• Iberoamérica
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• v.12 no.1
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• pp.241-265
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• 2010

The main purpose of this study is to reveal the historical origins of Latin American economic underdevelopment, by answering two research questions; 1)'Why is Latin America underdeveloped?' and 2)'How has colonial experience impacted on the economic growth in Latin America?' First, this essay analyzes long-term tendency of growth domestic product(GDP) per capita data. The data verify that current underdevelopment of Latin American economy is the result of economic stagnation during the eighteenth and nineteenth centuries, when Latin America suffered political and economic instability before and after the independence from Spain and Portugal. It elucidates that colonial experience affected on the economic growth in Latin America. Second, this essay reviews key independent variables of the relationship between colonial experience and economic growth in Latin America. To do so, the study categorizes extant literature into two groups according to the type of its independent variables: 1)internal factor and 2)external factor. Finally, the essay surveys the role of institutions in Latin American economic growth and development. The survey confirms that the importance of institutions in the study of Latin American economic history. In addition, the essay suggests some tasks for further research in Latin American economic history; 1)the construction of basic economic data, 2)the substantialization of the role and characteristics of institutions, and 3)the expansion of research on institutions which overcomes ideological rigidity of existing institutional approach.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.4
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• pp.168-176
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• 2014

The enterprise life cycle derived from the product life cycle consists of introduction, growth, maturity and decline. The enterprise tries to reach the growth stage early and stay at the maturity stage stably through expanding its businesses and investing for the new technology. The public enterprise is not different but its life cycle is more prone to be affected by the national development and policy. A typical example can be found in the case of the quasi market SOC public enterprise which spends massive amount of fund to provide social infrastructure. After the fulfillment of its mandated mission it is exposed to the pressure of a merger or a closure usually because large portion of the debt is directly linked to the national financial stability and credit ratings. This research is focused on the variables that influence the life cycle of the quasi market SOC public Enterprise for its future competitiveness is in connection with its normalization, advancement and rationalization. In this respect, categorical variables system centering on public characteristics and profitability drew eight categorical variables such as policy outcomes, public benefit, finance and business values etc.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.43-52
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• 2020

This paper examines how macroeconomic variables, such as interest rate differences, inflation, exchange rates, economic growth and external debt growth, affect capital flight in the ASEAN-8 countries. We apply a panel data model with fixed effect estimation for the data for eight countries from the period 1994 to 2018. We use the residual approach used by the World Bank to measure the value of capital flight. The results show that the interest rate differences, exchange rates, economic growth and foreign debt growth had a positive and significant effect on outward capital flight. A further implication of this finding is that the interest rate differences, exchange rate, economic growth and foreign debt growth are factors that trigger an increase in capital outflow in the ASEAN-8 countries. Nonetheless, inflation rate is not considered to be the main factor influencing capital flight, as average inflation in the ASEAN-8 countries remains relatively stable. This paper will be beneficial for policymakers in the ASEAN-8 countries and encourage them to constantly pay attention to these four variables, as they significantly influence capital flight, whereas they can disregard the impact of the inflation variable that is not significant in influencing capital flight.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.109-116
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• 2020

The study examines the nexus between financial development and economic growth in India during Q1: 1996 to Q3: 2018. This study employs time-series data of real GDP and ratio of broad money to GDP as a proxy for economic and financial development, respectively. The data are obtained from RBI database on the Indian economy. All variables are seasonally adjusted using X12-arima technique and expressed in natural logarithm form. Non-linear Autoregressive Distributed Lag (NARDL) bound test has been used to check for cointegrating relationship of these two variables. Empirical findings suggest that, unlike in the short run, in the long run financial development does impact economic growth positively. Further, a symmetric effect of positive and negative components of financial development is found for the Indian economy, whereas the effect of control variable like exchange rate and trade openness is in consonance with common economic intuition. Exchange rate is in consonance with intuitive economic logic that a fall in exchange rate makes exports cheaper and increases the quantity of export, which improves the balance of payment and leads to a rise in aggregate demand, hence improves economic growth. This paper contributes to the existing literature on India by breaking down financial indicator into positive and negative components to examine the finance-growth relationship.

• Research in Community and Public Health Nursing
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• v.30 no.3
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• pp.345-356
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• 2019

Purpose: The purpose of this study is to construct and test a structural equation model of posttraumatic growth (PTG) of earthquake victims based on Tedeschi and Calhoun's model (2004). Methods: Data were collected from 195 earthquake victims living in K. City. The exogenous variables include distress perception, resilience, and social support, and the endogenous variables include intrusive rumination, deliberate rumination, and posttraumatic growth. For data analysis, descriptive statistics, factor analysis, and structural equation modeling were performed. Results: The modified model showed a good fitness to the data. Moreover, 6 of the 9 paths of the final model were statistically significant, which include PTG affected by deliberate rumination (${\beta}=.58$, p<.001), resilience (${\gamma}=.18$, p=.001), and distress perception (${\gamma}=.20$, p=.002). These predictors explain 51.8% of variance in posttraumatic growth. Conclusion: Based on the results of this study, it is necessary to develop and disseminate preventive intervention programs to increase the resilience of earthquake-prone communities. In addition, after exposure to a community-scale traumatic event such as earthquake, we should provide social supports to alleviate distress perception and transition from intrusive rumination to deliberate rumination so that we can seek new meaning from the earthquake and facilitate posttraumatic growth.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.99-109
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• 2021

This study aims to examine the causal links between the fiscal components, i.e., government expenditures (GE) and government revenues (GR), and their impact on the economic growth of the Association of Southeast Asian Nations (ASEAN) region. This analysis considered secondary panel data from 1990 to 2019 at an annual frequency. The data is obtained from the Asian Development Bank (ADB) and World Bank Database. A panel cointegration and panel DH causality (Dumitrescu and Hurlin) approach was employed on financial data at an annual frequency from 1990 to 2019. The findings from panel unit root and panel cointegration tests demonstrate that, at first, all the variables are stationary and cointegrated. The panel ARDL disclosed that GE has a long-run connection with GDP, is significantly and positively associated with economic growth in the long run, whereas GR is significant in the short run. The contribution of GE is high in sustaining economic growth as compared to GR. Also, cointegration regression disclosed that GE is more sensitive toward GDP, while GR is less elastic. Lastly, the findings reveal that bidirectional causality exists between GE and GR variables. These results have policy implications for sustainable economic growth in the ASEAN region.

• Journal of Ecology and Environment
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• v.36 no.1
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• pp.31-38
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• 2013

Annual ring formation is considered a source of information to investigate the effects of environmental changes caused by temperature, air pollution, and acid rain on tree growth. A comparative investigation of annual ring growth of Cryptomeria japonica in relation to environmental changes was conducted at two sites in southern Korea (Haenam and Jangseong). Three wood disks from each site were collected from stems at breast height and annual ring growth was analyzed. Annual ring area at two sites increased over time (p > 0.05). Tree ring growth rate in Jangseong was higher than that in Haenam. Annual ring area increment in Jangseong was more strongly correlated with environmental variables than that in Haenam; annual ring growth increased with increasing temperature (p < 0.01) and a positive effect of $NO_2$ concentration on annual ring area (p < 0.05) could be attributed to nitrogen deposition in Jangseong. The correlation of annual ring growth increased with decreasing $SO_2$ and $CO_2$ concentrations (p < 0.01) in Jangseong. Variation in annual growth rings in Jangseong could be associated with temperature changes and N deposition. In Haenam, annual ring growth was correlated with $SO_2$ concentration (p < 0.01), and there was a negative relationship between precipitation pH and annual ring area (p < 0.01) which may reflect changes in nutrient cycles due to the acid rain. Therefore, the combined effects of increased $CO_2$, N deposition, and temperature on tree ring growth in Jangseong may be linked to soil acidification in this forest ecosystem. The interactions between air pollution ($SO_2$) and precipitation pH in Haenam may affect tree growth and may change nutrient cycles in this site. These results suggested that annual tree ring growth in Jangseong was more correlated with environmental variables than that in Haenam. However, the further growth of C. japonica forest at two sites is at risk from the long-term effects of acid deposition from fossil fuel combustion.

• International Commerce and Information Review
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• v.14 no.4
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• pp.27-47
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• 2012

The study aims to analyze how the variables for Korea, such as the exports, imports, FDI(Inward) and FDI(Outward), influence the economic growth and how they affect each other. For the purpose of empirical analysis, this paper used the quarterly time series data from 1980 to 2010, dividing the period before and after 1997(IMF). The variables used in this study were log-transformation from the original variables. This study empirically tests the relationship among variables by using VECM with considering the time-series properties of each variable. The results found from the study are as followings. Causality analysis using VECM proved that no causality between GDP and exports existed, whereas causality between GDP and FDI(Inward) existed, in which GDP affected FDI(Inward) since IMF. However, it was found that other periods and FDI(Inward) did not affect GDF and had no causality among them.

• Korea journal of population studies
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• v.14 no.2
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• pp.1-17
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• 1991

While various fiscal measures have been used to influence regional capital inflow or industrial location, the effect of fiscal variables on labor mobility has been little understood. Understanding the relationship between the composition of local public and urban migration would enhance the city govenment's ability to pursue an appropriate population policy. In order to examine the potential for local public finance to be utilized as a policy tool in directing urban population growth, this paper analyzes the impact of local government financial structure on urban migration. In examining the data on local government finance and the changes in population of Korean cities during the last ten years, it was found that cities with high per capita expenditure in regional development have experienced high population growth rates. In this study migration equations were constructed using various fiscal variables such as the proportion of special account expenditures which are mostly spent for local development purposes, per capita regional development expenditure, degree of local financial independence and per capita net fiscal benefit, along with other explanatory variables. The results of regression analysis showed that city government's regional development expenditure variables have a positive effect on urban net migration and a negative effect on outmigration. Fiscal independence and per capita net fiscal benefit had mixed effects on in and out migration variables, implying that local tax burden does not consistently deter inmigration or induce outmigration. Based on the results of this study some important policy implications can be found regarding local government's fiscal policies. Those cities seeking to attract higher population inflow should make a greater effort in appropriating local expenditures for regional development purposes such as infrastructure, housing, and transportation. city governments should not be too concerned about high local tax burden or necessarily seek to enhance financial independence for these factors do not exert a clear influence on urban population growth or labor supply.

• Korean Journal of Mathematics
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• v.28 no.3
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• pp.489-507
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• 2020

In this paper we discussed some growth properties of entire functions of several complex variables on the basis of (p, q)-𝜑 relative Gol'dberg type and (p, q)-𝜑 relative Gol'dberg weal type where p, q are positive integers and 𝜑(R) : [0, +∞) → (0, +∞) is a non-decreasing unbounded function.