• Journal of Korea Port Economic Association
• /
• v.32 no.4
• /
• pp.165-182
• /
• 2016

This study examines the competitiveness and cooperativeness among the container ports in East Asia by analyzing their monthly dynamics in eight years (2008-2015). Time series data on container throughput divided into origin and destination (O/D), such as the top six Chinese ports and the transshipment (T/S) ports such as Hong Kong, Busan, and Singapore, are computed with two methods based on the Vector Error Correction Model (VECM). The first Granger causality test results show that Busan T/S has significant bilateral relations with three Chinese O/D ports; and significant unidirectional relations with three other O/D ports. Shenzhen port has significant bilateral relations with Singapore, and has a significant unidirectional relation with Hong Kong port. Co-integrating test results showed that Busan holds negative co-integration with all Chinese O/D ports. Impulse response function (IRF) results show an opposite direction between paired ports. The ratios of the impulse from T/S ports are significantly high to one another in the short-run, but its power declines as time passes. The ratio of the impulse from the Chinese ports to T/S ports is less significant in the short-run period, however, it becomes more significant as time passes. The significance of most shocks was high in the second period, but was diluted after the sixth period.

• The Journal of the Korea Contents Association
• /
• v.12 no.9
• /
• pp.357-368
• /
• 2012

The purpose of this study is to empirically examine the impact of enterprise R&D investment on international trade in Korea under the new Normal Era. In order to test whether the time series data of trade variables are stationary or not, we put in operation unit root test and cointegration test. Based on VECM (Vector Error Correction Model), we also apply impulse response functions and variance decomposition to estimate the dynamic effects in the short-run and long-run. The results show that the relationship between enterprise R&D investment and international trade (export and import) exists in the long-run as well as in the short-run. The results of applying impulse response functions and variance decomposition also indicate that the impact of enterprise R&D investment on international trade is positive, and a significant portion of fluctuations in the trade variable is explained by enterprise R&D investment. Therefore, enterprise R&D investment must be continuously increased to improve economic growth with promoting trading competition power in Korea under the new Normal Era.

• Journal of the Korean Geotechnical Society
• /
• v.16 no.3
• /
• pp.131-144
• /
• 2000

본 연구는 비검측공 시험법으로서 널리 사용되고 있는 충격반향기법(impact-echo test)의 적용서을 수치해석 및 실내 실험을 통하여 분석해 보았다. 즉, 결함이 없는 말뚝과 결함이 있는 말뚝에 대하여 1차원 및 2차원 축대칭 유한요소해석을 실시하였으며, 또한 모노캐스트라고 하는 일종의 플라스틱 원형 봉의 말뚝에 축대창 공극, 비축대칭 공극, 병목부 및 단면 확대부와 같은 결함을 각각 크기와 깊이를 변화시켜 제작한 후 공기 중과 지반 내부에서 충격반향기법 실험을 수행하였다. 실험결과 충격반향기법의 말뚝 결함 탐지능력은 수치해석에서 얻은 결과와 함께 결함의 크기와 위치에 영향을 받는 것으로 나타났으며 결함의 크기가 커질수록 탐지의 정확도가 향상되는 것을 알 수 있었다. 결함의 상대면적이 말뚝 단면적의 50% 이상이면 충격반향기법에 의하여 결함의 위치를 파악할 수 있는 것으로 나타났으며, 공기 중 보다 지반에 근입 된 말뚝의 경우가 더욱 명확한 신호를 제공해주는 것으로 나타났다. 그리고 시간영역의 신호가 주파수 영역의 신호 보다 말뚝의 결함 크기에 더 민감히 반응하므로 주파수 영역에서 탐지할 수 없는 작은 크기의 결함을 시간 영역에서는 탐지할 수 있는 것으로 나타났다.

• Journal of the Korean Society of Propulsion Engineers
• /
• v.6 no.1
• /
• pp.30-38
• /
• 2002

Bullet impact tests for two solid rocket motors were performed and its results were compared and analyzed. One was loaded with the existing propellant with decreased weight content of burning rate catalyst and added high density additives to improve mechanical properties and the other was loaded with the existing propellant with decreased weight content of burning rate catalyst to improve its insensitivity as well as to maintain the ballistic performance. The composite cases were used for both motors.

• The Korean Journal of Financial Management
• /
• v.16 no.2
• /
• pp.285-308
• /
• 1999

증권의 가격형성에 유리한 뉴스와 불리한 뉴스가 도착할 때 이 뉴스가 주가의 변동성에 미치는 영향의 정도는 차이가 있다. 불리한 뉴스가 변동성에 미치는 영향도가 유리한 뉴스가 변동성에 미치는 영향도보다 크다. 따라서 불리한 뉴스가 발생할 때 형성되는 변동성의 양이 유리한 뉴스의 도착시보다 크다. 그리고 충격의 크기에 따라 이 충격이 야기하는 변동성의 양의 크기에도 차이가 존재한다. 일반 자기회귀 조건부 이분산 과정은 유리한 뉴스와 불리한 뉴스를 대칭적으로 반영하고 있다. 이 뉴스들을 비대칭적으로 포착하는 자기회귀 조건부 이분산 과정의 모형들을 실증적으로 분석하였다. 뉴스의 비대칭성과 규모를 적절히 포착하고 있는 모형들이 비선형 일반 자기회귀 조건부 이분산 과정, 지수 일반 자기회귀 조건부 이분산 과정과 정보 포착 자기회귀 조건부 이분간 과정임이 발견되었다. 이 중 비선형 일반 자기회귀 조건부 이분산 과정이 가장 좋은 모형으로 보인다. 비선형 일반 자기회귀 조건부 이분산 과정의 경우 예측오차의 승멱(power)이 약 1.5이다. 따라서 일반 자기회귀 조건부 이분산 과정의 예측오차의 승멱인 2에 비하여 작다. 이 사실은 일반 자기회귀 조건부 이분산의 예측오차의 승멱이 과도하게 측정되고 없음을 알 수 있다. 뉴스의 비대칭성과 규모를 반영하고 있는 모형들은 한결같이 예측오차의 크기에 적절한 가중치를 부여하여 예측오차의 크기를 조정하고 있다. 이 모형의 성질과 실증분석의 결과에 의하여 예측오차의 승멱은 2 이하로 수정하여 사용해야 한다는 점이 시사되고 있다. 음의 충격이 양의 충격보다 주가의 변동성을 크게 하고 없음이 발견되었다. 주가형성에 유리한 뉴스와 불리한 뉴스가 주가의 변동성에 미치는 영향의 차이와 충격의 중대성을 양으로 표시하는 규모의 차이를 반영해주는 변수들의 추정된 계수가 미국과 일본보다 절대값에 있어서 상당히 작다. 이 현상은 뉴스의 비대칭성과 규모보다는 발생하는 충격, 즉 뉴스 자체에 보다 민감하게 반응하고 있음을 보여주고 있다. 물론 투자자들이 뉴스의 비대칭성과 규모를 완전히 무시하고 투자활동을 전개하고 있다는 것을 의미하는 것은 아니다.

• Journal of Korea Port Economic Association
• /
• v.33 no.1
• /
• pp.47-59
• /
• 2017

The objective of this study is to determine the short run and long run dynamics between maritime import volume (IMV), industrial production (IP), and real effective exchange rate (REER) of the Korean Won over the REER of certain major currencies (US Dollar, Chinese Yuan, and Japanese Yen) in Korea's Jeonnam province. The Johansen and Juselius cointegration results reveal that at least one cointegration vector or long-run relationship exists. Hence, this study estimated the long run equilibrium equation, which indicates that both IP and REER are inelastic, although the former is bigger than the latter. Moreover, the dynamic causality analysis reveals short and long-run unidirectional causality from IP and REER to IMV in all three models. Further, in all the models, the results indicate short run unidirectional causality from REER to IP. In addition, the impulse response (IR) results show that the impulse of IP and REER decayed after four months. Additionally, the IR analysis results indicate that the REER of the Korean Won over the REER of Japanese Yen is the biggest with respect to the impact of relative REER on IP, which is the proxy variable of regional real income. Thus, empirical results indicated that real income and REER play an important role in determining the Jeonnam's maritime import demand behavior in the short run and long run. More importantly, substantial actions reducing unexpected fluctuation of the REER and real income based on micro and macro economic policies will increase the imported volume in the ports of the Jeonnam province.

• Journal of the Economic Geographical Society of Korea
• /
• v.22 no.4
• /
• pp.555-575
• /
• 2019

Though housing market varies spatially, housing policy is limited in reflecting detailed regional differentiation. This study looked at the differences in Seoul Gu Districts' response to housing policy for the efficient implementation of housing policies in the future. Housing policy index was established by each Gu-districts' according to investigated housing policies from 2003 to 2018, weighted in two categories(financial/urban planning) and the status of designated areas. The VECM model was established to analyze the impact of the housing policy on the housing market. According to the analysis, although housing policies were established in response to market prices change, the impact of policies on prices was lower than the impact of vice versa. The housing policy's impact to the housing market is limited in some areas in northeastern Seoul. These results show that there are differences in the responses to housing policy in Seoul districts', and therefore detailed consideration of the differences in the regional aspects of housing policy is needed.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.22 no.1
• /
• pp.575-584
• /
• 2021

The critical low temperature and response of the behavioral tolerance of red sea bream Pagrus major fingerlings were determined using the continuous behavior monitoring system (CBMS). The behavior of the experimental organisms was observed by decreasing the water temperature by 2.0℃ and 4.0℃ every 12 hours and 24 hours in the range of 8.0-20.0℃. An unstable behavior pattern was observed in red seabream fingerlings exposed to water temperatures below 12.0℃, in which the swimming activity decreased and repeatedly stopped, regardless of the exposure time and water temperature fluctuation. The swimming ability of the organisms exposed to 8.0-10.0℃ decreased sharply, and the behavior of staying at the bottom of the test tank was observed. Only 50 % of the organisms survived due to the low-temperature stress, and all individuals died within six hours after the cold shock. In addition, the behavior index (BI) decreased rapidly, and the amplitude change of the coefficient of variation (CV) was found to have a greater variation than the other water temperatures (p<0.05). Low-temperature stress of red sea bream is promoted at 12.0℃, and it is interpreted as the tolerance limit, which can induce a sublethal response of the organisms exposed to cold shock of 8.0-10.0℃.

• Proceedings of the Safety Management and Science Conference
• /
• 2011.04a
• /
• pp.571-572
• /
• 2011

이 논문은 주식시장에서 유동성이 감소될 경우 단기에 있어서 주가수익률의 하락현상에 대한 상관관계와 관련된 것이다. 그리고 주식시장에서의 유동성 감소가 기업들의 수익성 악화로 연결될 수 있는지와 관련된 연구를 하였다. 분석결과에 따르면, 한국에 있어서 Granger 인과성 검정결과와 충격반응분석, 분산분해 분석결과에 따르면 채산성 증감률의 경우 코스피수익률보다 코스닥수익률에 더 영향이 큼을 알 수 있었는데, 이는 소형주가 자금사정에 더 민감함을 반영하고 시차도 길게 반영되고 있음을 나타내고 있다. 이는 주식시장에서의 유동성 감소가 기업들의 수익성 악화로 연결되는데, 대형주에 비해서는 소형주에 보다 영향을 크게 미칠 수 있음을 시사하고 있다.

• Journal of the Economic Geographical Society of Korea
• /
• v.13 no.4
• /
• pp.663-680
• /
• 2010

This paper aims at analysing Regional Patterns of Farmland Price Changes for the Farmland Reverse Mortgage System. Farmland Reverse Mortgage(FRM) is a system in which the aged farmers in the rural areas receive certain amount of money monthly through the liquidation of their own farmlands for the life time. Farmland price affects the farmland annuity considerably. In the future, if the farmland price goes down than the price when the borrower joined FRM, the borrower can get profits from the pension. Based on the results, the farmland price of Kyeonggi-do is strongly related to economic growth rates(index of industrial product). while that of Gyeongsangbuk-do is weakly related to economic variables including economic growth rates. Therefore, the expectation of farmland value rising rate will be higher in Kyeonggi-do than in Gyeongsangbuk-do. Thus the number of borrowers who want to join FRM in Gyeongsangbuk-do will be more than those in Kyeonggi-do.