• Journal of Energy Engineering
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• v.23 no.3
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• pp.66-71
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• 2014

Oil is obviously vital for economic growth and industry development. This paper attempts to explore whether or not there is a inverted-U relationship between oil consumption and economic growth. To this end, we employ a panel data analysis with fixed effect or random effect models using the set of data from 61 countries for the year 1990-2008. In conclusion, a statistically significant inverted-U relationship between per capita consumption of oil and per capita GDP is found. However, the level of per capita GDP at the peak point of per capita oil consumption is estimated to be 65,072 in 2005 international constant dollars, which is much larger than economic scales of sampled countries. Thus, as per capita GDP grows, per capita oil consumption is predicted to increase until eventually reaching the peak.

• The Journal of Economics, Marketing and Management
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• v.9 no.4
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• pp.1-8
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• 2021

Purpose: This study empirically investigates what factors contribute to corporate value in the Korea New Exchange (KONEX) market and determines whether financial constraints contribute any effect on it. Research design, data and methodology: A fixed-effect panel regression model was utilized to analyze financial constraints on firm value for KONEX listed firms through the fiscal period from 2013 to 2020. Results: we find that firms' research and development, volatility, size, and sales growth give significant impacts to firm value, but the significance and direction are different. In addition, no significant relationship exists between the largest shareholder's equity ratio and firm value in all models. The debt-to-equity ratio did not show a significant relationship with corporate value. A significant negative relationship was found between R&D and corporate value in the entire sample. Volitility exhibited a positive relationship with corporate value in the entire sample and financially unconstrained companies. Firm size presented a significant negative relationship with company value in all models. Sales growth showed a significant negative relationship with corporate value in financially constrained companies. Conclusions: No difference is found between financially constrained and unconstrained companies in the KONEX market. We can infer that KONEX companies have a large difference with KOSPI or KOSDAQ. Further analysis is needed on the differences among these markets.

• Korean Journal of Social Welfare
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• v.68 no.3
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• pp.105-125
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• 2016

School absenteeism is considered one of the early predictors of school drop-out and serious delinquency or criminal behavior. The primary goal of the current study was to explore the protective and risk factors related to changing school absenteeism over time based on the ecological-systemic perspective. The data was derived from the Korean Children and Youth Panel Survey (KCYPS) using the 2011 and 2012 survey waves collected from 2,378 elementary school students. Using this data, Panel Fixed Effects Analysis was conducted. Major findings indicated that daily computer usage, parental abuse, school activity attendance, and school grades had an effect on students missing school days over time. Specifically, high levels of computer usage and parental abuse were related to increased school absenteeism, while high levels of school activity attendance and school grades were associated with decreased school absenteeism. These findings emphasized the importance of predictive intervention for children and suggested the need to construct a school absenteeism monitoring system in South Korea.

• Korean Journal of Artificial Intelligence
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• v.7 no.2
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• pp.9-12
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• 2019

With the Chinese government's attention to the artificial intelligence industry, the Chinese government has invested a lot in it recently. Of course, the importance of artificial intelligence industry for China's economic development is increasingly significant. The advent of artificial intelligence boom has also triggered a large number of scientists to analyze the impact of artificial intelligence on economic growth. Therefore, this paper use 31 China's cross-province panel data to study the effect of artificial intelligence on economic growth. Via empirical analyses under a series of econometric methods such as the province and year fixed effect model, the empirical result shows that artificial intelligence has a positive and significant effect on economic growth. Namely, the artificial intelligence is a new engine for economic growth. Meanwhile, the empirical results also indicate that the investment and consumption has a significant and positive effect on economic growth. Oppositely, the inflation and government purchase have a significant negative effect on economic growth. These findings in this paper also provide some important evidences for policy-makers to perform precise behaviors so as to promote the economic growth. Moreover, these finding enriches existing literature on artificial intelligence and economic growth.

• Journal of Labour Economics
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• v.40 no.1
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• pp.69-97
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• 2017

This paper estimates the public and private sector wage gap trend from 2000 to 2014 using 'Korean Labor and Income Panel Study.' We account for unobserved fixed effect by using 1st differencing log wage in order to allow the gap to vary over time. Standard OLS estimates present the public sector wage is 10% higher than private sector on average. Moreover, the public sector wage premium displays the inverted V shape: sharply increasing up to 2006 and decreasing from 2007 to 2014. However, after controlling unobserved fixed effect, the public sector wage premium disappears and does not display the inverted V shape any more.

• International Commerce and Information Review
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• v.16 no.5
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• pp.361-385
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• 2014

This study focused on Spillover of Technology Trade against Post- BRICs of the Technology export of Korea. Therefore this study made an empirical analysis for investigating the competitiveness of technology export in Korea and using panel data 2003-2012 of technology trade data between 6 Countries(Indonesia, Mexico, Nigeria, South Africa, Turkey, Vietnam). In particular, the study deduced the correlation between technology export in Korea using the variables of Gross Domestic Expenditure on R&D and Per capita GDP, distance, population, free-trade index, FDI, Technology-Intensive Manufactures, Pattern Investment fixed effect model in panel linear regression model. It is found that the Technology export of Korea SMEs made a significant effect on the pop, free_trade, and distance. and also it is found that the Technology export of Korea Big Business made a significant effect on the per-GDP, Fdi from Korea, free_trade, and distance. The results suggest that the study should use technology gap variables and the strategy for activating the Technology export of Korea should be made for future works.

• Economic Analysis
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• v.27 no.3
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• pp.33-60
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• 2021

This study estimates the fiscal multiplier using Input-Output table panel data from year of 2010 to 2018. Considering the endogeneity of the government expenditure, this study uses the share of government expenditure by sector in the initial period as an instrument variable. The estimation from the panel fixed effect instrumental variables model shows that the estimate for the current period of government expenditure is 1.15~1.22 and the estimate for the cumulative multiplier is 1.23~1.32 depending on the method of controlling time trend. Since the general equilibrium effect absorbed by the time-fixed effect in the estimation equation, the estimated multiplier in this study may be different from the multiplier of the economy as a whole. The general equilibrium effect depends on the response of monetary policy, changes in tax policy, and interaction between sectors.

• Korean Medical Education Review
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• v.12 no.1
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• pp.3-8
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• 2010

This study is designed to evaluate the effectiveness of teaching or studying programs, and thus to overcome the selectionbias in studies. Selection-bias derived from unobservable characteristics in the course of participants selection of the teaching or studying programs, in the case of cross-section data instrumental variable(IV) method and two stage least square estimation were suggested as an analysis tool. Panel data were analyzed by using both fixed effect in which individual effects are captured by intercept terms and random effect estimation where an unobserved effect can be characterized as being randomly drawn from a given distribution.

• Journal of the Korean Solar Energy Society
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• v.25 no.4
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• pp.85-92
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• 2005

One of the most effective methods for utilizing solar energy is to combine thermal solar and optical energy simultaneously using a hybrid panel. Many systems using various kinds of photovoltaic panels have already been constructed. But utilizing solar energy by means of a hybrid panel with concentrator has not been to be attempted yet. Normally if sunlight is directed on the solar cell, and there is no increase in temperature, the absorption energy of each cell will increase per unit area. In a silicon solar cell. however, cell conversion efficiency decreases according to the increasing temperature. Therefore, to maintain cell conversion efficiency under normal condition, it is necessary to keep the cell at operating temperature. we design and make new hybrid panel with cooling system to prevent increasing of temperature on cell, collect effectively thermal energy. We compared performance of new hybrid panel with PV module and thermal panel. We also evaluated conversion efficiency, electric power and thermal capacity and confirmed cooling effect from thermal absorption efficiency.

• Journal of Labour Economics
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• v.43 no.1
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• pp.35-57
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• 2020

Using the Korea Labor and Income Panel Study(KLIPS), this study analyzes the effects of profit sharing on employer-provided training. The estimation results of the fixed effect model that controls for endogeneity show that the workers of profit-sharing firms have a 6.7%-6.8%p higher probability of receiving employer-provided training than the workers of firms without profit sharing. They also show that the workers of profit-sharing firms have a 3.3%p higher likelihood of having employer-provided OJT than their counterparts. The impacts of profit-sharing on employer-provided training appear consistently regardless of the estimation models and in the subsamples. These findings support the hypothesis that profit-sharing promotes employer-provided training.