• 한국지구물리탐사학회:학술대회논문집
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• 한국지구물리탐사학회 2003년도 Proceedings of the international symposium on the fusion technology
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• pp.669-675
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• 2003

This paper examines structural breaks and asymmetries of prices of four domestic petroleum products, i.e., gasoline, kerosene, diesel, and bunker-C, following the changes in the pricing policies pertaining to petroleum products in Korea from the government-controlled pricing system to the market pricing system. We use the monthly wholesale market price data for the sample period between July 1988 and December 2001. Using the four methods: the Chow test, the CUSUM/CUSUMQ tests, the Bayesian approach and the Dufour test, the structural behaviors of the petroleum product prices are examined. We found that structural change occurred in all petroleum products, with the exception of Kerosene, at the point of pricing policy change from government-controlled to the spot-price related pricing system. We, also conducted asymmetric analysis using the Borenstein, Cameron, and Gilbert (1997)'s model and found evidences of price asymmetry for all four product types, but in different pattern for each product.

• KDI Journal of Economic Policy
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• 제13권1호
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• pp.3-33
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• 1991

80년대에 들어서 본격화된 개방정책(開放政策)의 결과 대부분의 소비재(消費財)가 수입가능품목(輸入可能品目)이 되었고 이에 따라 소비재(消費財)의 수입(輸入)은 급격한 증가추세를 보이고 있으며 이 추세는 당분간 지속될 것으로 전망된다. 본고(本稿)에서는 우리나라의 수입소비재(輸入消費財) 유통구조(流通構造)의 현황(現況)을 분석하고 가격상승 및 후생감소를 야기시키는 문제점을 파악하며 이의 개선방안(改善方案)을 모색해 보았다. 본고(本稿)에서는 기존의 연구와는 달리 수입소비재(輸入消費財) 유통구조(流通構造)를 국제시장(國際市場)-수입단계(輸入段階)-국내(國內) 도(都) 소매단계(小賣段階)의 수직적 구조로 파악하고 이 수직적 구조를 구성하는 각 수평단계의 산업조직 및 수평단계를 연결하는 수직적 관계를 중심으로 하여 가격결정과정과 문제점을 분석하였다. 수입소비재(輸入消費財) 유통구조(流通構造)의 수평단계는 상품(商品) 및 지역(地域)에 의해 차별화된 독점적 경쟁 시장으로 볼 수 있으며, 수평단계간에는 대리점계약(代理店契約)과 재판매가격유지(再販賣價格維持)의 수직적(垂直的) 통제(統制)(vertical restraints)가 흔히 사용되고 있다. 수입소비재(輸入消費財) 유통구조(流通構造)의 주요 문제점으로는 독과점적(獨寡占的) 수입(輸入)에 따른 수입상의 독과점력, 국내 메이커에 의한 동종상품 수입에 의한 경쟁제한, 유통업자간의 담합 및 이의 유지를 위한 재판매가격유지(再販賣價格維持)의 성행, 불확실성(不確實性)과 정보불균형(情報不均衡)을 지적할 수 있다. 이러한 문제점을 시정하여 수입소비재(輸入消費財) 및 경쟁국산상품(競爭國産商品)의 가격하락(價格下落)과 국산상품(國産商品)의 품질개선(品質改善)을 유도하기 위하여는 독과점적 수입계약과 국내메이커에 의한 동종상품의 수입에 대한 공정거래규제(公正去來規制)를 도입하여야 하며, 수입가격표시제의 확대실시 및 탄력적 운영을 통한 합리적(合理的) 정보제공(情報提供)이 필요하다고 판단된다. 수입소비재(輸入消費財)의 유통구조는 또한 국내(國內) 도(都) 소매업(小賣業)의 일반적인 문제점으로 지적되고 있는 규모의 영세성, 무자료거래의 성행, 근대적 대형유통업체(大型流通業體)의 부족의 문제점을 가지고 있다. 이러한 문제점은 기본적으로 상가(商街)와 물류시설(物流施設)의 공급부족과 현행 부가가치세제(附加價値稅制)에 그 원인이 있다. 따라서 수입소비재 유통구조의 생산성을 향상시키고 경쟁을 촉진하기 위해서는 상업용 및 물류시설용 부동산의 공급확대유도(供給擴大誘導)와 부가가치세제(附加價値稅制)의 합리적 운영이 필요하다고 사료된다.

• KDI Journal of Economic Policy
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• 제14권2호
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• pp.55-75
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• 1992

본(本) 연구(硏究)는 국내 메이커에 의한 동종상품수입(同種商品輸入)의 원인을 구명(究明)하고 그 경제적(經濟的) 효과(效果)를 분석하며 후생증진(厚生增進)을 유도할 수 있는 정책대안(政策代案)을 검토하고 있다. 국내(國內) 메이커에 의한 동종상품수입(同種商品輸入)은 상품간의 경쟁을 제한하며, 그 결과 수입상품(輸入商品)뿐 아니라 이와 경쟁하는 국산상품(國産商品)의 가격(價格)도 높이는 부정적인 효과를 가지고 있다. 반면(反面) 국내(國內) 메이커가 일반수입상(一般輸入商)에 비해 효율적(效率的)인 유통구조(流通構造)를 가지고 있는 경우 메이커의 의한 수입(輸入)은 후생(厚生)을 증진시키는 측면이 있으며, 메이커에 의한 수입의 순효과(純效果)는 공동판매(共同販賣)에 따른 경쟁제한효과(競爭制限效果)와 효율적인 유통구조(流通構造)에 의한 후생증진효과(厚生贈進效果)의 상대적인 크기에 달려 있다. 메이커에 의한 동종상품수입(同種商品輸入)이 이루어지는 가장 큰 이유는 메이커에 의한 유통계열화(流通系列化)이다. 메이커의 유통계열화(流通系列化)의 결과 일반수입상(一般輸入商)은 수입(輸入) 판매(販賣)에 앞서 자신의 유통망(流通網)을 조직하여야 하며, 우리나라와 같이 자본시장(資本市場)의 불완전(不完全)이 심각한 나라에서는 이는 중요한 진입장벽(進入障壁)이 될 수 있다. 본고(本稿)에서는 메이커에 의한 수입의 규제방안으로서 시장지배적사업자(市場支配的事業者)에 대한 가격규제(價格規制), 시장점유율(市場占有率)이 높은 기업간의 거래에 대한 규제(規制), 그리고 유통계열화(流通系列化)에 대한 규제(規制) 등 세가지 정책대안(政策代案)을 검토하였다.

• 수산경영론집
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• 제40권2호
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• pp.105-126
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• 2009

This study applies the cointegration theory to analyse the causality of the prices between imported fisheries and domestic fisheries in distribution channel. We've focused on the prices of import, wholesale and retail about the frozen Alaska pollack, hairtail and croaker which take up high portion and are popular among most of the consumers. In process of analysis, the unit root test was adopted to find the stability of time series data prior to the cointegration test. If the time series data was found as stable one in unit root test, we should analyse the VAR model. If unstable, the cointegratioin test was adopeted to find the long-run equilibrium relationship between the data. When the long-run equilibrium relationship was found among the price of the import, wholesale and retail price, the VECM model was adoped. If not, the differenced VAR model was adopted. The main findings of this study could be summarized as follows ; First, according to the result of the analysis on VAR model, time series data of frozen Alaska pollack was found as stable and has causality relationship and close effect was existing among the import, wholesale and retail price. Second, the data of frozen hairtail was found as an unstable one in unit root test and the result of cointegration test showed the long-run equilibrium relationship at lag 1. From the results of VECM model, we could find that the coefficient of error correction is effective, and the sign is negative(-). It means that the existence of adjustment tendency to long-run equilibrium after a short-run deviation. But the short-run causality of the prices were not found except the price of wholesale. Third, according to the results of differenced VAR model, data from frozen croaker did not have the stability and long-run equilibrium. Moreover, it was found that the import price has a weak causality on the retail price. Because of having difficulties in collecting data, the result of this paper could not explain the relationship among the prices of import, wholesale and retail perfectly. However, it more or less contributed to a long-lasted debate on the direction of causality of price-setting in academic research and provided a useful guide for the policy makers in charge of the price-setting of fisheries products as well.

• KDI Journal of Economic Policy
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• 제12권1호
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• pp.93-110
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• 1990

우리나라의 수산정책(水産政策)과 원양어업관련(遠洋漁業關聯) 정부규제(政府規制)는 과거부터 연안어업보호(沿岸漁業保護)와 기존사업자간의 이해조정을 위해 제한적이고 간섭적인 요소가 많이 존재하고 있다. 이는 사업자들의 기술개발(技術開發) 및 비용절감(費用節減) 의지(意志)를 약화시켜 산업의 장기적 체질강화(體質强化)를 위해서도 바람직하지 않을 뿐 아니라, 사업자간의 형평문제(衡平問題)도 야기하고 있는 실정이다. 또한 오랜 동안 누적되어온 어가안정정책(魚價安定政策)은 국내어가(國內魚價)의 상승을 초래하여 국민경제적 부담이 되고 있을 뿐 아니라, 어업의 산업구조조정(産業構造調整)을 지연시키고 연안(沿岸) 어자원(魚資源)의 고갈을 촉진시키는 한 요인이 되고 있다. 이 연구에서는 현행 원양어업(遠洋漁業) 관련정책(關聯政策) 정부규제(政府規制)의 문제점을 검토하고 원양어업의 장기적 발전과 자율화의 추세에 부응하기 위한 정부규제(政府規制)의 개선방안(改善方案)을 제시하고자 하였다. 주요개선방안으로는 허가과정(許可過程)의 객관화(客觀化)와 투명화(透明化)를 보장하기 위한 의무허가제(義務許可制)의 도입과 이를 통한 연근해어업(沿近海漁業) 구조조정기금(構造調整基金)의 조성, 허가조건 및 업종구분의 단순화와 어선확보(漁船確保)에 대한 규제의 완화를 통한 경영합리화(經營合理化) 여건의 조성, 신어장개척(新漁場開拓)에 대한 유인제공 등을 제시하고 있다.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.163-172
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• 2019

The paper aims to investigate the impact of the gap between domestic and international gold price on money demand in Vietnam, an emerging economy in the Asian region. We use a quarterly database collected from the first quarter of 2004 to the fourth quarter of 2016. The time-series database includes 52 observations. The money demand is represented by M2; Domestic income is the Gross domestic product at the constant prices of 1994; Inflation rate is calculated by the Customer Price Index from the General Statistics Office of Vietnam. The result confirms the existence of a long-term cointegration relationship between the money demand and the gap between domestic and international gold price as well as some variables including domestic income, inflation, and real exchange rate. The regression results also show that the gap between domestic and international gold price has a positive impact on money demand in the Vietnamese economy. Besides, the domestic income and international gold price have positive impacts on money demand while the inflation and real exchange rate are negatively related in the long run. This proves that the gap between the domestic and international gold price really has a positive impact on money demand in Vietnam during the study period.

• 기술사
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• 제41권3호
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• pp.45-49
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• 2008

Considering domestic situation such as economical crisis, $CO_2$ exhaust amount limit based on the Climatic Change Convention, sky-rocketed oil prices. 97% of energy import from abroad, and import sum reaching up to 20% of entire import, we need to invest new recycle energy and future energy development at a full blast.

• 통상정보연구
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• 제7권4호
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• pp.325-349
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• 2005

One aspect of the globalization of the financial market after the 1980s is represented by the concurrent monetarization of the national stock markets. As the IR activity is regarded as a new financial productivity measure, the IR activity in the stock market is being emphasized domestically and internationally. This study analyzes domestic IR activities and compares them with foreign IR activities. Specifically the "road show", a typical IR activity, which is known to resolve the information asymmetry between the firm and the investors is analyzed to see the extent of the their value increase impact on the firm. The study employs domestic and international firms that publicly announced "road shows" after April 2004. Event studies are done to see the existence of abnormal return after the public announcement of road shows. Domestic firms were found to have positive IR impacts on the stock prices, but international firms were found to have negative IR impacts on the stock prices. Also it was found that international public announcement of the road show have stronger positive impact on the stock price than domestic public announcement. The investigation of the statistically significant difference of CAR before and after the fair public announcement enforcement rule showed that the positive CAR impact is strengthened after the adoption of the rule. The conclusion is that increase of the firm value after the road show implies that the information asymmetry is reduced by the active IR actions on the firm side. The policy implication is that we have to reassure the understanding of the role of the IR activities. Specifically Korean firms may have to encourage IR activities to share the information of the firms with the investors, which may result in the trustworthy relationship between the firms and investors.

• Journal of the Korean Wood Science and Technology
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• 제21권4호
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• pp.29-34
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• 1993

This study was carried out to estimate price and domestic consumption functions of chestnut using time series data for the period 1970~1989. Using a regression analysis method, price and domestic consumption functions of chestnut in Korea are estimated. The result of this study reveals that the optimum function of price for chestnut is PR= -249.33965 + 163532.56817 EX/POP-4.10177 PD+4.02877 DC+6056.98339 GDP/POP($R^2$=0.88207), and that optimum function of domestic consumption for chestnut is ln DC=14.97145+1.48279 ln PD/POP - 0.32853 ln GDP - 0.02337 ln PR - 0.12117 ln EX($R^2$=0.98689). On the ground that instability of prices make the income of producer and family finances of consumer unstable, the object of price-policy should be to stabilize price of chestnut in Korea.

• 한국수소및신에너지학회논문집
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• 제21권1호
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• pp.64-71
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• 2010

This paper deals with an economic evaluation of domestic immersing type photoelectrochemical hydrogen production. We also make some sensitivity analysis of hydrogen production prices by changing the values of input factors such as the initial capital cost, the solar to hydrogen conversion efficiency, and the system duration time. The hydrogen production price of the immersing type photoelectrochemical system was estimated as 8,264,324 won/$kgH_2$. It is expected that the production cost by photoelectrochemical hydrogen production can be reduced to 26,961 won/$kgH_2$ if the solar to hydrogen conversion efficiency is increased to 14%, the system duration time is increased to 20,000 hours, and the initial capital cost is decreased to 10% of the current level. The photoelectrochemical hydrogen production is evaluated as uneconomical at this time, and we need to enhance the solar to hydrogen conversion efficiency and the system duration time as well as to reduce prices of the system facilities.