• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.95-104
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• 2019

Along with the economic globalization and network generalization, this provides a good opportunity to the development of cross-border e-commerce trade. Based on this background, this paper sets ASEAN countries as an example to exploit the determinants of cross-border e-commerce trade including the export and the import, respectively. The panel data from the year of 1998 to 2016 will be employed to estimate the relationship between cross-border e-commerce trade and relevant variables under the dynamic ordinary least squares and the error correction model. The findings of this paper show that there is a long-run relationship between cross-border e-commerce trade and relevant variables. Generally speaking, the GDP(+) and real exchange rate(-export & +import) have an effect on cross-border e-commerce trade. However, the population (+) and the terms of trade (-) only have an effect on cross-border e-commerce import. The empirical evidences show that the GDP and the real exchange rate always affect the development of cross-border e-commerce trade. Therefore, all ASEAN countries should try their best to develop the economic growth and focus on the exchange rate regime so as to meet the need of cross-border e-commerce trade development.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.3
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• pp.307-330
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• 2017

This paper attempts to elaborate on features of cross-border interaction conducted on Dan-dong, the main city of China-North Korea trade. Through the deep interview with some trader or firms and also questionnaire survey, this paper can reveal the supremacy of informal or non-market mechanism in the cross-border trade and inter-firm linkages, and also trader and firm's rent-seeking behaviour. These features show the uniqueness of border regime between China and North Korea. Even though it is getting more porous than before, I argue that China keeps the stance toward quite controlled borderland. As the proof of this argument, I show that main tenet of China's bordland policies is the borderland stability rather than the development. The striking one is the 'Prosperous Borders, Wealthy Minorities Program(??富民行???)'. In spite of the program's title, its utmost purpose is to secure the 'borderland stability and territorial integrity' rather than to enhance the border's openness and borderland's development.

• The Journal of Small Business Innovation
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• v.19 no.1
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• pp.37-58
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• 2016

Despite the growing importance of corporate venture capital (CVC) in the venture capital market, little scholarly attention has been devoted to cross-border CVC investment. Venture firms perceive higher risks of technology leakage in cross-border CVC investment than they do in domestic CVC investment due to geographical and cultural disparity. Given that venture firms would not receive CVC investment in the presence of the partner uncertainty, we argue that the likelihood of cross-border CVC investment increases with the strength of intellectual property protection (IPP) regime, the investment timing (i.e. funding round number), and the industry unrelatedness with the corporate investor. Additionally, we investigate how the venture firm's complementary resource need interact with the partner uncertainty in decisions for cross-border CVC investment. By examining 2,873 CVC investment transactions in the period 1994-2009, we found supporting evidence for the strength of IPP regime and the industry unrelatedness in mitigating the partner uncertainty of foreign corporate investors. However, the effectiveness of these factors is moderated by the type of resources that the venture firms need from the foreign corporate investors.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.3
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• pp.329-352
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• 2017

Since the late 2000s Korean foreign direct investors in North Korea and China border regions have gone through the closure of outward processing trade(OPT) networks and changes in their location due to UN security council resolution and Korean independent sanctions against North Korea's nuclear and missile tests. However, the introduction of new Chinese OPT policy has led to the invigoration of domestic market-based OPT networks towards North Korea. The main aim of this paper is to identify the exceptional characteristics of Dandong in Liaoning province, a North Korea and China border region by analyzing OPT networks towards North Korea. Fundamentally the establishment of OPT networks towards North Korea is likely to be based on the utilization of a plenty of low wages in North Korea. The main reasons for this are fallen into two perspectives: geo-economics and geo-politics. The first perspective is geo-economics centering on the consolidation of economic exchange between North Korea and China, and North Korean economic development. For example, the introduction of Chinese OPT in border region has enabled Chinese local firms based on domestic market to access a plenty of low wage in North Korea in formal and institutional contexts. The second is geo-politics for the stability of North Korean regime based on the means of geo-economics. As the invigoration of domestic market-based OPT networks might make North Korea possible promoting foreign money earning, it enable North Korea to be sustainable as a buffering region between capitalist and socialist regime for China. It shows Chinese geo-strategic attempts to deal with the economic and regime stability of North Korean as a buffering state. In other words, OPT networks in North Korea should be concerned with the discourse practice of geo-economics and geo-politics which might lead to various and contingent spatial economies in border region. As a consequence, North Korea and China border regions could defined as a space in which is applicable to exceptional institutions and policies, and an exploitative space in which create surplus and rents by utilizing a plenty of low wages in North Korea through OPT networks.

• SUVANNABHUMI
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• v.11 no.2
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• pp.159-186
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• 2019

Southeast Asia accounts for nearly a tenth of total worldwide cross-border movements of migrant workers. Cambodia, Indonesia, Laos, Myanmar, and Philippines make up the sending countries while Malaysia, Singapore, and Thailand are the major destinations. Migrant worker movements are predominantly in production process and low- to medium-skilled sectors. It is not unusual for irregular or undocumented movements to take place. In not a few instances, migrants work under harsh and exploitative conditions. In recent years, however, ASEAN has taken steps to manage labor migration at the regional level. The paper argues that ASEAN has not managed these cross-border labor flows as well as it should particularly in terms of protecting and promoting the human rights of migrants. It will be difficult to establish the genuine building blocks for a regional human rights mechanism unless there is a diffusion of alternative universal norms and standards to what ASEAN already embodies. As long as states resist any attempt to weaken or question or deligitimize their capacity to determine who gets to enter, stay, and leave their jurisdictions, it will be difficult to establish an effective migrant rights framework for the region.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.297-309
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• 2021

In this study, to capture the skewness and kurtosis detected in both conditional and unconditional return distributions of the stock markets of Kazakhstan and Russia, two versions of normal mixture GARCH models are employed. The data set consists of daily observations of the Kazakhstan and Russia stock prices, and world crude oil price, covering the period from 1 June 2006 through 1 March 2021. From the empirical results, incorporating the long memory effect on the returns not only provides better descriptions of dynamic behaviors of the stock market prices but also plays a significant role in improving a better understanding of the return dynamics. In addition, normal mixture models for time-varying volatility provide a better fit to the conditional densities than the usual GARCH specifications and has an important advantage that the conditional higher moments are time-varying. This implies that the volatility skews implied by normal mixture models are more likely to exhibit the features of risk and the direction of the information flow is regime-dependent. The findings of this study contain useful information for diverse purposes of cross-border stock market players such as asset allocation, portfolio management, risk management, and market regulations.

• Strategy21
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• s.38
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• pp.163-192
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• 2015

This study is intended for the Maritime Boundaries(Baseline) of the Unified Korea. According to the international law, North-Korea is recognized as a nation. Then with unification, the state succession will be a very important issue. Thus we should seek for the expected problems and counter-measures, by analyzing of the State-succession. There is a conflict of the positive or negative reaction about the state succession. However, in general, 'the principle of continuity' has been applied for at the national border treaty, regardless of the type of State succession. This can be found on Article 11 & 12 of the 「1978 Vienna Convention on Succession of States in Respect of Treaties」, Article 62, paragraph 2 of the 「1969 Vienna Convention on the Law of Treaties」, and a series of international case law. Currently it is being understood as customary international law. In summary, although South and North Korea, China, Russia and Japan are not the parties of 「1978 Vienna Convention」, the unified Korea will necessarily have a duty to succeed national boundaries(also, maritime baseline) of North Korea. Specifically, we have an objective and rigorous review of the treaty of maritime baseline that is signed between North Korea and neighboring countries, such as 「National Border Treaty Regime between North Korea and China」 and 「Treaty between the Union of Soviet Socialist Republics and the Democratic people's Republic of Korea on the Demarcation of the Soviet-Korea National Border」. Also, we analyzed 'Historical Bays' and 'Straight Baseline' system. By this, we are able to occupy a favorable position when renegotiating with neighboring countries, at the point of unification.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.1-9
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• 2021

This study aimed to investigate the existence of the Feldstein-Horioka (1980) puzzle in international macroeconomics by applying the conditional Autoregressive Distributed Lag (ARDL) model to examine the long-run relationship between national savings and investments in Thailand and China. The input of this study relied on annual national savings and investments as a fraction of GDP during 1980-2019 which was collected from China National Bureau of Statistics (NBS) and Thailand National Economic and Social Development Council (NESDC). Hypothetically, Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests were applied to test the stationary properties and to investigate the integration level of selected time series. The empirical results, confirmed by cumulative sum (CUSUM) and cumulative sum square (CUSUMSQ), maintained no serial correlation and structural break problems. The finding of this study suggested that the Feldstein-Horioka puzzle in Thailand did not exist significantly. Thailand's national savings and investments nexus was independent, following the classic economic idea that financial liberalization, or perfect capital mobility, allowed national savings and investments to flow freely to countries with better interest rates. Whereas, a strong significant correlation was found in the case of China during the fixed exchange rate regime switching in 1994 and post WTO participation after 2001-2019.

• The Journal of the Korea Contents Association
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• v.20 no.11
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• pp.447-456
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• 2020

Korean society is facing the 2017 regime and the era of the fourth industrial revolution. University education is trying to select agendas that focuses on public interest and innovation, which are key words, for change. Unlike recent efforts, practical changes are insufficient. There is a relative lack of discussion on the essence and theory of university education in South Korea. This study looked at the current location of Korean university education and discussed the essential direction from a point of view on critical pedagogy. So far, Korean university education has operated under the control of neo-liberalism for more than 20 years since the May 31 educational reform in 1995. Democracy and deindustrialization, the direction pursued by the 2017 regime and the Fourth Industrial Revolution, differs from neo-liberalism. Therefore, it is necessary to reflect on neo-liberalism and seek a subsequent turn of direction. Henry Giroux has been critical of the neo-liberalistic policy of American education, which has been a major discourse since 1980, and has discussed proposals for various changes. In particular, it provides clear coordinates for the features of human resources as educated people. For example, they are intellectuals, border intellectuals, and public intellectuals. These intellectuals have independent, autonomous, active, self-reliant characteristics and have a duty and accountability to pursue for public interests. It is also closely related to the 2017 regime and the Fourth Industrial Revolution. Along with this discussion, university education seems to need serious and rigorous discussion and consideration.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.587-613
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• 1999

Environmental problems such as global climate change, depletion, ocean and air pollution, and resource degradation-compounded by an expanding world population-respect no border and threaten the health, prosperity and jobs of all mankind. Our efforts to promote democracy, free trade, and stability in the world will fall short unless people have a livable environment. We have an enormous stake in the management of the world's resources. By increasing demand for timber, natural gas, coal and consumer's goods have destroyed the grounds for living. Greenhouse gas emissions anywhere in the world have threatened coastal communities, and then changed the Earth's climate system. The burning of coal, oil, and other fossil fuels is increasing substantially the concentration of heat-trapping gasses such as carbon dioxide, methane, and nitrous oxide in our air. The earth's temperature and sea levels are rising as a result. Since 1972 there has been a marked growth in the number and scope of environmental treaties. In particular, after the 1992 Rio Conference, international legal instruments became more concentrated on addressing environment within the context of sustainable development and incorporated a number of new concepts and innovative approaches. A preliminary analysis of recent conventions and in particular those associated with the Rio Conference indicates various ideas, concepts and principles which have come to the fore including sustainable development, equity, common concern of humankind, common but differentiated responsibilities and global partnership. However, international trade also has an environmental impact which must be minimized or countered. Positive measures are to be preferred to achieve environmental goals, but where trade provisions are necessary, they should be appropriately used within environmental conventions to facilitate the reduction and limitation of the negative impacts of trade and to enhance the complementarity of the multilateral trade regime with the imperatives of environmental protection, in the interests of environmental protection and sustainable development generally. The international community has to recognize and endorse this need to achieve complementarity between trade and environment issues.