마재신 교수

This paper reveals the determinants of FDI flows into Indonesia and Singapore. The empirical evidence based on the small sample cointegration test shows that, in case of Singapore, market size appears to influence FDI inflows positively and significantly, while production factor costs are revealed not to influence those. For Indonesia, neither market size nor wage is revealed to be significant, while interest rate is revealed to have a positive and statistically significant effect on those. This

This paper tests whether globalization or technical progress caused deterioration of income inequality in Korea during the period 1982-2010. The former comprises international trade and FDI inflows and the latter is expressed by the number of patents. The small sample cointegration test shows that there is mixed evidence on the long run equilibrium relationship among the variables concerned. The OLS and the error correction model estimation results show that neither international trade nor FDI i

This paper examines whether or not one of the export incentives, i.e. export insurance, provided by the Korean government has promoted the export supply of Korea. The role of transaction cost in administering the export insurance system is considered in the current analysis. The small sample cointegration tests show that the concerned variables are not cointegrated. The empirical evidence using the first differenced data shows that the provision of export incentives in terms of export insurance

The current study examines the effect of foreign direct investment (FDI) inflows on the economic growth of China and tests the absorptive capacity hypothesis stating that FDI inflows are more beneficial to economic growth in a country with the capacity to absorb FDI inflows. Absorptive capacity is measured by the trade dependence ratio and education level. The study uses time series data. There is mixed evidence regarding the effect of FDI inflows per se on economic growth. Although neither trad

본 연구는 무역보험이 수출증진에 기여하는지에 대해 우리나라의 1992-2019년 자료를 이용하여 분석하며, 이를 위해 탄력성 접근에 근거한 수출공급함수를 이용한다. 본 연구는 무역보험의 여러 유형들중 가장 큰 비중을 차지하는 수출보험에 초점을 맞추며, 기간별 차이의 가능성에 주목하여 단기와중장기수출보험의 인수율이 각각 수출공급에 영향을 주었는지를 점검하고, 국내수요압력가설을 검증한다. 변수들은 0차 혹은 1차 적분된 것으로 나타나, ARDL분산한계검정방식을 이용한 공적분검정을 행했으며, 그 결과 관련변수들 간의 공적분 관계는 존재하지 않는 것으로 나타났다. 안정적 변수로변형시킨 변수들에 대해 회귀분석을 시행한 결과, 수출상대가격은 통계적으로 유의미한, 예상된 결과를 보였으나, 기간과 무관하게 수출보험인수율 변화는 수출/GNI 비율에 유의미한 영향을 주지 않았으며, 국내수요압력가설은 지지되지 않았다.

Purpose – The purpose of this research is to investigate whether Korea’s economic growth can be explained by the endogenous growth theory. Specifically, we test whether R&D expenditure has a positive and significant effect on the economic growth. Research design, data, and methodology – We hypothesize that R&D expenditure has a positive effect on the economic growth after adding control variables in the growth equation. Korean annual data from 1963 to 2011 from Science and Technology Annual of t

미국은 다양한 비관세장벽 수단들을 이용하고 있다. 반덤핑관세와 상계관세는 미국이 다른 국가들에 비해 현저하게 빈번히 사용하는, 특징적인 비관세장벽이다. 본 연구는 미국 비관세장벽의 주요 수단인 반덤핑관세와 상계관세의 대내외 거시경제적 결정요인들을 밝힌다. 일반적으로 사용되는 Johansen 공적분검증기법과 Banerjee 등(1998)의 소표본공적분검증기법을 모두 적용해 보았다. 그 결과 미국의 실업률과 수입침투율, 그리고 비관세장벽의 정도를 나타내는 대용변수로서 반덤핑 관세 및 상계관세의 산업피해 최종 긍정판정의 건수 간에는 공적분 관계가 존재하며, 미국의 대내외 거시경제 여건이 악화될수록 비관세장벽의 정도는 심각해지는 경향이 보였다. 아울러, WTO체제 출범 이후 미국의 비관세장벽은 다소 감소함을 알 수 있다.

This paper examines the causality among globalization, democratization and economic growth of four East Asian economies. A small-sample cointegration test is employed. The error-correction model shows that domestic investment causes economic growth in the case of Korea, Taiwan and Thailand. Foreign direct investment (FDI) inflows influence the economic growth of Malaysia and Taiwan positively, while there is no evidence suggesting that exports cause economic growth in four economies. There is no

The current paper reveals the macroeconomic determinants of material injury decisions on countervailing duties, which have seldom been analyzed. The empirical evidence of the behavior of the US International Trade Commission for the period 1980 - 2010 shows that there is a long-run equilibrium relationship between affirmative injury decisions and macroeconomic variables such as the unemployment rate and the import penetration ratio. The error-correction models show that the unemployment rate cau

Purpose - This paper investigates the effect of grants and loans on the economic growth of Asian countries during the period from 2000-2014 and, it disaggregates the panel data into East and South Asian (ESA) countries and Central Asian (CA) countries. Design/methodology/approach – This study examines the Barro-type growth framework using dynamic and static panel data techniques including the System Generalized Method of Moments (GMM-SYS) and the Fixed Effect (FE) model. Findings – The estimatio

Abstract Starting from a country underdeveloped in the automotive industry, Korea has become one of the largest producers of automobiles. Due to the various benefits of the development of the automotive industry, the Korean government has often tried to promote it. Since developing and producing Korea’s first own-brand vehicle model in the mid-1970s, Korea’s automotive industry has grown remarkably despite the limited domestic market size, becoming competitive and one of the major producers of a

The establishment and maintenance of export processing zones (EPZs) have been the most important aspect of Bangladesh's export promotion policy measures. The Government has provided firms with various types of incentives to invest in EPZs. The EPZs in Bangladesh have contributed significantly to export expansion and employment generation. The current paper explains the policies that the Government of Bangladesh has implemented and shows how they have affected the national economic growth in term

Ethiopia experienced a transition into the market-based system in 1992. It recorded a rapid economic growth since the mid-2000s. Analyzing the case of Ethiopia, this paper tries to reveal whether or not sticking to specialization based on the pattern of comparative advantage is preferred to industrialization and diversification. The share of agriculture in GDP continued to fall, while that of the manufacturing sector rose. Ethiopia’s rapid economic growth can be attributed to the combination of

본 연구는 한국에 있어서 중소기업 수출공급의 결정요인을 우선 분석한다. 이를 위해 Pesaran 등에 의한 자기회귀분산시차에 의한 공적분 분석을 시행한다. 이는 관련 변수들이 I(0)나 I(1)의 성격을 보이며 관찰회수가 제약된 경우에 적합한 공적분기법이다. 검증 결과 거의 모든 경우 일방적 결론이 곤란한 영역에 속하므로, 안정화된 변수를 사용한 회귀분석 혹은 오차수정모형에 의한 추정을 행한 다. 추정 결과는 수출상대가격과 환율이 중소기업수출공급에 유의미한 영향을 준다는 것을 보여준다. 그리고, 전반적인 경제성장률 상승이 또한 중소기업수출공급의 증가로 귀결된다. 그렇지만, 수출보험과 관세환급이 중소기업수출공급을 증가시킨다는 통계적으로 유의미한 정도의 증거는 나타나지 않는다. 이러한 결과는 정책적 측면에서 중소기업수출증가를 위해 급격한 원화가치 인상을 가급적 피하는 방향의 적절한 환율정책이 도움이 된다는 것을 의미한다. 또한, 중소기업을 겨냥한 기존 수출보험 제도와 관세환급제도의 효율

With the protection of intellectual property rights through the Uruguay Round trade negotiations, the developed countries were able to enjoy the rents paid by the developing countries, and the ability of the developing countries to catch up through imitation and industrialization became quite limited. The Trade-Related Intellectual Properties (TRIPS) Agreement of the WTO system could be evaluated as biased in favor of the developed countries. The patent protection in the TRIPS Agreement includes