2) to estimate the benefits from productivity increase, labor saving, savings of O&M cost of farm mechanization and project facilities, savings of farmer's burden for their public health, increasing environmental and public functional value of paddy fields, improving food security condition and formation of peaceful and uncontroversial rural society by implementing the land consolidation and on-farm development, (3) to introduce the newly adapted analytical method as the extended benefit cost analysis which could make possible to be included the values of non-market goods such as the food security and the environmental public function of paddy fields. To carry out this study, the existing publications on the guidelines for economic agricultural projects were reviewed and consultation was made with a For the post evaluation study of the land consolidation and on-farm development project, field survey in Jigok and other comparative area were made to get available information. According to the project completion report, Jigok land consolidation and on-farm development project has 55ha of benefit area out of 69ha of gross area. The project was started in November 11th, 2000 and completed october 30th, 2001. The total project costs were amounted to 2,548 million won and the annual project benefits were estimated at 335million won evaluated by domestic market prices. The ERR(Economic Rate of Return) and SRR(Social Rate of Return) of the project based on the shadow pricing system were estimated at 4.4% and 16% respectively. On the other hand, the ERR and SRR based on the domestic market value system were amounted to 6.37% and 14.62%. In conclusion, Korean land consolidation and on-farm development projects have not carried out from the view point of economic rate of return under shadow pricing system but from the view point of domestic pricing system. For the future feasibility studies on land consolidation projects have to be carried out including the non-market values as environmental and food security function of the projects.

• Journal of Preventive Medicine and Public Health
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• 제46권6호
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• pp.300-308
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• 2013

Objectives: The purpose of this study was to classify determinants of cost increases into two categories, negotiable factors and non-negotiable factors, in order to identify the determinants of health care expenditure increases and to clarify the contribution of associated factors selected based on a literature review. Methods: The data in this analysis was from the statistical yearbooks of National Health Insurance Service, the Economic Index from Statistics Korea and regional statistical yearbooks. The unit of analysis was the annual growth rate of variables of 16 cities and provinces from 2003 to 2010. First, multiple regression was used to identify the determinants of health care expenditures. We then used hierarchical multiple regression to calculate the contribution of associated factors. The changes of coefficients ($R^2$) of predictors, which were entered into this analysis step by step based on the empirical evidence of the investigator could explain the contribution of predictors to increased medical cost. Results: Health spending was mainly associated with the proportion of the elderly population, but the Medicare Economic Index (MEI) showed an inverse association. The contribution of predictors was as follows: the proportion of elderly in the population (22.4%), gross domestic product (GDP) per capita (4.5%), MEI (-12%), and other predictors (less than 1%). Conclusions: As Baby Boomers enter retirement, an increasing proportion of the population aged 65 and over and the GDP will continue to increase, thus accelerating the inflation of health care expenditures and precipitating a crisis in the health insurance system. Policy makers should consider providing comprehensive health services by an accountable care organization to achieve cost savings while ensuring high-quality care.

• 한국가스학회지
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• 제24권1호
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• pp.17-22
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• 2020

Naphtha Cracker Gas Splitter Unit 공정은 증류공정에서 얻어지는 경질납사(Light Naphtha)를 Furnace에서 열분해하여 나오는 유분을 각각 끓는점 차이에 따라 메탄, 에틸렌, 프로필렌 반제품등으로 순차적으로 분리한다. 이런 전통적인 분리방법은 2성분을 분리하는 증류탑을 연속으로 설치하여 생산한다. 이러한 분리방법은 Reboiler에서 발생하는 에너지가 증류탑 내부의 성분들을 분리하는 데 사용된 후 증류탑 상부 Condenser에서 응축열로 버려지기 때문에 에너지 낭비가 큰 것으로 알려져 있다. 본 연구에서는 납사 열분해공정내의 가스분리공정의 2개의 증류탑을 Petlyuk Column으로 설계하였다. 증류탑내 조성분포가 평형관계만으로 계산되는 이상단수 효율하에서 stage to stage 계산방법으로 구조적 설계를 하였고 일반 증류탑과 비교한 결과 제시된 Petlyuk Column의 설계방법이 기존의 설계 방법인 3-Column 모델법보다 설계 시간이 단축될 뿐만 아니라 증류탑내의 Liquid의 조성분포를 평형증류 조성곡선과 유사하도록 설계함으로써 에너지 효율측면에서도 효율적임을 증명하였다. 또한 같은 tray 단수하에서 Petlyuk Column은 일반 증류탑 대비 12.1% 에너지가 절약되어 국내 총생산량 기준할 때 하루 4,400만원 비용 절감을 가져오고 추가로 Condenser 및 Reboiler 사용량 감소에 따른 초기 투자비도 절감됨을 알 수 있었다. 12.1% 에너지가 절약될 뿐만 아니라 Condenser 및 Reboiler 사용량 감소에 따른 초기 투자비도 절감됨을 알 수 있었다.

• 한국지리정보학회지
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• 제25권1호
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• pp.77-100
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• 2022

저성장·고령화시대에 접어들면서 지방의 많은 도시들이 인구감소문제를 경험하고 있다. 생산인 력감소, 재정감축, 삶의 질 저하, 공동체 기반 붕괴 등 다양한 형태의 쇠퇴현상들이 연쇄적으로 발생하면서 지방소멸의 벼랑 끝으로 몰리고 있다. 본 연구는 저성장·고령화 시대 인구감소도시의 효율적인 공간관리 정책으로써 컴팩시티 계획을 적용하기 위해 공간통계기법과 GIS를 활용하여 도시 내 고용창출중심지 추정과 고용 권역을 설정하는 방법론을 제안하였다. 구체적으로 컴팩시티에 관한 선행연구 검토를 통하여 종사자수, 정주인구수, 개발용지 면적을 고려한 새로운 지표 '고용복합지수'를 정의하고, 국지적 모란지수와 핫스팟 분석을 적용하여 고용창출중심지를 추정하였다. 창원시를 대상으로 2013년, 2015년, 2017년, 2019년의 4개 년도를 사례분석을 실시하여 고용창출중심지의 압축된 다핵구조를 확인하였다. 이 결과를 바탕으로 지속적 도시 성장을 위한 산업중심 권역 설정과 컴팩시티 공간정책의 시사점을 제시하였다. 본 분석 결과는 지역활성화 플랫폼을 위한 기능적·제도적 권역 거버넌스의 기초자료로써 인구감소, 지역총생산, 에너지 절감에 대응할 수 있는 공공시설배치, 교통계획, 의료보건 계획 등 공간정책 의사 결정에 필요한 유의미한 정보를 제공할 수 있을 것으로 기대한다.