• 제목/요약/키워드: Open Economy

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A Study for Improving Trade and Commerce between Korea and Russia

  • Park, Ho-Yong;Lee, Kil-Nam
    • International Commerce and Information Review
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    • 제2권1호
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    • pp.83-103
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    • 2009
  • This paper attempts to provide a way to improvement in trade & commerce between Korea and Russia, analyzing the influence of the circumstances of the Russian economy on economic relations between the two countries. The study briefly reviews the current situation of the Russian economy, and tries to examine the strong points to be considered as leverage for cooperation and the weak points to be overcome. Previous studies have determined that the Russian economy has unlimited potential for growth, because it is endowed with abundant resources, and has a government willing to reform for the opening of the economy, as well as high-quality labor. However, the economic structure is vulnerable to impact of the worldwide financial crisis. It is not possible to overlook its institutional fragility and vulnerability such as a corrupt bureaucracy or a relatively large black market. These undesirable factors may not only undermine the basis of Russia economy but also a hindrance to economic cooperation by increasing economic uncertainty. This paper attempts to analyze comprehensively the socio-economic factors that influence the open-economy of Russia, and to illustrate strategies for improvement in trade and commerce through the viewpoint of Korean firms that are already in business or are trying to enter in the near future. Some measures to improve their economic cooperation are suggested at the end.

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Sharing Economy with the Use of Car-Sharing Applications: An Empirical Study in Vietnam

  • NGUYEN, Linh Tran Cam
    • The Journal of Asian Finance, Economics and Business
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    • 제8권8호
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    • pp.93-101
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    • 2021
  • The study aims to test the model of Yang et al. (2017) for the overall assessment of the transportation sector in the sharing economy and add some new elements on the benefits of customer loyalty from some previous studies that were not mentioned in Yang's model. This study will take examples from the two big brands of car-sharing apps in the sharing economy in Vietnam - Uber, and Grab. This research focuses on customer loyalty in the sharing economy with Uber and Grab as the transport sector in Ho Chi Minh City. Based on the survey data of 380 customers in Vietnam, the research results show that two independent factors positively impact commitment and satisfaction: social benefits and economic benefits. Simultaneously, economic benefit has a positive effect on satisfaction while trust benefit has a negative effect on commitment. Finally, commitment has a positive impact on customer loyalty in the sharing economy. As a result, companies in the sharing economy can identify which are the key factors that strongly influence customer satisfaction, commitment, trust, and loyalty to help managers to devise the appropriate solutions for promoting the strengths or overcoming limitations to contribute to perfecting and improving the quality of the company's services.

4차 산업혁명에 따른 미래사회와 교육환경의 변화, 그리고 초·중등 과학교육의 과제 (The Changes of Future Society and Educational Environment according to the Fourth Industrial Revolution and the Tasks of School Science Education)

  • 조헌국
    • 한국초등과학교육학회지:초등과학교육
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    • 제36권3호
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    • pp.286-301
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    • 2017
  • Nowadays, the public as well as science educators pays much attention to the fourth industrial revolution and wonders what will happen to the societies in the future. Thus, this study aimed at predicting the education environment which will be brought from the fourth industrial revolution, and suggesting the solutions or tasks to be investigated in science education. Through the literature review, this study categorized the major changes of future society into a wild fluctuation of job market, the shift from possession-based economy to sharing economy, post-urbanized and distributed system, and the crisis of dehumanization. According to the four major changes, this study predicted the future environment that will occur to the educational system. First, the students should the competences necessary for the future and the school curriculum will be changed in terms of width and depth. Second, sharing economy may bring about the open platform similar to MOOC (Massive Open Online Course) or TED. Third, the manifestation of artificial intelligence in education will enable the individual and paced learning, and thanks to the change, the concept of distributed cognition will be more focused in education research. Fourth, the collaborative learning and character education should be more stressed to resist the dehumanization. This study suggests relevant tasks and issues that should be tackled for the successful change in primary and secondary schools.

A Study on Economic Linkages between Korea and Japan

  • Lee, Jae-Ki
    • 한국항만경제학회지
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    • 제20권1호
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    • pp.43-55
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    • 2004
  • This paper investigates how Japanese economic shocks affect the Korean economy and analyzes the channels through which they are transmitted. Also, the relative importance of domestic and foreign shocks on the dynamics of certain key macro variables is investigated. The techniques of vector autoregression (VAR) are employed to investigate the international transmission of economic disturbances. The VAR methodology is a particularly useful means for characterizing the dynamic relationships among economic variables without imposing certain types of theoretical restrictions. The dynamic effects of Japanese economic shocks on the Korean economy are evaluated by estimating variance decompositions (VDCs) and impulse response functions (IRFs). This study supports the notion of economic dependence of a small open economy such as Korea to a large economy such as Japan.

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A Comparison Analysis of Monetary Policy Effect Under an Open Economy Model

  • Lee, Keun Yeong
    • East Asian Economic Review
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    • 제22권2호
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    • pp.141-176
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    • 2018
  • The paper analyzes and compares the effects of domestic monetary policy using DSGE, DSGE-VAR, and VAR based on a two-country open economy model of Korea and the U.S. According to impulse response analysis, a domestic interest rate hike raises won value in the case of DSGE and DSGE-VAR models, while in the case of the unrestricted VAR model, it lowers won value. In the marginal data density standard, DSGE-VAR (${\mu}=1$) is superior to DSGE or Bayesian VAR over the sample period. Conversely, in the in-sample RMSE criterion, especially for the won/dollar exchange rate, VARs are superior to DSGE or DSGE-VAR. It is necessary to study further if these differences are caused by model misspecification or omitted variable bias.

왜곡이 있는 경우 개방경제와 폐쇄경제의 통화정책 비교: 간단한 변환과 적용 (Monetary Policy in Open versus Closed Economies in the Presence of Distortions: A Simple Transformation and Its Applications)

  • 정규철
    • KDI Journal of Economic Policy
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    • 제36권1호
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    • pp.81-106
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    • 2014
  • 본 연구에서는 개방경제와 폐쇄경제의 통화정책 문제를 비교한다. 개방경제와 폐쇄경제의 통화정책 문제는 비록 정상상태에서 왜곡이 존재하더라도 같은 꼴이어서 최적 통화정책은 비슷한 성질을 가진다. 한편, 개방경제에서 통화정책 결정자는 교역조건을 조절하고자 하는 왜곡된 유인을 가진다. 이 왜곡으로 인해 시점 간 대체탄력성이 1이더라도 통화정책의 국제협력에 의한 이익이 발생한다. 이 결과는 기존에 왜곡을 제외시킨 문헌의 결과와는 차이가 있다. 또한 왜곡이 존재할때 인플레이션 편향은 개방도가 높을수록 적어지는데, 이는 실증적인 증거와도 일치한다. 더불어 본 연구에서는 폐쇄경제모형에서의 방법론을 개방경제모형에 쉽게 적용할 수 있는 변환을 제시한다.

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미국 개방 미저리 지수의 증가추세 - 경제위기의 전조 - (Rising Open Misery Index of the USA - A Precursor of Economic Crisis -)

  • 정기웅;김정숙;이상학
    • 국제지역연구
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    • 제13권1호
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    • pp.39-51
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    • 2009
  • 물가상승률과 실업률을 합한 수치를 미저리 지수(misery index)라고 칭한다. 미저리 지수가 높을수록 국민경제의 성과는 저조한 것을 나타낸다. Lee and Cheong (2007)은 미저리 지수에 경상수지의 GDP대비 비율(%)을 합한 수치를 개방 미저리 지수로 정의하였으며, 동 지수가 개방도가 높은 경제의 성과를 잘 나타낼 수 있다고 주장하였다. 본 논문은 미국에서 개방 미저리 지수가 증가하는 시기는 미국경제의 성과가 저조한 때와 일치한다는 것을 보인다. 특히 2008년에 시작된 현재의 경제위기 이전에 약 10년간 지속적으로 개방 미저리 지수가 상승하는 추세임을 보여준다. 이는, 미국의 현 경제위기에 앞서 지난 10여년간 미국경제의 내부 및 외부불균형이 누적되어 왔음을 보여주는 것이다. 본 논문은 이와 같이 최근의 증가하는 추세의 개방 미저리 지수를 현재의 경제위기의 전조로 해석한다.

Coordinated Development of Agricultural Insurance, Agricultural Loans, and the Agricultural Industry in China

  • LI, Nan;JIA, Hong Da;KIM, Dong Joo
    • The Journal of Asian Finance, Economics and Business
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    • 제9권7호
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    • pp.205-217
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    • 2022
  • The purpose of this study was to explore the relationship between agricultural insurance, agricultural loans, and the agricultural industry and find ways to consolidate and improve the interactive development between these three systems. We collected relevant data from 2009 to 2019 in 15 provinces of China and constructed a coupled coordination model to analyze the data. The results are as follows: First, the eastern part of China was ahead of the central and western parts in terms of agricultural loans and the agricultural industry, while the western part was ahead of the central and eastern parts in terms of agricultural insurance. Second, the coupling degree of the three systems in all 15 provinces reached an extremely high level. Third, all 15 provinces showed an overall continuous rise in coupling coordination degree. In 2019, eight provinces reached the medium-level coupling coordination development, and seven provinces were in a state of barely coupling coordination development. The three systems formed a mutually reinforcing relationship and basically entered a state of coordinated development. Finally, there was a great development gap between different regions of China concerning the coordinated development of the three systems, therefore, innovative development is urgently needed to further promote the coordinated development level.

미일간 거시경제적 연계성에 대한 연구 (A Study on Macroeconomic Linkages between the USA and Japan)

  • 이재기
    • 국제지역연구
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    • 제15권3호
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    • pp.175-188
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    • 2011
  • 본 논문은 미국의 경제변동이 일본경제에 어떻게 영향을 미쳤는가에 대한 연구를 수행한다. 미국경제가 일본경제에 다양한 영향을 미치고 있다는 것이 광범위하게 받아들여지고 있다. 실제로 미국은 일본의 수출입에 있어서 중요한 부분을 차지하고 있다. 미국에서 발생된 경제변동이 일본경제에 어떻게 전달되는가를 인지하는 것이 경제정책가들에게는 매우 중요하다고 할 수 있다. VAR모형이 경제변동의 국제전달경로를 분석하는데 활용된다. 미일경제의 상호작용은 분산분해(VDCs)를 이용하여 분석된다. 본 논문의 분석결과 몇가지 경제적 시사점을 도출할 수 있다. 첫째는, 미국의 경제변동에 대한 일본 통화정책의 일부 의존성을 지적할 수 있다.미국의 경제변동은 일본 통화량과 이자율에 어느정도의 영향성을 나타내는 것으로 조사되었다. 둘째는, 미국의 물가변동에 대한 일본 물가의 긍정적인 반응이다. 셋째는, 미국의 경제변동에 대한 엔/달러 환율의 반응성이다. 엔/달러 환율의 반응은 조사기간이 장기로 진행할수록 보다 강력하고 의미있게 나타났다. 결론적으로, 본 논문은 조사분석기간동안 미국의 경제변동이 일본경제에 중요한 영향을 미쳤음을 나타낸다. 본 연구는 상대적으로 규모가 큰 경제(미국)에 대한 규모가 작은 경제(일본)의 경제의존성에 대한 개념을 지지한다.

Implementing Onetime Password based Access Control System for Secure Sharing Service

  • Kang, Namhi
    • International Journal of Internet, Broadcasting and Communication
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    • 제13권3호
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    • pp.1-11
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    • 2021
  • Development of ICT technologies leads exponential growth of various sharing economy over the last couple of years. The intuitive advantage of the sharing economy is efficient utilization of idle goods and services, but there are safety and security concerns. In this paper, we propose a onetime password based access control system to support secure accommodation sharing service and show the implementation results. To provide a secure service to both the provider and the user, the proposed system issues a onetime access password that is valid only during the sharing period reserved by the user, thereafter access returns to the accommodation owner. Especially, our system provides secure user access by merging the two elements of speaker recognition using voice and a one-time password to open and close the door lock. In this paper, we propose a secure system for accommodation sharing services as a use-case, but the proposed system can be applicable to various sharing services utilizing security-sensitive facilities.