• 한국정보통신학회:학술대회논문집
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• 한국정보통신학회 2018년도 춘계학술대회
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• pp.203-204
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• 2018

최근 전 세계적으로 비트코인을 필두로 다양한 가상화폐의 관심도가 증가함에 따라 가상화폐에 대한 투자 및 거래가 활성화되고 있다. 그러나 가상화폐는 가격이 불안정하여 금액 변동률 폭이 매우 크기 때문에 잦은 금액 확인이 요구되어 가상화폐 투자자들은 자주 가상화폐 거래소를 확인을 해야 하는 문제점이 발생한다. 따라서 본 논문에서는 가상화폐 가격 정보 데이터를 수집하여 RGB로 표현하는 가격정보 안내 시스템을 사용함으로서 거래소에서 낭비되는 시간을 크게 줄이고 사용자만이 데이터 표현을 이해할 수 있어 기밀성을 지원할 것으로 기대한다.

• KDI Journal of Economic Policy
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• 제12권3호
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• pp.71-94
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• 1990

본고(本稿)서는, 최근 자유금융학파(自由金融學派)와 신화폐경제학과(新貨幣經濟學科)들의 등장으로 화폐(貨幣) 금융문제(金融問題)에서의 자유경쟁(自由競爭) 및 자유방임주의적(自由放任主義的) 사고가 새롭게 확산되고 있는 시점(時點)에서, 정부(政府) 및 중앙은행(中央銀行)의 화폐(貨幣) 금융개입(金融介入)의 이론적(理論的) 근거(根據)와 그에 관련된 논쟁(論爭)을 다음의 6가지 논거(論據)들을 중심으로 개관해 보았다 : (1) 자유금융하(自由金融下)의 銀行券(은행권) 초과발행(超過發行) 가능성(可能性), (2) 화폐사용에 있어서의 외부경제효과(外部經濟效果)와 화폐제도의 공공재적(公共財的) 성격(性格) (3) 화폐발행업무의 규모(規模)의 경제(經濟)와 자연독점적(自然獨占的) 성격(性格), (4) 실물부문(實物部門)의 불안정성(不安定性)과 거시안정화정책(巨視安定化政策)의 필요성, (5) 은행금융시장(銀行金融市場)의 불안정성(不安定性)과 은행파산(銀行破産)의 외부효과(外部效果), (6) 소액거래자(少額去來者) 및 예금자(預金者)의 보호(保護) 이러한 논거들에 의하면 외부화폐(外部貨幣)(outside money)의 공급은 전형적인 공공재이론(公共財理論)이나 기술적(技術的) 독점주장(獨占主張)이 적용되는 경우이기 때문에 외부화폐제도(外部貨幣制度)의 유지에 있어서 정부(政附)나 중앙은행(中央銀行) 독점(獨占) 및 개입(介入)이 불가피하고 또한 바람직하지만, 내부화폐(內部貨幣)(inside money)제도(制度)의 경우는 적절한 최소한의 안전장치만 강구된다면 최근의 자유금융학파(自由金融學派) 및 신화폐경제학과(新貨幣經濟學科)들의 주장과 같이 사적(私的) 자유경쟁(自由競爭)이 보다 활성화되도록 하는 것이 바람직할 것으로 판단된다 . 한편 외부화폐제도(外部貨幣制度)에의 개입(介入)에 따른 (정부(政府) 및) 중앙은행(中央銀行)의 거시통화정책기능(巨視通貨政策機能)은 물론, 보다 자유화(自由化)된 내부화폐제도하(內部貨幣制度下)에서도 중앙은행(中央銀行)의 최종대여자기능(最終貸與者機能)과 미시적(微視的) 감독기능(監督機能)은 동(同) 제도(制度)의 안전성(安全性)을 유지하기 위해 중요한 역할을 할 것으로 보인다.

• 전기학회논문지
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• 제66권8호
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• pp.1172-1180
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• 2017

This study analyzed competition in peak load plants between CCGT and GT instead of competition between base and peak load plants like in previous studies. In common overseas power markets, CCGT and GT claim certain market shares as peak load plants with the latter boasting a high utilization rate as reserve plants. In South Korea, however, there has been no introduction of GT in the market that opened in 2001 with no analysis cases of GT's economy as a peak load plant. The current power market of South Korea is run on the cost-based pool, which allows for no price spikes. Since the capacity payment criteria for compensations for missing money are set based on GT generators, the power market uses GT generators as marginal plants. The purposes of this study were to analyze the competitive edge of GT generators as peak load plants in the domestic power market of South Korea and identify the causes of GT's failure in market entry, thus assessing the adequacy of market signals in the domestic power market.

• 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.

• 한국중재학회지:중재연구
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• 제31권1호
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• pp.155-171
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• 2021

Recently, the e-business market has become a place of convergence where consumers and suppliers communicate with each other, and a new method of trading of funds has emerged in the process. Crowd-funding is one of the types of money transactions that have emerged in the online space, and its interest and trading volume have been growing rapidly recently. The platform in the online space using crowd-funding method operates in the form of online telecommunication sales, and it is in the form of producing and delivering products based on funds obtained from potential consumers by the operators involved in securing funds. However, if the participating business operators do not deliver the product or deliver the product other than the promoted product and avoid responsibility, the potential demander will not be compensated without mediation by the platform operating entity. In this study, despite the rapid growth in the market size of crowd-funding, consumers who participated in the funding are protected and able to resolve disputes in the event of a conflict amid growing complaints from potential consumers and side effects. The structure or method of crowd-funding is a new form of trading that has different features from conventional e-commerce. Therefore, the legal basis is not yet in place and the standards need to be laid out through various and sufficient discussions politically, legally, socially and culturally and economically. As the potential market and positive effects of crowd-funding around the world have been recognized, a role is required as an ecosystem for new financial transactions. And the potential market could be realized as a new industry if the right legal system and policy consultation were made.

• Current Research on Agriculture and Life Sciences
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• 제3권
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• pp.203-218
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• 1985

In Korea, the developmental gap is deep between rural and urban areas in spacial aspect and, or between agricultural and industrial side. So there are much room for improvement in agri. development in national standpoint as well as in individual farmer's level. In this respect, agricultural financing is requisitive to speed up the pace of agricultural development and in result, to contribute to improvement of farm income. By the way, farmers' credit demands are always in excess-demand status and they rely on private money-lenders in the burden of high interest rate. In agricultural financing market, there are two kinds of credit ; institutional credit and non-institutional credit market, that is private money-lending. In institutional credit, there are mutual credit system operating by the primary coops and policy credit system by NACF financed by Government in part. Here, in this paper, I venture to study on the improvements of the policy credit system to increase and activate the supply function of agri. policy credit into farmers to enhance their socio-economic status.

• 한국의류산업학회지
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• 제3권2호
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• pp.148-155
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• 2001

The purpose of this study was to segment the clothing customers of new traditional market according to shopping orientation and to clarify the different clothing behaviors among segmented groups. This study may be useful for new traditional marketer to make proper marketing strategies. The subjects for the final analysis were 400 customers who visited Namdaemoon and Dongdaemoon new traditional markets. The statistics used for analysis were factor analysis, cluster analysis, Cronbach-${\alpha}$, one-way ANOVA, LSD multiple range test and chi-square by the SPSS program. The results of this study were as follows: 1. The customers of new traditional market were segmented to 5 groups (Diffidence Group, Confidence/Information Group, Active Group, Shop/Brand Loyalty Group and Planned Purchasing Group); 2. The five segmented groups were significantly different in clothing evaluation standards, shop evaluation standards, satisfaction and demographic variables such as sex, age, education and monthly spending money.

• 한국게임학회 논문지
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• 제7권2호
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• pp.41-52
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• 2007

우리나라의 온라인 게임 산업의 급격한 성장은 새로운 규제의 문제를 발생시키게 되었는데, 가장 대표적인 것이 아이템 거래에 대한 규제 여부의 문제이다. 그런데 온라인 게임 아이템 거래 규제는 규제의 일환으로서 규제적 접근이 이루어질 필요성이 존재함에도 불구하고, 현재까지의 논리는 법 이론적 근거와 현실적 이유를 위주로 이루어지고 있으며, 규제 이론적인 접근은 이루어지지 못하고 있다는 한계점이 있다. 본 연구는 온라인 게임 아이템 거래 규제 논의에 대한 이러한 한계점을 보완하기 위하여, 독과점성, 외부성, 공공재성, 불확실성의 시장실패 여부 측면에서 아이템 거래 규제의 타당성 여부를 검토하였다. 분석결과 아이템거래는 시장의 독과점적 구조와 연관성이 없고 소비자 후생을 오히려 증가시키는 효과가 있다. 아이템은 완전한 경합성과 배제성을 지니고 있었으며, 게임산업 발전이라는 외부경제가 존재하였다. 아이템거래는 사이버범죄의 외부불경제와 연관이 있었으나, 이러한 부작용은 아이템거래 자체의 문제라기보다는 게임 회사가 아이템 거래를 적극적으로 금지하기 때문에 발생하는 문제였다. 따라서 시장실패의 틀에서 볼 때, 아이템 거래를 금지하지 않고 오히려 양성화하는 것이 현재의 부작용을 감소시킬 수 있는 정책적 방안이 될 수 있다.

• 산경연구논집
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• 제9권5호
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• pp.63-72
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• 2018

Purpose - This work analyzes, in detail, the specification of vector error correction model (VECM) and thus examines the relationships and impact among seven economic variables for USA - balance on current account (BCA), index of stock (STOCK), gross domestic product (GDP), housing price indices (HOUSING), a measure of the money supply that includes total currency as well as large time deposits, institutional money market funds, short-term repurchase agreements and other larger liquid assets (M3), real rate of interest (IR_REAL) and household credits (LOAN). In particular, we search for the main explanatory variables that have an effect on stock and real estate market, respectively and investigate the causal and dynamic associations between them. Research design, data, and methodology - We perform the time series vector error correction model to infer the dynamic relationships among seven variables above. This work employs the conventional augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root techniques to test for stationarity among seven variables under consideration, and Johansen cointegration test to specify the order or the number of cointegration relationship. Granger causality test is exploited to inspect for causal relationship and, at the same time, impulse response function and variance decomposition analysis are checked for both short-run and long-run association among the seven variables by EViews 9.0. The underlying model was analyzed by using 108 realizations from Q1 1990 to Q4 2016 for USA. Results - The results show that all the seven variables for USA have one unit root and they are cointegrated with at most five and three cointegrating equation for USA. The vector error correction model expresses a long-run relationship among variables. Both IR_REAL and M3 may influence real estate market, and GDP does stock market in USA. On the other hand, GDP, IR_REAL, M3, STOCK and LOAN may be considered as causal factors to affect real estate market. Conclusions - The findings indicate that both stock market and real estate market can be modelled as vector error correction specification for USA. In addition, we can detect causal relationships among variables and compare dynamic differences between countries in terms of stock market and real estate market.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.195-210
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• 2020

This study describes the structure of the capital markets for small- and medium-sized enterprises (SMEs) and startup companies in Korea, which is an emerging market that has experienced drastic changes. The overall capital market can be divided into private and public capital markets. In the private capital market, most of the demand for capital comes from non-listed private firms, including startups and SMEs. In the case of SMEs and startups, the KOSDAQ, the Korea New Exchange (KONEX), and primary collateralized bond obligations (P-CBOs) are part of the public capital market. SMEs and startups are generally incapable of raising sufficient capital owing to their low credit ratings, and they largely have limited access to primary markets to issue shares and borrow money. The Korean government has developed a systematic financial aid program to provide funds to these companies. The fund for SMEs has significantly contributed to the development of the venture capital market. Many Korean banks provide substantial lending to SMEs, but this lending is available only because of the Korean government's loan recovery guarantee. Furthermore, SMEs can issue corporate debt in the form of primary collateralized bond obligations through government guarantees, but such debt issuances have placed increasing pressure on public guarantee institutions.