• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.191-212
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• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• Health Policy and Management
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• v.11 no.2
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• pp.85-122
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• 2001

This study compared and analyzed the effect of income-redistribution, collecting data on the basis of the estimated details of insurance contribution and individual money wage lists for each one year before and after the combination of medical insurance program for industrial workers, by systematic sampling, extracting 4,160 families(14,764 people) among people applied to medical insurance program for self employees in Taegu City on the basis of Oct. 1st in 1998 with 227 associations of medical insurance program for self employees and medical insurance program for government employees and private school teachers combined, comparing the effect of income redistribution of before and after the combination of medical insurance program for self employees. The insurance contribution by household after the combination of medical insurance program for self employees showed the increase rate of average 20.9%, among them households of 68.8% increased and 31.2% decreased. The effect of income-redistribution was more positive because the degree of inequality was more deepened from 0.64 of the before-combination to 0.45 of the after-one in decile distribution ratio, from 0.26 to 0.34 in Gini -coefficient. Decile distribution ratio on the basis of insurance benefits by household was from 0.09 in the before-combination to 0.14 in the after-one, Gini-coefficient from 0.16 in the before-combination to 0.57 in the after-one was a little lowered. And decile distribution ratio of insurance benefits on the basis of insurance contribution was higher from 1.08 in the before-combination to 1.23 in the after-one, concentration index was a little lowered from 0.14 to 0.11, the effect of income-redistribution was improved in the phase of insurance benefits. The income-transfer rate of medical insurance program for self employees (the occupied rate of insurance benefits/ the occupied rate of insurance contribution) showed a lower trend in all of the before and after-combination towards upper classes, it was known that the income-transfer rate was higher from 1st degree to 7th degree in the after-combination in comparison with the before-one, but the effect of income¬redistribution was high because the income-transfer rate was lowered from 8th degree to 10th degree. The rate of medical insurance benefits (insurance benefits/ insurance contribution) increased from 0.79 in the before-combination to 1.07 in the after-one, and showed over 1.0 under 3th degree before the combination, but all of it was higher than 1.0 under 7th degree after the combination, the after-combination was more improved than the before-one in view of the rate of insurance benefits. As the result of above, on the basis of Oct. 1st in 1998 that 227 associations of medical insurance program for self employees was combined into one, we could say that the equality of imposing medical insurance contribution was more re-considered in the after-combination than in the before-one. But this study analyzed with classes divided, anyway, on the basis of insurance contribution, we have limit in explaining the correct effect of income-redistribution, because it was not analyzed according to classes of income, though it helps to analogize the effect of income-redistribution. So there must be analysis about the effect of income-redistribution, on the basis of the system, building up the system to grasp the correct income of the insureds of medical insurance program for self employees.

• The Journal of Fisheries Business Administration
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• v.37 no.3 s.72
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• pp.109-130
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• 2006

Rapid economic development has led seafood consumption to its quality - oriented pattern as well as consumer's in China. This study concerns about The First, China is Seafood development background. The Second, China become emboldened seafood causes. The third, seafood consumption has characteristic. The fourth, seafood consumption has the organization of society. The study shows that there are economic developmental periods Chinas has three time. The First time$(1961\sim1983)$ is rapid growth. The Second time$(1984\sim1998)$ is growth accumulate. The third time$(1999\sim)$ is changing on seafood consumption as the consumption of seafood is changed according to economic variables changes in income, price, tastes and population. This changing pattern of seafood consumption is based on economic variables appears toward luxury and convenience seafoods. Consumption of food is also affected by non - economic variables. The most typical non - economic variables leading to changes of seafood consumption is local, seafood culture, $et{\ldots}$ Recently seafood consumption pattern shows that consumers paying more money to get their seafood preference for pursuing its hight growth and varienty.

• Journal of the Korean Home Economics Association
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• v.38 no.5
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• pp.121-136
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• 2000

The purpose of this study was to identify the factors affected on the leisure participation, leisure satisfaction and leisure erect of the middle-aged and the aged who were participated in the leisure programs of the public community facilities. The sample in this study consisted of 351 middle-aged and aged living in Seoul and Daegu. frequencies, means and multiple regressions were employed for the analysis. The resets of this study were as follows: The factors affected on the leisure participation were age, number of the family, residence, and tuition fee. The factors had erects on the leisure satisfaction were sex, pocket money, residence, and the access of the transportation. And, the factors affected on the leisure effect were educational attaintment, total household income, number of the family, leisure attitude, and the access of transportation. The findings suggest that the advertisement will be needed for more use of the leisure programs in the public community facilities. And the Public transportation service will help middle-aged and aged access the facilities and participate the leisure programs.

• The Korean Journal of Community Living Science
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• v.17 no.3
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• pp.67-87
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• 2006

This study examined how middle-aged jobholders anticipate their living after retirement, how they plan their post-retirement financial welfare and what attitude they have towards old age. The data came from 290 middle-aged male and female people in Incheon, Suwon and Cheongju city and were analyzed to find the differences among public planned pension types, such as the National Pension System (NPS), the Government Employee Pension Corporation (GEPC), and the Korea Teachers Pension (KTP). The major results were as follows: First, the expected income level after retirement in GEPC members was the highest and the lowest in KTP members. Second, the expected living period after retirement is the main criteria used when determining the amount of money needed for old age. Third, KTP members were of the most inferior at financial planning and practice, especially self-reflection of their expending behavior, thrift and saving practice for old age.

• Journal of the Korean Society of Clothing and Textiles
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• v.30 no.7 s.155
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• pp.1103-1115
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• 2006

In this study, clothing consumption behaviors of Russian and Korean female college students were compared. Data were collected by conducting surveys in Russia and Korea. In results, Russian female college students spent considerably more money on clothing than did Korean students, compared to the income level. Korean consumers bought clothing mostly in the department stores, whereas Russian consumers preferred large shopping centers, discount stores and traditional markets to shop clothing. As important factors affecting clothing purchase decision, Russian consumers considered country of origin while Korean consumers considered style. Korean consumers were satisfied more on domestic brands than did Russian consumers while Russians were more satisfied with foreign brands than did Koreans. Russian consumers considered diverse factors in forming attitude and buying intention toward domestic and foreign brands. In contrast, Korean consumers' attitude and purchase intention were influenced much by style. Based on study results, marketing implications were provided.

• Korean Journal of Human Ecology
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• v.16 no.3
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• pp.563-576
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• 2007

The purpose of this study is to analyze the financial performance according to the economic environment change. The data of 4,577 households in 2003 and 3994 households in 2000 is from the Korean Labor and Income Panel Study. The data were analyzed by various statistical methods such as frequency, mean-test, Duncan's multiple range test, k-mean cluster analysis. Findings were as follows; First, the classified household financial strategy types were Residual(44.3%), Financial Assets(24.0%), Informal Institutional(19.7%), Diversified Portfolio(7.6%), Real Estate(4.5%). Second, the criteria of classification of the financial strategies were relative, not absolute. Third, the rate of economic growth was high and the index of the current money was low in 2000. Fourth, households that employed a diversified portfolio strategy had the greatest net wealth.

• Journal of the East Asian Society of Dietary Life
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• v.20 no.1
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• pp.128-137
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• 2010

Due to the increasing income of married working couples, people have become accustomed to dining out and spending more money when doing so. As a result, various restaurants are operating and new concept restaurants are emerging to meet the needs of customers. The purpose of dining-out depends upon who the companion is and the choice of restaurant and spending seems to be affected by the purpose. In addition, characteristics of consumers influence their dining-out behaviors. This study explored the relationship the between characteristics of consumers and their reasons for eating-out purpose, choice of restaurant, spending habits and preferred restaurant type.

• Journal of the Korean Home Economics Association
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• v.26 no.1
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• pp.123-136
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• 1988

This study attempts to shed some lights on an effect of consumer education by using the formal education as a proxy variable and measuring the effect of the formal education on consumer behavior. This study utilizes economic theories and develops a theory to analyze the effect. Within the conceptual framework employed in this study, it is hypothesized that education raises productivity in the nonmarket sector and thereby affects consumer behavior in the same manner as money income affects behavior. the data are taken from the self-administered questionnaires among 553 housewives in July 1987. the procedure used is to fit separate engel curves for the expenditures on various goods by the weighted regression technique. The empirical results support the hpothesis. Therefore, this study shows positive effects of education on the productivity of household production functions. This result implies that consumer education would enhance efficiency in consumer behavior significantly.

• Fashion & Textile Research Journal
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• v.8 no.5
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• pp.530-536
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• 2006

The purpose of this study was to classify the clusters based on two behavioral intentions toward purchasing originals and counterfeits of foreign fashion luxury brands and to examine the differences in personality characteristics and demographics. This study included attitude toward counterfeit, consumer ethnocentrism, materialism, and need for uniqueness as personality characteristics and gender, monthly household income, and pocket money as demographics. Data were gathered by surveying university students living in Seoul metropolitan area using convenient sampling, and 320questionnaires were used in the statistical analysis. In analyzing data, cluster analysis, x-test, and One-way ANOVA were conducted. As a result of the cluster analysis based on two behavioral intentions toward purchasing originals and counterfeits, four groups were identified. There were significant differences in attitude toward counterfeit and materialism according to the purchasing intention clusters. x-tests also showed there were significant differences between the number of male and female subjects in each of the four clusters. Females are significantly more represented than females in all four clusters.