• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.77-88
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• 2021

The stock markets in the BRICS (Brazil, Russia, India, China and South Africa) countries are the leading emerging markets globally. Therefore, it is pertinent to ascertain the critical drivers of stock market development in these economies. The currrent study empirically investigates to identify the linkages between stock market development, key macro-economic factors and institutional factors in the BRICS economies. The study covers the time period from 2000 to 2017. The dependent variable is the country's stock market development and the independent variables consist of six macroeconomic variables and five institutional variables. The study employs a panel cointegration test, Fully Modified OLS (FMOLS), a Pooled Mean Group (PMG) approach and a heterogeneous panel non-causality test.The findings of the study indicate co-integration among the selected variables across the BRICS stock markets. Long-run estimations reveal that five macroeconomic variables and four variables related to institutional quality are positive and statistically significant. Further, short-run causalities between stock market capitalization and selected variables are detected through the test of non-causality in a heterogeneous panel setting. The findings suggest that policymakers in the BRICS countries should enhance robust macroeconomic conditions to support their financial markets and should strengthen the institutional quality drivers to stimulate the pace of stock market development in their countries.

• East Asian Journal of Business Economics (EAJBE)
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• v.6 no.2
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• pp.28-48
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• 2018

Purpose - This study is to analyze the assessment of forming of a payment balance of the country and its condition. Data array were used the data on the Russian Federation from the 1995-2016, across Great Britain - since the 2004- 2014 and in the retrospective aspect since the 1946. Research design, data, and methodology - The payment balance is a ratio of payment amounts made this country abroad and the receipts received by it from abroad for a certain period; it is the systematic list of all economic transactions performed for a certain period of time between the residents of one country and the nonresidents. The scale of research on Russia: to be analyzed the amount of data from the 1995 by 2016. On Great Britain - the 2004-2014, on South Korea - the 2017. Results - Hypothesis 1. The detailed and simple systematization of balance sheet items increases the efficiency of analytical procedures and the mechanism of public administration. Hypothesis 2. The main of balance sheet items are deficit of Russian Federation scarce which, are generally counterbalanced with gold and foreign exchange reserves. Conclusions - Considering the items of balance of payments of the studied countries in the context with other countries, it can be noted that the dynamics of the main items are closely linked with the main macroeconomic indicators and reflects the main tendency of the state development. The main items of balance sheet of South Korea's are intensive. The relatively stable dynamics in the macroeconomic indicators is observed in Japan and China

• Korean Business Review
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• v.21 no.2
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• pp.137-170
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• 2008

This study is presenting the logistics strategy in the international logistics markets which makes competition and corporation among north-east Asian countries to establishing the multi-pass Eurasian railroads. The countries located in north-east area of Eurasia like China, Japan, Russia and Korea are paying higher costs and disutility to the transportations and communications due to repeated conflicts and confrontations causes from the politic problems. They are being used surface transportation for most of all logistics between Europe and Asia except special merchandises because of characteristic of cargo to be air, the Silk Road remains vestige only which was main logistic passage to this area since BC. So far the Trans-Siberian Railway is being used by Russia mostly as north of Eurasian transport because of difficulties of service. The Trans-China Railway built in 1992 is not accomplishing as a international logistic passages. It is expected to take a long lead time because of characteristic of resource development and poor logistic infrastructure to the countries like Uzbekistan, double landlocked country, Mongolia and Azerbaijan, the countries do not be adjacent to the sea, even they have great economic jump-up plans through the development of their own resources. The Shanghai Cooperation Organization(SCO) start to sail officially in 2001 is constructed with China, Russia, Tadzhikistan, Kyrgyzstan, Kazakhstan and Uzbekistan as regular members of 6 countries and Mongolia, India, Pakistan, Afghanistan and Iran as observers 5 countries. It is started as a military alliance to protect terror, but now, it is expended to cooperate with the traffic, transportation, trade and share of energies. The Russia is doing their best to activate TSR as a government target to developnorth area equivalently, and economic develop of far-east Siberia. And also it is agreed provisionally to improve and repair of rail road between Nahjin and Hassan to connect TSR and TKR( Trans-Korea Railroad) by Russia, North Korea and South Korea with Russian's aggressive efforts. The development plan of this area is over lapped with GTI(Greater Tumen Initiative) promoted by UNDP, and is a cooperated project by 5 countries of South Korea, Mongolia, China, Russia and North Korea, subject to review the appropriation of energy, tour, environment, rail road connection between Mongolia and China and establishing a ferry route to north-east Asia. It is Japanese situation to pay attention to Russia and China even they have been supplying large-scope of infrastructure in Mongol area without any charges, target to get East Asia Main Rail Road to connect Mongolia and Zalubino of Russia. In case of the program for the Denuclearization of North Korea is not creeping, it will be accelerated to connect the TKR and TSR, TKR and TCR by somehow attending United States, including developing program promoted by UN ESCAP. As the result, Korean peninsular will continue the central role of competition and cooperation as in the past, now and future of north-east Asia, as of geographical-economics and geographical-politics whether it is requested or not wanted by neighbor countries.

• Strategy21
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• s.37
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• pp.144-176
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• 2015

In September 2013, President Park Geun-hye announced her controversial "Look North" policy, of which the most salient aspect is the "Eurasia Initiative". This comprises various proposals designed to overcome existing constraints by developing new markets and creating new economic partners in continental areas from which South Korea has been alienated since the end of World War II, and this dovetails nicely with China's One Belt, One Road Initiative. The concepts of the "Silk Road Rail Express (SRX)" and the "East Sea Rim Maritime Community (ESRMC)" have also been discussed. SRX is at present a purely symbolic railroad project intended to encourage individual, cultural, trade and diplomatic exchanges. ESRMC is a model for establishing an ad hoc community to promote regional economic cooperation around the East Sea. President Park's Eurasia Initiative will provide South Korean investment for the Northeast to complement Russian plans, like the "Northern Energy Road" being built by Gazprom, and Chinese plans, like the Chang-Ji-Tu Development Plan for the North Korean port of Rajin. China's trade, as well as its energy and food supplies, pass through the Strait of Malacca and the Indian Ocean, and are thus vulnerable to interdiction by India or the US. China is therefore trying to reduce its exposure geopolitical risk by establishing a network of corridors between the Belt and the Road to provide alternative paths. The "China-Pakistan Economic Corridor" and the "China-Myanmar Economic Corridor" provide such connections, and South Korea hopes that SRX and ESRMC can become part of a "China-South Korea Economic Corridor". This concept could do much to revitalize the underdeveloped northern provinces of China and Russia's Far East, not to mention North Korea. By linking up the Trans-Siberian Railway, the Trans-China Railway, the Trans-Mongolian Railway and the Trans-Korean Railway all these Asian countries will be connected to one another, and ultimately to Europe. An interim connection between China and South Korea using a rail-ferry has also been proposed.

• International Journal of Advanced Culture Technology
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• v.11 no.4
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• pp.177-192
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• 2023

A prerequisite for a lasting ceasefire is the emergence of a prevailing view in Moscow and Kyiv that the fighting has reached a hurting stalemate. In sum, they both lose more through continuing warfare than by a ceasefire. This study applies social identity dynamics of nationalism to this escalatory conflict. It generates findings that imply that China as a third-party great power intervening mediator can potentially play a pivotal role. Shifting the respective prevailing views in Moscow and Kyiv of their interaction from a zero-sum foundation requires proffering powerful economic and political third-party incentives. Effective inducement would facilitate national defense, development and prestige for Moscow as well as Kyiv. China arguably has the underutilized potential power capabilities necessary to alter the respective prevailing views of strategic relationships among the great powers within Moscow, Brussels and Washington. A prerequisite for success in striving effectively towards this strategic goal is cooperation with the Beijing despite skepticism from Washington. This study utilizes a process tracing methodological approach. It highlights that the foundations of the Russo-Ukraine war lie in the institutionalization within Euro-Atlantic integration of the Cold War assumption that the USSR was an imperialist revisionist actor. Russia is the USSR's successor state. Moscow's prevailing view is that Russian national self-determination was unjustly circumscribed in the multinational Soviet totalitarian Communist system. The Euro-Atlantic community is perceived as a neocolonial imperial threat by allying with post-1991 Ukrainian nationalism at Russia's expense. The study finds that acknowledging Eurasian regional multipolarity is necessary, if not sufficient, to coopt Beijing into a global political stabilization strategy. It functionally aims to promote international balancing to lessen potentials for horizontal as well as vertical escalation of the Russo-Ukrainian conflict.

• Electronics and Telecommunications Trends
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• v.38 no.5
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• pp.114-124
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• 2023

Recently, there have been the World Economic Forum's space economy guidelines, the International Telecommunication Union's regulations for each satellite orbit, the development of chips using satellite communication by global manufacturers and service providers, and the registration of key telecommunication businesses. Accordingly, trends in low-orbit 5G satellite communication services in Korea were investigated and analyzed, and the current situation in Korea was diagnosed. Korea's satellite communications accounts for 0.31% of all satellites when analyzed centering on countries with 20 or more satellites. Korea's communication satellite holdings are insufficient compared to 187 times that of the United States, 45 times that of Russia, and 18 times that of China. There is no link technology between 5G and LEO, and the cost of launch vehicles is high. In addition, it is judged that the ecosystem of equipment companies in the low-orbit 5G-NTN business model is insufficient.

• Journal of Korea Port Economic Association
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• v.33 no.3
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• pp.1-16
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• 2017

China has achieved rapid economic growth in the late 1970s with economic reform and open-door policy. China's economic growth began initially in the eastern coastal areas and from the 2000s expanded to the western and northeastern regions where the economy was relatively underdeveloped. In particular, in 2013 'One-Belt One Road' initiative proposed by Xi Jinping, the current General Secretary of the Communist Party of China is not only a key strategy for China's advancement into the world and also provides important opportunities for the development of these backward regions. Inland Port is the inland logistics hub and plays a crucial role in enhancing access to maritime ports as well as access to adjacent inland countries. Therefore, a number of inland ports have been developed and operated in order to enter into overseas markets and secure resources in the northeastern and western regions of China. This study aims to examine the role and development of inland port in 'One-Belt One Road' scheme. In conclusion, 'One-Belt One Road' will further increase the role of inland port, and in response, the development of inland port will play a pivotal role in one belt one road initiative. In this respect, Korean companies need to consider plans to participate in the development and operation of inland ports in China, which would provide opportunities to spread Northern markets including China, Russia, Central Asia, Eastern Europe.

• Journal of Digital Convergence
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• v.16 no.2
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• pp.103-115
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• 2018

The potential competitiveness for new routes and resources has been theoretically discussed with regards to the Arctic route but is gradually becoming a reality as global warming increases. In June of 2017, China officially included the Northern Sea Route (NSR) as part of the Belt and Road Initiative (BRI), and major countries' interests in the NSR are greatly expanding. This paper presents the general characteristics of the NSR, NSR development in China, the expected relationship between the NSR and the BRI, and this relationship's implications for Korea. The NSR has poor facilities and information infrastructure and is not economically viable for commercial navigation due to its high-cost conditions compared to competitive routes. In order to explore the Arctic and develop the NSR, large-scale projects must be funded over a long period of time; this has caused major difficulties in development. However, as the NSR is included in the BRI, there could be an opportunity to utilize BRI funds, such as Asian Infrastructure Investment Bank (AIIB). Further, China's NSR development and the NSR development of partner countries, such as Korea, should be further stimulated. As Korea has strengths in terms of its shipbuilding technology and geographical location, which is located at the core of the NSR, Korea would have chances to expand the economic cooperation and business opportunities with China and Russia.

• Strategy21
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• s.30
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• pp.143-176
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• 2012

We are witnessing the growing maritime tension on the East Asian sea these days. Each naval powers in the region are competing each other to acquire more advanced naval capabilities. Based upon the rapid economic development, China is actively beefing up its naval capabilities and expand its boundary of naval activities all over the East Asian region. Chinese Navy already unveiled its expansive naval strategy replacing the traditional concept of 'Near-Sea Defense' with the new concept of 'Far-Sea Defense' strategy. In response to potential rival's naval build up, the U.S. is redeploying its naval forces focusing on the Asia-Pacific region. The U.S. enhances its joint naval exercises with the countries in the region, such as Japan, India, Australia and so on. In addition, Washington is devising new naval strategy under the concept of 'Air-Sea Battle' to deter Peking's so-called 'Anti-Access/ Area Denial(A2AD)' strategy. As a close ally of the U.S., Japan also disclosed its clear intention to strengthen the Maritime Self Defense Force(MSDF)'s capabilities by introducing the new concept of 'Dynamic Defense Force' in 2011. Under the new concept, JMSDF is pursuing the additional acquisition of submarines, quasi-aircraft carriers, Aegis-equipped destroyers, etc. Under the new president's strong leadership, Russia is also invigorating the naval build-up. Especially, Russia is fortifying the Pacific Fleet's naval assets by deploying new-type of naval ships such as the Mistral which was imported from France. In the midst of competitive naval build-up among the major naval powers in the region, we are observing the growing maritime conflicts on the East China Sea as well as South China Sea. Those naval conflicts can pose severe threats to our national interests. Maritime conflicts on the East or South China Sea can imperil our sea lanes which will be indispensible for national economic development. Neighboring countries' maritime conflicts also will cast an uncertainty on the path to mobilize international cooperation to resolve the North Korean issues. We should contribute to ease the maritime tension in the region by various ways. First, we should actively galvanize the bilateral maritime dialogue among the major naval powers in the region. Second, we also should take the lead to form a multilateral maritime cooperation mechanism in the region. Above all, we should set the aim to be a peaceful maritime power who can contribute to a building of stable maritime order in the region with a considerable naval power.

• Journal of Korea Port Economic Association
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• v.24 no.4
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• pp.139-152
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• 2008

China's rapid growth of economy and developing logistics facilities such as sea and air ports can give the good effects to increase the trade and logistics cargo volumes within Pan Yellow Sea Economic Bloc which consists of Korea, China, Japan and Russia. These phenomenon also stimulate the development of the West Coastal Integrated Belt in South Korea. In the past 20th century, South Korea's advanced and developed areas were located on the Kyeong-Bu Axis, the straight line of Seoul and Busan. However, due to the china's effect, this axis is moving into the West Coast area between Incheon (Seoul) and Mokpo, which is closely located to China. In this aspect, sea ports located in West Coast of Korea have shown the steep increase in container and non-container cargo volumes. With regard to the changing environments in sea ports, this paper's aim is to investigate the developing potential of Gunsan (Saemangum) area located on mid of West Coast. As results, targeted area have shown the potential in terms of port network, supply chain management and transferring location for container cargoes. Moreover, for implementing the suitable roles, construction of New Saemangun port, closely located in Gunsan port, is needed to overcome the limitations of Gunsan port.