• Title/Summary/Keyword: long-run relationship

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The Multi-door Courthouse: Origin, Extension, and Case Studies (멀티도어코트하우스제도: 기원, 확장과 사례분석)

  • Chung, Yongkyun
    • Journal of Arbitration Studies
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    • v.28 no.2
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    • pp.3-43
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    • 2018
  • The emergence of a multi-door courthouse is related with a couple of reasons as follows: First, a multi-door courthouse was originally initiated by the United States government that increasingly became impatient with the pace and cost of protracted litigation clogging the courts. Second, dockets of courts are overcrowded with legal suits, making it difficult for judges to handle those legal suits in time and causing delays in responding to citizens' complaints. Third, litigation is not suitable for the disputant that has an ongoing relationship with the other party. In this case, even if winning is achieved in the short run, it may not be all that was hoped for in the long run. Fourth, international organizations such as the World Bank, UNDP, and Asia Development Bank urge to provide an increased access to women, residents, and the poor in local communities. The generic model of a multi-door courthouse consists of three stages: The first stage includes a center offering intake services, along with an array of dispute resolution services under one roof. At the second stage, the screening unit at the center would diagnose citizen disputes, then refer the disputants to the appropriate door for handling the case. At the third stage, the multi-door courthouse provides diverse kinds of dispute resolution programs such as mediation, arbitration, mediation-arbitration (med-arb), litigation, and early neutral evaluation. This study suggests the extended model of multi-door courthouse comprised of five layers: intake process, diagnosis and door-selection process, neutral-selection process, implementation process of dispute resolution, and process of training and education. One of the major characteristics of extended multi-door courthouse model is the detailed specification of individual department corresponding to each process within a multi-door courthouse. The intake department takes care of the intake process. The screening department plays the role of screening disputes, diagnosing the nature of disputes, and determining a suitable door to handle disputes. The human resources department manages experts through the construction and management of the data base of mediators, arbitrators, and judges. The administration bureau manages the implementation of each process of dispute resolution. The education and training department builds long-term planning to procure neutrals and experts dealing with various kinds of disputes within a multi-door courthouse. For this purpose, it is necessary to establish networks among courts, law schools, and associations of scholars in order to facilitate the supply of manpower in ADR neutrals, as well as judges in the long run. This study also provides six case studies of multi-door courthouses across continents in order to grasp the worldwide picture and wide spread phenomena of multi-door courthouse. For this purpose, the United States and Latin American countries including Argentina and Brazil, Middle Eastern countries, and Southeast Asian countries (such as Malaysia and Myanmar), Australia, and Nigeria were chosen. It was found that three kinds of patterns are discernible during the evolution of a multi-door courthouse model. First, the federal courts of the United States, land and environment court in Australia, and Lagos multi-door courthouse in Nigeria may maintain the prototype of a multi-door courthouse model. Second, the judicial systems in Latin American countries tend to show heterogenous patterns in terms of the adaptation of a multi-door courthouse model to their own environments. Some court systems of Latin American countries including those of Argentina and Brazil resemble the generic model of a multi-door courthouse, while other countries show their distinctive pattern of judicial system and ADR systems. Third, it was found that legal pluralism is prevalent in Middle Eastern countries and Southeast Asian countries. For example, Middle Eastern countries such as Saudi Arabia have developed various kinds of dispute resolution methods, such as sulh (mediation), tahkim (arbitration), and med-arb for many centuries, since they have been situated at the state of tribe or clan instead of nation. Accordingly, they have no unified code within the territory. In case of Southeast Asian countries such as Myanmar and Malaysia, they have preserved a strong tradition of customary laws such as Dhammthat in Burma, and Shriah and the Islamic law in Malaysia for a long time. On the other hand, they incorporated a common law system into a secular judicial system in Myanmar and Malaysia during the colonial period. Finally, this article proposes a couple of factors to strengthen or weaken a multi-door courthouse model. The first factor to strengthen a multi-door courthouse model is the maintenance of flexibility and core value of alternative dispute resolution. We also find that fund raising is important to build and maintain the multi-door courthouse model, reflecting the fact that there has been a competition surrounding the allocation of funds within the judicial system.

A Dynamic Panel Approach to Examining the Effects of Local Fiscal Expenditures on Water Quality (동태적 패널접근을 활용한 지방 재정지출의 수질개선 효과분석)

  • Hyonyong Kang;Dong Hee Suh
    • Environmental and Resource Economics Review
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    • v.33 no.2
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    • pp.159-178
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    • 2024
  • This study aims to assess the direct and indirect impacts of local fiscal expenditures on water quality. Panel data spanning from 2010 to 2018 for 173 cities and districts in Korea are assembled, and a two-stage dynamic panel model is utilized for our estimation. The empirical findings reveal several key insights. Firstly, local fiscal expenditures on water quality are effective in ameliorating both Biological Oxygen Demand (BOD) and Total Phosphorus (T-P). Notably, the direct impact on T-P surpasses that on BOD in the short and long run. Secondly, expenditures dedicated to water quality improvement demonstrate a positive effect on local economic growth, and an inverted U-shaped relationship is observed between BOD and local economic growth. Due to the positive linkage, the indirect effect on BOD suggests, on average, a deterioration in water quality during local economic growth. Thirdly, concerning BOD, the direct effect of government expenditure on water quality improvement outweighs the indirect effect, but in the case of T-P, the indirect effect is not significant, and the total effect is solely determined by the direct impact. Despite local fiscal expenditures potentially exacerbating water quality through regional economic growth, the study finds that the direct enhancement of water quality remains a more substantial factor in the short and long run.

The effect of electronic commerce on the economy - logistics industry perspective - (전자상거래가 경제에 미치는 효과 - 물류 정보화를 중심으로 -)

  • 김범환
    • Proceedings of the Technology Innovation Conference
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    • 1999.12a
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    • pp.281-295
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    • 1999
  • This paper analyses the effects of the increase of logistics outsourcing on the economy which are largely classified into three parts. The firm level and industry level are two among them which will be summarized below. The another is consumers level. On the fm level, the logistics outsourcing of a manufacturing firm not only helps to increase the efficiency of itself and but also confront the competitive environments by weakening the entry barriers, i.e., the emergence of contestable market. The reasons why the efficiency of the firm enhances are also largely divided into two parts. One is due to the reduction of inventory cost by replacing it by the information cost resulting from internet use. The other is owing to reducing the life cycle of production process by the emergence of virtual enterprises which are located in one point in De process of supply chain management. The weakening of entry barriers is directly affected by the drastic increase of internet users in twofold reasons: one is based on the restricted competitive characteristics due to the long-term transaction relationship between logistics providers and the companies who offer logistics services and the other, due to the weakening of the restriction of space and time. The effect of industry level is due to the transition of traditional to virtual vertical integration system The firms corresponding to a connection point in the process of supply chain management would try to realize both the scale of economy and the scope of economy for strengthening the competitiveness. We indicated above the emergence of contestable market however, it is a short-term phenomenon and result in the oligopoly market due to the entry barriers in the long-run sense.

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The Dynamic Analysis between Environmental Quality, Energy Consumption, and Income (소득 및 에너지소비와 환경오염의 관계에 대한 분석)

  • Jung, Sukwan;Kang, Sangmok
    • Journal of Environmental Policy
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    • v.12 no.3
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    • pp.97-122
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    • 2013
  • The ARDL(Autoregressive Distributed Lag) method is employed analyzes the long-run equilibrium relationships among environmental pollution($CO_2$ emissions) per capita, income levels per capita, and energy consumption per capita. The error correction model is employed to analyze the short-term effects of income and energy consumption on $CO_2$ emissions. The Toda-Yammamoto method is employed for causal analysis among the three variables. The results show that income levels, energy consumption, and $CO_2$ emissions are cointegrated. We found the N type relationship between income and $CO_2$ emissions. Long-term elasticities of income and energy consumption with respect to $CO_2$ emission were greater than their short-term elasticities. There were a bilateral causality between energy consumption and $CO_2$ emissions. There was a unilateral causality from $CO_2$ emissions to income and from energy consumption to income not vice versa. Energy consumption can be an important variable to contribute to forecasting $CO_2$ emissions.

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A Development of PM10 Forecasting System (미세먼지 예보시스템 개발)

  • Koo, Youn-Seo;Yun, Hui-Young;Kwon, Hee-Yong;Yu, Suk-Hyun
    • Journal of Korean Society for Atmospheric Environment
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    • v.26 no.6
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    • pp.666-682
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    • 2010
  • The forecasting system for Today's and Tomorrow's PM10 was developed based on the statistical model and the forecasting was performed at 9 AM to predict Today's 24 hour average PM10 concentration and at 5 PM to predict Tomorrow's 24 hour average PM10. The Today's forecasting model was operated based on measured air quality and meteorological data while Tomorrow's model was run by monitored data as well as the meteorological data calculated from the weather forecasting model such as MM5 (Mesoscale Meteorological Model version 5). The observed air quality data at ambient air quality monitoring stations as well as measured and forecasted meteorological data were reviewed to find the relationship with target PM10 concentrations by the regression analysis. The PM concentration, wind speed, precipitation rate, mixing height and dew-point deficit temperature were major variables to determine the level of PM10 and the wind direction at 500 hpa height was also a good indicator to identify the influence of long-range transport from other countries. The neural network, regression model, and decision tree method were used as the forecasting models to predict the class of a comprehensive air quality index and the final forecasting index was determined by the most frequent index among the three model's predicted indexes. The accuracy, false alarm rate, and probability of detection in Tomorrow's model were 72.4%, 0.0%, and 42.9% while those in Today's model were 80.8%, 12.5%, and 77.8%, respectively. The statistical model had the limitation to predict the rapid changing PM10 concentration by long-range transport from the outside of Korea and in this case the chemical transport model would be an alternative method.

The Analysis of Granger Causality between GDP and R&D Investments in Government, Private, Defense Sectors (국방 R&D 투자 및 정부, 민간 R&D 투자와 국민소득간의 상호 인과관계 분석)

  • Lee, Jin-Woo;Kwon, O-Sung
    • Journal of the military operations research society of Korea
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    • v.34 no.1
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    • pp.79-98
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    • 2008
  • The purpose of this paper is to find the desirable R&D policies in defense area by analyzing causality between GDP and R&D investments in government, private, defense sectors. We have five variables which are composed of GDP, total R&D investment, R&D investments in government, private and defense sectors to figure out the causality between R&D investment in defense sector and other components. In the course of analysis on causality, we took the unit root test of variables to prevent spurious regression. Also we need to take cointegration test about non-stationary variables before the causality test. According to these test results, we took the causality test using ECM(Error Correction Model) for the models which have cointegrating relations. And we took ordinary Granger causality test for model which doesn't have a long-run stationary relationship. As a result of the causality test, it was shown that there exists the long-nu causality to GDP and R&D investments in government and private sectors from other variables. However, there doesn't exist the causality to defense R&D investment from other variables. We found that there doesn't exist the causality between R&D investments in defense and private sectors, and that they are independent.

Modeling and Analysis the Competition Dynamics among Container Transshipment Ports : East-Asian Ports as a Case Study (컨테이너 환적 항만 간의 동태적 경쟁에 관한 연구 : 동아시아 항만을 중심으로)

  • Abdulaziz, Ashurov;Kim, Jae-bong;Park, Nam-ki
    • Journal of Korea Port Economic Association
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    • v.32 no.4
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    • pp.165-182
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    • 2016
  • This study examines the competitiveness and cooperativeness among the container ports in East Asia by analyzing their monthly dynamics in eight years (2008-2015). Time series data on container throughput divided into origin and destination (O/D), such as the top six Chinese ports and the transshipment (T/S) ports such as Hong Kong, Busan, and Singapore, are computed with two methods based on the Vector Error Correction Model (VECM). The first Granger causality test results show that Busan T/S has significant bilateral relations with three Chinese O/D ports; and significant unidirectional relations with three other O/D ports. Shenzhen port has significant bilateral relations with Singapore, and has a significant unidirectional relation with Hong Kong port. Co-integrating test results showed that Busan holds negative co-integration with all Chinese O/D ports. Impulse response function (IRF) results show an opposite direction between paired ports. The ratios of the impulse from T/S ports are significantly high to one another in the short-run, but its power declines as time passes. The ratio of the impulse from the Chinese ports to T/S ports is less significant in the short-run period, however, it becomes more significant as time passes. The significance of most shocks was high in the second period, but was diluted after the sixth period.

Analysis of the relationship among water-efficiency in the non-agricultural sector, economic growth, electricity generation, and CO2 emission - evidence from Korea - (우리나라에서 비농업 부문의 물 효율성, 경제성장, 전력생산 및 CO2배출 간의 관계 분석)

  • Jung, Yonghun;Lee, Seong-Hoon
    • Journal of Korea Water Resources Association
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    • v.51 no.12
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    • pp.1229-1235
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    • 2018
  • We have examined dynamic relationships among water-efficiency, economic growth, electricity generation, and $CO_2$ emissions in Korea using various time-series analysis methods for 1990-2014. While previous studies have been limited to economic growth, $CO_2$ emissions, and electricity generation, this study contributed to explain the relationship between existing variables and water-efficiency. We find that the four variables reach a balanced state in the long run through short-term adjustment, $CO_2$ emissions and economic growth are responsible for water efficiency, and that $CO_2$ emissions, economic growth and water efficiency are the causes of electricity generation. The long-term impact coefficient estimates on water-efficiency show that the increase in electricity generation and the decrease in $CO_2$ emissions increase water-efficiency. Although economic growth has increased water-efficiency, moreover, we have identified an inverted U-shaped relationship between economic growth and water-efficiency, which suggests that economic growth above a certain level reduces the rate of increase in water-efficiency.

The Price Discovery ana Volatility Spillover of Won/Dollar Futures (통화선물의 가격예시 기능과 변동성 전이효과)

  • Kim, Seok-Chin;Do, Young-Ho
    • The Korean Journal of Financial Management
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    • v.23 no.1
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    • pp.49-67
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    • 2006
  • This study examines whether won/dollar futures have price discovery function and volatility spillover effect or not, using intraday won/dollar futures prices, volumes, and spot rates for the interval from March 2, 2005 through May 30, 2005. Futures prices and spot rates are non-stationary, but there is the cointegration relationship between two time series. Futures returns, spot returns, and volumes are stationary. Asymmetric effects on volatility in futures returns and spot returns does not exist. Analytical results of mean equations of the BGARCH-EC (bivariate GARCH-error correction) model show that the increase of futures returns raise spot returns after 5 minutes, which implies that futures returns lead spot returns and won/dollar futures have price discovery function. In addition, the long-run equilibrium relationship between the two returns could help forecast spot returns. Analytical results of variance equations indicate that short-run innovations in the futures market positively affect the conditional variances of spot returns, that is, there is the volatility spillover effect in the won/dollar futures market. A dummy variable of volumes does not have an effect on two returns but influences significantly on two conditional variances.

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Long Run Relationship Between Population and Yield Revisited: An Analysis of Malthusian Regime (맬서스 국면에 의한 인구와 산출량의 장기적 관계 분석)

  • Rhee, Hyun-Jae
    • The Journal of the Korea Contents Association
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    • v.20 no.6
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    • pp.142-155
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    • 2020
  • This study re-evaluated Malthusian regime which signifies a negative relationship between population and income by employing the trend for the population and the income of the world and panel analysis during 1820-2006 periods. Empirical evidence suggested that Malthusian regime was existed during 1900-1994 periods in the world economy. Even each country had experienced such regime in its own economic growth path. However, the population drastically decreased and output upsurged since 1995, Malthusian regime had not been revealed any more since then. Such phenomenon is mainly resulted from the output is rather increased geometrically when the population is decreased because of a social reason such as decreasing in fertility rate. In addition to this, the population contributes to the production not by a quantity but a quality which is embodied by capital. Particularly, when the population which is associated with demand side is counted, the population is said to be evolved continuously in economy.