• Title/Summary/Keyword: Political Economy Approach

Search Result 55, Processing Time 0.026 seconds

Macro-Economic Factors Affecting the Vietnam Stock Price Index: An Application of the ARDL Model

  • DAO, Hoang Tuan;VU, Le Hang;PHAM, Thanh Lam;NGUYEN, Kim Trang
    • The Journal of Asian Finance, Economics and Business
    • /
    • v.9 no.5
    • /
    • pp.285-294
    • /
    • 2022
  • Using the ARDL approach, this study examined the impact of macro factors on Vietnam's stock market in the short and long run from 2010 to 2021. The State Bank of Vietnam and the International Monetary Fund provided time series data for this study. Research results show that in the long run, money supply and exchange rate respectively affect the stock market. The money supply had a positive effect on the VN-Index, while the exchange rate showed the opposite effect. However, the study did not find a relationship between world oil price and interest rates on VN-Index in the long run. On the other hand, in the short term, there are relationships between variables; specifically, interest rates and exchange rates have a negative impact on the VN-Index, while the world oil price and the fluctuation of money supply M2 of the previous one and two months showed an impact in the same direction on this index. The differences in the regression results on the impact of exchange rate and oil price on the VN-Index compared to previous studies come from the characteristics of Vietnam's stock market, with the large capitalization of companies in the oil and gas sector, and the structure of Vietnam's economy with export heavily depends on FDI sector.

The Relationship Between Colonial Experience and Economic Growth in Latin America (라틴아메리카의 식민경험과 경제성장의 상관관계)

  • Yi, Sang-Hyun
    • Iberoamérica
    • /
    • v.12 no.1
    • /
    • pp.241-265
    • /
    • 2010
  • The main purpose of this study is to reveal the historical origins of Latin American economic underdevelopment, by answering two research questions; 1)'Why is Latin America underdeveloped?' and 2)'How has colonial experience impacted on the economic growth in Latin America?' First, this essay analyzes long-term tendency of growth domestic product(GDP) per capita data. The data verify that current underdevelopment of Latin American economy is the result of economic stagnation during the eighteenth and nineteenth centuries, when Latin America suffered political and economic instability before and after the independence from Spain and Portugal. It elucidates that colonial experience affected on the economic growth in Latin America. Second, this essay reviews key independent variables of the relationship between colonial experience and economic growth in Latin America. To do so, the study categorizes extant literature into two groups according to the type of its independent variables: 1)internal factor and 2)external factor. Finally, the essay surveys the role of institutions in Latin American economic growth and development. The survey confirms that the importance of institutions in the study of Latin American economic history. In addition, the essay suggests some tasks for further research in Latin American economic history; 1)the construction of basic economic data, 2)the substantialization of the role and characteristics of institutions, and 3)the expansion of research on institutions which overcomes ideological rigidity of existing institutional approach.

A Study on the Youth Job Creation Problem Solving with a Co-creation Approach: Focusing on the Busan City (청년층 일자리 창출문제에서 Co-creation적 해결방안에 관한 연구: 부산광역시를 중심으로)

  • Hong, Soon-Goo;Lee, Hyun-Mi;Han, Se-Eok;Kim, Jong-Weon
    • Journal of Korea Society of Industrial Information Systems
    • /
    • v.20 no.1
    • /
    • pp.91-102
    • /
    • 2015
  • The growth of Korean economy has continuously declined since 2000, which resulted in the reduction of employment creation opportunity. Futhermore, these circumstances are aggravating the youth job creation. This study investigates the co-creation approach for solving the youth job creation problem. By using the grounded theory on recent newspapers for a year, the study proposes a paradigm model for the youth job creation. Based upon this result, the study creates the conceptual model for the youth job creation, which includes three factors such as process, environment, and institution. This study will contribute not only to the extension of qualitative study on the grounded theory in research, but also to the political implications for the youth job creation in practice.

New horizon of geographical method (인문지리학 방법론의 새로운 지평)

  • ;Choi, Byung-Doo
    • Journal of the Korean Geographical Society
    • /
    • v.38
    • /
    • pp.15-36
    • /
    • 1988
  • In this paper, I consider the development of methods in contemporary human geography in terms of a dialectical relation of action and structure, and try to draw a new horizon of method toward which geographical research and spatial theory would develop. The positivist geography which was dominent during 1960s has been faced both with serious internal reflections and strong external criticisms in the 1970s. The internal reflections that pointed out its ignorance of spatial behavior of decision-makers and its simplication of complex spatial relations have developed behavioural geography and systems-theoretical approach. Yet this kinds of alternatives have still standed on the positivist, geography, even though they have seemed to be more real and complicate than the previous one, The external criticisms that have argued against the positivist method as phenomenalism and instrumentalism suggest some alternatives: humanistic geography which emphasizes intention and action of human subject and meaning-understanding, and structuralist geography which stresses on social structure as a totality which would produce spatial phenomena, and a theoretical formulation. Human geography today can be characterized by a strain and conflict between these methods, and hence rezuires a synthetic integration between them. Philosophy and social theory in general are in the same in which theories of action and structural analysis have been complementary or conflict with each other. Human geography has fallen into a further problematic with the introduction of a method based on so-called political ecnomy. This method has been suggested not merely as analternative to the positivist geography, but also as a theoretical foundation for critical analysis of space. The political economy of space with has analyzed the capitalist space and tried to theorize its transformation may be seen either as following humanistic(or Hegelian) Marxism, such as represented in Lefebvre's work, or as following structuralist Marxism, such as developed in Castelles's or Harvey's work. The spatial theory following humanistic Marxism has argued for a dialectic relation between 'the spatial' and 'the social', and given more attention to practicing human agents than to explaining social structures. on the contray, that based on structuralist Marxism has argued for social structures producing spatial phenomena, and focused on theorising the totality of structures, Even though these two perspectives tend more recently to be convergent in a way that structuralist-Marxist. geographers relate the domain of economic and political structures with that of action in their studies of urban culture and experience under capitalism, the political ecnomy of space needs an integrated method with which one can overcome difficulties of orthhodox Marxism. Some novel works in philosophy and social theory have been developed since the end of 1970s which have oriented towards an integrated method relating a series of concepts of action and structure, and reconstructing historical materialism. They include Giddens's theory of structuration, foucault's geneological analysis of power-knowledge, and Habermas's theory of communicative action. Ther are, of course, some fundamental differences between these works. Giddens develops a theory which relates explicitly the domain of action and that of structure in terms of what he calls the 'duality of structure', and wants to bring time-space relations into the core of social theory. Foucault writes a history in which strategically intentional but nonsubjective power relations have emerged and operated by virtue of multiple forms of constrainst wihthin specific spaces, while refusing to elaborate any theory which would underlie a political rationalization. Habermas analyzes how the Western rationalization of ecnomic and political systems has colonized the lifeworld in which we communicate each other, and wants to formulate a new normative foundation for critical theory of society which highlights communicatie reason (without any consideration of spatial concepts). On the basis of the above consideration, this paper draws a new norizon of method in human geography and spatial theory, some essential ideas of which can be summarized as follows: (1) the concept of space especially in terms of its relation to sociery. Space is not an ontological entity whch is independent of society and has its own laws of constitution and transformation, but it can be produced and reproduced only by virtue of its relation to society. Yet space is not merlely a material product of society, but also a place and medium in and through which socety can be maintained or transformed.(2) the constitution of space in terms of the relation between action and structure. Spatial actors who are always knowledgeable under conditions of socio-spatial structure produce and reproduce their context of action, that is, structure; and spatial structures as results of human action enable as well as constrain it. Spatial actions can be distinguished between instrumental-strategicaction oriented to success and communicative action oriented to understanding, which (re)produce respectively two different spheres of spatial structure in different ways: the material structure of economic and political systems-space in an unknowledged and unitended way, and the symbolic structure of social and cultural life-space in an acknowledged and intended way. (3) the capitalist space in terms of its rationalization. The ideal development of space would balance the rationalizations of system space and life-space in a way that system space providers material conditions for the maintainance of the life-space, and the life-space for its further development. But the development of capitalist space in reality is paradoxical and hence crisis-ridden. The economic and poltical system-space, propelled with the steering media like money, and power, has outstriped the significance of communicative action, and colonized the life-space. That is, we no longer live in a space mediated communicative action, but one created for and by money and power. But no matter how seriously our everyday life-space has been monetalrized and bureaucratised, here lies nevertheless the practical potential which would rehabilitate the meaning of space, the meaning of our life on the Earth.

  • PDF

A study on the systematic approach of the Korean automotive design developing and the necessity of an automotive museum (국내의 자동차 디자인 발전과정의 체계화와 자동차 박물관의 필요성에 관한 연구)

  • Koo, Sang
    • Archives of design research
    • /
    • v.14 no.4
    • /
    • pp.57-64
    • /
    • 2001
  • The Korea's automotive industry has been changed since 1990's for the global reform of the automotive industry even though the rapid growth of domestic market from the late 1980's to early 1990's The cultural understanding for an automobile in the Korea society has been relatively lacked by the political reason, which focused on the economic growth through the industrialization. This works as a limit which caused by the point of view which is concentrated into the automotive industry as an economy developing tool. As much as being observed in the advanced nations which have the long history and huge scale of the automotive industry, an automobile is not only a single product, but also a way of life which has a cultural background. It is possible to develop a competitive quality and design with an understanding the cultural background. And the most important thing to the Korean automotive industry is a uniqueness with the cultural character which is gained by the cultural understanding of automobile as in the public Therefore the contribution of infrastructure of Korean automotive industry and culture would become more important in the future.

  • PDF

A Study on the Theory of Overseas Direct Investment (해외직접투자이론(海外直接投資理論)에 관한 소고(小考))

  • Bin, Bong-Sik
    • The Korean Journal of Financial Management
    • /
    • v.1 no.1
    • /
    • pp.119-131
    • /
    • 1985
  • Although Korea is short of capital technology, and natural resources, she has achieved an outstanding progress by the export-drive policies by Korean government and the creative endeavor of Korean firms. As a result of that, Korean economy and enterprises are in the same file of newly industrialized countries and Korea is ready for an economic take-off as a developed country. But in the early 1980s, each country strengthens protective trade theory and resources nationalism, and this has a great influence on the field of international trade environment. In spite of that, to continue the same high development as that of the past. Korea must try to secure and find export markets, solve trade barriers, make sure of the long-term security of resources, develop technology, and strengthen economic cooperations. To satisfy these desires by 2000s, we must try to make Korean enterprises have the global competitive power and them grow strongly among world wide firm through capital and technology accumulated during the passed years, and to do so, there must be a foreign production and marketing management, too, this can be achieved only through foreign overseas direct investment. This investment has various forms, to say, verifical integrated, horizontal integrated. conglomerate integrated forms, and the amount of investment in each country from 18 century to today reaches 500 billion dollars. This investment is done by strategic, behavioral economic, and financial motives. So I am going to approach the fields of like these; in spite of the differences among political, economical, caltural, and social systems, and many risk compared with domestic enterprises, why do Korean firms witsh to transfer the productive facilities to overseas countries and run them there? What is the comparative advantage of foreign direct investment compared with domestic investment ?. why is the factor of comparative advantage transferred through foreign direct investment?, what is the motive of foreign overseas direct investment?, and last the ownership-specific factors and the theory of internalization, and the location specific factors were analysed chiefly. But in consideration of the given condition in Korea, Korean overseas direct investment must be propelled rationally on the basis of the above mentioned theory.

  • PDF

Deconstructing Global Intellectual Property Rights Regimes over Biodiversity (생물다양성과 지적재산권, 그리고 국제통상에 관한 지리학적 고찰)

  • Kim Sook-Jin
    • Journal of the Korean Geographical Society
    • /
    • v.41 no.2 s.113
    • /
    • pp.195-211
    • /
    • 2006
  • During the 1986-1994 Uruguay Round negotiations under the General Agreement on Trade and Tariffs (later World Trade Organization), the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) was adopted by participating countries. TRIPS has not only allowed intellectual property to be introduced into international trade arenas, but also extended the scope of protection to biodiversity such as plant genetic material, arguing that intellectual property rights (IPRs) would help conserve biodiversity. In this paper, I aim to deconstruct the global IPRs regimes over biodiversity by adopting geographers' sensitivity to place and scale as an analytical window. By investigating how all the issues regarding IPRs over biodiversity that are raised by diverse disciplines, such as environmental ethics, environmental economics and political economy approach, are scale-related, I demonstrate how biodiversity IPRs, and its introduction into international trade agreements, though separate issues with no inevitable relationship to one another, have been put together for the construction of global IPRs regimes. I argue that the notion on the construction of scale (i.e., rhetorical and discursive construct of globalization) can contribute to revealing how fragile global environmental conservation regimes are.

Prospects and Problems in the Study of Geography related to the Concept of Commodity, Transport, and Supply Chains (상품.교통.공급사슬개념과 관련된 지리학의 연구와 과제)

  • Han, Ju-Seong
    • Journal of the Korean Geographical Society
    • /
    • v.44 no.6
    • /
    • pp.723-744
    • /
    • 2009
  • The purpose of this paper is to clarify the prospects and problems in the study of geography related to the concept of commodity, transport, and supply chains. The geography studies related to commodity chains are expanded to each field of industry focusing on the subjects and economic difference which lead the commodity chain in core and periphery regions. These vertical connection are studied with the political economy approach that gives attention to geographical pattern of agricultural products and foods. But in viewpoint of commodity circuit and commodity network, the culture or subjects of micro regions and interaction are also studied. The contents of these study are to clarify the importance of cultural turn and local. And the study of chain standpoint appears that the series of transport process by transportation modes can be understood by transport chains and the physical distribution process of sea freight is to be grasped by supply chains.

Real Option Study on Sustainable DMZ Management under Biodiversity Uncertainty (생물다양성 불확실성하에서 지속가능한 DMZ 관리 실물옵션 분석)

  • Lee, Jaehyung
    • Environmental and Resource Economics Review
    • /
    • v.28 no.4
    • /
    • pp.617-643
    • /
    • 2019
  • The Demilitarized Zone(DMZ) is a buffer zone set between the southern and northern limit lines established after the 1953 Armistice Agreement. It is an important natural environment conservation area where wild species of animals and plants live. On the other hand, the development pressure on the DMZ will increase when the inter-Korean economic cooperation is activated in the future. As a result, DMZ development should consider not only the economic cost-benefit aspects, but also how to assess and conserve the biodiversity of the DMZ, as well as the recovery costs and budget. This paper develope a sustainable DMZ management model under biodiversity uncertainly by using real option approach. The model is also designed to reflect the political risk and regional specificity of the DMZ. Through empirical analysis, I derive the biodiversity threshold (b*) that can secure the DMZ investment economy under uncertainty. In addition, through the sensitivity analysis, I derive the factors influencing the biodiversity threshold, and suggest the policy implications for sustainable management of DMZ.

An Empirical Investigation of the Citizens' Freedom of Expression and Trust in Public Agency to use Social Media in Post-Communist Countries: The Case of Mongolia

  • Erdenebold, Tumennast;Kim, Suk-Kyoung;Rho, Jae-Jeung;Hwang, Yoon-Min
    • Asia-Pacific Journal of Business
    • /
    • v.12 no.1
    • /
    • pp.41-56
    • /
    • 2021
  • Purpose - This empirical study examined the influence of post-communist countries sociol-political factor of freedom of expression preconditioning, and trust in agency, mediating performance expectancy of social media users representing the citizens' behavioural intention to utilize social media in a post-communist country, the case of Mongolia. Design/methodology/approach - This research collected 403 valid survey data from citizens those who use social media in Mongolia. The study used Partial Least Squire (PLS) analysis with the research conceptual model founded on the UTAUT model. Findings - The study shown that citizens in post-communist, they strongly willing freedom of expression, which driving as a positive precondition factor, and this has an indirect positive influence, and trust in agency mediates to enhance performance expectancy. Social influence, and effort expectancy factors have direct positive influence on the intention to use of social media systems in the public sector domain of Mongolia. Research implications or Originality - This research proposed a new model to test citizens' intention to use social media as a communication tool to engage with public organizations in the pre-adoption stage of post-communist countries. Theoretically, this research builds up to the unique theoretical contribution with social media by examining a new social media-based third-party intercommunication medium, incorporating intent to utilize for citizens with government in post-communist countries. Practically, this article lays out the directions to aid social media usage for government sector with concerning citizens intentions in the post-communist situation.