• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.109-121
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• 2022

The study aims to examine the interaction of formal and informal institutions for strengthening economic development, particularly entrepreneurship growth. The research will also assess the impact of control variables on political index within the formal and informal markets. The research is quantitative, which analyses panel data of 6 years in 22 countries comprising middle and high-income countries with diversified and unique political, economic, and social systems. The findings suggested that reducing the entry regulation and promoting the social capital within the formal and informal institutions would grow formal and informal entrepreneurship and be a greater source for new venture creation. Moreover, the political index, a control variable, was found significant in the relationship of institutional mix with formal and informal entrepreneurship. Entry regulations in formal and informal institutions are a complex phenomenon in the entrepreneurship literature, moderated by the political development index as tested by the current study. The time horizon for this paper is much longer since it analyzes 6 years (2014-2019) of data on 22 developing and developed countries to see the entrepreneurial growth across multiple regions on different income levels, geographic conditions, and contrasting political and social systems.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.33-44
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• 2022

Women entrepreneurs play a vital role in employment creation, economic development, and growth. Women entrepreneurship is deep-rooted in the social and cultural norms and values of society. Women's entrepreneurship contribution is still invisible and needs to be properly investigated. The current research study explores "how institutions affect women's entrepreneurial performance in Pakistan" by using institutional and social cognitive theories. Focusing on the Formal and informal institutions, this research examines how institutions are affecting women's entrepreneurial performance by taking the mediating role of women's entrepreneurial self-efficacy and ethical decision making. A 7-point Likert scale research questionnaire is used to collect primary data. Data on active entrepreneurs are collected from the Peshawar, Mardan, and Abbottabad divisions of KPK's Women Chambers of Commerce. The data is empirically tested through the path analysis technique of structural equation modeling (SEM) through SMART PLS 3. The results indicated that women's entrepreneurial self-efficacy and ethical decision-making strongly mediate both institutions and significantly affect women's entrepreneurial performance. The study suggests that government and concerned departments should pay due attention to determinants like informal institutions and social constraints to boost women's entrepreneurial performance.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.97-106
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• 2021

The condition of financial services in Indonesia is unique, based on various characteristics, behaviors, and preferences. Therefore, the study of finance and banking is interesting to study as a recommendation for government policies. This paper aims to analyze the barriers to accessing formal financial services in Indonesia and why informal financial services are preferred. This paper presents a case study of financial inclusion in selected provinces in Indonesia using the SOFIA dataset from the Ministry of National Development Planning. Overall, this data consists of 20,000 individuals from 4 provinces and 93 regions representing the population in eastern Indonesia. The analysis was carried out by processing individual-level cross-sectional data surveyed in 2017 using the probit binary logistic method. The results identify the individual barriers in accessing formal financial services, including account ownership, saving, and credit activities in the formal financial institutions, and amplify the image by analyzing what determinants affect people to choose informal institutions. We found that some individual characteristics such as age, gender, education, income, employment status, residence, and access to technology significantly affect the barrier to formal financial services in East Indonesia.

• Asia-Pacific Journal of Business
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• v.9 no.1
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• pp.107-121
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• 2018

The purpose of this paper is to explore the determining factors of foreign direct investment(FDI) of Korea by using institutioanl theory. In addition, this study divides institutional facts into the formal and the informal institutions. The empirical test implements multiful regression analysis focuing on korean electronics and automotive industry. The dependent variables are FDI outflow and the independent ones are corruption, econimic freedom, political risk, human development, and culturan distance. According to the empirical results, corruptin and human development have positive effects on Korean FDI outflow. On the other hand, political risks and economic freedom have negative effects on Korean FDI outflow. This results indicate the importance of forman and informal institutional facotrs as determinants of Korean FDI outflow.

• Asian Journal of Innovation and Policy
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• v.6 no.1
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• pp.1-22
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• 2017

The essence of inclusive innovation is to serve poor, marginalized and underprivileged sections of society to improve their livelihoods and enable them to climb up the socio-economic ladder. In this article, we explore the contemporary Indian landscape. There is a diversity of institutions and institutional approaches, multiple methodologies and goals in promoting inclusive innovations in this landscape. There are grassroots innovation institutions. All these institutions and groups have demonstrated how to improve the living conditions of poor people and enhance their income. They have developed different methodologies of inclusive innovation to intervene, build capacities and capabilities of poor people towards bridging informal and formal sectors of economy. Indian landscape can now boast of some successful models and a "social laboratory" for inclusive innovation. The challenge, however, remains to replicate and multiply these models to impact other sectors of Indian informal economy.

• Journal of Fisheries and Marine Sciences Education
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• v.16 no.2
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• pp.199-209
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• 2004

The main purpose of this study is to explore a social capital paradigm which can be applied to many forms of social capital and intangible goods. The social capital paradigm introduces a new form of capital. This new form of capital produces a flow of socio-emotional goods that have value. Moreover, these socio-emotional goods can attach themselves to the objects used to convey them and change their value and meaning. This change in value and meaning is defined as attachment values. Exchanges of socio-emotional goods occur in networks where social capital resides. Formal and informal institutions provide order and meaning to exchanges of tangible and intangible goods. Social capital is a powerful resource that makes our choices interdependent. The social capital paradigm does not alter or contradict the basic economic theories of exchange. While the social capital paradigm accepts that selfish preferences motive many actions, it adds that sympathy and the desire to consume socio-emotional goods are powerful motivators. In case of marine affairs, ocean and fishing villages and their culture have been not only a fundamental basis of fisheries development but they also have made a great deal of contribution to forming social capital. In spite of this fact, the main reason that the problems of fisheries fishing villages fishermen in our society are kept at a distance is because they have been loosing their capability of forming social capital and producing socio-emotional goods, in addition to lowered relative economic share.

• Publications of The Korean Astronomical Society
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• v.30 no.2
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• pp.721-723
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• 2015

Astronomical outreach activities for the general public who are unfamiliar to astronomy is a challenging task. It requires creative thinking to solve the problem. The amateur astronomical clubs in a number of cities in Indonesia routinely schedule observations at public parks. The interaction between these clubs and formal education institutions is established by face to face interaction and assisted by social media. The physics teachers who took astronomy courses in university are potential resources to enlarge the outreach scope by creating astronomical clubs as an extracurricular activity. Recent progressive trends in astronomy dissemination for the disabled are also a great opportunity to assist the disabled in experiencing hands-on activities based on formal and informal education.

• Korean Journal of Social Welfare
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• v.69 no.2
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• pp.9-30
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• 2017

Generally, regime shift occurs less frequently than policy change and/or government change. Regime shift needs alterations and changes along the three critical components which constitute a domestic regime: (1) the character of the socioeconomic coalition that rules the country; (2) the political and economic institutions through which power is acquired and exercised; and (3) the public policy profile that give political direction to the nation. This paper tries to examine characteristics of the welfare regime of Korea, and explore policy reform options for the welfare regime shift in Korea. From the viewpoint of livelihood security perspective, I firstly tries to examine development process of Korean welfare regime and specify the main characteristics of that regime. Secondly, I present three policy reform options: (1) reform of the formal political institutions such as electoral system and government type; (2) restructuring of the composition of government expenditure structure; and (3) reduction of the informal employment. These three policy reform options are related to the alteration of socioeconomic coalitions and the changes of the political and economic institutions. Instead of concluding remarks, I finally suggest two debate topics to the round table discussion.

• The Korean Journal of Community Living Science
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• v.19 no.2
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• pp.297-308
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• 2008

Previous research on elderly care in rural areas has focused on inter-generational support, ignoring the possibility of elderly care among community members in the rural areas of Korea. This study attempts to explore the roles and potentials of community-based elderly care in rural areas where nearby family or formal services are unavailable. For this purpose, data was collected from the elderly in three Korean rural villages using qualitative case study methods. Each village was studied as a separate case study and in-depth interviews with the elderly in each village were conducted. All interviews were tape-recorded and transcribed verbatim for the analysis. The data was analyzed using the Reflective Qualitative Analytic Technique. Results showed that rural elderly in all three villages had lunch, talked, and played together; almost everyday in the winter. However, the nature of care among rural elderly varied depending on the characteristics of the rural community (the traditional rural, the rural mixed with the urban, and the neighboring rural with the urban). Specifically, the use of mutual aids (providing food, repairing housing, and checking personal safety by telephone or visit, etc.) was most consistent at the traditional rural village. Because both the rural village mixed with the urban and the neighboring rural village with urban have better access to many aids and programs from formal institutions, mutual aids among community members decreased compared with the traditional rural village. However, regular group activities such as sports, dancing or debate help to provide pleasure and integrate the community. These results suggest that community relationships as a substitution for social support provide by family or formal services can be utilized in rural areas.

• International Journal of Advanced Culture Technology
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• v.11 no.1
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• pp.110-134
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• 2023

North Korea's development and deployment of nuclear weapons increases Pyongyang's diplomatic bargaining leverage. It is a strategic response to counteract the great expansion in US leverage with the collapse of the USSR. Post-Cold War American influence and hegemony is justified partly by claiming victory in successfully containing an allegedly imperialist Soviet Union. The US created and led formal and informal international institutions as part of its decades-long containment grand strategy against the USSR. The US now exploits these institutions to expedite US unilateral global preeminence. Third World regimes perceived as remnants of the Cold War era that resist accommodating to American demands are stereotyped as rogue states. Rogue regimes are criminal offenders who should be brought to justice, i.e. regime change is required. The initiation of summit diplomacy between US President Trump and North Korean leader Kim Jong-un occurred following the January 2018 Hawaiian ballistic missile false alarm. This event and its political consequences illustrate the efficacy of nuclear weapons as bargaining leverage for so-called rogue actors. North Korea is highly unlikely to surrender those weapons that were the instigation for the subsequent summit diplomacy that occurred. A broader, critical trend-focused strategic analysis is necessary to adopt a longer-term view of the on-going Korean nuclear crisis. The aim would be to conceptualize long-term policies that increase the probability that nuclear weapons capability becomes a largely irrelevant issue in interaction between Pyongyang, Seoul, Beijing and Washington.