• International Area Studies Review
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• v.12 no.2
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• pp.125-145
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• 2008

Japan is now facing an aging society with fewer children. According to the demographic change in Japan, its economic effect on the economic growth has gained public attention. This paper focuses on the effect of the demographic change on economic growth in Japan, too. The first part illustrates the process of demographic transition in Japan. Thanks to successful Meiji Revitalizing Reform, Japan had experienced demographic transition earlier than the other East Asia countries. The second part of this paper describes relations between demographic factors and economic growth theoretically. In addition, it analyzes demographic effects on economic growth empirically using time series data of Japan from 1952 to 2005. It is the main finding of analyses that there are positive relations between demographic factor, including employment population rate, population rate and TFR, and economic growth. Therefore, in the near future, a decreasing labor force will cause economic stagnation in Japan. To overcome this problems, it is required to make various policies.

• International Area Studies Review
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• v.20 no.3
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• pp.81-100
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• 2016

In this study we analyze the performance of overseas subsidiaries of Korean multinationals with localization in sales, purchase, and employment. We use the data of 2,116 overseas subsidiaries in 61 countries between 2008 and 2011 provided by The Export-Inport Bank of Korea. As a result, analysis shows that the effect of localization on the performance is quite different by sectors and countries which the subsidiaries have entered. In the manufacturing sector, increase of local sales has positive effect only in China, while local purchase improves the performance of the subsidiaries in developing counties excluding China. However, the subsidiaries which had made a foray to service sector in advanced countries aquired better performance with localization of sales, purchase, and employment, whereas those in China had no merit except localization of purchase.

• Korea Trade Review
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• v.41 no.3
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• pp.177-198
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• 2016

China has retained economic growth rate of average 9% for more than ten years recently after China introduced capitalistic market economy system in 1979 by Deng Xiaoping. China has attracted foreign direct investment for a long time because it has retained very high economic growth rate, low labor cost, and various policies for foreign investors. This paper tries to analyse the determinants of foreign direct investment inflow after reform-opening of China with empirical analysis methods utilizing each province·city's specific characteristics by using the panel data from 1985 to 2013. For the empirical analysis we use random effect model, fixed effect model, pooled OLS, and random coefficient model. The results by pooled OLS and random coefficient model are presented for the comparison with the main results in the process of research. The research shows the results by fixed effect model are better than those by random effect model after doing Hausman's test. The results shows that GRDP, capital stock, and telecommunication exert a positive relationship with foreign direct investment, while express way variable exerts a negative one. China's education level surprisingly does not attract foreign direct investment even though it is not at a critical level. Therefore, the Chinese government should try to increase national income level as it symbolizes market size; encourage domestic investment; and construct high quality telecommunication infrastructure.

• 열린충남
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• s.61
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• pp.44-51
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• 2013

우리는 지금 행복한 삶을 살고 있는가? 우리는 누구나 행복을 꿈꾸지만 물질적 풍요로움에 묶여 진정한 행복을 누리지 못하고 있는 건 아닐까? 이제는 이 '행복' 실현을 위한 패러다임의 변화를 인식하고 우리 사회의 지표로 만들어가야 한다는 목소리가 커지고 있다. 충남발전연구원(원장 박진도)은 한겨레경제연구소, 충청투데이와 공동으로 '행복한 삶 : 경제적 가치를 넘어'를 주제로 행복의 조건을 찾아보는 국제컨퍼런스를 지난 11월 30일 대전에서 열었다. 이날 행사에는 우리에게 <오래된 미래>로 잘 알려진 행복경제학의 전도사 '헬레나 노르베리 호지' 생태와 문화를 위한 국제협회(ISEC) 대표, 부유하지 않아도 국민의 행복도가 높은 나라 부탄의 국민총행복위원회(GNHC) 카르마 치팀 위원장, 삶의 질 연구의 권위자로 일본 내각부 소속 웰빙측정위원회 나오토 야마우치 위원장, 고승희 충남발전연구원 책임연구원 등이 참석했다.

• Environmental and Resource Economics Review
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• v.4 no.2
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• pp.383-393
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• 1995

석유개발사업은 고도의 위험성, 투자자금의 장기회임성, 그리고 대규모 투자자금의 필요성등의 특성을 가지고 있다. 따라서 개발사업에 참여하기에 앞서 개발비용과 향후 유가추이를 면밀히 검토하여야 한다. 국제원유시장은 기본적으로 공급초과 상태에 있으며 앞으로 상당기간동안 가격은 안정추세를 나타낼 것이다. 단기적 등락에도 불구하고 원유가격은 장기적으로 상승할 것이라는 당대의 견해는 이른바 유한고갈성자원의 희소렌트가 이자율과 같은 속도로 상승한다는 '호텔링의 모형'에 이론적 기초를 두고 있다. 그러나 국제원유시장에서의 원유가격은 경쟁가격이 아니라 OPEC카르텔에 의한 담합가격으로 실제적 시장상황에 비해 인위적으로 높게 유지되어 왔다. '카오스 이론'에 따르면 석유시장은 동태적으로 구조변화를 반복하기 때문에 사전적으로 석유가격을 예측한다는 것은 애당초 불가능하다. 따라서 불규칙적으로 변화하는 석유가격을 예측하려고 노력하기보다는 석유시장의 불확실성을 인정하고 선물시장의 활용을 통해 석유개발과 관련된 위험을 줄여나가야 할 것이다.

• International Area Studies Review
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• v.14 no.1
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• pp.55-76
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• 2010

This paper analyses interaction between yen/dollar exchange rates and NIKKEI index using bivariate GJR-GARCH(1,1) model. The data employed for the study is daily data series for the period of Jan. 4, 1995 through Aug. 30, 2009. One of main findings is that market inefficiency appears in the periods of financial crisis. Second, the volatility of exchange rates and stock returns has more increased in the wake of the volatility shock of the previous period during financial crisis than during non-financial crisis. Third, interestingly, the asymmetric volatility shock by bad news in those markets is bigger in financial crisis period than in non financial crisis. Fourth, in the period of current global financial crisis triggered by subprime mortgage crisis in U.S, volatility shock at the previous period is bigger than that of Asian financial crisis that happened in 1997. Lastly, the correlation between both returns of exchange rates and stock prices turns up positive according to the empirical estimation. This result may come from the fact that Japanese stock market does not have much attraction for international financial investment compared to stock markets of neighbouring countries like China, Korea and so on, while real sector's contribution to the economy is considered more importantly.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.26 no.4
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• pp.155-163
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• 2018

The development in air transport increases noise around the airport. In order to reduce the noise around the airport, International Civil Aviation Organization has made a lot of effort since the 1970s and Many countries, including South Korea, are implementing many noise reduction policies. This paper investigates those noise reduction policies of medium-sized airports with similar frequency to Gimpo, Jeju and Gimhae airports in South Korea and compares eleven airports in Europe, eleven airports in Asia and five airports in America, including Oceania. According to the research, European countries developed and applied the navigation procedure to avoid the noise area according to the characteristics of the airport. In Asia, there are not as many domestic noise reduction policies. In case of the United States, it provides information only on noise-sensitive areas around airports. After having investigated various policies, this research has examined the noise reduction policy of South Korea. It is concluded that new navigation procedures which reduce noise should be developed.

• The Journal of the Convergence on Culture Technology
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• v.5 no.4
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• pp.329-337
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• 2019

It is true that many tales delivered in an 'Story-telling' auditorium or theater have not so much exquisite and refined forms as distorted and deteriorated ones. Furthermore, when false interpretations of tale-performers added into the category of the texts of tales, the problems can be made worse. In case of oral folk tales, there can be discordance between the standpoint of a tale-performer and the contents of a tale. This thesis is directly aimed at pointing out the 'Behavior Economics' problems concerned with the reading and interpretation of tales through investigating the missing parts of a text in reading tales. Man's rationality is meant to be confined to bounded rationality. Instead of making best choices, bounded rationality leads consumers to make a decision which they think suffices themselves to the point requiring no more consideration on the given item. It is the very Heuristic that does work in the process of this simplified decision making process. Heuristic utilizes established empirical notion and specific information, and that's why there can be cognitive 'Biases' sometimes leading to inaccurate judgment. As Oral Literature is basically based on heavy guesswork and perceptual biases of general public, it is imperative to contemplate oral literature in the framework of Heuristic of behavior economics. This thesis deals with thinking types and behavioral patterns of the general public in the perspective of heuristic by examining 'Story-tellings' on the basis of personal or public memory. In addition, heuristic involves how to deal with significant but intangible content such as the errors of oral story teller, the deviations of the story, and responses of the audience.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.1
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• pp.221-230
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• 2021

In this study, a firm's internationalization level was measured as the ratio of foreign sales to total sales (FSTS) of individual firms. A demonstration was conducted with several control variables that affect the persistence of the firm's profits using the Sloan (1996) model as a proxy for its primary relationship between net profit and the next profit. An empirical analysis of the end-December settlement firms listed on the securities market from 2011 to 2016 was conducted using a fixed-effect model to confirm that the persistence of the firm's internationalization and accounting profits was positive at the 1% significant level, indicating that the persistence of the firm's profits also increased as the level of individual firm's internationalization increased. In addition, the firm size, financial soundness, cash accompanying, growth, and investment ability, consistent with forecasts, represented a statistically significant (+) relationship with globalization. These results suggest that firms can maintain and expand their value stably by securing new overseas markets and promoting growth by implementing internationalization strategies.

• Journal of Environmental Policy
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• v.6 no.4
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• pp.103-127
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• 2007

This study presents the political economics models to explore the political landscape of special interest groups influencing the government's decision making process for implementing international environmental standard. Starting with the popular menu-auction types of lobbying frameworks in the literature, the study extends its scope of research to multi-principal and multi-agency based international interest group politics and its hybrid case in order to bring the interaction of the relevant interest politics to the fore. Within a specific factor model of international trade between 2 small open economies, we compare the political equilibrium environmental standards in different institutional frameworks which can be feasible in the sense of recently growing role of environmental interest group. Although the conventional finding suggests that cooperative bargaining between the two countries can attain the globally optimal level of the standard, the paper rather explains that the cooperation between the national interest groups and the hybrid case also generate the stricter standard then national interest politics usually do.