• 국제지역연구
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• 제15권2호
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• pp.151-173
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• 2011

본 연구의 목적은 1979년부터 2008년까지 30년 기간 동안 중국에 있어서 경제성장에 영향을 미치는 중요 요소와 요소별 기여수준을 파악하기 위한 것이다. 이를 위하여 고정효과모형과 확률효과모형을 활용하였으며, 적합모델을 선택하기 위하여 Hausman 검정을 활용하였다. 본 연구의 결과 지역금융변수(rsav)가 6개 모형에서 그리고 사회간접자본변수(rsoc)가 2개 모형에서 경제성장에 대해 부(-)의 관계를 보였으나 나머지 3개 변수는 전 모델에서 경제성장에 대해 정(+)의 관계를 보이고 있는 것으로 나타나고 있다. 그리고 노동력 변수의 영향은 서부지역과 동북지역의 경우를 제외하고는 기여율이 상당히 낮은 것으로 파악되었다. 본 연구는 중국의 1인당경제성장률에 대한 각 성장요인의 의미를 찾았는데, 전국모형의 경우 자본의 기여율이 35.9%로 나타난 반면 노동기여율은 4.7% 수준에 불과한 것으로 분석되었다. 그리고 모든 모형에서 자본(rcap)이 중국경제 성장에서 가장 중요한 요인으로 입증되었다.

• The Journal of Asian Finance, Economics and Business
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• 제7권6호
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• pp.47-59
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• 2020

This paper intends to explore the relationship between financial inclusion and financial stability under the scope of Asian economies. The linkage will be thoroughly investigated with country-level and bank-level data of 42 countries in three separate years: 2011, 2014, and 2017. In this study, an inclusive financial system is assessed by two dimensions: usage of financial services and access to the financial system. Usage of financial services ranges from account to credit, savings and payment services. Access to financial system measures the financial outreach where individuals can use financial services. Meanwhile, financial stability, which proxied by Bank Z-score is regarded as the dependent variable. We apply fixed effects regression and random effects regression to capture the impacts of financial inclusion upon financial stability. To enhance the robustness of the model, the Feasible Generalized Least Squares (FGLS) regression is therefore adopted as the solution for the random effects regression. The empirical findings exhibit an overall weak positive influence of financial inclusion on financial stability. The research results also provide both financial institutions and governments with insightful information, which helps them to have an appropriate financial development strategy, improve the regulatory framework and consequently enhance financial stability for the whole system.

• 아태비즈니스연구
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• 제13권3호
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• pp.389-400
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• 2022

Purpose - This study empirically analyzes the effects of food delivery service use frequency and the proportion of single-person households on the generation of MSW (Municipal Solid Waste). Additionally, the study analyzes MSW increase during the COVID-19 period. Design/methodology/approach - The study uses annual information on MSW and related characteristics of 228 Si, Gun, and Gu, which are administrative districts of Korea, from 2015 to 2020. Panel fixed effect model is employed for estimations. Findings - The study finds that food delivery and single-person household have significant effects only on recyclable and standard garbage bag MSW, respectively, not on all produce types of MSW. Additionally, it is estimated that, during the COVID-19 period, the increasing effect of food delivery is intensified while single-person households diminish its increasing effect. Lastly, the study confirms that the marginal effect on the increasing effect of MSW generation by the number of household members. Research implications or Originality - The estimated results are expected to provide useful information for the related policies. In particular, it is necessary to focus more on recyclable MSW concerning the developing delivery culture, and regarding changes in the family structure, focus more on the number of household members than single-person households.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.657-664
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• 2020

We investigate the impact of roads and highways within the provinces on the regional trade of China using the augmented Gravity Model and theory of modeling trade. We take a panel data covering 31 provinces of China over 20 years period (1998-2017) for the estimations. We apply ARMA-OLS model, fixed and random effects, and robust findings by Hausman test. The results imply that road and highway lengths within the provinces have a significantly positive impact on the value of the province-wise exports. The positive impact is due to the fact the increased coverage of roads and highways increase accessibility to resources and mobility of goods and services within the regions. Moreover, employment in the transportation sector, per capita GDP and population of the provinces also illustrate positive and significant influence on regional exports and trade. The impact of China's WTO accession on regional exports has been positive, while the financial crisis has had a negative impact. The year dummies show that, in the years following the financial crisis, China was able to regress from the external shock as trade within the provinces increased. The increase in exports after financial crisis is mainly due to the government policies and support to every province.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.73-84
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• 2020

Existing studies disagree over the core predictors of firm-level financial choices in developing countries. The general practice only validates the traditional capital structure model, which leads to inconsistency and a lack of novelty. This study removed overfitting issues among existing factors and presented the most reliable and advanced capital structure model in Pakistani firms. The panel data include 368 Pakistani companies from 19 non-financial sectors over the period 2004 to 2017. We apply Akaike and Bayesian Information Criteria to remove overfitting issues among inconsistent proxies in the capital structure model. The fixed effects regression is used for basic results and the Generalized Method of Moments is applied to control the endogeneity. Besides the conventional proxies, we report that credit rating, distance from bankruptcy, managerial concentration, and institutional quality are the most advanced capital structure determinants in Pakistan. These predictors remain significant across firm size and growth levels. Also, the findings confirm that new predictors are reliable to define capital structure dynamics and improve the speed of adjustment in overall and sub-sample analysis. The major findings suggest that managers and policymakers should consider these advanced predictors to design their financial settings in firms.

• 노동경제논집
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• 제39권3호
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• pp.99-124
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• 2016

본 연구는 한국노동패널 자료를 사용하여 노동조합이 우리나라 여성근로자들의 임금에 미치는 영향을 실증분석하였다. 분석에는 여성근로자들의 임금함수 추정과정에서 경제활동참여에 의한 선택편의를 고려하였고, 종업원 수가 무응답인 경우 그 값을 보정하여 분석하였으며, 직장에 노동조합이 있고 노동조합에 가입한 조합원 근로자와 가입하지 않은 비조합원 근로자를 직장에 노동조합이 없는 근로자와 비교하여 분석하였다. 그 결과, 고정효과 모형 추정에서 조합원 및 비조합원 더미변수 모두 통계적으로 유의하지 않은 것으로 나타났다. 이로부터 OLS 모형 추정에서 나타난 노동조합의 임금효과는 능력이 높은 여성근로자들이 유노조 사업체에 취업하는 것을 더 선호한 결과이며, 비조합원의 무임승차 효과는 없다고 보는 것이 타당하다는 결론을 도출하였다.

• 아태비즈니스연구
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• 제14권4호
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• pp.431-444
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• 2023

Purpose - This study applies the traditional Structure-Conduct-Performance (SCP) model from industrial organization theory to investigate the relationship between market structure and performance in China's banking industry. Design/methodology/approach - For analysis, financial data from the People's Bank of China's "China Financial Stability Report" and financial reports of 6 state-owned banks and 11 joint-stock banks for the period 2010 to 2021 were collected to create a balanced panel dataset. The study employs panel fixed-effects regression analysis to assess the impact of changes in market structure and ownership structure on performance variables including return on asset, profitability, costs, and non-performing loan ratios. Findings - Empirical findings highlight significant differences in the effects of market structure between state-owned and joint-stock banks. Notably, increased market competition positively correlates with higher profits for state-owned banks and with lower costs for joint-stock banks. Research implications or Originality - State-owned banks demonstrate larger scale and stability, yet they struggle to respond effectively to market shifts. Conversely, joint-stock banks face challenges in raising profitability against competitive pressures. Additionally, the study emphasizes the importance for Chinese banks to strengthen risk management due to the increase of non-performing loans with competition. The results provide insights into reform policies for Chinese banks regarding the involvement of private sector in the context of market liberalization process in China.

• 유통과학연구
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• 제11권7호
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• pp.5-13
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• 2013

Purpose - The study explores social well-being of the community of five selected countries of the South Asia: India, Pakistan, Sri Lanka, Nepal and Bangladesh. The study compares effectiveness of macroeconomic policies across the countries through interactive effects of the macroeconomic policy variables with the regional dummy variables. Research design, data, and methodology - Using the data set for the period of 1990-2008, this study employs panel data models, quantile regression methods, and the fixed effects method, which the constant is treated as group or country-specific. The model can also be known as the least-squares dummy variables estimator. Results - The results reveal significant chances of improvement in the well-being of the people while living in India and Pakistan as compared to the other countries of the region where India relatively stands with better chances of providing opportunities to improve the well-being of the people. Conclusions - This study recommends an increasing allocation of budget on education and health in order to enhance social well-being in the South Asian region. Inflation is the main cause of deteriorating well-being of the South Asian community by escalating the cost of living. Comprehensive study is recommended by employing the micro data models in the region.

• 통상정보연구
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• 제13권4호
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• pp.125-149
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• 2011

최근 가속화되고 있는 한국의 FTA 체결 및 발효 시점에서 기술격차가 있는 국가간의 FTA는 산업집적효과 등에 의한 동태적인 산업구조 재편 차원에서 기술열위국에 부정적인 효과가 있을 수 있는 만큼 본 연구의 목적은 우리나라의 FTA를 통한 기술무역에 대한 현황 및 전략적 대웅방안을 모색해 보는데 있다. 우리나라가 체결한 FTA, 즉, 한-칠레, 한-EFTA, 한-Asean, 한-인도, 한-EU 이렇게 5개 그룹으로 분류한 FTA발효국만을 대상으로 각각 5년간 기술무역 수지 및 산업별, 기술유형별 중심으로 기술무역수지를 살펴보기로 한다. 또한 이러한 5개 그룹 FTA국과의 기술무역 장애요인 및 기술무역 활성화방안을 모색하였다.

• The Journal of Asian Finance, Economics and Business
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• 제7권5호
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• pp.291-304
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• 2020

This paper examines the factors that drive temporal income diversification in rural areas of the Mekong River Delta in Vietnam, based on a framework that conceptualized diversification as a function of a household's capacity to diversify and incentives (both push and pull factors) to diversify. Drawing from five rounds of the Vietnam Living Standard Measurement Surveys covering a 13-year span (1993-2006), two panel datasets made from five cross-sectional samples are used for the analyses. The data are drawn from the Vietnam General Statistics Office. Both tobit model and Ordinary Least Squares model with random and fixed effects are applied. The main points emerging from the analysis is that income diversification is strongly influenced by household labor capacity. The relationship between household labor capacity and increasing insertion in non-farming wage activities is not driven by unobserved time-invariant factors such as household ability and motivation, but is instead driven by the higher labor capacity of households. In terms of the other household capacity variables, the effect of farm size is much larger in terms of retaining households in traditional occupations as compared to pushing them towards non-farm wage employment. Other variables such as household access to financial capital do not play an important role.