• Journal of the Korea Safety Management & Science
• /
• v.22 no.1
• /
• pp.61-68
• /
• 2020

The purpose of this study was to measure the job aspiration and examine the relationship between that and job satisfaction for wage-earners using the fourth Korean Working Conditions Survey(KWCS). We use the stochastic frontier model for measuring the job aspiration and testing its effect on the job satisfaction. Fstochastic frontier model is introduced to explain that each company potentially produces less than it might due to a degree of job aspiration, measured by decomposing the residuals. In this model framework, it can be regard that the upper bound of the job satisfaction is the ideal frontier, and the bias between the ideal condition and the reality is the job aspiration. If this concept is applicable to the job aspiration, we can measure this bias and investigate a relationship with the job satisfaction. We find that there exists the job aspiration, and it is significantly negatively correlated with the job satisfaction. This result supports that if job aspiration increases, job satisfaction level decreases.

• Journal of Korean Society of Rural Planning
• /
• v.26 no.3
• /
• pp.25-38
• /
• 2020

The purpose of this study is constructing a regional-level crop acreage choice model incorporating the impacts of producer risk aversion, and applying the constructed model to the Korean policy that promotes rice paddy conversion into non-rice crop fields. The study adopts the approach of Paris (2018) which estimates the absolute risk aversion coefficient inside of a positive mathematical programming model. A panel data set of 143 cities/counties is used for the empirical study where agricultural land in each region is allocated to 8 crops. Our estimated absolute risk aversion coefficients are smaller than those of Paris (2018), but are a little bit larger than those of the existing Korea studies based on survey or econometric methods. We found that there are close relationships among the estimated risk aversion, regional characteristics, and farming patterns. We also found that incorporating the estimated risk attitudes results in substantial differences in the impacts of the rice paddy conversion policy.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.7
• /
• pp.403-411
• /
• 2021

This study discusses the influence of economic factors on the clothing exports from China and 15 South and Southeast Asian countries to the United States. A basic gravity trade model with three predictors, including the GDP value produced by exporting and importing countries and their geographical distance was established to explain the bilateral trade patterns. The conventional approach of multiple regression and the novel approach of Artificial Neural Networks (ANNs) were developed based on the value of clothing exports from 2012 to 2018 and applied to the trade pattern prediction of 2019. The results showed that ANNs can achieve a more accurate prediction in bilateral trade patterns than the commonly-used econometric analysis of the basic gravity trade model. Future studies can examine the predictive power of ANNs on an extended gravity model of trade that includes explanatory variables in social and environmental areas, such as policy, initiative, agreement, and infrastructure for trade facilitation, which are crucial for policymaking and managerial consideration. More research should be conducted for the examination of the balance between developing countries' economic growth and their social and environmental sustainability and for the application of more advanced machine-learning algorithms of global trade flow examination.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.1
• /
• pp.207-215
• /
• 2021

The number of tourists visiting Nepal has shown rapid growth in recent years, and Nepal is expecting more tourist arrivals in the future. This paper, thus, attempts to analyze the tourist arrivals in Nepal and predict the number of visitors until 2025. This paper has examined the international tourist arrival trend in Nepal using the Gompertz and Logistic growth model. The international tourist arrival data from 1991 to 2018 is used to investigate international tourist arrival trends. The result of the analysis found that the Gompertz model performs a better fit than the Logistic model. The study further forecast the expected tourist arrival below one million (844,319) by 2025. Nevertheless, the government of Nepal has the goal of two million tourists in a year. The present study also discusses system dynamics scenarios for the two million potential visitors within a year. Scenario analysis shows that proper advertisement and positive word-of-mouth will be key factors in achieving a higher number of tourists. The current study could fill the gap of theoretical and empirical forecasting of tourist arrivals in the Nepalese tourism industry. Also, the study findings would be beneficial for government officers, planners and investors, and policy-makers in the Nepalese tourism industry.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.4
• /
• pp.173-183
• /
• 2022

The objective of this research is to examine the influence of the COVID-19 pandemic on stock markets in a few developing and developed countries. This study uses daily data from January 2020 to May 2021 and obtained from World Health Organization and Thomson Reuters. The secondary data was evaluated through panel econometric methodology that includes different unit root tests, and to analyze the long-run relationship between variables, panel cointegration techniques were applied. The long-run causality among variables was examined through Panel Vector Error Correction Model. The overall findings of this study suggest a long-run association exists between several cases and death with the stock returns of the GCC and other stock markets. Furthermore, the VECM model also identified a long-run causality running from COVID cases and death towards the stock rerun of both sets of stock markets. However, a subsequent Wald test yielded mixed results, indicating no short-run causality between cases and deaths and stock returns in both groups; however, in the case of GCC, several COVID-19 cases are having a causal impact on stock markets, which is notable in light of the fact that the death rate in GCC is significantly lower than in many developed and developing countries.

• Asian Journal of Innovation and Policy
• /
• v.12 no.1
• /
• pp.75-100
• /
• 2023

Over the past few decades, globalization has been shifting economic power upward to transnational actors on the one hand, and downward to subnational or regional spaces on the other. This phenomenon has resulted in the centrality of territorially delimited subnational regions acting as critical loci of economic governance within a complex and globally distributed value chain of trade and service flows. Within this broader context of industrial restructuring are economic regions that span national borders in their collective assets. The paper focuses on investigating the economic competitiveness and productivity of cross-border (or binational) economic regions. Using the conceptual framework of economic clusters, an econometric model that measures proxies of geographic proximity of firms in the life sciences cluster, and a new binational economic model, the paper examines the key characteristics, potentials and constraints of economic competitiveness and productivity in a cross-border region comprising counties in Western New York and regional municipalities in Southern Ontario. The findings demonstrate the direct and indirect benefits of closer cross-border economic cooperation. The paper then concludes with some policy observations about leveraging cross-border economic clusters for strategic industrial cooperation.

• Journal of Korea Technology Innovation Society
• /
• v.10 no.1
• /
• pp.1-21
• /
• 2007

Among numerous policy influencers' and researchers' advices and policy suggestions, there is little opposition to the proposition that technology is essential to the economic development. The role of technology has never been more emphasized than today in Korea as in any other countries. The effects of the government's innovation policy on corporate R&D activities and more broadly the economic welfare of a whole nation are widely recognized with intuitional and empirical evidence. That is, various R&D incentives reduce the marginal cost of a firm's R&D efforts, inducing as much increase of its R&D investment to result in a better chance to acquire target technology. This paper examines the impact of R&D incentives on the technological outcomes by analyzing individual firms' investment behaviors subject to the government's R&D incentive policies. An econometric model of technological outcomes is estimated on a project level with cross-sectional data. "Probit model" is employed for estimations. Special attention was given to the effectiveness of R&D programs by estimating policy impact by types of investment. The data were collected from 928 different R&D projects completed between 1987 and 1993. With the single equation approach, we were able to find that the structure of investment is a far more significant factor in technological outcomes than the total amount of investment. The analysis also shows that the two types of firms' matching investment, in-kind and cash, do not bear a complementary, but a substitutive relations to each other. It also reconfirms the proposition that R&D incentives increase firm's financial investment. Despite many supportive studies emphasizing the cooperation between innovation performers, it is also found that the larger the number of institutions involved in a project, the less likely it leads to a technological success, And meeting the proposed deadlines without postponing is estimated to be a good barometer to predict the outcome of an R&D project. Also the probabilities of success for major variables are represented for policy implications, after calculating marginal effects.

• East Asian Economic Review
• /
• v.20 no.1
• /
• pp.37-65
• /
• 2016

This research intends to investigate the progress made in East Asian bond market integration thus far. Price-based measures (AAD indicator and beta-convergence measure), quantity-based measures and econometric techniques (co-integration test, error correction model based Granger causality test) are employed in the analysis. Even though East Asian government bond markets have become more integrated since 2001, the differentials among the markets still remain significantly high. The bond market integration process seems slow. The convergence of bond markets sped up in 2003 and after the 2008 world financial crisis, implying the important role of government policies in integrating the regional bond markets. East Asian bond market integration may need more government-directed measures.

• Environmental and Resource Economics Review
• /
• v.9 no.2
• /
• pp.285-309
• /
• 2000

One of the main issues in natural resource economics is estimating the amount of stock and the biological growth functions of renewable natural resources. Since the stock level is not directly observed the usual econometric approaches cannot be employed for this purpose. The maximum entropy approach has been suggested as a useful alternative to estimate the dynamic model of natural resource use. This study estimates the stock and the growth function of Korean anchovy using the data for yield and yield efforts. The results show that the current level of anchovy yield exceeds its maximum sustainable yield, which implies that the stock will decrease substantially over time.

• Journal of the Korean Society of Food Culture
• /
• v.19 no.6
• /
• pp.630-639
• /
• 2004

Korean households' expenditures on foodservices are on the steady increase. This paper aims to examine the foodservice expenditures of salary and wage earners's households by income decile group. This is analysed through comparing foodservice expenditures with private education expenditures because households' expenditures are likely to be weighted in favor of eating-out rather than private education. We also model the consumption function in terms of income and price, examining the responsiveness of private education demand and eating-out demand to changes in income and price using econometric methods such as regression, rolling regression and impulse response. This paper show that foodservice demand increases more than the private education does in the long-run. The result indicates that households are likely to evaluate the desire for foodservice more important than private education contrary to our expectations in the long-run. The impulse response analysis, however, suggests that households tend to increase private education expenditures rather than eating-out expenditures in the short-run.