• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.475-487
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• 2020

The paper aims to facilitate a discussion around how big data technologies and data from citizens can be used to help public administration, society, and policy-making to improve community's lives. This paper discusses opportunities and challenges of big data strategies for government, society, and policy-making. It employs the presentation of numerous practical examples from different parts of the world, where public-service delivery has seen transformation and where initiatives have been taken forward that have revolutionized the way governments at different levels engage with the citizens, and how governments and civil society have adopted evidence-driven policy-making through innovative and efficient use of big data analytics. The examples include the governments of the United States, China, the United Kingdom, and India, and different levels of government agencies in the public services of fraud detection, financial market analysis, healthcare and public health, government oversight, education, crime fighting, environmental protection, energy exploration, agriculture, weather forecasting, and ecosystem management. The examples also include smart cities in Korea, China, Japan, India, Canada, Singapore, the United Kingdom, and the European Union. This paper makes some recommendations about how big data strategies transform the government and public services to become more citizen-centric, responsive, accountable and transparent.

• 아태비즈니스연구
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• 제14권4호
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• pp.319-330
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• 2023

Purpose - The purpose of this paper is to examine the connectedness between categorical economic policy uncertainty (monetary, fiscal, trade and foreign exchange policy uncertainty) indexes and option-implied volatility index in Korea, Japan and the US. Design/methodology/approach - This paper employs the Diebold-Ylmaz (2012) model based on a VAR and generalized forecast error variance decomposition. This paper also conducts regression analyses to investigate whether the volatility indexes are explained by categorical policy uncertainty indexes. Findings - First, we find the total connectedness is stronger in Korea and Japan relative to the US. Second, monetary, fiscal, and foreign exchange policy uncertainty indexes are connected to each other but trade policy uncertainty index is not. Third, the volatility index in Japan and the US is mainly associated with monetary policy uncertainty while the volatility index in Korea is explained by fiscal policy uncertainty index. Research implications or Originality - To our knowledge, this is the first study to investigate the connectedness among categorical policy uncertainty indexes and the volatility index in Korea, Japan, and the US. The empirical results on the connectedness suggest that transparent policy and communication with the market in one type of policy would reduce the uncertainty in other policies.

• East Asian Economic Review
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• 제22권3호
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• pp.337-370
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• 2018

This paper discusses the design of monetary policy in a New Keynesian small open economy framework by introducing nominal wage rigidities and incomplete exchange rate pass-through on import prices. Three main findings are summarized. First, with the existence of an incomplete exchange rate pass-through and nominal wage rigidities, the optimal policy is to seek to minimize the output gap, the variance of domestic price and wage inflation, as well as deviations from the law of one price. Second, the CPI inflation targeting Taylor rule is welfare enhancing when there is a technological shock to the economy. The exception occurs when there is a foreign income shock, which minimizes welfare losses under the domestic inflation targeting Taylor rule. Last, two stylized Taylor rules turn out to be a bad approximation, but the modified Taylor rules that respond to the unemployment gap rather than the output gap are a closer approximation to the optimal policy.

• East Asian Economic Review
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• 제18권3호
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• pp.301-335
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• 2014

In this paper, we consider a small open economy under the New Keynesian model with unemployment of Gal$\acute{i}$ (2011a, b) to discuss the design of the monetary policy. Our findings can be summarized in three parts. First, even with the existence of unemployment, the optimal policy is to minimize variance of domestic price inflation, wage inflation, and the output gap when both domestic price and wage are sticky. Second, stabilizing unemployment rate is important in reducing the welfare loss incurred by both technology and labor supply shocks. Therefore, introducing the unemployment rate as an another argument into the Taylor-rule type interest rate rule will be welfare-enhancing. Lastly, controlling CPI inflation is the best option when the policy is not allowed to respond to unemployment rate. Once the unemployment rate is controlled, however, stabilizing power of CPI inflation-based Taylor rule is diminished.

• ETRI Journal
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• 제31권2호
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• pp.215-224
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• 2009

Analyzing the diffusion of a convergence product is a new and challenging research field. It is very difficult to find research dealing with this issue due to the inherent complexity and lack of data. In analyzing the diffusion of a convergence product, we should simultaneously take into account its relationship with related single-function products because of their similarities in terms of technology and functionality. In this study, we empirically analyze the diffusion of the convergence mobile phones in South Korea and find that the convergence products can affect the diffusion of MP3 players and digital cameras positively or negatively. This research may be significant for business strategies in technology management and product development.

• 자원ㆍ환경경제연구
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• 제3권1호
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• pp.47-80
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• 1993

• ETRI Journal
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• 제30권3호
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• pp.469-479
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• 2008

This study analyzes factors affecting the competitiveness of broadband over power line communication (BPLC) and predicts demand for the service, based on quantitative information about consumer preferences drawn from a survey of Korean consumers. Findings from the estimation suggest that, although consumers value some beneficial features of BPLC, to be competitive the speed and stability of its data transmission needs to be improved. Moreover, on the basis of a market simulation, we expect BPLC to occupy only a small portion of Korea's Internet access market in the future, a finding we expect would hold true for other developed countries whose Internet access markets are already mature.

• The Journal of Asian Finance, Economics and Business
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• 제4권2호
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• pp.25-36
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• 2017

Subsidies are an instrumental policy making tool for many governments, but their importance depends on the market situation of the national economy. Efficient subsidy implementation would allow the government to correct market failure thereby aligning social and private costs and benefit. The general objective of this study is to justify the need to rationalise subsidies for food items such as flour. This study assessed the structure and conducts of the general purpose flour market in Malaysia; and analysed the impact of subsidies on market performance to recommend policies to increase market efficiency under the subsidy rationalisation program. To accomplish these objectives, the study adopted a microeconomics market analysis as well as the standard structure and performance analysis method. These two approaches showed the characteristics of an industry's consumer behaviour, competition, as well as the efficiency associated with government regulatory policies on the flour industry. One of the biggest influences on the domestic market is related to the food consumption behaviour of the general population. Food consumption behaviour reflects global trends. As income rises, food trends tend to be consumed in processed form or in such a way that adds value in another manner such as the preparation of food products.

• 대한가정학회지
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• 제40권9호
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• pp.79-95
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• 2002

In this paper the consumer protection regulations of 16 wide area self-governments in Korea are studied. Status of consumer protection policy committees and their general policies for consumer protection of these wide area self-governments are also investigated. The data of consumer protection regulation were collected from the internet web-site of each self-government and the status of consumer protection policy committee and the general policy for consumer protection were obtained by requesting each self-government to report administration information during May through October in 200l. 13 of 16 wide area self-governments except Daegu, Inchon, and Jejudo have own consumer protection regulations. Major parts of these regulations conform the standard regulation of ministry of Government Administration and Home Affairs. Many of the consumer protection policy committees reported that they do not have meetings constantly. Moreover since the price of goods and services is the typical subject of meetings, the committees do not seem to properly play the role of a consumer protection policy authority. Contents of the general policy for consumer protection of many self-governments are simple description of detailed practicing plans according to the general consumer protection policy of the national government. By criticizing the problems aroused during the study of consumer protection policy of self-governments, suggestions are given which will help for the development of consumer policy of wide area self-governments.

• The Journal of Asian Finance, Economics and Business
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• 제3권3호
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• pp.93-102
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• 2016

The aim of this study is theoretical and methodological justification of formation of a new policy of spatial development of Kazakhstan's economy, which is based on the principles of inclusiveness and smart specialization. Unlike previous research, the scientific significance of the obtained results consists in the conceptual justification of the basic theoretical concepts; spatial development, covering issues of concentration, specialization, and location of production. In this study, we used scientific methods: conceptual approach involves studying various concepts of spatial development on the principle of inclusive growth and smart specialization; economic analysis allows conducting a brief assessment of the economic status of regions for a certain period; structured approach involves to the formation of new policy of spatial development. Based on this research we conclude that most successful regions have formed based on principles of inclusiveness and smart specialization, which increases opportunities for well-functioning synergistic mechanism in the field of advanced technologies with subsequent access to global markets.