• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.151-162
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• 2019

The paper examines the effects of Foreign Direct Investment (FDI) on the economic growth of Lao People's Democratic Republic (Lao PDR) between 1993 and 2015. The investigation is based on the influence of growth and economic absorptive capability determinants such as human capital, trade openness, and institutional quality. The methodological analysis uses a multivariate framework accounting capital stock, labor stock, FDI, human capital, trade openness, and institutional quality in regression of the Vector Autoregressive model. Augmented Dickey-Fuller unit root test, Johansen Cointegration test, and Granger Causality test were applied as parts of the econometric time-series analysis approach. The empirical results demonstrate the positive effects of FDI and trade openness, and the negative effects of human capital and institutional quality on the economic growth of the Lao PDR over the 1993 to 2015 period. The findings confirm that trade openness complemented by a sufficient level of infrastructure, education, quality institutions, and transparency significantly influence economic growth and attract more FDI. Research results lend credence to the need for the Lao PDR's government to focus on improving its economic absorptive capability and economic competitiveness regionally and globally by improving wealth and resource management strategies, as failure to take this course of action could lead to the Dutch Disease effects.

• The Journal of Asian Finance, Economics and Business
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• 제7권3호
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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.

• 한국경제지리학회지
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• 제3권1호
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• pp.35-51
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• 2000

국제교역흐름은 경제적 요인들 뿐 만 아니라 세계의 사회, 정치, 문화적 환경에 의하여 결정되어 왔다. 세계화와 더불어 국제교역환경도 빠르게 변화하고 있으며, 이러한 변화는 국제교역의 흐름에 상당한 변화를 주고 있다. 본 연구의 목적은 경제의 세계화가 국제교역의 흐름에 미치는 영향을 파악하고자 하는 것이다. 우선 국제교역에 나타나는 변화를 특히 경제적, 사회적, 정치적으로 국제적 연계가 강화되면서 나타나는 경제적 결합에 초점을 두어 산업 입지와 투자, 그리고 그 밖의 교역환경들과 연결하여 종합적으로 파악해 보았다. 특히 산업 입지에 변화를 주어 상품의 수요와 공급의 공간적 분포를 재편하는 역할과 함께 기업내 교역흐름을 확장시켜 결과적으로 국제교역패턴에 영향을 끼치고 있는 다국적 기업들에 의한 해외직접투자의 영향을 분석하였다. 기업내 교역은 해외직접투자의 흐름에 의해 결정되므로 본 연구에서는 해외직접투자의 기원지와 대상지의 지리적 특성을 분석하였다. 또한 해외직접투자와 기업내 교역의 공간적 분포에 나타나는 변화를 분석하였다.

• 무역학회지
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• 제46권3호
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• pp.135-149
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• 2021

This study analyzes the economic effect through the use of the RCEP direct transport rules, and suggests the necessacity of logistics efficiency and policy alternatives. The advantage of the hub network has been widely applied to the international logistics system, but there is a limit in the FTA logistics system in which goods must be directly transported between two contracting parties. Therefore, based on the new RCEP direct transport rules and the theoretical review on the possibility of an FTA logistics hub, FTA logistics efficiency improvement is estimated. This study quantitatively estimated the economic effect of direct transportation, unlike the previous studies, which were limited to the analysis of judicial precedents or surveys. GTAP model was used through five scenarios according to the impact of the RCEP tariff cut and the FTA logistics hub establishment in Singapore or Korea. As a result of the analysis, Korea's trade volume increased by 0.38% of exports and 1.63% of imports, and RCEP would increase exports by 0.27% and imports by 0.42%. In particular, the establishment of an FTA logistics hub (0.71%) was found to have a greater effect on the improvement of terms of trade than a tariff cut (0.12%), confirming the necessity of establishing an FTA logistics hub in RCEP. As a policy proposal, the institutional support of the customs authorities for the use of RCEP, the expansion of the free trade area where BWT traded cargo can be stored, and the establishment of a system for issuing back-to-back certificates of origin with approved exporters.

• 디지털융복합연구
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• 제15권6호
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• pp.1-8
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• 2017

본 연구는 한국이 투자대상국인 OECD국가를 대상으로 외국인직접투자에 영향을 주는 요인을 파악하기 위하여 현지국과 투자국의 문화 거리와 부패인식지수의 차이를 활용하여 외국인직접투자에 영향을 주는 요인을 규명하였다. 연구결과 문화적 차원과 부패인식지수에 따라 외국인직접투자에 차이가 나타나는 것을 살펴볼 수 있었다. 문화적 성향에 따라 외국인직접투자가 증대될 수도 감소될 수도 있으며, 부패인식지수가 높을수록 투자가 활발하게 이루어졌다. 외국인직접투자에 영향을 주는 요인에 있어서 현지국과 투자국사이의 권력거리가 작을수록, 개인주의 대 집단주의 거리가 클수록 투자건수와 규모가 증대되는 것으로 나타났으며, 투자국의 부패인식지수가 높을 때 외국인직접투자가 증대되는 것으로 나타났다. 본 연구결과를 통하여 문화와 부패인식정도가 무역거래에 영향을 줄 수 있음을 확인함으로써 무역거래시 교역당사자간의 문화적 성향과 문화적 거리를 고려하여야 하며, 공공부패 등을 비롯한 사회적 변수를 적절하게 관리함으로써 무역 및 경제성장에 영향을 줄 수 있다는 시사점을 제시하였다.

• 동아시아경상학회지
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• 제6권3호
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• pp.24-36
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• 2018

Purpose - From establishing China-Japan diplomatic relations in 1972, the relations between two states has improved a lot, from which makes the government and the people reap much benefit. Owing to this reason, this paper aims at exploiting the impact of exchange rate volatility of RMB on China's foreign direct investment to Japan. Research design and methodology - The quarterly time series data from 2003 to 2016 will be employed to conduct an empirical analysis under the vector error correction model. Meanwhile, a menu of estimated methods such the Johansen co-integration test and the Granger Causality test will be also used to explore the impact of exchange rate volatility of RMB on China's foreign direct investment to Japan. Results - The empirical analysis results exhibit that the real exchange rate has a positive effect on China's foreign direct investment to Japan in the long run. Conversely, the real exchange rate volatility of RMB, the trade openness and the real GDP have a negative effect on China's foreign direct investment to Japan in the long run. However, in the short run, the China's foreign direct investment to Japan, the real exchange rate, the trade openness and the real GDP in period have a negative effect on China's foreign direct investment to Japan in period. Oppositely, the real exchange rate volatility of RMB in period has a positive effect on China's foreign direct investment to Japan in period. Conclusions - From the empirical evidences in this paper provided, it can be concluded that an increase in the exchange rate volatility of RMB can result in a decrease in the China's foreign direct investment to Japan in the long run. However, an increase in the exchange rate volatility of RMB can lead to an increase in the China's foreign direct investment to Japan in the short run. Therefore, the China's government should have a best control of the real exchange rate volatility of RMB so as to improve China's foreign direct investment to Japan.

• Journal of Korea Trade
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• 제25권2호
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• pp.95-110
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• 2021

Purpose - This paper intends to conduct theoretical analysis and empirical test on the action mechanism of South Korea-China trade and South Korea's FDI to China on green total factor productivity, so as to provide a new perspective and ideas for the improvement of China's green total factor productivity and promote the high-quality development of China's economy Design/methodology - This paper uses the data of 30 provinces, autonomous regions and municipalities in China from 2004 to 2017 as the research sample, adopts the GML index method of SBM Directional Distance Function to measure GTFP, and analyzes the influence of South Korea-China trade and FDI from South Korea on China's GTFP. Findings - Trade is conducive to promoting technological progress, which has a significant promotion effect on China's green total factor productivity. While FDI has a significant inhibitory effect on China's green total factor productivity, which verifies the "pollution haven" hypothesis. In addition, such influence has certain regional overall heterogeneity. Trade has a more significant promoting effect on GTFP in eastern coastal areas, while FDI has a more significant inhibitory effect on GTFP in central and western inland areas. The interaction between trade and FDI is conducive to the improvement of green total factor productivity, indicating that the benign mechanism of trade and FDI has been formed. Urbanization, industrial structure, human resource level and investment in science and technology are all conducive to the improvement of GTFP. Originality/value - Through theoretical analysis and empirical test on the action mechanism of South Korea-China trade and South Korea's FDI on green total factor productivity, this paper provides a solid theoretical foundation for the further development of China-South Korea economic and trade cooperation in the future.

• The Journal of Asian Finance, Economics and Business
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• 제7권3호
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• pp.323-331
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• 2020

The study aims to assess the impact of foreign direct investment (FDI) and international trade (export and import) on Vietnam's economic growth for the 2000-2018 period. Secondary data is taken from the General Statistics Office of Vietnam. Ordinary least-square method is used in analyzing the impact of FDI, export and import on economic growth of Vietnam. Empirical test results show that FDI and international trade are related to Vietnam's economic growth. However, each economic variable has a different impact. FDI has a positive and statistically significant influence on economic growth of Vietnam. Export also has positive and statistically significant impact to the economic growth, while import has a negative but not statistically significant effect. The result is useful for the policy makers of Vietnam on foreign economic relations. In order to improve the effect of FDI and international trade on growth of the economy, the government of Vietnam should: (1) continue applying preferential policies to attract FDI; (2) select foreign investors aiming to quality, efficiency, high technology and environmental protection; (3) continue pursuing export-oriented policy; (4) enhance the added value of exported goods and control the type of imported goods; (5) further liberalize trade through signing and implementation of international trade commitments.

• East Asian Economic Review
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• 제25권2호
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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.

• 무역학회지
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• 제44권3호
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• pp.123-136
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• 2019

This study investigates the facilitating factors of FDI (foreign direct investment) inflows in 15 developing countries of three continents (Asia, Latin America, and Africa) using fixed-effect panel regression analysis with 30-year macro socio-economic data. The facilitating factors of FDI inflows in each continent differed. In Asia, labor compensation, GDP, consumer expenditure, human capital, and export facilitated FDI inflows in decreasing order, as did export, total factor productivity, GDP, and human capital in Latin America, and investment expenditure, human capital, government expenditure, and export in Africa. Most importantly, the character of cost saving efficiency-seeking investment was very strong in Asia. Also, third-party export-oriented investment and economic growth-oriented investment were shown in Latin America and Africa, respectively.