• KDI Journal of Economic Policy
• /
• v.30 no.2
• /
• pp.27-59
• /
• 2008

This paper empirically investigates the finance-growth linkage in Korea by utilizing firm-level data of manufacturing industries before and after the 1997 financial crisis. We find that, first, an increase in external finance is associated with a faster subsequent capital accumulation of firms. However, this capital accumulation channel became relatively attenuated after the crisis. Second, the total factor productivity growth effect of external finance has been considerably weak both before and after the crisis. Third, the information production and industry restructuring effects of external finance have also remained weak after the crisis. The limited role of external finance in post-crisis Korea partially reflects sluggish corporate investment and weakening dependence of good credit firms on external finance. The evidence suggests that, in order to effectively sustain economic growth, further reform efforts may be required to strengthen resource allocation and corporate restructuring roles of financial markets and institutions.

• Korean Business Review
• /
• v.21 no.2
• /
• pp.99-110
• /
• 2008

As we know, since Japan's robust economy - which lasted from the mid-1980s to early 1990s (the so-called Bubble Economy) - collapsed in 1991, the country has been enduring a prolonged stagnation period, and experiencing a long wave of economic, financial and political reform. People negatively refer to this period as "the Lost 10 years," suggesting the decade has been spent in vain, with Japan having done constructive for its future. On the contrary, many Korean used to say "the Lost 10 years," We review the background and situation of Japan's and Korea's. Then, Korea have to remember what's the reason in Japan.

• KDI Journal of Economic Policy
• /
• v.38 no.3
• /
• pp.1-15
• /
• 2016

Improving the quality of school education is one of the key policy concerns in Korea. This paper examines whether providing schools with adequate autonomy and incentives can meet the policy goals by looking at a recent policy reform in Korea. In 2009, the Korean government granted autonomy to certain private high schools on the condition that no financial subsidies would be provided to the schools. Because the autonomous private high schools cannot receive a subsidy, they have a strong incentive to meet parental demands because schools failing to meet these demands will lose students and will have to close. Applying the value-added model to longitudinal data at the student level, I find that students entering these autonomous schools show faster growth in their academic achievement than their peers in traditional non-autonomous schools. These results suggest that providing schools with autonomy and incentives can be a useful policy tool for improving school education.

• East Asian Economic Review
• /
• v.16 no.3
• /
• pp.273-290
• /
• 2012

While the issue of RMB (Renminbi, Chinese Yuan) revaluation became the focus of world attention in 2003, the reform of the RMB exchange rate regime in 2005 didn't fundamentally solve the RMB appreciation problem, and even in 2008 the global financial crisis made RMB appreciation face new challenges and risks. It appears that the rise in RMB value is caused by supply exceeding demand in China's foreign exchange market; however, intrinsically it is due to the asymmetry in RMB exchange rate formation mechanism. The export tax rebates policy implemented by Chinese government is one of the leading causes of the asymmetry. This study constructs a transmission model between export tax rebates and foreign exchange rates, and applies the Granger Test to validate the causality between kernel variables based on correlative data from 1994-2011, and uses the error correction method to analyze the quantified relations of kernel variables, and finally gets the contribution rate of export tax rebates to RMB appreciation.

• Journal of Korean Society for Quality Management
• /
• v.34 no.3
• /
• pp.51-61
• /
• 2006

This paper is dealing with a 6 sigma application in chemical industries. The company is enterprise which produce PR that is semiconductor material. CTQ is consisted of thickness (Big Y$_1$) and EOP (Big Y$_2$). After 6 sigma improvement activity that thickness (Big Y$_1$) improved from 0.98 sigma to 2.80 sigma and EOP (Big Y$_2$, energy optimizer) improved from 1.53 sigma to 3.98 sigma. The effectiveness of financial scope reduced 58,200,000 won of COPQ. But there are some problems to enforce 6 sigma in small enterprises. First, it is a lack of complete charge manpower enforcing S sigma activity. Second, it is a lack of professional knowledge of project leaders. Third, the passion of sponsorship (champion) is a lacking. Nevertheless useful tool was certified so that 6 sigma achieves quality reform in small enterprises.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.8 no.2
• /
• pp.213-227
• /
• 2012

Recently MVNO has been adopted to reform the monopoly structure of mobile telecommunication industry in Korea. MVNO is expected to not only enable mobile telecommunication industry more free, but also provide various welfare service with customers, in particular mobile payment system service. Based on TAM, this paper is to investigate the affecting factors of intention to use of mobile payment system service in MVNO environment. The results indicate that all system quality factors are significantly related to both perceived usefulness and perceived easy of use, but only stability of service quality factor is significantly related to the perceived usefulness. Perceived easy of use was found to be siginificantly related to the intention to use of mobile payment system in MVNO environment, but percevied usefulness was not.

• Environmental and Resource Economics Review
• /
• v.16 no.3
• /
• pp.607-627
• /
• 2007

By reviewing the current application of Environmental Fiscal Instruments in China, existing policy gaps and weakness, and the feasibility of using EFIs in China, this paper pointed out that the Chinese government faces an historic opportunity for promoting the development of a comprehensive environmental fiscal system. It is proposed that as far as possible the real economic and social costs of pollution and environmental degradation should be reflected in the prices charged for the use of environmental and natural resources. Chinese government should systematize existing environmental fiscal funds and policies, gradually setting up a framework for integrating environmental fiscal instruments into the public financial system.

• Health Policy and Management
• /
• v.13 no.3
• /
• pp.52-70
• /
• 2003

The rate of conversion to Medical-juridical-persons' ownership of medical institutions has increased rapidly since its start in 1970s in Korea. The most sensitive issue to introduce for-profit medical institutions, ignited particularly by the WTO/DDA negotiations, has sparked considerable debate, stemming largely from conflicting views on the theoretical effects of ownership status on organizational behavior. This study surveyed health-related experts' opinions on allowing for for-profit-firms-owned medical institutions. Some fear that the obligation to maximize the share-holders' return on their investment will cause the medical institutions to eliminate necessary but less lucrative services. They may easily fall under more pressure to generate income, and respond more aggressively than not-for-profit medical institutions to financial pressures. Advocates of for-profit ownership of medical institutions argue that greater responsiveness to the demands of the marketplace will lead to larger investment, higher quality and lower costs to consumers. Referring to both foreign countries' experience and domestic experts' opinions, this study suggests for reform of the current Korean Medical-Juridical-Person(MJP) System. Introduction of so-called “Capital-investment” MJPs is recommended where the properties left in case of their dissolution can be distributed to original investors according to the procedures stipulated in their statutes. However, their annual profits are not allowed to be allocated to investors, but should be reinvested for their medical institutions, as is the case in current MJPs. Their legal aspects are also reviewed in this study.

• Health Policy and Management
• /
• v.24 no.4
• /
• pp.396-412
• /
• 2014

Background: As a reform plan of health care system, Accountable Care Organization (ACO) has became an object of attention in the United States after Patient Protection and Affordable Care Act was enacted. ACO is a group of various health care providers and provide coordinated care to its assigned beneficiaries. If ACOs improve the quality level and reduce the cost of care, they can get financial incentives. Under the discussion for a quite long time and demonstration projects, ACO has been established. We aimed to analysis and discuss the history, policy mechanism, contents, status and outcomes of ACO. Also, we intended to suggest political implication Korean health care system with regard to ACO. Methods: We searched the articles related ACO in PubMed and selected several available papers about ACO. Total 56 studies were reviewed and categorized three parts; demonstration projects for formation of ACO, policy mechanism and agenda, empirical results of ACO performance. Results: As a result, establishment of ACO was successful partly in the US. It seems to be due to various project and pilot test for verification in the long time. The empirical effect of ACO was also identified in a few study but it needs more evidences to judge its positive effect. Conclusion: In Korea, there are arguments for the application of ACO. However it is difficult to implement a ACO by different political conditions between Korean and US. Nevertheless ACO proposed us the necessity of paradigm shift in our health policy and could be significant to national policy orientation in the future.

• Health Policy and Management
• /
• v.8 no.1
• /
• pp.232-265
• /
• 1998

Taiwan has experienced rapid economic growth during the past two decades. As a result, the demand for health care in Taiwan has increased rapidly. To meet the rising demand, Taiwan implemented a National Health Insurance (NHI) program on March 1, 1995. This program now covers more than 96 percent of Taiwan's citizens. Implementation of the NHI in 1995 represents fulfillment of a primary social and health policy goals of Taiwan. The goals of the NHI program is to eliminate financial barriers of health care for the citizens, to improve the quality of care. To achieve these goals, the NHI was designed on the following principles: 1. All Taiwan citizens are compul내교 joined the NHI program by law; 2. The NHI program provides comprehensive services; 3. The NHI is run by one single govt' subsidy; 5. The NHI adopt fee-for-services scheme to pay medical expenses and copayment to avoid abouse of medical services. However, the scheme did not bring in the efficient use of health care C. National Health Council, 1986 NARC, Aging in Japan, International Publication Series 1991;2 Kahana EF. Kiyak HA. Attitude and behavior of staff in facilities for the aged, 1984 Naoki I, John CC. Health polic report japan's medical care system, New England Joumal of Medicine 1995; 333(19) National Economic Research Associates, The Health CAre System in Japan, NERA, 1993. National Federation of health Insurance Societies (KEMPOREM), Health Insurance and Health Insurance Societies in Japan, 1995. Owe Ahlund, Aging and housing in sweden, Paper presented at the International Symposium, Long term Care Facility, 1993. Statisitics Jahrbuch, Statistisches Bundesamt, 1992. Stein S. Linn, MIW. and Stein EM. Patient's anticipation of stress in nursing home care, 1985. U. S. Senate Special Committee on Aging, A Report of the special Committee on Aging, Washing D. C, 1992. U.S. Bureau of the Census, 1994.