• The Journal of Industrial Distribution & Business
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• v.15 no.5
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• pp.29-37
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• 2024

Purpose: Numerous prior researchers have identified only that sustainable management of ESG factors promotes business value creation and shapes enhanced innovation performance. This study aims to determine the positive relationships between ESG management and economic development, focusing on the mutual benefits and risks and the various stakeholders involved in managing change. Research design, data and methodology: This study selected the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) statement as a key methodology. Literature search used the following databases: Web of Science, Scopus, and Google Scholar. The quality assessment criteria for selected prior studies ranged from issues like design, sample size and the representativeness of the subjects, validity of measurements, and analytical strength. Results: The findings of this study indicates that there are four critical solutions for economic development triggers using ESG strategy, such as (1) ESG and Innovation-Driven Growth, (2) ESG and Human Capital Development, (3) ESG and Operational Efficiency, (4) ESG and Market Opportunities. This study insists that public-private partnerships are critical for enhancing sustainable economic development and meeting the needs of society. Conclusions: It is, therefore, important for governments and policymakers to play a critical role in setting the proper framework that allows for the uptake of ESG and an enabling environment for sustainable economic development.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.1
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• pp.111-121
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• 2009

This paper explores the financial aids for promoting businesses' growth and investment which the UK national government has implemented as a policy instrument for regional development. Especially, this work focuses on Small Firms Loan Guarantee, Community Investment Tax Relief for individuals and corporate bodies, and government-backed venture capital funds, all of which belong to the policy measures which pursue the growth of small and medium sized enterprises (SMEs) in UK. Concerning the promotion of SMEs' growth, I also discuss the policy implications of such measures for the Korean context.

• Journal of Preventive Medicine and Public Health
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• v.22 no.4 s.28
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• pp.528-541
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• 1989

The purpose of this study was to identify and measure the economic costs and benefits due to smoking in Korea. Cigarette smoking is a major cause of morbidity and mortality. In addition to the health risks of smoking, there are important economic consequences. A complete assessment of the economics of smoking requires evaluation of various health, economic, and intangible parameters, including benefits as well as costs of both the production and consumption of tobacco. In this article we focus on costs resulting from the health effects of smoking (expenditures for medical care and the value of productive output lost to morbidity, and premature mortality among smokers), since economic benefits from tobacco industry is offset by expenditures for purchasing tobacco. Two distinct methodologies will be applied to measure the economic costs of smoking cigarette, the human capital and willingness-to-pay approaches. This article used the former method. In 1985, total economic losses due to smoking was estimated as 505.7 billion won, which was composed of morbidity losses 64.9 billion won mortality losses 429.1 billion won and indirect costs 11.7 billion won.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.18 no.36
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• pp.349-363
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• 1995

The purpose of the study was to estimate and analyze the rates of return to educational investment. The study was designed to estimate the social and private rates of return to educational investment by school level and sex in order to measure education's economic value with a viewpoint of human capital theory. The produced result of this study are as follows. The social rates of return to education turned out to be male high school 7.94%, male junior college 3.74%, male university 8.50% female high school 4.30%, female junior college 10.11%, female university 6.92%. The private rates of return to education turned out to be male high school 8.41%, male junior college 3.39%, male university 8.38%, female high school 7.90%, female junior college 10.34%, female university 7.33%, In order to measure economic value of educational investment, rates of return to education were compared with those to physical capital investment. Social rates of return to education turned out to be profitable for female junior college, while for private rates of return to education turned out to be profitable in all school levels except for male junior college.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.10
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• pp.39-48
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• 2022

This research aims to investigate the application of Keynes's theory in Indonesia, particularly in solving unemployment and poverty problems through government spending, economic growth, and human resource capacity. The basic concepts of the Keynesian theory were used as a method, through which government spending was harnessed toward economic growth in reducing unemployment and poverty rate. The analytical materials used were panel data for the 2017-2021 period in Central Java, Indonesia. The analytical methodology used was a multiple regression experimental design in selecting the best model according to Keynes's theory, especially for overcoming formidable problems. The main results showed that large Government spending program is ineffective in encouraging pro-growth, pro-job, pro-poor, and pro-equity development policy strategies. The causes of this failure include the violation of Keynes' assumptions about rationality and the low quality of education investment, which do not encourage productive and innovative entrepreneurship, as well as self-employment opportunities. As a result, government spending, including subsidies and direct financial assistance, used to implement the macroeconomic monetary, unstructured, and fiscal policy system is insufficient to significantly reduce the enormous difficulties. The main research results confirm that human capital capacity is the key to mitigating and reducing unemployment and poverty.

• International Journal of Computer Science & Network Security
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• v.22 no.7
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• pp.29-34
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• 2022

The innovative process of digitalization and creation of innovation from an idea to its commercialization requires certain financial costs, labor and mental efforts. The amount of investment (corporate and public) is the most important imperative to enhance innovation and is traditionally considered as the main "input" indicators of the development of innovation infrastructure, in this case, the financial infrastructure of innovation. At the same time, the modern theory of innovation development assumes a systematic approach to the organization of innovation activity, which provides for the close interaction of several subsystems: human (including intellectual) potential, financial and technological capital, as well as relevant institutions and methods of regulation.. Thus, the main task of the study is to analyze the features of investment support for the process of digitalization of socio-economic systems in the context of strengthening international economic relations. As a result of the study, current trends and prerequisites of investment support for the process of digitalization of socio-economic systems in the context of strengthening international economic relations were revealed.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.4
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• pp.1621-1627
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• 2011

This study investigates both backward and forward multipliers of human capital in the field of information technology in order to evaluate human resources programs which were executed in the public sectors. Dynamic interindustry linkages analysis was employed as a methodology after classifying human capitals related to information technology into 9 industries. First, empirical findings showed that there are economic externalities in the IT HRD programs when the formation of human capital increases with more investment in them. Second, another finding was that the effect of HRD programs could be powerful when HRD programs were closely connected with R&D programs, showing that R&D programs among IT HRD programs have huge backward linkage effect. In addition, IT service sector has its own spill-over effect to other industries. Third, however, small budget and one off HRD programs should be considered as a negative price synergy effect. Finally, overall economic feasibility of IT HRD programs turned out to be excellent with consideration of their own economic direct and indirect effect.

• KDI Journal of Economic Policy
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• v.45 no.2
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• pp.51-69
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• 2023

Korea's population is aging at a faster pace than any other major country, and the adverse impact of this trend on the economy is predicted to be significant. This paper focuses on the macroeconomic effects of population aging with particular attention paid to the pace of aging in Korea. According to our analysis, it is difficult to offset the decline in the labor supply driven by rapid population aging, even if the labor force participation rate of the working-age population rises to a significantly high level. We suggest a re-orientation of policy directions to correspond to the behavioral changes of economic agents. Policies must focus on promoting labor force participation among the elderly while pushing towards human capital advancement and higher productivity.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.489-495
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• 2020

Income inequality is a problem that is not only faced by developing countries such as Indonesia, but also developed countries. The difference lies in the proportion of an inequality that occurs and the solution to the level of difficulty experienced. Thus, this study aims to empirically analyze the unequal distribution of population income in Java island, Indonesia, by including the human development index, open unemployment rate, foreign investment, and the degree of fiscal decentralization. The research model used in this study was multiple linear regression to analyze the panel data with a fixed-effect model approach. The results of the study showed that human development index, open unemployment rate, and the degree of fiscal decentralization had a positive and significant effect on income inequality in Java island. Meanwhile, foreign investment had a negative and insignificant effect on income inequality in Java. It is because the value of the investment is more invested in the capital-intensive sector. The government is expected to be more selective in accepting foreign investments that enter the country, especially in Java, and it should be labor-intensive investments. In addition, the government has to equalize locations for foreign investment without reducing good cooperation with these foreign investors.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.771-781
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• 2021

The purpose of this study is to identify major drivers of Myanmar's long-term economic growth and draw implications to implement development policies. This study investigated Myanmar, as the country is the most recently opened economy in Southeast Asia. This study conducted simulation analysis based on scenarios by applying World Bank's Long-Term Growth Model, Penn World Table 9.1, and World Development Indicator data. This study makes extensive use of LTGM and the LTGM-TFP extension to improve the validity of models for data calibration. This study confirms the validity of the model with data calibration and specifies scenarios for simulation analyses by setting the growth trajectory of Vietnam due to common geographical, political, and economic conditions. Main findings include that Myanmar's economic growth rate will continue to fall below 3% in 2040 without proper improvement of growth drivers. The results of this study also provide that total factor productivity growth and female labor participation are key factors for Myanmar's long-term economic growth. This study advises policymakers in Myanmar to strengthen human capital, which is crucial for total factor productivity growth in Myanmar's context and directly affects economic growth. Further, labor market policies to promote female labor participation is important to sustain economic growth.