Youngjin Yun
Hanyang University · 経済学
研究室紹介
Professor Youngjin Yun's research lab specializes in international finance, macroprudential policy, and public debt dynamics, with a strong focus on capital flows, financial stability, and the transmission of global financial shocks. The lab investigates how monetary and macroprudential policies affect bank lending and international investment, particularly in emerging market economies like South Korea. It also examines the impact of government debt on foreign portfolio investment and the role of financial openness in shaping global and regional financial comovements. The research integrates advanced econometric methods, including dynamic factor models and instrumental variable approaches, to identify causal relationships in complex financial data.
Research Overview
Research Output Trend
Figures are computed from collected data and may differ slightly.
Selected Papers
15The purpose of this study is to investigate the dynamics of the Zacco platypus population among streams in the Gongjicheon water system, Korea from December 2010 to October 2011. In this study, fish fauna was collected 27 Species belonged to 9 Families. The legal protection species, such as a natural monument and endangered species was not collected. Korean endemic species was collected 6 species including to Z. koreanus. The ratio of Korean endemic species was 22.6%, and it was lower than 51.3%
Abstract Global banks play an important role in the international transmission of shocks by allocating funds across the world through their foreign affiliates. Using monthly data on individual foreign bank branches in Korea from 2004 to 2018, this paper investigates how global banks propagate shocks and examines the effect of one particular macroprudential measure that was introduced to reduce the volatility of cross‐border bank flows. I find that foreign bank branches actively adjust their borr
Abstract This study presents evidence of global and regional comovements in public debt and examines their trends and features. We employ a Bayesian dynamic factor model with time‐varying parameters based on the debt‐to‐GDP ratio of 115 countries. We find the global factor accounts for 38 percent of the total variation in the debt ratio worldwide, but its share decreases over time. Countries with more financial openness and a greater share of external public debt are more exposed to global/regio
This paper investigates pattern changes in international capital flows after the Global Financial Crisis using the Korean case. It follows capital flows of Korea during the last couple of decades to characterize three significant changes after the crisis. First, after the introduction of macroprudential policies, the bank external borrowing was curbed while the bank external lending started an increasing trend. Second, the resident’s outward portfolio investments outpaced foreign portfolio inves
본 연구는 국가부채가 외국인 증권투자자금의 유출입에 어떤 영향을 미치는지 알아보기 위하여 OECD 30개 국가의 1970~2015년 자료로 패널을 구축해 분석하였다. 인과관계 식별을 위해 국가부채와 경제성장에 관한 기존 문헌의 기초적인 분석틀을 차용하면서 GDP 대비 사회보장지출의 비율을 도구변수로 활용하였다. 사회보장지출은 국가부채와 밀접한 관련이 있지만 외국인 증권투자와는 직접적인 관련성이 없으므로 도구변수로서 적합하다. 따라서 사회보장지출이 많음에 따라 국가부채 수준이 높을 때 그렇지 않은 경우에 비해 향후 외국인 증권투자자금 유입이 체계적으로 다른지 비교함으로써 인과관계를 확인하였다. 분석결과 국가부채는 외국인 증권투자자금 유입을 줄이고 변동성은 확대시키는 것으로 나타났다. 다른 조건이 일정할 때, 국가부채비율이 1%p 더 높으면 향후 5년간 1인당 외국인 증권투자자금 유입액이 7% 가량 적어지고, 변동성은 2% 정도 더 커지는 것으로 나타났다. 본 연구는 국가부채가 외국인