• The Journal of Fisheries Business Administration
• /
• v.49 no.2
• /
• pp.21-35
• /
• 2018

Squid is a popular seafood in Korea. However, since the 2000s, the squid production has been declining. The unstable supply of the squid products may cause price fluctuations of fresh and chilled squid. These price fluctuations may be relatively more severe than them of other commodities, because the fresh and chilled squid can not be stored for a long period of time. Thus, this study analyzes the structural characteristics of price volatility and price asymmetry of fresh squid based on off-diagonal GARCH model. Data used to analysis of this study are daily wholesale and retail prices of fresh squid from January 1, 2006 to December 31, 2016 provided in the KAMIS. As theoretical approaches of this study, first of all, the stability of the time series is confirmed by the unit root test. Secondly, the causality between distribution channels is checked by the Granger causality test. Thirdly, the VAR model and the off-diagonal GARCH model are adopted to estimate asymmetry effect and price volatility spillover between distribution channels. Finally, the stability of the model is confirmed by multivariate Q-statistic and ARCH-LM test. In conclusion, fresh squid is found to have shock and volatility spillover between wholesale and retail prices as well as its own price. Also, volatility asymmetry effect is shown in own wholesale or retail price of fresh squid. Finally, this study shows that the decrease in the fresh squid retail price of t-1 period than the increase in the t-1 period has a greater impact on the volatility of the fresh squid wholesale price in t period.

• Journal of Korea Trade
• /
• v.27 no.5
• /
• pp.137-152
• /
• 2023

Purpose - Although many existing studies on the US-China hegemonic conflict and decoupling have been published, most of them are qualitative and use descriptive analysis methods. Papers that quantitatively analyzed decoupling mainly estimate the effect of a tariff increase. However, this paper quantitatively analyzed the ripple effect by focusing on decoupling technology spillover between the United States and China. And, for the first time, it was suggested that the blocking of technology spillover could give a fatal blow to the East Asian economy as well as China. Design/methodology - The United States is pursuing decoupling with China, primarily in goods trade and blocking technology transfer. This paper sets up various scenarios and uses three computational general equilibrium (CGE) models to analyze the overall ripple effects of decoupling. A paper using the three CGE models for decoupling ripple effect analysis has not yet been published. Findings - Decoupling will hit the economies of regions with close economic ties to China more than others. According to simulation results of this study, the Chinese economy may suffer severe damage that is difficult to recover from, and the economies of Asian countries are predicted to deteriorate to the point of being choked. Originality/value - Existing papers that assessed the effect of decoupling mostly focus on estimating the effect itself through tariff hikes. This paper is meaningful in that it comprehensively analyzed decoupling by adding the effect of technology spillover blockade. In addition, another meaning can be found in that it quantified for the first time that it will deal a huge blow to the extent of choking the East Asian economy as well as China.

• The Journal of Asian Finance, Economics and Business
• /
• v.5 no.2
• /
• pp.15-24
• /
• 2018

The study examines the magnitude of economic spillover and the impact of foreign direct investment (FDI) inflows on the efficiency of the bank industry in China. This study employs unit root tests, cointegration tests and cointegrating regression analysis, including fully modified ordinary least squares (FMOLS), canonical cointegrating regression (CCR) and dynamic OLS (DOLS) to test the proposed hypotheses. The sample is restricted to the period of time in which monthly data is available and comparable among variables for the period from January 2002 to October 2013 (142 observations). All of the time series data was collected and retrieved from the People's Bank of China, China Monthly Statistics from the National Bureau of Statistics of China, and International Financial Statistics database from International Monetary Fund. The results of the Johansen cointegration test suggest that there is a long-run equilibrium relationship between FDI inflows, foreign exchange rate and banks performance in China. The results of cointegrating regression analysis using FMOLS, CCR and DOLS suggest that M2 supply and FDI inflows are significant at the 0.01 level. The results confirm that FDI inflows in the banking sector are positively related to the increase of banks productivity and performance and short-term loans in China. However, the results suggest that Chinese Yuan currency exchange rate to U.S. dollar is not significant in the banking and financial industry of China.

• Journal of the military operations research society of Korea
• /
• v.32 no.2
• /
• pp.143-164
• /
• 2006

This paper considers the technology spillover effects on industries by analyzing patents. Registered patents in the United States from Korea in 1990 and 1995 are compared by quantity of registrations as well as patent analysis indices, namely, cites per patent, technology cycle time and science linkage. Several regression models between these indices as predictor variables and the value added of an industry as a dependent variable were investigated. The results show that the value added of an industry positively correlates to the number of patent registrations and cites per patent.

• Journal of Hydrogen and New Energy
• /
• v.20 no.4
• /
• pp.331-336
• /
• 2009

수소가 Pt/$MoO_3$로 흡장되는 현상을 XRD, TEM, CO 화학흡착 분석방법을 사용하여 조사하였다. 소성과정은 Pt/$MoO_3$ 촉매의 Chlorine 함유량을 감소하며 박막을 형성하였다. 소성전과 비교하여 수소 흡장량은 소성 후에 증가하였다. Orthorhombic Pt/$MoO_3$은 Hexagonal Pt/$MoO_3$보다 항상 수소 흡장량이 증가하였다. 상대적으로 Hexagonal Pt/$MoO_3$에서 수소 흡장량이 감소하는 이유는 Hexagonal 결정격자 내에 존재하는 $NH_4^+$ 이온에 기인하는 것으로 판단된다. 결정격자 내부로의 수소 침투시 암모니움 이온이 수소내부 기공에 장애물 역할을 하므로, 수소 흡장량이 감소하는 것으로 판단된다.

• Journal of Korean Society of Forest Science
• /
• v.103 no.4
• /
• pp.630-638
• /
• 2014

This paper explores the economic spillover effects of forest therapy projects of Korea Forest Service, using the 2011 Input-Output Tables of Bank of Korea. We consider total expenditures on the construction of 20 forest therapy bases and Baekdudaegan Forest Therapy Base, and operation of 3 forest therapy bases. During the 8 years of 2010-2017, we find that these forest therapy projects generate 698 billion wons of production, 456 billion wons of value-added, and 8,176 new jobs.

• The Journal of Asian Finance, Economics and Business
• /
• v.4 no.4
• /
• pp.27-37
• /
• 2017

This study examines the behaviour of staple food price using Multivariate BEKK-GARCH Model. Understanding of staple food price behaviour is important for determining the unpredictability of staple food market and also for policy making. In this paper, we focus on the commodity prices of sugar, rice, soybean and wheat to examine the volatility behaviour of those commodities. The empirical results show that the own-volatility spillover are relatively significant for all food prices. The own-volatility spillover effect for sugar price is relatively large compared with the volatility spillover of other staple food commodities. The findings also highlight that the price volatility of wheat increases during food crisis more than it does when the condition is stable. Also, the own-volatility of rice and wheat in the period of the food crisis is significant and higher compared to the period before food crisis indicates that the past own-volatility effects during food crisis are relatively more difficult to predict because of the uncertainty and high price volatility. Policy recommendations that can be proposed based on the findings are: (1) a better trade agreement in food commodity trade, (2) lower the dependence on wheat importation in Indonesia, and (3) reliable system to minimize food price volatility risks.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.5 no.1
• /
• pp.34-37
• /
• 2004

Effect of $H_2$ spillover rate as functon of calcination temperature on reaction kinetics was evaluated. Reaction kinetics including yield, conversion and selectivity of 1-butene isomerization over $Pt/HxMoO_3/SiO_2$ were measured as reaction temperature was increased. While conversion of 1-butane was decreased, yield of iso-butene was increased. Two kinds of reaction mechanism were proposed from the change of selectivity as function of temperature.

• Journal of Distribution Science
• /
• v.17 no.1
• /
• pp.11-19
• /
• 2019

Purpose - We document the impact of economic policy uncertainty (EPU) in the US and China on the dynamic spillover effect of macroeconomics such as stock price, housing price in Korea. Research design, data, and methodology - We use the nine variables to analyze the effect which produces a result among the EPU indexes of the US and China on economic variables which is the consumer price index (CPI), housing purchase price composite index, housing lease price, the stock price index in banking industry, construction industry and distribution industry, and composite leading indicator from January 1995 to December 2016 with the Vector Error Correction Model. Result - The US EPU index has significantly a negative relation on the CPI, housing purchase price index, housing lease price index, the stock price index in banking industry, construction industry, and distribution industry in Korea. Conclusions - We find the dynamic effect of the EPU indexes in the US and China on the macroeconomics returns in Korea. This study has an empirical evidence that the economy market in Korea is influenced by the EPU index of the US rather than it of China. The higher EPU, the more risky the economy of in Korea.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.1
• /
• pp.655-663
• /
• 2021

This paper aims to develop a conceptual framework for determinants of spillover effects of FDI on technology innovation of Vietnamese enterprises. The research proposes a logistic regression model for assessing how enterprises' ability to implement technological innovation is affected by the presence of FDI enterprises as well as other factors that show the change through the indirect influence of FDI such as the size of the enterprise, the type of enterprise, and the skill level of the labor force or its research and development activities. Five forms of technology innovation are considered: improving production process; product quality improvement; product expansion; expanding business activities into a new field of production; and changing business activities into a new field of production. General Statistics Office of Vietnam provided survey data to collect information from 3,166 enterprises in the manufacturing and processing industry in Hanoi, which were valid for analysis. The results show that all variables of enterprise type, size, R&D, and industry have a positive impact on the selection of one of the innovation forms. Several recommendations are further suggested to take advantage of the positive effects and minimizing the negative effects of FDI for technological innovation of Vietnamese enterprises.