• Journal of the Economic Geographical Society of Korea
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• v.18 no.2
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• pp.152-167
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• 2015

This paper analyzes the effects of globalization on growth gaps between regions. Using openness and FDI as measures of globalzation in Korean 16 broad autonomous territories the study estimates the effects of the variables on growth gaps between regions. Estimation results show that FDI is significant in explaining the regional gaps while openness is not. The results of the study reveal that attracting FDI to weaker regions, especially the investment in New Industries, is inevitable to resolve growth gaps and for balanced growth among regions. Also, policy makers should use FDI as an important tool for correcting regional gaps as well as the vehicles for regional development.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.665-672
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• 2021

The paper examines the impact of shadow economy and corruption, along with public expenditure, trade openness, foreign direct investment (FDI), inflation, and tax revenue on the economic growth of the BRICS countries. Data were collected from the World Bank, Transparency International, and Heritage Foundation over the 1991-2017 period. The Bayesian linear regression method is used to examine whether shadow economy, corruption and other indicators affect the economic growth of countries studied. This paper applies the normal prior suggested by Lemoine (2019) while the posterior distribution is simulated using Monte Carlo Markov Chain (MCMC) technique through the Gibbs sampling algorithm. The results indicate that public expenditure and trade openness can enhance the BRICS countries' economic growth, with the positive impact probability of 75.69% and 67.11%, respectively. Also, FDI, inflation, and tax revenue positively affect this growth, though the probability of positive effect is ambiguous, ranging from 51.13% to 56.36%. Further, the research's major finding is that shadow economy and control of corruption have a positive effect on the economic growth of the BRICS countries. Nevertheless, the posterior probabilities of these two factors are 62.23% and 65.25%, respectively. This result suggests that their positive effect probability is not high.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.19-27
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• 2022

The size of the government is one of the most fundamental debates of open economies. In any economy, government plays an important role, but a pertinent level of economic prosperity has never been obtained in history without government. Therefore, the objective of this paper investigates the association of government size, economic volatility, and institutional quality for 182 economies from the time period 1996-2016 is collected from the World Bank database. GE is defined as the General government's final consumption expenditure. Health expenditure is represented by HE. Government expenditure on education is denoted by EDUEXP. The economic volatility is measured by the rolling standard deviation of GDP per capita growth rate, Population growth, Trade openness, GINI represented Gini index which measures the degree to which the income distributed or consumption expenses among citizens deviates from a perfectly equal distribution. The results proposed that economic volatility has a significant effect on government size and institutional qualities. Moreover, the paper extends the investigation by finding the link between economic volatility with government health and education expenditure separately. The policy implication drawn from this analysis is that controlling economic volatility may reduce the size of government and also significantly affect health and education expenditures.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.111-122
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• 2021

The main purpose of the present research is to analyze the effects of trade, financial globalization, and technological progress on income inequality in the Indian economy over the period from 1982 to 2018. For this purpose, the study uses economic growth, financial globalization, trade openness, technological development, and economic inequality variables with appropriate proxies. The study employs the Auto Regressive Distributed Lag (ARDL) approach to co-integration and VECM based Granger causality approach to estimate both the short-run and long-run relationship and causality among variables. Using the ARDL bounds test, the study finds a long-run co-integrating relationship existing among the variables in the model. The study confirms the existence of a positive and significant impact of technological progress on income inequality. Further, globalization's limited impact reflects two offsetting tendencies; trade globalization is associated with a reduction in income inequality, while financial globalization is related to an increase in inequality. The results of VECM based Granger causality approach further confirm that technological progress, trade, and financial globalization causes income inequality both directly and indirectly through economic growth and inflation. In case of India, the results of this research can significantly facilitate stakeholders and policymakers in devising policies towards effective globalization and technological innovation for inclusive growth.

• The Journal of Economics, Marketing and Management
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• v.11 no.5
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• pp.57-67
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• 2023

Purpose: An evaluation of Uzbekistan's steps towards competitiveness for FDI globally is presented in this paper. Specifically, the purpose of this paper is to analyze the case of Uzbekistan, and to determine the strategies that can be implemented to increase the competitiveness in attracting foreign investment. Research design, data and methodology: To investigate the FDI environment and identify effective strategies, Global RPM and QSPM analyses were conducted in addition to in-depth interviews with experts. In particular, this study uses the method of Global RPM analysis to make a comprehensive evaluation and analysis on globalization, rationality, and professionalism and morality dimensions of FDI in Uzbekistan. Results: According to the analysis, the conditions of political situation, financial stability, legal frameworks, as well as economic environment of the country play a significant role in bringing in FDIs from abroad. Moreover, based on the results, Uzbekistan scored lowest on globalization, indicating that the country has a low level of integration and openness to the global economy and society. Conclusions: Uzbekistan can boost its productive capacity and GDP growth with FDI, but it has to overcome many structural and logistical obstacles. Furthermore, adhering to the chosen strategies, policymakers can leverage FDI to stimulate economic growth, leading to the generation of new jobs and expanded opportunities in Uzbekistan.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.64
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• pp.213-237
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• 2014

The medical-device market of Myanmar in the recent Asian region is where the influences of Thailand, China, India and Singapore are being shown considerably with the lift-up of economic sanctions by America and the West. However, although the global capital and liberalization have widened the openness and the international concerns, the relative Myanmar's medical environment demands an active assistance and improvement. The study, recognizing the importance of Medical-Devices and their market conditions emerging as key business for knowledge-based industry, aims to obtain consequential meaningful suggestions, pursuant to relative export-concentration and sustainable market growth of Medical Devices, by analyzing inter-nation trade intensity for key Medical Device items. To do so, this study selected 8 nations in total by reviewing three points: core Medicine-advanced countries, geographically adjacent countries to Myanmar, and relative export-concentration.

• International Commerce and Information Review
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• v.8 no.1
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• pp.69-86
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• 2006

The trade volume between South and North Korea has reached 1 billion dollars in year 2005. This means the economic motives may prevail over the political concerns between two regimes from now on. At the same time, the direct telecommunication lines installed to promote the IT collaboration. Based on these monumental issues, the research focuses on the workable mechanism of the South-North Korean e-Market Place(e-MP) collaboration project. The research analyzes on the capabilities as well as willingness of the South and North Korea for the e-MP, and concludes with four stepwise approach to promote the South and North Korean e-MP. The first step initiates the web marketing integration, and then the second step provides the legal environments. The third step promotes the on-/off- trade-automation via infrastructure collaboration, and the final step expands and deepens the flexibility as well as openness of the e-MP.

• East Asian Economic Review
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• v.25 no.2
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• pp.151-174
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• 2021

This paper empirically examines whether and how inward foreign direct investment (FDI) affected industrial productivity in Korea during the 2000-2016 period, based on dynamic panel data of inflow FDI on an arrival basis from 427 manufacturing industries. The paper adds to the literature by analyzing whether both technology spillovers and industrial restructuring from inward FDI can differ according to industrial characteristics such as capital intensity, imported intermediate inputs, and tariffs. The empirical results show that the overall effects of inward FDI on total factor productivity (TFP) were statistically insignificant in general. However, the positive effects of inward FDI on productivity became statistically significant for industries with lower tariffs. Capital intensity were not involved in the relationship between inward FDI and productivity. Thus, the paper highlights that the results in previous studies with inward FDI on a notification basis were overestimated and inward FDI policies in Korea should focus on channels such as trade liberalization and the redistribution of production factors rather than capital accumulation.

• Korea Trade Review
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• v.46 no.1
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• pp.39-57
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• 2021

Developing countries are in competition to attract ODA and FDI in an effort to overcome poverty and development. This study tries to identify factors influencing the distribution of ODA and FDI resources and analyzes if ODA and FDI are in complementary relationship. We use a panel data for 53 African countries during early and middle of 2000 period. Factors affecting the ODA distribution include per capita GDP, physical infrastructure, good institutions of receiving countries. FDI was found to be positively affected by market size, trade openness, human capital accumulation, business-friendly regulatory environment. The impact of ODA is believed to be more effective and sustainable if it has a complementary relationship with FDI. Our result, however, did not confirmed the complementarity relation between the two.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.289-294
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• 2020

The study of environmental pollution plays an important role in controlling emissions in the production activities of FDI enterprises as well as export goods. Vietnam is a country with a large proportion of FDI contribution and high export value. Therefore, there should be studies to assess the actual effects of FDI and the openness of the economy (trade) on the environment. Therefore, the authors conduct research on the role of FDI and trade on environmental quality in Vietnam. With data collected from 1990 to 2018 (from the period of Vietnam's economy opening up) through the ARDL (Autoregressive Distributed Lag) model, the results show that FDI has a positive impact on CO2 emissions in the short term but has no impact on the long-term (In this study, CO2 is considered to represent environmental quality). The trade has a positive impact on CO2 emissions in both the short term and long term. The results of the study show the actual shortcomings of FDI as well as production activities in the export enterprises in Vietnam. From the results of this research, the author also provides the causes and remedies to control of CO2 emissions from two activities of foreign direct investment and trade.