• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.191-199
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• 2021

The study examines the causal relationship between financial development and economic growth through trade openness for the leading ASEAN countries (Indonesia, the Philippines, Malaysia, Singapore, Thailand, and Vietnam). The study employs a panel data for the period of 25 years spanning from 1995 to 2015 for the six countries, yielding a balanced panel of 150 observations. Fixed effect model (FEM) and random effect model (REM) are used for the panel data, following the Hausman test performed for model selection. The trivariate Granger causality test is also used to check for possible relationship between the variables. The results show that REM is chosen based on the Hausman test result, suggesting that the trade openness has a positive association with growth whereas the financial development is positively, but insignificantly associated with growth. The reason for this is that the financial development and economic growth may be related to each other. The results are, then, further explored and confirmed by the causality test. That is, the financial development and the economic growth, through the trade openness, are found to have bidirectional positive relationships. This implies that there would be shortcomings when ignoring the presence of trade openness, which positively impacts the relationship between finance and growth.

• 한국측량학회지
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• 제33권3호
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• pp.193-202
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• 2015

The greenbelt of South Korea has been under the process of adjustment and removal since its first designated year. This research is aimed at predicting the effect that the removal of the greenbelt has on urban growth. The SLEUTH model was executed via three calibration phases using historical data between 1990 and 2010. The urban growth of Busan Metropolitan City was predicted under its historical trend, as well as two different scenarios including development and compact development up to the year 2030. The accuracy of model, as verified by ROC, was 85.7%. The historical trend scenario showed the smallest increase, with the urban area expanding from 175.96 km² to 214.68 km² in 2030. Scenario 2, the development scenario, showed the most increase, with a 39.9% growth rate from 2010 to 2030. However, according to scenario 3, the compact development scenario, the urban area decreased in comparison to scenario 2. Accordingly, it is necessary to have effective urban growth management to provoke eco-friendly development on the removed areas, and to strengthen the non-removed areas for sustainable development. The results obtained in this study showed that the SLEUTH model can be useful for predicting urban growth, and that it can help policy makers establish proper urban planning as a decision-support tool for sustainable development.

• Food Science and Biotechnology
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• 제27권6호
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• pp.1865-1869
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• 2018

This study examined the effects of alfalfa seed germination on growth of Salmonella enterica. We investigated the population changes of S. enterica during early sprout development. We found that the population density of S. enterica, which was inoculated on alfalfa seeds was increased during sprout development under all experimental temperatures, whereas a significant reduction was observed when S. enterica was inoculated on fully germinated sprouts. To establish a model for predicting S. enterica growth during alfalfa sprout development, the kinetic growth data under isothermal conditions were collected and evaluated based on Baranyi model as a primary model for growth data. To elucidate the influence of temperature on S. enterica growth rates, three secondary models were compared and found that the Arrhenius-type model was more suitable than others. We believe that our model can be utilized to predict S. enterica behavior in alfalfa sprout and to conduct microbial risk assessments.

• STI Policy Review
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• 제2권2호
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• pp.11-24
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• 2011

S&T policy has been traditionally regarded as a sector policy; however, it is now evolving into an infrastructure innovation policy that forms the foundation of diverse types of policies. Simultaneously, environmental and energy policies formerly considered as sector policies are now being expanded and integrated into a higher level policy for sustainable development. With these changes underway, the importance of policy integration has increased. Efforts are being made to minimize contradictions between environmental, social, and innovation policies that emphasize proactive linkage among policies or place the highest priority on environmental policy following the theory of Environmental Policy Integration (EPI). Confronted with these policy changes, the Lee Myung-bak government announced "Low-Carbon Green Growth" in 2008 as national agenda for development that focus attention on environmental and energy issues. Economic policy and environmental policy have been traditionally seen in a conflicting relationship with different paths of policy development. However, the administration of President Lee is now emphasizing the synergy effects between the environment and economic growth with the concept of green growth. The green growth policy of the Korean government has great significance as it has built a momentum for incorporating social goals such as environmental values or sustainable development into economic growth-oriented policies; however, there remain many challenges due to the legacy of the development period that has dominated Korean society. The Korean government says it reflects "EPI" or "environmentalism" in policy goals; however, in reality it prioritizes development over the environment.

• 유통과학연구
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• 제18권1호
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• pp.71-83
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• 2020

Purpose: Because the energy consumption, economic growth and logistics development are still the heated topics which have attracted many scholars' interests. Therefore, this paper attempts to analyze the effect of logistics development on the economic growth, explore the effect of the economic growth on energy consumption and to discuss the effect of the logistics development on energy intensity. Research design, data and methodology: Using the panel data over the period 2000-2017 of 156 countries and employing the country & year fixed effect model, system generalized method moments and random effect model, the empirical analyses of this propositions are performed. Results: The empirical findings present that the logistics development is positively related to the economic growth. The energy consumption in the t-1 period and economic growth are positively related to the current energy consumption. The logistics development is negatively related to the energy intensity. Meanwhile, the empirical findings also indicate that there is a great difference about these effects among the four sub-samples (low income 18 countries, low middle income 49 countries, upper middle income 44 countries, high income 49 countries). Conclusions: Based on the evidences in this paper provided, we can find that these variables can affect each other.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.165-170
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• 2021

This paper examines the long-run relationship between financial development and economic growth. The effective function of financial development is crucial to promote the economic development of the country. To achieve the objective, this study used Gross Domestic Product as a dependent variable and Credit to The Private Sector, Ratio of the Gross Fixed Capital Formation to GDP, Trade, Consumer Price Index and Labour Force as an independent variable. Augmented Dickey-Fuller test statistic (ADF) to check the stationary. Bounds test for cointegration and Auto-Regressive Distributed Lag Models (ARDL) are used to check cointegrating relationship amongst the variables and causality between financial development and economic growth. Moreover, the Model selection method is Akaike Info Criterion (AIC). This result demonstrates that the labor force and trade hold a significantly negative relationship with economic growth. Nevertheless, inflation, Credit to The Private Sector, and Ratio of the Gross Fixed Capital Formation to GDP show a significantly positive relationship with economic growth. Therefore, there is a statistically significant relationship between Financial Development and Economic growth in Sri Lanka and the Sri Lankan government should reform its trade policies.

• KDI Journal of Economic Policy
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• 제45권4호
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• pp.23-56
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• 2023

To investigate the causes of Korea's growth slowdown over the past thirty years, we estimate the contributions of major developmental factors, including i) demographic factors (changes in population growth and workforce age due to the demographic transition), ii) quality-of-life-related choice factors (changes in working hours, education, and the female employment rate), iii) structural change, and iv) the effects of productivity catch-up. Our estimates show that these four groups of factors account for approximately 90 percent of the growth slowdown, with demographic factors contributing approximately 30 percent and the other three groups of factors each contributing about 20 percent. We also show that the same factors explain most of Korea's high growth in the 1980s. These results suggest that Korea's growth slowdown is basically a consequence of its successful economic development and that the high growth and subsequent slowdown can be regarded as a single process. In addition, given that the factors examined here exhibit similar patterns of change in the course of economic development of most countries, we think that our estimation results of the relationship between economic development and changes in economic growth trends could have more general implications that go beyond Korea's experience.

• KDI Journal of Economic Policy
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• 제42권3호
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• pp.1-32
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• 2020

This paper studies urban growth in Korean cities. First, I document that population growth patterns change over time and that the current population distribution supports random urban growth. I confirm two empirical laws-Zipf's law and Gibrat's law-both of which hold in the period of 1995-2015, but do not hold in the earlier period of 1975-1995. Second, I find a systematic employment growth pattern of Korean cities in spite of the random population growth. I examine market access effects on employment growth. Market access, a geographical advantage, has a significant influence on urban employment growth. The market access effect is higher in the Seoul metropolitan area than in the rest of the country. This effect is stronger on employment growth in the manufacturing industry compared to employment growth in the service industry. These results are robust with various checks (e.g., different definitions of urban areas). The results here suggest that policymakers should consider geographical characteristics when they make policy decisions with respect to regional development.

• KDI Journal of Economic Policy
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• 제45권1호
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• pp.33-68
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• 2023

The present article investigates empirically whether non-reciprocal trade preferences (NRTPs) offered by QUAD countries (Canada, the European Union, Japan, and the United States) to developing countries have helped to promote economic growth in the beneficiary countries. Two main blocks of NRTPs are considered here: Generalized System of Preferences (GSP) programs and other trade preferences programs. The analysis used a set of 90 beneficiary countries of NRTPs that are concurrently recipients of development aid over the period of 2002-2018. Using the two-step system generalized method of moments, the analysis indicated that while a higher degree of utilization of each of these two blocks of NRTPs has been associated with a high economic growth rate, development aid enhances this positive effect. This highlights the need for donors to support a development strategy based on the provision of both development aid and NRTPs if they are to help beneficiary countries to promote economic growth. Finally, when the positive economic growth effect of the utilization of NRTPs is higher, the result is a greater country's share of exports (under preferential tariffs) to QUAD countries out of their total merchandise exports.

• 한국어업기술학회:학술대회논문집
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• 한국어업기술학회 2001년도 춘계 수산관련학회 공동학술대회발표요지집
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• pp.319-321
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• 2001

Supply of ntrition-balanced feed is very important for growth of fish, especially for growth of early period of fish. Therefore, most of commercial feeds for larval and juvenile fish are relatively expensive due to high level of the several nutrients to satisfy their requirements for growth. Overfeeding larval fish may increase fish production cost because of larvae feeds high price and deteriorate water quality, eventually reduce growth of fish. (omitted)