• Journal of Korea Trade
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• v.23 no.5
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• pp.129-144
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• 2019

Purpose - Recent empirical studies have reached mixed results on the effects of financial liberalization and currency crises. We argue that this relationship is likely to depend both on whether controls are primarily on the degrees of financial liberalization and on the stability of the government. Using the disaggregated data on financial liberalization recently developed by Abiad et al (2010) for a sample of 30 emerging countries over the period 1995-2015, we attempt to investigate the political economy determinants of currency crises. Design/methodology - Our empirical model considers the relationship between financial liberalization and currency crises for emerging market economies. This study employs the existing theoretical framework to identify the disaggregate level for financial liberalization across countries. Using a multivariate logit model, this study attempts to estimate the interrelationship among financial liberalization, government stability and currency crises complemented by a case study of South Korea. Findings - Our main findings can be summarized as follows: we find strong support for the proposition that more liberalized financial institutions are positively associated with the probability of currency crises especially under less stable governments, but reduce the risks of currency crises especially for more stable governments. We also examine the role of financial systems with the case of South Korea after Asian financial crises and the results are further supported and consistent with the empirical findings. Originality/value - Existing studies focus on the economic factors across countries. This paper instead attempts to evaluate the effects of financial liberalization and currency crises by incorporating political considerations with newly developed dataset on financial liberalization, which are essential to the understanding of the causes of currency crises.

• Management & Information Systems Review
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• v.37 no.2
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• pp.209-233
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• 2018

This study investigates the question of how political and economic factors may affect the export of renewable energy technologies. The relationships are tested using panel data for 19 OECD member countries over the period 1992-2012. Before establishing the empirical model, the current study checks the characteristics of the panel data, which includes various panel framework analyses, such as tests for the presence of normality, structural breaks, first-order autocorrelation, heteroscedasticity, cross-sectional dependence, panel unit-root. From the panel framework analyses, a dynamic panel model is established to test the relationship between the variables examined in this study. In order to reduce the bias of the estimation of the dynamic panel model and obtain efficient parameters, this study uses the bias-corrected least square dummy variable(LSDVC) estimator to estimate the empirical model. The results of this study show that governmental policies expressed as coercive pressure and market size positively affect the export growth of renewable energy technologies. However, public pressure and traditional energy industry have no significant effects on export performance. Policy implications are presented based on the results of this study.

• Journal of Korea Trade
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• v.24 no.3
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• pp.20-36
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• 2020

Purpose - As the global product network expands through both internationalization and diversification of the multimodal transportation system, corporate strategies have shifted to emphasize the importance of a high value-added international logistics system. To guide policies and strategies to attract relevant industries, this study aims to analyze the location competitiveness of regional logistics distribution center to serve Northeast Asia. Design/methodology - Multi-criteria techniques are considered to offer a promising framework for evaluating decision-making factors. This paper employed an analytic hierarchy process to analyze the hierarchal structure of determinants for selecting the location of a regional logistics distribution center. Adopting both qualitative and quantitative evaluations, this study suggest political implications for a regional logistics distribution center development, such as the direction of political support, service differentiation and infrastructure development. Findings - This study developed a location competitiveness evaluation model, based on the case study of the major port-cities in Northeast Asia. Evaluation model incorporates five factors underpinning 17 components extracted using factor analysis. The results revealed that the logistics factor is the most significant factor for evaluating the competitiveness of a regional logistics distribution center. The remaining factors were market, costs, and services environment. Comparing qualitative and quantitative evaluations, results provide useful insights for a regional logistics distribution center development in Northeast Asia. Originality/value - This study revealed differences between qualitative and quantitative evaluations. The finding implies that prior works on evaluation models of competitiveness has not successfully measured the gap between quantitative data and expert' evaluations. To overcome this limitation, this paper considered both actual data such as actual distance, cost, the number of companies located, and expert opinions.

• The Korean Journal of Air & Space Law and Policy
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• v.31 no.2
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• pp.237-269
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• 2016

Asia-Pacific Space Cooperation Organization (APSCO) is the only intergovernmental space cooperation organization in Asia. Since its establishment to date, eight countries have signed the convention and become member states. South Korea participated actively in the preparatory phase of creating the organization, and one conference organized by AP-MCSTA which is the predecessor of APSCO was held in South Korea. However, after the APSCO Convention was opened for signature in 2005 to date, South Korea does not ratify the Convention and become a member. The rapid development of space commercialization and privatization, as well as the fastest growing commercial space market in Asia, provides opportunities for Asian countries to cooperate with each other in relevant space fields. And to participate in the existing cooperation framework (e.g., the APSCO) by the Asian space countries (e.g., South Korea) could be a proper choice. Even if the essential cooperation in particular space fields is challenging, joint space programs among different Asian countries for dealing with the common events can be initiated at the first steps. Since APSCO has learned the successful legal arrangements from ESA, the legal measures established by its Convention are believed to be qualified to ensure the achievement of benefits of different member states. For example, the regulation of the "fair return" principle confirms that the return of interests from the relevant programs is in proportion to the member's investment in the programs. Moreover, the distinguish of basic and optional activities intends to authorize the freedom of the members to choose programs to participate. And for the voting procedure, the acceptance of the "consensus" by the Council is in favor of protecting the member's interest when making decisions. However, political factors that are potential to block the participation of South Korea in APSCO are difficult to be ignored. A recent event is an announcement of deploying THAAD by South Korea, which causes tension between South Korea and China. The cooperation between these two states in space activities will be influenced. A long-standing barrier is that China acts as a non-member of the main international export control mechanism, i.e., the MTCR. The U.S takes this fact as the main reason to prevent South Korea to cooperate with China in developing space programs. Although the political factors that will block the participation of South Korea in APSCO are not easy to removed shortly, legal measures can be taken to reduce the political influence. More specifically, APSCO is recommended to ensure the achievement of commercial interests of different cooperation programs by regulating precisely the implementation of the "fair return" principle. Furthermore, APSCO is also suggested to contribute to managing the common regional events by sharing satellite data. And it is anticipated that these measures can effectively response the requirements of the rapid development of space commercialization and the increasing common needs of Asia, thereby to provide a platform for the further cooperation. In addition, in order to directly reduce the political influence, two legal measures are necessary to be taken: Firstly, to clarify the rights and responsibilities of the host state (i.e., China) as providing assistance, coordination and services to the management of the Organization to release the worries of the other member states that the host state will control the Organization's activities. And secondly, to illustrate that the cooperation in APSCO is for the non-military purpose (a narrow sense of "peaceful purpose") to reduce the political concerns. Regional cooperation in Asia regarding space affairs is considered to be a general trend in the future, so if the participation of South Korea in APSCO can be finally proved to be feasible, there will be an opportunity to discuss the creation of a comprehensive institutionalized framework for space cooperation in Asia.

• The Korean Journal of Applied Statistics
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• v.21 no.5
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• pp.727-738
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• 2008

If a cointegrating relation is affected by important economic and political events occurred in the sample period, the assumption of the time-invariant cointegrating vector is violated, which leads to the misrep-resentation of the actual relations between the variables. From such a viewpoint, this study utilizes the recursive estimation process in testing for the stability of the long-run equilibrium of the domestic stock market system and then attempts to develop the framework for stabilizing time-variant cointegraing relations by introducing the dummy variables where the structural changes are found to exist.

• Journal of Technology Innovation
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• v.13 no.2
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• pp.133-155
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• 2005

After the publication of the competitive advantage of nations by Porter in 1990, the competitiveness of regional concentrations of industries has been often explained by the cluster concept. There are many definitions of clusters, but they mainly boil down to a geographically proximate group of interconnected companies and associated institutions in a particular field, linked by commonalities and complementarities. The shipbuilding industry in Korea can for sure be regarded as a competitive industry, as the spectacular rise of its world market share from 2% in the early 1970s to the current 38% impressively testifies, but can it be considered a cluster? Based on an analytical framework consisting of a typology of clusters and a context-sensitive evolutionary approach, the paper will show that over the last thirty years Korea's shipbuilding developed from a mere number of isolated, large shipyards (cathedrals in the desert) established by large conglomerates (chaebol) in close collaboration with the central government into an innovative cluster. The cluster is on the one hand characterised by a strongly developed supply industry and specialised universities and research institutes, but on the other hand by a weak, yet increasing role for local and regional institutions The specific and context-dependent characteristics of this innovative cluster are more important explanations for its competitiveness than the financial interventions by the central government, which are repeatedly put forward by European policy-makers in their trade war with Korea.

• Journal of Distribution Science
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• v.7 no.4
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• pp.37-45
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• 2009

As part of the government's efforts to stabilize the people's livelihood in response to the economic downturn arising from the global financial crisis, this research focuses on a more efficient and appropriate political operation of gift certificate issuance (Onnuri, Hope Labor, regional gift certificates) to support the socially disadvantaged class and increase the income of less affluent regions to stimulate local economy through employment opportunities. This study extends beyond a short-term solution for distributors in traditional markets to provide a framework to improve regional competitiveness.

• Journal of Contemporary Eastern Asia
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• v.20 no.2
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• pp.259-277
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• 2021

This article investigates the geopolitics of the energy transition era, concentrating on China's solar photovoltaic (PV) industry. Authors have noted that the rise of renewables is changing the geopolitical landscape of world energy systems, but these new energy sources carry their own technical characteristics and geopolitical implications. Bearing this in mind, this research answers the questions: What are the structural factors that facilitate China's use of renewable energy to achieve political goals, and what are their implications? In order to analyze the data, I devise an analytical framework based on the energy statecraft literature and contrast rival explanations, particularly the "prosumer theory" and the premise of less geopolitical interdependence in a renewable-centered world. I show that asymmetric interdependence in the solar PV sector is already a reality. China's solar PV industry is a case that suffices all conditions (centrality in industrial capacity, market share, and companies' compliance, but to a lesser extent in critical materials and technological endowments) in the solar PV sector to devise effective strategies aimed at reaping benefits out of its asymmetric interdependence with the rest of the world.

• Journal of Korea Technology Innovation Society
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• v.14 no.spc
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• pp.1073-1095
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• 2011

Recently, technology intelligence (TI) activities that support technological and/or market innovation have been important for many organizations to develop their competitiveness in trend of strengthening innovation-led economy. It is required to thorough understanding of TI-related activities and investigating methodology that can support these activities to facilitate technology opportunity exploration activities and increase the possibility of innovation. Thus, this research aims at first, investigating the taxonomy of objectives, information and methodology for technology opportunity development (TOD) through literature survey, second, deriving the TOD needs and current status analysis by conducting interview with various domestic firms, and finally, proposing an integrated framework of TI by synthesizing the results of the aforementioned investigation. Therefore, this research can suggest the strategic and political implications on TOD activities and moreover, propose a theoretical foundation to develop a supporting system for TI.

• Journal of the Korean association of regional geographers
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• v.12 no.4
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• pp.475-495
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• 2006

This paper is to analyse a changing space of energy flows in Northeast Asia from geopolitical and geoeconomic perspectives that have been recently promoted for energy security of countries in this region. The research is based on an analytical framework in an integration of political ecology and political economy. Because of an ever-increasing input of energy resources for economic growth and of dramatically increasing price of crude oil and recent instability of oil market, South Korea, China and Japan have been deeply concerned with energy security and conducted very actively geopolitical strategies. And hence the space of energy flows in the region is now in a process of dynamic reconfiguration, in which the project for development of oil and natural gas fields in East Siberia and construction of pipelines to transport them can be seen as one of competitive issues among these countries. In spite of worrying about stagflation due to rapid increase of oil price, such geo-strategies for energy security and reconfiguration of space of energy flows seem to keep the accumulation of capital in this region continue with generation of huge privatized oil companies.