• Korea Trade Review
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• v.41 no.2
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• pp.29-60
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• 2016

Research and Development(R&D) investment is an issue of central importance in any economy. In this paper we analyze the relationship between R&D spillovers and trade-related variables, using a two-stage model where duopolists simultaneously decide on R&D in the first stage and engage in Cournot competition in the second stage. We characterized and compared the free-trade and trade-restriction R&D equilibrium in a two-stage game of R&D investment followed by Cournot market competition. We also assessed the impact of varying the R&D spillover on the equilibrium outcomes and tariff. We showed for both free trade and protection cases that there exists a unique symmetric solution(subgame perfect Nash equilibrium). As the solution, while analytical, cannot be stated in closed form, we resorted to numerical experiments to investigate the equilibrium results. Our estimates indicate for both free trade and protection cases that the level of R&D investment and the rate of R&D expenditure decrease as the degree of R&D spillovers increases, and that there is an inverse relation between the degree of R&D spillovers and level of protection. The latter implies that the larger the degree of R&D spillovers, the lesser the level of protection.

• Journal of Korean Society of Rural Planning
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• v.30 no.2
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• pp.1-11
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• 2024

Farmland transaction prices are affected by various factors such as politics, society, and the economy. The purpose of this study is to identify multiple factors that affect the farmland transaction price due to changes in the actual transaction price of farmland by farmland unit from 2016 to 2020. There are several previous studies analyzed the determinants of farmland transaction prices by considering spatial dependency. However, in the case of land transactions where the time and space of the transaction affect simultaneously, if only spatial dependence is considered, there is a limitation in that it cannot reflect spatial dependence that occurs over time. In order to solve these limitations, To address these limitations, this study builds a spatio-temporal autoregressive model that simultaneously considers spatial and temporal dependencies using farmland transactions in Jinju City as an example. As a result of the analysis, it was confirmed that there was significant spatio-temporal dependence in farmland transactions within the previous 30 days. This means that if the previous farmland transaction was carried out at a high price, it has a spatio-temporal spillover effect that indirectly affects the increase in the price of other nearby farmland transactions. The study also found that various location attributes and socioeconomic attributes have a significant impact on farmland transaction prices. The spatio-temporal autoregressive model of farmland prices constructed in this study can be used to improve the prediction accuracy of farmland prices in the farmland transaction market in the future, and it is expected to be useful in drawing policy implications for stabilizing farmland prices

• Korean Journal of Agricultural Science
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• v.50 no.3
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• pp.581-591
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• 2023

Domestic processed food exports might increase due to the free trade agreement (FTA) and spread of the Korean Wave, Hallyu. However, the share of the domestic raw materials in the domestic processed food industry is very low at 31.4%, which limits the spillover effect on domestic agriculture. Therefore, we selected frozen dumplings as a representative processed food whose exports are growing rapidly and conducted a multiple regression analysis to examine the effects of Hallyu and FTA variables on the frozen dumpling exports. We tried to link them to an increase in agricultural income through the expansion of demand for the domestic raw materials. This study analyzed tariff indicator as the FTA variable, cosmetics export value indicator as the Hallyu Wave variable, and other variables expected to change the trade environment such as gross domestic product (GDP) and the relative exchange rate by country as the key explanatory variables that affect changes in the trade environment. The analysis showed that the core hypothesis, the Hallyu variable and the FTA variable, have a positive impact on frozen dumpling exports. Frozen dumpling exports are expected to increase as the FTAs and the spread of Hallyu are expected to continue for the foreseeable future. Therefore, we should seek ways to increase the proportion of domestically produced ingredients in the frozen dumplings to spread the economic impact to domestic agriculture. We reviewed previous studies and determined, the price-related factors play a major role in the use of imported ingredients, and that price stability and competitiveness are essential to increase the share of the domestically produced ingredients. Based on these conclusions, we reviewed the current status of food industry-related policies and determined measures needed to expand the use of domestically produced ingredients.

• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.125-151
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• 2004

This study tests the price discovery from US Treasury bond markets to Korean bond markets using the daily returns of Korean bond data (CD, 3-year T-note, 5-year T-note, 5-year corporate note) and US treasury bond markets (3-month T-bill, 5-year T-note 10-year T-bond) from July 1, 1998 to December 31, 2003. For further research, we divide full data into two sub-samples on the basis of the start-up of bond valuation system in Korean bond market July 1, 2000, employing uni-variate AR(1)-GARCH(1,1)-M model. The main results are as follows. First the volatility spillover effects from US Treasury bond markets (3-month T-bill, 5-year T-note, 10-year T-bond) to Korean Treasury and Corporate bond markets (CD, 3-year T-note, 5-year T-note, 5-year corporate note) are significantly found at 1% confidence level. Second, the price discovery function from US bond markets to Korean bond markets in the sub-data of the pre-bond valuation system exists much stronger and more persistent than those of the post-bond valuation system. In particular, the role of 10-year T-bond compared with 3-month T-bill and 5-year T-note is outstanding. We imply these findings result from the international capital market integration which is accelerated by the broad opening of Korean capital market after 1997 Korean currency crisis and the development of telecommunication skill. In addition, these results are meaningful for bond investors who are in charge of capital asset pricing valuation, risk management, and international portfolio management.

• International Area Studies Review
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• v.21 no.4
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• pp.41-63
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• 2017

FDI can either be absorbed in the production cycle with domestic investment and create an inducement effect or it can remain as an exogenous factor and increase the volatility of GDP. The purpose of this paper is to research these different impacts that FDI could have. For that, the endogenous growth theory was employed. The statistic method used are the panel model for sectoral analysis, and GARCH model and VAR for time series analysis. Myanmar was selected as this paper's research subject because it is one of countries which had a colossal amount of FDI inflow recently. The panel analysis did not confirm the causality between sectoral FDI and sectoral GDP. The reason for this could be in the lack of data, since sectoral data exists yearly only during 2006-2016. Therefore this study conducted the times series analysis. According to the results, during 2006 until 2010, it showed signs of GARCH but the effect of FDI on GDP was nonexistent, which means FDI was not integrated into the domestic production cycle but stayed in residual terms. During 2011 to 2016, FDI seemed to affect the growth of Myanmar's GDP. The estimation confirmed the existence of GARCH and the Granzer causality test confirmed that FDI influenced the GARCH, which signified FDI increased the volatility of GDP. The VAR analysis showed responses of GDP to FDI was small(about 0.0007). This research assumes that FDI can be divided in two parts: one part which can be assimilated in the domestic production cycle and the other where it stays outside of the production cycle. The former creates production inducement effect and the latter only increases the volatility of GDP. According to this study, the latter outweighs the former impact in Myanmar.

• Journal of Korea Society of Industrial Information Systems
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• v.22 no.3
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• pp.77-94
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• 2017

This Paper is the Thesis that Reports Empirical Results on the Effect of Maintaining Behavior of Native Culture on the Job Attitude of Immigrant Labor and the Mediating Effect of Psychological Well-being. In order to Accomplishment this Goal, an Empirical Study was Implemented. The Data for an Empirical Study was Obtained from the Survey on 205 Immigrant Labor from Vietnam in Busan and Gyeongsangnam-do. And Multiple Regression Analysis was Conducted to Examine the Research Hypothesis. The Summary of Empirical Study's Results is Follows. 1) Among Maintaining Behavior of Native Culture, Native Culture-related Media Behavior, Meeting with Native Companions and Persistence of Native Religious Activity have the Positive Effect on the Job Attitude Significantly. 2) Eating Native Food have the Negative Effect on the Job Satisfaction Significantly. 3) There are Mediating Effects of Psychological Well-being on the Relationship Between the Maintaining Behavior of Native Culture and Job Attitudes. Maintaining Behavior of Native Culture has Significant Positive Effect on Job Involvement and Job Satisfaction Indirectly Via Mechanisms Such as the Spillover Effect of Psychological Well-being. That is, The more Immigrant Workers do Maintaining Behavior of Native Culture, the Higher Psychological Well-being is and it Improves Their Job Involvement and Job Satisfaction. The Implication of these Results, the Limitation of this Study and the Direction of Future Study were Suggested.

• Journal of Technology Innovation
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• v.24 no.4
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• pp.127-158
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• 2016

Multinational corporations' overseas R&D activities bring host countries positive effects such as knowledge spillover, technology transfer, job creation and etc. For this reason, many countries have made efforts to attract foreign firms' R&D investment in their national territories. Korean government have also implemented some policy measures to expedite foreign firms operating in Korea to increase R&D activities. However, the firms' R&D investment in Korea has still been unsatisfactory, and only few studies have examined this issue. Therefore, this study attempts to explain the R&D investment of foreign firms operating in Kore, from the perspective Dunning's eclectic paradigm. Utilizing linear regression and Tobit model, this study analyzes the influence of OLI advantages on R&D intensity of foreign firms in Korea. The result shows that locational advantages of Korea (such as revealed technological advantage) had positive influences on foreign firms' R&D intensity. However, the influence of other OLI advantages were different by foreign firms' nationalities. For instance, internalization advantages had influences on R&D intensity, but the directions were different between Japanese and other nationalities. Based on the results, we provided some discussion and attempted to draw implications for Korean government's FDI and R&D policy.

• Health Policy and Management
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• v.16 no.2
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• pp.49-76
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• 2006

The aim of this study was to explore the effects of a computerized review program which was introduced in August 1, 2003, using claims data for acute respiratory infection related diseases. National Health Insurance (NHI) claims data on respiratory infection related diseases before and after the introduction, with six month intervals respectively, were used for the analysis. Clinic was the unit of observation, and clinics with only one physician whose specialty was internal medicine, pediatrics, otorhinolaryngology and family medicine and clinics with a general practitioner were selected. The final sample had 7,637 clinics in total. Indices used to measure practice pattern was prescription rates of antibiotics, prescription rates of injection drug per visit, treatment costs per claim, and total costs per claim. Changes in the number of claims for major disease categories and upcoding index for disease categories were used to measure claiming behavior. Data were analysed using descriptive analysis, t-test for indices changes before and after the introduction, analysis of variance (ANOVA) for practice pattern change for major disease categories, and multiple regression analysis to identify whether new system influenced on provider' practice patterns or not. Prescription of antibiotics, prescription rates of injection drug, treatment costs per claim, and total costs per claim decreased significantly. Results from multiple regression analysis showed that a computerized review system had effects on all the indices measuring behavior. Introduction of the new system had the spillover effects on the provider's behavior in the related disease categories in addition to the effects in the target diseases, but the magnitude of the effects were bigger among the target diseases. Rates of claims for computerized review over total claims for respiratory diseases significantly decreased after the introduction of a computerized review system and rates of claims for non target diseases increased, which was also statistically significant. Distribution of the number of claims by disease categories after the introduction of a computerized review system changed so as to increase the costs per claims. Analysis of upcoding index showed index for 'other acute lower respiratory infection (J20-22)', which was included in the review target, decreased and 'otitis media (H65, H66)', which was not included in the review target, increase. Factors affecting provider's practice patterns should be taken into consideration when policies on claims review method and behavior changes. It is critical to include strategies to decrease the variations among providers.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.6
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• pp.145-154
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• 2017

Technology innovation is regarded as the quintessential process to acquire a competitive advantage. This is especially true in high-tech industries, and firms that recognize the importance of technological innovation concentrate their capacities on developing new technologies, new products, and new processes. In general, such research requires many resources, but not all technological breakthroughs are followed by positive feedbacks. Consequently, the firms in high-tech industries are compelled to find new directions in acquiring technologies. This study examines the factors that influence technological innovation and empirically tests the effect these factors have on its diffusion. Radicality, discontinuity, and exploitation/exploration were selected as the factors from the previous literature on technological innovation and organizational learning. For the empirical test, patent data from the US semiconductor industry were used to describe innovation activities from various fields. From the result, these three factors (Ed- is this what you mean, i.e., radicality, discontinuity, and exploitation/exploration?)were found to have significant meaning as proxies for the diffusion of technological innovation.

• Analytical Science and Technology
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• v.29 no.2
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• pp.65-72
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• 2016

This study presented an analytical method for detecting radium in soils using a liquid scintillation counter (LSC). The isotope ²²⁶Ra was extracted from soil using the fusion method and then separated from interfering radionuclides using the precipitation method. Radium was coprecipitated as sulfate salts with barium (Ba) and then converted into Ba(Ra)CO₃, which is soluble in an acidic solution. The isotope ²²²Rn, the decay progeny of ²²⁶Ra, was trapped in a water immiscible cocktail and analyzed by LSC. The pulse shape analysis (PSA) level was estimated using ⁹⁰Sr and ²²⁶Ra standard solutions. The figure of merit was the highest at PSA 80, while the alpha spillover was the lowest at PSA 80. The counting efficiency was 243 ± 2% in a glass vial. This analytical method was verified with International Atomic Energy Agency (IAEA) reference materials, including IAEA-312, IAEA-314, and IAEA-315. The recovery ranged from 60–82%, while the relative bias between the measured value and the recommended value was less than 10%. The minimum detectable activity was 2.1 Bq kg⁻¹ with dry mass 1 g, the background count rate of 0.02 cpm, the recovery rate of 70% and counting time of 30 min.