• Proceedings of the Korea Technology Innovation Society Conference
• /
• 2000.11a
• /
• pp.346-356
• /
• 2000

This paper aims to analyse the relationship between R＆D investment and economic growth in Korea. The analysis result shows 38 percent of average economic growth rate(7.1%) of Korea between 1976 and 1998 was achieved by the growth of Total Factor Productivity (TFP), and the R&D investment during the period contributed in achieving the economic growth rate by as much as 9.86 percent. In the process of the estimate, the rate of return of the R&D investment from both government and private was calculated as 47 percent. The relationship between private R&D investment, government R&D investment and the GDP was also investigated, and it was estimated that the private sector invested 2.0 percent of the GDP in R&D during the period, and was found that 1 won of government R&D investment induced 0.202 won of private sector's R&D investment. However, the time-lag effect, which is naturally believed to exist between the R&D investment and the economic growth, could not be analysed in a mathematical form, because of the lack of the data to establish this relationship. However, this paper believe that the time-lag effect in this relationship was included implicitly by using the data of 23 years.

• Journal of Korea Technology Innovation Society
• /
• v.7 no.2
• /
• pp.257-281
• /
• 2004

In this paper we： (1) analyze the relationship among public R＆D investment, private R＆D investment, and GDP by employing the Clangor causality test; (2) examine if there is any country-specific pattern in the relationship by testing the cases of Korea, the U.S. and Japan. We found some common results for the above countries as follows： (i) GDP causes Public R＆D, not vice versa; (ii) Private R＆D causes GDP; and (iii) Public R＆D does not cause Private R＆D. For the bivariate model of GDP and total R＆D, the results show the existence of one-way causality running from total R＆D to GDP f3r both U.S. and Japan. We also found bidirectional causal relationship between GDP and total R＆D for Korea, which could be interpreted as a typical pattern for newly industrialized countries.

• Journal of Family Resource Management and Policy Review
• /
• v.16 no.4
• /
• pp.131-152
• /
• 2012

The aims of this study were to analyze middle-aged households' financial preparation for retirement. Specifically, this study surveyed the relation between human capital investment for children and the middle-aged households' financial preparation for retirement and investigated factors influencing financial preparation for retirement. Data were obtained from the 3rd Korean Retirement and Income Study (KReIS) in 2009, and a sample of 757 households was selected. The statistical methods were frequency, percentile, mean, standard deviation, ${\chi}^2$, t-test, Pearson's correlation coefficient, and logistic regression analysis. The findings of this study are as follows. First, the percentile of preparation for living costs for old age was 49.9% for the middle-aged households. In terms of the types of preparation for living costs for old age, the results showed 61.6% of personal preparation, 33.9% of pension system, and 1.3% for children and relatives. In relation to the adequacy of the preparations for living costs for old age, preparations made by 57.4% of the middle-aged households were inadequate. Observing the minimum living costs for old age and adequate living costs after retirement for single and couple, the minimum living costs of the middle-aged households was 1.46 million won for couple and 0.91 million won for single. The adequate living costs for old age was 2.07 million won for couple and 1.34 million won for single. Second, there were 757 households with total education expenditure. Of these, 208 incurred annual expenditure on public education, and the annual expenditure for public education was 7.28 million won. There were 170 households with annual expenditure for private education, and the annual expenditure for private education was 2.50 million won. 243 households of middle-aged households had annual expenditure for human capital investment, including both public and private education, with annual expenditure for human capital investment for children of 7.82 million won. Furthermore, in the human capital investment factor, there was a difference in the middle-aged households' financial preparation for retirement according to their annual expenditure for human capital investment including both public and private education. In addition, there was a difference in financial preparation for retirement based on their public education expenditure. Third, in the logistic regression model 1, which included human capital investment, the significant variables affecting the preparation for retirement of the middle-aged households were as follows : annual household income, total amount of annual household income, experience of inadequate living costs, existence of financial assets, total amount of annual household savings, financial independence, adequate living costs (for single) for old age, and human capital investment. In the logistic regression model 2, which included annual expenditure for public education and annual expenditure for private education, the significant variables affecting the preparation for retirement of the middle-aged households were as follows : annual household income, total amount of annual household income, experience of inadequate living costs, existence of financial assets, total amount of annual household savings, financial independence, adequate living costs (for single) for old age, and annual expenditure for public education.

• Journal of Technology Innovation
• /
• v.18 no.1
• /
• pp.75-98
• /
• 2010

The purpose of this paper is to give policy implications for relevant policy-makers by analyzing factors affecting performance of industrial R&D programs of the Ministry of Knowledge Economy. The independent variables are type of project leader organization(Big Enterprises, SMEs, Ventures Businesses, Public Research Institutions, Universities), cooperative or noncooperative R&D among industry-university-research institution, total number of project participant organization, total R&D investment, and the ratio of private investment to total R&D investment. The dependent variables are domestic or foreign patents granted and domestic or foreign papers accepted. The method of analysis is Poisson Regression analysis operated by STATA. The results of this research are follows ; Universities show higher R&D performance compared to enterprises or public research institutions in terms of patents and papers as well. Venture businesses show higher patent performance compared to SMEs. Inverted U-shaped relationship between total number of project participant organization and R&D performance is not supported. The higher total R&D investment, the higher R&D performance. The higher the ratio of private investment to total R&D investment, the higher R&D performance.

• Proceedings of the Korea Technology Innovation Society Conference
• /
• 2004.05a
• /
• pp.77-97
• /
• 2004

In this paper we: (1) analyze the relationship among public R&D investment, private R&D investment, and GDP by employing the Granger causality test; (2) examine if there is any country-specific pattern in the relationship by testing the cases of Korea, the U.S. and Japan. We found some common results for the above countries as follows: (i) GDP causes Public R&D, not vice versa; (ii) Private R&D causes GDP; and (iii) Public R&D does not cause Private R&D. For the bivariate model of GDP and total R&D, the results show the existence of one-way causality running from total R&D to GDP for both U.S, and Japan. We also found bidirectional causal relationship between GDP and total R&D for Korea, which could be interpreted as a typical pattern for newly industrialized countries.

• The Journal of Sustainable Design and Educational Environment Research
• /
• v.6 no.1
• /
• pp.25-48
• /
• 2007

Korean government implemented the Build-Transfer-Lease (BTL) mechanism since 2005 as one of the privatization methods to procure the social infrastructure with private investment. The mechanism was originally prepared 10 provide such public properties as education facilities, child-care facilities, old generation recuperation facilities, medical welfare facilities, military personnel's apartments, environment facilities, and lease apartments. Since 2005, a total of 13.5 trillion won-valued private fund has been directed to the public educational facilities, which occupies 58% of the total private investment in the facilities of the seven categories. However, many officials in the local public entities have anticipated that the local entities need to be restructured or downsized because of the privatization in stead of providing the educational facilities by governmental finance. The main objective of this study is to identify the appropriate technocrat organization structures to manage the privatization procedures.

• The Journal of Asian Finance, Economics and Business
• /
• v.10 no.1
• /
• pp.189-199
• /
• 2023

This research aims to give information about the current situation of five financial sources for climate change in Vietnam, including (i) the State budget used by ministries; (ii) the State budget used by provinces; (iii) Bilateral funds; (iv) Multilateral funds; and (v) Private funds, and then classify them in line with the effectiveness. The working paper's secondary data on spending on CC-related activities, collected from reports of six ministries and 29 provinces, show that the State budget has been crucial in subsidizing CC-related activities in Vietnam. Moreover, domestic investment has accounted for a major part of the total expenditure of ministries and provinces for climate change. In addition, by using primary data collected from surveys sent to twelve experts from 5 groups, such as researchers, practical experts, managers of private funding organizations (such as banks and enterprises), managers of international funding organizations and beneficiaries, and then analyzing the data through the AHP method, the study shows that all climate finance sources in Vietnam are still not very effective. However, private sector funds are considered the most effective financial source for responding to climate change.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• autumn
• /
• pp.119-126
• /
• 2001

This paper analyzes problems related to total cost changes in private investment projects, and then proposes an improvement measure for the control of cost changes within the framework of the project management, contract, human resource, project communication, cost, and time management. From the viewpoint of contract management, the basis of cost change ought to be cleared up with standardization of related provisions in the concession agreement, and potentiality of change ought to be excluded with prescription of the private investor's leading role from the design phase. Regarding human resource management, this paper proposes a standard work flow granting much sovereign rights to private parts by putting restriction on work scopes of the entrusted authority of government, and transferring the rights of assignment, contract, and control about the responsible supervisor to the concessionaire. With regard to project communication management the notification of changes on drawings and technical documents ought to be automated and the realtime database ought to be established with DMIS (Drawings & Documents Management Information System). From the cost management point of view, this thesis integrates the control of cost-change-approved items and disapproved items to one cost breakdown system, and then harmonizes the actual progress with EVMS in time management.

• Journal of Technology Innovation
• /
• v.27 no.3
• /
• pp.27-52
• /
• 2019

This research studied the determinants of private R&D investment by examining the innovation strategies of 481 small and medium enterprises (SMEs, their employee size is 5 or more and less than 300) in Busan, South Korea. The data is derived from the Technology Survey of Small and Medium Enterprises in 2001 and 2003. Three explanatory variables for the innovation strategies are the R&D portfolio, the organization (personnel) for R&D, and the strategic role of CEO for innovation. The technological levels of industries are controlled in the linear regression model. The dependent variable is the total private R&D investment of a firm in the given fiscal year. The empirical results indicate that the private R&D investment positively correlates with the complexity of the R&D portfolio, the formal organization for R&D team, and the increase of R&D personnel. The formal organization for R&D team and the number of R&D personnel are correlated with the increase of private R&D investment across the four groups in the manufacturing sector but not in the service sector. These findings suggest that the innovation policy needs to target firms who have complex R&D portfolios, the formal organization of R&D teams, and sufficient R&D personnel in order to increase the private R&D investment of SMEs in regions, with consideration of industrial characteristics.

• Journal of the military operations research society of Korea
• /
• v.34 no.1
• /
• pp.79-98
• /
• 2008

The purpose of this paper is to find the desirable R&D policies in defense area by analyzing causality between GDP and R&D investments in government, private, defense sectors. We have five variables which are composed of GDP, total R&D investment, R&D investments in government, private and defense sectors to figure out the causality between R&D investment in defense sector and other components. In the course of analysis on causality, we took the unit root test of variables to prevent spurious regression. Also we need to take cointegration test about non-stationary variables before the causality test. According to these test results, we took the causality test using ECM(Error Correction Model) for the models which have cointegrating relations. And we took ordinary Granger causality test for model which doesn't have a long-run stationary relationship. As a result of the causality test, it was shown that there exists the long-nu causality to GDP and R&D investments in government and private sectors from other variables. However, there doesn't exist the causality to defense R&D investment from other variables. We found that there doesn't exist the causality between R&D investments in defense and private sectors, and that they are independent.