• Title/Summary/Keyword: global economy

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The Evolution of Green Growth Policy: An Unwelcome Intrusion on Global Environmental Governance?

  • Park, Jeongwon
    • East Asian Economic Review
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    • v.17 no.2
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    • pp.207-241
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    • 2013
  • The notion of green growth emerged in 2009. Since then, policy makers and practitioners have largely adopted the term. Although rather intermittently, there have been academic observations on green growth, with the term often being cited as a paradigm and a policy guide for generating new sources of growth. The most important reasons for the surge in green growth today as a new trend and an international agenda item are the rather unsatisfactory results and pitfalls of sustainable development, which has failed at promoting a tangible international environmental principle or a concrete policy framework. Green growth has been proposed as an alternative simultaneously to foster the dynamics of global environmental governance and to reinvigorate the world economy. This study examines to what extent green growth plays a complementary role in existing global environmental governance. Available evidence provides reasonable grounds for arguing that a positive outcome may well be expected from the evolution of green growth architecture and followed by practical policies. It became a global agenda out of a few influential national governments' control. However, decision makers in the leading countries, both developed and developing must be willing to continue implementing what has been discussed and agreed thus far, beyond changes in political leadership and administrations.

Analysis on Korean Economy with an Estimated DSGE Model after 2000 (DSGE 모형 추정을 이용한 2000년 이후 한국의 거시경제 분석)

  • Kim, Tae Bong
    • KDI Journal of Economic Policy
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    • v.36 no.2
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    • pp.1-64
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    • 2014
  • This paper attempts to search the driving forces of the Korean economy after 2000 by analyzing an estimated DSGE model and observing the degree of implementation regarding non-systematic parts of both the monetary and fiscal policy during the global financial crisis. Two types of trends, various cyclical factors and frictions are introduced in the model for an empirical analysis in which historical decompositions of key macro variables are quantitatively assessed after 2000. While the monetary policy during the global financial crisis have reacted systematically in accordance with the estimated Taylor rule relatively, the fiscal policy which was aggressively expansionary is not fully explained by the estimated fiscal rule but more by the large magnitude of non-systematic reaction.

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The Impact of COVID-19 Pandemic on Indonesia's Economy and Alternative Prospects for Untact Society

  • Lee, Kyungchan
    • SUVANNABHUMI
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    • v.13 no.2
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    • pp.7-35
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    • 2021
  • This research is an attempt to understand the economic and social consequences that are occurring in Indonesia due to the spread of COVID-19. Indonesia, which has maintained solid economic growth since the inauguration of President Jokowi's government, is also experiencing difficulties to deal with unexpected COVID-19 pandemic as the global economic turmoil has had a very significant impact on its economy. The economic impact of COVID-19 can be felt, starting from the phenomenon of panic buying, the free fall of the stock price index, the depreciation of the Rupiah against the Dollar, sluggish activities in the processing industry, and ultimately it has an impact on slowing economic growth. Various policies and measures have been taken by the Indonesian government to minimize the negative impact caused by the COVID-19 pandemic on the economy. One such area is electronic commerce business or e-commerce that witnessed a vast increase of online and non-cash transaction amid rising voices that the country needs to prepare for the advent of a new economic system, the so-called New Normal era. The Covid-19 pandemic will temporarily slow economic growth and delay some development projects and policy initiatives as the Indonesian government diverts capital from infrastructure development to help respond to the crisis. However, the Jokowi administration's efforts for continuous reform are expected to accelerate the transition to the digital economy.

Rising of Islamic Economy in Malaysia: Focus on Finance and Consumption (말레이시아 이슬람 경제의 대두: 금융과 소비 영역을 중심으로)

  • Lee, Sunho
    • The Southeast Asian review
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    • v.24 no.1
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    • pp.89-132
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    • 2014
  • This study examined Islamic economy of Malaysia. In this process, Islamic economy was classified two fields such as finance and consumption. In finance, this study focuses on development of Islamic banking, Islamic insurance(Takaful) and Islamic capital market and institutional support of Malaysia. In consumption, this study focuses on halal industry and halal certification system of Malaysia. As a result, two fields of Islamic economy in Malaysia are growing up more systematic and extensive than before. Because interest in Islam finance and style is increasing and government of Malaysia has been giving support to these fields. That is, Malaysia is aimed at global hub of Islamic finance and giving various supports to financial field. Indeed, Malaysia is making effort to internationalization and development of halal industry. From these active supports of Malaysia, Islamic economics of Malaysia will be developed and Malaysia will be a leader of Islamic economy in the world.

A Study on the Global Perspective for Arctic Shipping

  • Boldbaatar, Tumenjargal;Yoon, Dae-Gwun
    • Proceedings of the Korean Institute of Navigation and Port Research Conference
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    • 2015.07a
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    • pp.203-204
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    • 2015
  • This study examines the view of global trends in the Arctic Shipping. It is also provides a framework for understanding how participated in Arctic. The trends that had made it a centre of global attention. Surge of interest in its economy and politics has increased. That surge was driven by three things. Political and business agreements in the Arctic and with Arctic states, a trend that is likely to continue as the Arctic warms.

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The Research Trends of the Korean Association for Political Economy After 2007 (2007년 이후 한국사회경제학회의 연구동향과 진로)

  • Park, Ji-Ung
    • 사회경제평론
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    • v.31 no.1
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    • pp.25-61
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    • 2018
  • Nowadays 87 regimes born in the same year with the Korean Association for Political Economy(KAPE in abbreviation) have ended historically. This paper surveys the research trends of KAPE after 2007 for the 30th founding anniversary. This survey is expected to help research way forward of KAPE. The main contents of the surveys are as follows. Global finance crisis caused by subprime mortgage crisis in 2007 expanded to global economic crisis resulting in the crisis of economics. KAPE criticized the mainstream economics with different approach and methodology as well as political economy copying with the crisis of economics and then focused on economics of inequality. However, the progressive economics is depressed under the conservative regime after 2007. As a result, the progressive economics have experienced the crisis of reproduction of knowledge and have become the peripheral science in Korea. With new regimes after 87 regimes, more important than restoration of the progressive economics is rebirth as the progressive economics corresponding to new regime and new era. This is responsibility of KAPE as the single association of the progressive economics in Korea.

Features of State Regulation of the Hotel and Restaurant Business in the Digital Economy

  • Davydova, Olena;Tomalia, Tetiana;Prylepa, Nataliia;Hryzovska, Liliia;Borutska, Yuliia
    • International Journal of Computer Science & Network Security
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    • v.22 no.9
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    • pp.69-74
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    • 2022
  • The main purpose of the study is to determine the features of state regulation of the hotel and restaurant business in the digital economy. Particularly relevant are the processes of digitalization of the service sector. Trade and transport companies, enterprises in the hotel and restaurant industry, catering got the opportunity to expand the target audience, improve the quality of service, develop at an accelerated pace, take into account that in the global digital economy, victory will go to those whose arsenal will involve a large number of high-quality digital platforms. As a result of the study, key aspects of state regulation of the hotel and restaurant business in the digital economy were identified.

Exploring Factors Affecting the Digitization of Blue Economy Micro- Small and Medium Enterprises (MSMEs): Indonesian Context

  • SIHOMBING, Sabrina O.;LAYMAN, Chrisanty V.;HANDOKO, Liza
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.10
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    • pp.129-135
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    • 2022
  • This study aims to identify the factors supporting and inhibiting the digitalization of blue economy MSMEs in Bitung, Indonesia. The literature shows little research on digitalization related to the blue economy in Southeast Asia, especially in Indonesia. This indicates that there is a large research gap related to digitalization and the blue economy in the Indonesian context. Data was collected through the distribution of questionnaires with open-ended questions to blue economy MSMEs. Data was also obtained from in-depth interviews with representatives of Aruna, an Indonesian company that focuses on simplifying the supply chain of fishery products by connecting small-scale fishers to the global market through technology. According to the study's findings, two primary factors-motivation to develop their business and efforts to maintain seller-buyer interaction-support SMEs' use of technology in the blue economy. However, digital literacy and technological infrastructure, such as the internet network, are the two main factors that become obstacles in the effort to digitize MSMEs in the blue economy. The role of the government is also a contingent factor that can strengthen the relationship between factors that support digitization and weaken the relationship between factors that hinder digitalization.