• Journal of the Society of Naval Architects of Korea
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• v.37 no.4
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• pp.1-10
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• 2000

A panel method based on the raised panel approach is developed for the nonlinear ship wave problem of practical hull forms. For the validation of the present numerical scheme. the developed method is first applied to Series 60 hull for which the extensive experimental data are available. As practical applications. the developed method is applied to KRISO 3600 TEU container ship and KRISO 300K VLCC. With the primary emphasis on the nonlinear effects of the global wave pattern generated by the two commercial ships. the calculated wave patterns are compared and verified with the experiments of KRISO. It is found that the calculated results of the present method are quite satisfactory compared with the linear methods like Dawson's approach and Neumann-Kelvin solution.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.705-714
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• 2020

This study aims to investigate the main factors that affected the government health expenditures in Gulf Cooperation Council (GCC) countries (Kingdom of Saudi Arabia (KSA), United Arab Emirates (UAE), Oman, Qatar, Bahrain and Kuwait), during the period from 2005 to 2019. The study employs a panel data technique in order to monitor the pooled determinant variables of healthcare expenditures in these countries. The study's results indicate, by using FMOLS approach for panel data, that the average healthcare expenditures per capita in GCC countries have a positive and a significant relationship with the government revenues, the size of the population, and the governments' public debt. The positive and the significant relationships of governments' public debt may be explained even if the governments of the GCC countries suffer from a budget deficit; the GCC countries continue to increase the healthcare expenditure. The study suggests that the policymakers of the GCC countries must take into consideration those variables when they develop their healthcare policies. Also, the GCC countries urgently need to have high levels of foreign exchange reserves to maintain the expected level of spending on the healthcare sector, because their public revenues depend mainly on the oil revenues, which are fluctuating continuously.

• The Korean Journal of Applied Statistics
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• v.34 no.5
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• pp.697-710
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• 2021

Relative error prediction is preferred over ordinary prediction methods when relative/percentile errors are regarded as important, especially in econometrics, software engineering and government official statistics. The relative error prediction techniques have been developed in linear/nonlinear regression, nonparametric regression using kernel regression smoother, and stationary time series models. However, random effect models have not been used in relative error prediction. The purpose of this article is to extend relative error prediction to some of generalized linear mixed model (GLMM) with panel data, which is the random effect models based on gamma, lognormal, or inverse gaussian distribution. For better understanding, the real auto insurance data is used to predict the claim size, and the best predictor and the best relative error predictor are comparatively illustrated.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.593-604
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• 2020

This study analyzes human development convergence and the impact of funds transfer to the regions using σ and β-convergence analysis method. Observations were made in all Indonesia's provinces in the period 2010-2019. The coefficient of variation calculation shows a dispersion in the inequality of human development, which means that convergence occurred. This is also documented by the clustering analysis results developed in the study. The results are in line with the hypothesis of neoclassical theory, which shows the tendency for provinces with lower human development levels to grow relatively faster. The dynamic panel data approach with the GMM model shows that a model built with explanatory variables for transfer of funds to regions may lead to the process of convergence of human development - 2.21% per year or 31 years to cover the half-life of convergence. This is a consequence of the Special Allocation Fund and the Village Fund, which positively impact the convergence process, and the General Allocation Fund and the Revenue Sharing Fund with negative signs slowing the convergence process. This evidence opens opportunities to review the justification of the weighting component in determining the amount of funds transferred to the region to accelerate the convergence process of human development.

• Proceedings of the Technology Innovation Conference
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• 1996.12a
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• pp.154-178
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• 1996

This paper applies the technology-gap trade theory to explaining radical changes in the competitive positions of countries in world machine tool markets over the last three decades. It develops the notion that the innovation gaps in machine tools among countries led to the inter-country differences in the competitive performance in the sector as well as in its user sectors. Since competitive advantage largely depends on a capability to improve, create and apply technology to market competition, a higher innovative performance in one country than another is closely related to a higher innovative performance. A higher innovative performance in machine tools is also associated with a higher competitive performance of the large areas of its user sectors, due to sectoral interdependences and externalities generated by machine tool innovations. The results of empirical investigation through a panel data analysis show that the international gaps in machine tool innovations appeared to have a positive significant relationship with the differences in the export performance of both the machine tool sector and its user sector across countries.

• The Journal of Information Systems
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• v.26 no.3
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• pp.229-246
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• 2017

Purpose The purpose of this study is to examine the potential asymmetry in price competition between the geographically defined submarkets of the lodging industry, namely the traditional and alternative accommodation facilities. Design/methodology/approach The study utilizes a spatial econometric model to empirically test for the hypothesized asymmetry in price competition. Property-level panel data on hotels and alternative accommodation facilities collected from a major online travel agency (OTA: Agoda.com) was used for this purpose. Findings Result of the analysis shows significant intra-segment spatial price competition among the properties, that is, within hotels and within alternative accommodation submarkets, respectively. However, the inter-segment competition was found to be asymmetric as hypothesized. Room rates of hotels are influenced by prices of geographically close alternative accommodations, but the reverse does not hold. Implications for practitioners and suggestions for future research are discussed along with the findings of the study.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.295-302
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• 2020

The paper aims to investigate the impact of foreign direct investment (FDI) on private investment with a sample having 49 developing countries in Asia (17 countries) and Africa (32 countries) during the period of 1990-2017. Unlike previous studies, we split the data into three groups for further analysis, including the Asian, African and the full-panel samples. The results confirm a crowding-in effect which shows that foreign direct investment promotes private investment on all three research samples. Besides, the lagged private investment has a positive and significant effect on itself in the next period which reflects the inertia in the trend of private investment in recipient countries. In the full-panel sample, there are some macro factors such as GDP per capita, trade openness, and electricity that also have a positive and statistically significant impact on private investment. Besides, when more deeply estimate with smaller samples, we find that trade openness and labour force have a positive and significant in Africa, on the other hand, not in Asia. However, the domestic credit variable has a negative and significant effect on private investment only in Asian developing countries. Furthermore, there is only a positive and significant impact of the electricity variable on private investment in Asia.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.143-156
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• 2022

This article examines the effect of inward foreign direct investments (FDI) on the export performance of micro, small & medium enterprises (MSMEs) in India, and investigates the spillover impact and absorption capacity of the MSMEs sector. For the first time, the researchers applied the intersectoral linkage approach to investigate the matter and used a panel dataset between 2006 and 2017. The coefficients of forward and backward linkages are estimated by using the Rasmussen method, the study employs a basic linear panel data model, followed by various diagnostic tests to identify the problem of heteroscedasticity, autocorrelation / serial correlation, cross-sectional dependencies, multicollinearity, time-individual specific tests, and unobserved effects. The PCSE model was applied for robust standard error and the Hausman-Taylor IV model to check the robustness of the result generated in the linear panel data model. Despite the high prevalence of forward and backward intersectoral connections and the Lack of absorption capacity of local firms, the results show that FDI has little of an impact on the export performance of micro, small, and medium-sized businesses in India. This study adds to the existing literature on determining local firms' spillover effect and absorption capacity in response to inward FDI.

• Journal of Labour Economics
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• v.30 no.2
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• pp.1-31
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• 2007

The purpose of this paper is to analyse wage differentials between non-regular and regular works. Data from EAPS(Economically Active Population Survey) 2005 show that the monthly wage level of non-regular worker is only 63% of regular worker and thus there exist 37% wage differentials. However, these wage differentials do not control for hours of work, the amount of human capital, job characteristics, and other individual characteristics affecting wages. If these variables are added to the hourly wage regression equation, the wage gap between non-regular and regular workers drastically decreases to 2.2%. Furthermore, decomposition of the wage differentials by Oaxaca method shows that productivity difference between non-regular and regular workers explains up to 91% of the wage gap. This implies that the magnitude of wage discrimination against non-regular workers is at most 0.2% of hourly wage of regular workers. To control for unobserved individual heterogeneities more accurately, we also construct panel data and estimate wage differentials. The results from the panel data approach show that there is no difference in the hourly wages between non-regular and regular workers. In some specifications, the wage rate of non-regular worker is rather higher than that of regular worker. These results are consistent with economic theory. Other things being equal, workers with unstable employment may require higher wages to compensate their unstability. Firms are willing to pay higher wages if they can get more flexibility from non-regular employment. Empirical results in this paper cast doubt on the view that there is wage discrimination against non-regular workers in the labor market. Public policies should be targeted for disadvantaged groups among non-regular workers, not for non-regular workers in general.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.277-288
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• 2022

Purpose - This study analyzed the determinants of local unemployment rate in Korea using panel data from 16 metropolitan cities and provinces from 2000 to 2018. Design/methodology/approach - We use a dynamic spatial panel model that considers characteristics of the regional unemployment rate such as the common factors effect, spatial dependence, and serial correlations. Findings - The local unemployment rate is affected by the past and present values of the national unemployment rate. And it is significantly affected by the past local unemployment rate and the past neighboring unemployment rate because spatial dependence and serial correlations are clearly present. In addition, when the industrial structure diversity and labor productivity were high, the regional unemployment rate decreased, and when the education level was high, the regional unemployment rate increased. Research implications or Originality - In order to reduce regional unemployment rate, it is necessary to plan and establish regional customized industrial structure policies under the stance of diversification rather than specializing the regional industrial structure and accompany improvement of the quality of education with the number of years of education. In addition, the redistribution of labor from low labor productivity sectors to high labor productivity sectors through technology development will help to reduce the local unemployment rate.