• Journal of Technology Innovation
• /
• v.25 no.1
• /
• pp.61-89
• /
• 2017

This study aims to estimate empirically the respective impacts of R&D expenditure, R&D labor, overseas direct investment, commodity trade balance, and technology trade openness on technology balance of payments. To examine the presence of co-integration between them, this paper employed the ARDL-bounds test using time series data from 1981 to 2014, and the result shows that there is a stable long-run equilibrium relationship among them. Furthermore, we estimated long- and short-run coefficients of the technology balance of payments with respect to each variables based on long-run equilibrium equation and error correction model. As a result, the technology balance of payments respond negatively to R&D labor and technology trade openness, and R&D expenditure does produce positive effects in the long-run, while coefficients of overseas direct investment and commodity trade balance in the long-run are not statistically significant. Besides, according to results of error correction model, overseas direct investment only has clearly a positive effects in the short-run, in contrast, the short-term relationships between the other variables and the technology balance of payments could not definitively derived. This implies that it is necessary to procure and cultivate talented personnel, as well as to enlarge gradually technology trade size in order to improve technology balance of payments from a long-term point of view.

• Environmental and Resource Economics Review
• /
• v.30 no.3
• /
• pp.395-433
• /
• 2021

This paper aims to examine the effects of homeownership and residential types on the economic values of urban green spaces. Green open spaces as public goods provide positive externalities that are comprised of pecuniary and technological externalities. Seoul, South Korea, is used as a case study using choice experiments, with split-sample online respondents of 1,000. The study results evidenced that the differentiation between the two types of externalities is imperative for equitable provisions and efficient management of various urban open spaces. There is a positively significant and substantial impact of homeownership for apartment dwellers, ceteris paribus, but not for house dwellers. For apartments, the efficiency loss can be reduced by increasing green spaces up to the critical point where the marginal cost is at equilibrium with tenants' marginal values. For non-apartment houses, it is not homeownership but the monthly household income that has a significant impact on the amenity value. In general, public benefits from green spaces are equivalent to 16% to 33% of the current residential prices on average for a view or access. Different residential types do not cause a significant impact on the access values. Residential profiles for green spaces were developed, together with tailor-made policy suggestions.