• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.85-94
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• 2021

Infrastructure capacities are essential elements and one of the sustainable lines to drive economic growth. Infrastructure development, both physical and social, is vital to sector-wise economic development. However, there is limited evidence of how infrastructure development in certain sectors benefits the economy as a whole. This study explains the relationships between infrastructure and economic growth in selected middle-income Asian countries, highlighting the essential criteria to benefit from both physical and social infrastructure, as well as sectoral (agriculture, industry, and services) economic output. The research uses the data from 1990 to 2020 for empirical estimations. The study used Levin, Lin, & Chu test, ADF- Fischer chi- Square, and PP- Fischer Chi-Square to test unit root and to observe the stationary nature of the panel. Padroni and Kao cointegration is applied to check the cointegration among different panes. A Fully Modified OLS was employed for checking the association between physical and social infrastructure and economic growth. Results show that physical and social infrastructure negatively impact sectoral output in Asia's middle-income countries. Apart from infrastructure the per capita GDP growth, tax to GDP ratio, and population growth shows a simultaneous relation between infrastructure and sectoral economic growth.

• Management & Information Systems Review
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• v.20
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• pp.137-156
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• 2007

This study had an objective to obtain a result of the economic impacts of lodging industry on the Koran economy. Using the input-output model(I-O model), lodging industry sectoral multipliers were derived from the effects of output, income, employment, value added. indirect tax, and import. According to results of this study, estimated economic impacts of the convention industry were $2,950 million in output, $712 million in income, 92,257persons in employment, $1,590 million in value added, $12 million in indirect tax, and $226 million in import sectors.

• Environmental and Resource Economics Review
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• v.12 no.1
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• pp.91-120
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• 2003

This paper is intended to measure sectoral sustainabilities and inter-industry linkage effects of natural capital depletion of the Korean industries, and to analyze sources of their change over time using the familiar input-output model. The sustainability indicator that we are measuring in this paper is based on the so-called genuine saving concept proposed by the World Bank(1997). We accommodated the concept in the extended analytical framework of Proops et al.(1999) to analyze sectoral sustainabilities of the Korean industries. We decomposed sectoral sustainabilities so measured into their composing factors based on the decomposition method devised by Chung & Rhee (2001). According to our analysis, overall sustainability of the Korean industries has been declined since 1995. In heavy and chemical, transportation, and electricity sectors, their sustainabilities has been gotten worse. Among four major factors influencing the sustainability, change in GDP was the most important followed by changes in savings, industrial structures, and demand patterns.

• East Asian Journal of Business Economics (EAJBE)
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• v.7 no.4
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• pp.51-58
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• 2019

Purpose - This paper aims to analyze the difference of technological innovative pattern by industry. Research design and methodology - we try to identify the major factors which can exert an effective influence on actual innovation output, utilizing the result of Korean Innovation Survey. By doing so, this work can make a comparison with Pavitt (1984) and succeeding discussion on sectoral pattern of innovation Results - Analysis on major industry in Korea shows that there are substantial differences in terms of the source of innovation, organization-related factor, and appropriation mechanism among each industry, and differential strategy to be proper for the nature of each industry is needed. There is some variation within industries which deemed as same type of sector defined by Pavitt. Conclusions - This analysis call for elaborate analysis on sectoral pattern of innovation, considering the change and difference of innovative environment as well as differential business strategy and way to do innovate, which is proper considering the nature of innovative pattern in each industry for successful technological innovation in Korea. At the same time, proper policy measure considering the differential pattern of technological innovation is needed.

• East Asian Journal of Business Economics (EAJBE)
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• v.8 no.4
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• pp.67-77
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• 2020

Purpose - This work tries to analyze the transformation of sectoral innovation pattern as time goes by to enhance the understanding on sectoral innovative activities, particularly considering the change of the nature of knowledge, and the trend of convergence. Research design, data, and methodology - This work tries to identify main factors, which determine the output of technological innovation through the econometric analysis, utilizing the result of Korean Innovation Survey and find a stylized fact on the change of the innovation pattern. Result - As a result of estimation, some major elements show different effects for two discrete years, 2002 and 2010; in chemical industry the open information source and neutral basic research become more important with the appropriation mechanism such as patents, and in machinery industry, the importance of internal information has been getting decreased with rising importance of customers. Conclusion - This work presents that some elements show different effects for two discrete years. Among three major elements, the source of information and appropriation mechanism shows different features for both industries. This means that we should explicit consider the changing nature of innovative environment, which leads to and heavily influence whether the innovative activity would be effective or not when we design innovation strategy and innovation policy.

• Korean Journal of Construction Engineering and Management
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• v.15 no.3
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• pp.120-127
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• 2014

Currently Welfare is emphasized and the trend of SOC investment shows downwards slopping. The pattern of SOC investment also changes focusing on railroad as environmental issues are critical. This study analyzes and compares the effects of sectoral SOC investments based on Input-Output Tables published by BOK (Bank of Korea). The production inducement, value-added inducement, and employment inducement effects of each sector SOC, which consist of road, railroad, port, and airport, are investigated. First, in view production inducement, sectoral SOC investments have stronger economic effects than manufacture sector. The investment of port and road show the highest value-added inducement in construction process. The investment of road records the highest employment inducement in construction and operation process. The empirical ananlysis of regional economic effects, using Regional Input-Output Tables, supports these explanation showing almost same results. As synthesizing these results, the SOC stocks have to be invested consistently for long periods. Especially the road investment is inevitable for employment. Which sector of SOC is invested depends on circumstances. If government emphasizes production inducement, railroad is invested. If focuses on value-added inducement, port.

• Journal of Korea Water Resources Association
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• v.30 no.4
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• pp.367-377
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• 1997

In order to set public policy to overcome 'water crises' on both quantity and quality of water, we looked into the national-economic role of Korea water utility by two approaches. First, we examined the relationship between water consumption and economic growth during 1978-94, a period of rapid increase in water consumption caused by prompt industrialization and urbanization. The price and income elasticities of aggregate and sectoral demand for water were estimated. Second, we developed a static input-output(I-O) framework for analysing water issues in the short run. In addition, we discussed two topics in its application: i) sectoral failure(shortage) costs by supply-driven I-O model, ii) Leontief price model's sectoral pervasive effects of price due to rise in water rate. In conclusion, we found that investments to water sector and water shortage has a big influence on the standard of living and industrial production. Also we found that raising water rate to encourage conservation or to create investment funds decreases demand for water significantly but has a small influence on overall price levels.

• Environmental and Resource Economics Review
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• v.14 no.3
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• pp.729-751
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• 2005

RPS(Renewable Portfolio Standards) is an institutional device to promote use of renewable energy through market mechanism by making renewable energy to constitute a pre-announced portion of the electricity production. We measure economic impacts of the introduction of RPS to domestic electricity market at the levels of electricity market, individual industrial sectors and the economy as a whole. First, we examine the TREC(Tradable Renewable Energy Credits) market, where the credits in excess of the obligation of the renewable energy production are sold to those who have to meet the obligation through purchased credits. We then measure end-users' additional cost originating from the introduction of RPS and TREC in electricity production, and their impacts on price and supply in the retail electricity market. Next, using input-output analysis, we measure economic impacts of the changes in retail price and supply on individual industrial sectors and the economy as a whole. Among many others, we find small price effect and large GDP effect - sectoral electricity price rises at around 5%, sectoral price level rises by 0.258%, and sectoral GDP declines by 1.940% on average by the year 2011.

• KEPCO Journal on Electric Power and Energy
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• v.3 no.1
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• pp.65-72
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• 2017

This study analyzed causal relationship between electricity consumption and economic output (GDP) for Korea from 2001 to 2014 employing the vector error-correction model estimation by manufacturing sector. The results of unit-roots tests show that all sectoral GDP and electricity consumptions were not stationary. And cointegration tests show that processed foods, Wood Pulp Paper, electricity apparatus, Precision Medical sectors had a linear combinations in the long run between electricity consumptions and economic growth. With respect to the direction of causality, manufacturing sector has a uni-directional running from economic output (GDP) to electricity consumption in short term. The results of study show that sectoral causal relation were different each other in short term and long term. These findings imply that electricity demand management policy focusing on efficiency improvement is necessary to minimize negative impacts on economic growth and to adopt suitable structural policies can induce energy conservation.

• International Area Studies Review
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• v.15 no.1
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• pp.469-493
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• 2011

This paper attempts to examine the economic impact of technological barrier to trade(TBT) between Korea and China by using international input-output approach. With the tariff/quota reduced or eliminated since WTO's launch, the interest in TBT as a non-tariff barrier has been increased, and then there have so far been a large number of empirical studies on quantifying its effect in foreign. But still this area of study in Korea is limited in the literature survey. In encouraged in this situation, focusing on bilateral trade between Korea and China, which has been significantly increased in recent years, we have tried to estimates the impact of TBT on their output and employment. We use Asian International Input-Output Table(AIIO) for the year 2000 published by IDE-JETRO, and also use the estimated sectoral TBT provided by Ha et al.(2010). According to the result, there will be generated $3.63 billions values in outputs, and 18.1 millions persons in employments at most. And also we found that there is weak interdependence in sectoral and spatial linkage between two countries.