• Title/Summary/Keyword: Crisis Response

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Global Oil Prices and Exchange Rate: Evidence from the Monetary Model

  • ZAFAR, Sadaf;KHAN, Muhammad Arshad
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.1
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    • pp.189-201
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    • 2022
  • The study empirically examines the impact of monetary fundamentals along with global oil prices on the Pak-rupee exchange rate using the monthly data over 2001-2020. Employing the cointegrating vector autoregressive with exogenous variables (VARX) and vector error correction model with exogenous variables (VECMX), the study analyzes the impact of domestic monetary fundamentals while considering the foreign variables as weakly exogenous. In order to account for the structural breaks in the data, the Lagrange multiplier (LM) unit root test with two structural breaks has been used (Lee & Strazicich, 2003). The empirical results reveal that the domestic and foreign monetary variables significantly explain the exchange rate movements in Pakistan both in the long run and in the short run. The dynamic properties of the monetary model of exchange rate have been analyzed using the persistence profile analysis and generalized impulse response functions (GIRFs). The results reveal that the responses of shocks to domestic monetary fundamentals are consistent with the predictions of the monetary model of the exchange rate. Furthermore, being a net oil importer, a rise in global oil prices significantly depreciated the Pak-rupee exchange rate over the period of study. The global financial crisis (GFC) and pandemic (COVID-19) were also found to cause the Pak-rupee exchange rate depreciation.

The Effect of Situational, Transformational, and Transactional Leadership on Firm Survival During the Crisis of Covid-19: Empirical Evidence from Restaurants Distribution in Thailand

  • Purit PONGPEARCHAN;Jirayu RATTANABORWORN
    • Journal of Distribution Science
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    • v.21 no.8
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    • pp.11-21
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    • 2023
  • Purpose: This study examined the effect of situational, transformational, and transactional leadership on the firm survival of restaurants distribution in Thailand during the COVID-19 pandemic. Following the existing literature, situational, transformational, and transactional leadership are the origin of firm performance leading to firm survival. Therefore, situational, transformational, and transactional leadership were the critical factors in creating the firm implementation of restaurants distribution in Thailand. Research design, data, and methodology: The sample consisted of 400 restaurants in Thailand, and the statistical approach for data analysis was an ordinary least-squares regression. The study analyzed the response bias, validity, and reliability. Results: Significantly, these findings firmly revealed that situational, transformational, and transactional leadership primarily positively affected firm performance. However, the uncertain environmental conditions had a moderate impact, resulting in a negative correlation between the three leadership styles and the company's performance. Conclusions: Despite the COVID-19 situation in Thailand, the research findings show no significant positive correlation between the performance of restaurants distribution and their survival as a business due to the COVID-19 pandemic is rare for firms to endure and survive, including restaurants distribution in Thailand. In conclusion, we have presented practical and theoretical ideas and recommendations for future research.

Analysis of Causality of the Increase in the Port Congestion due to the COVID-19 Pandemic and BDI(Baltic Dry Index) (COVID-19 팬데믹으로 인한 체선율 증가와 부정기선 운임지수의 인과성 분석)

  • Lee, Choong-Ho;Park, Keun-Sik
    • Journal of Korea Port Economic Association
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    • v.37 no.4
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    • pp.161-173
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    • 2021
  • The shipping industry plummeted and was depressed due to the global economic crisis caused by the bankruptcy of Lehman Brothers in the US in 2008. In 2020, the shipping market also suffered from a collapse in the unstable global economic situation due to the COVID-19 pandemic, but unexpectedly, it changed to an upward trend from the end of 2020, and in 2021, it exceeded the market of the boom period of 2008. According to the Clarksons report published in May 2021, the decrease in cargo volume due to the COVID-19 pandemic in 2020 has returned to the pre-corona level by the end of 2020, and the tramper bulk carrier capacity of 103~104% of the Panamax has been in the ports due to congestion. Earnings across the bulker segments have risen to ten-year highs in recent months. In this study, as factors affecting BDI, the capacity and congestion ratio of Cape and Panamax ships on the supply side, iron ore and coal seaborne tonnge on the demand side and Granger causality test, IRF(Impulse Response Function) and FEVD(Forecast Error Variance Decomposition) were performed using VAR model to analyze the impact on BDI by congestion caused by strengthen quarantine at the port due to the COVID-19 pandemic and the loading and discharging operation delay due to the infection of the stevedore, etc and to predict the shipping market after the pandemic. As a result of the Granger causality test of variables and BDI using time series data from January 2016 to July 2021, causality was found in the Fleet and Congestion variables, and as a result of the Impulse Response Function, Congestion variable was found to have significant at both upper and lower limit of the confidence interval. As a result of the Forecast Error Variance Decomposition, Congestion variable showed an explanatory power upto 25% for the change in BDI. If the congestion in ports decreases after With Corona, it is expected that there is down-risk in the shipping market. The COVID-19 pandemic occurred not from economic factors but from an ecological factor by the pandemic is different from the past economic crisis. It is necessary to analyze from a different point of view than the past economic crisis. This study has meaningful to analyze the causality and explanatory power of Congestion factor by pandemic.

A study of the major countries cyber terrorism Response System and Implications - Focusing on Analyzing the U.S., U.K. and Germany Cases - (주요국의 사이버테러 대응체계와 시사점 분석 - 미국·영국·독일 사례의 비교를 중심으로 -)

  • Kwon, Oh-Kook;Seok, Jae-Wang
    • Korean Security Journal
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    • no.49
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    • pp.187-214
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    • 2016
  • In the mordern society, the reliance on the cyber domain and the cyber connectivity has been increasingly strengthened. Due to this phenomenon, the cyberterror against critical infrastructures and state organs might lead to fatal consequences. Lately, North Korea's cyberattacks against South Korea's national organizations and financial computer networks are becoming more and more intelligent and sophisticated. The cyberattacks against such critical infrastructures have caused enormous economic loss and social disorder. This paper is designed to examine comparatively the cyberterror related laws and organizations of the advanced countries such as U.S. and U.K. and to draw implications. Although those countries are under different institutional and cultural backgrounds with varying security envrionments, they are identically pursuing measures by establishing government-wide counterterror system for coordination and cooperation. They are also commonly focusing upon creating new organizations equipped with new system and upon enhancing intelligence performance and devising punishment regulations. Korea is lack of framework laws regulating cyber security, having only scattered individual laws. Since such legal base is far from efficient counterterror activities, it is necessary that the legal and policy response of the advanced countries should be closely studied for selective introduction. That will eventually lead to legislation of cyber security law. With such legislation on hand, it is subsequently required to strengthen crisis management for prevention of cyberterror and to create joint response team, cooperating with private organizations.

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The Relationships of Myers-Briggs Type Indicator and Assertiveness Training to Assertiveness Behavior and Conflict Management Mode (간호대학생의 성격유형과 주장훈련이 주장행동, 갈등관리 양식에 미치는 영향)

  • Park, Jeong-Hee
    • Research in Community and Public Health Nursing
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    • v.13 no.3
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    • pp.556-565
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    • 2002
  • Due to the fact that nurses may deal with diverse populations in the work place, it is very important for then to maintain appropriate interpersonal relationships with clients. Nurses should maintain diverse types of relationships appropriately with patients with special needs and their families during crisis, other nursing colleagues and staff on the same team, clients in the school or work place as well as the community. In particular, a hospital is a society with a system and hierarchy, and the importance of interpersonal relationships is much more emphasized. In interpersonal relationships, it is very important for a person to communicate with others in an accurate manner, and when the communication is not achieved appropriately, the person may have troubles and experience distress and conflicts because of the inaccurate communication of thoughts. According to the findings of previous studies, nurses actually experience much distress in the work place because of the miscommunication that they have with others. The purpose of this study was to observe a correlation between Myers-Briggs Type Indicator and assertiveness behavior, and to exam the effects of assertiveness training on the assertiveness behavior and conflict management mode. The subjects of this study included 20 persons in the experimental group and 20 persons the in control group. Myers-Briggs Type Indicator was applied before the study. The assertiveness training group received six, 120 minutes sessions over a 3 week period. Pre-test on assertiveness behavior, Communication Conflict Inventory-General, Role Conflict Inventory- General, Conflict Management Mode was achieved for all the subjects prior to the training. Post-test was administered to all the subjects one week following the last session. The data were analyzed using SPSS PC program to obtain findings on mean. standard distribution, t-test, and Pearson correlation. The results are as follows: (1) Myers-Briggs Type Indicator Introvert/Extrovert was correlated to assertive behavior and avoid- response type conflict management mode. (2) The assertiveness training was correlated to assertiveness behavior, communication conflict degree, and avoid- response type conflict management mode. (3) The post-test scores between the training group and the control group were significantly different in assertiveness behavior and avoid-response type conflict management mode. It is suggested that more studies need to be done to differentiate the effects of Myers-Briggs Type Indicator and assertiveness training on assertiveness behavior and avoid-response type conflict management mode.

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A Study on Strengthening Consequence Management System Against CBRN Threats (CBRN 위협에 대비한 사후관리체계 강화방안)

  • Kwon, Hyuckshin;Kwak, Minsu;Kim, Kwanheon
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.40 no.4
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    • pp.429-435
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    • 2020
  • North Korea declared itself complete with nuclear force after its sixth nuclear test in 2017. Despite efforts at home and abroad to denuclearize the Korean Peninsula, the prospects for the denuclearization are not bright. Along with political and diplomatic efforts to deter NK's WMD threats, the government is required to strengthen its consequence management capabilities against 'catastrophic situations' expected in case of emergency. Accordingly, this study was conducted to present measures to strengthen follow-up management against CBRN threats. The research model was partially supplemented and utilized by the THIRA process adopted and utilized by the U.S. Department of Homeland Security among national-level disaster management plan development models. Korea's consequence management (CM) system encompasses risk and crisis management on disaster condition. The system has been carried out in the form of a civil, government and military integrated defense operations for the purpose of curbing the spread or use of CBRNs, responding to threats, and minimizing expected damages. The preventive stage call for the incorporation of CBRN concept and CM procedures into the national management system, supplementing the integrated alarm systems, preparation of evacuation facilities, and establishment of the integrated training systems. In the preparation phase, readjustment of relevant laws and manuals, maintenance of government organizations, developing performance procedures, establishing the on-site support systems, and regular training are essential. In the response phase, normal operations of the medical support system for first aid and relief, installation and operation of facilities for decontamination, and development of regional damage assessment and control guidelines are important. In the recovery phase, development of stabilization evaluation criteria and procedures, securing and operation of resources needed for damage recovery, and strengthening of regional damage recovery capabilities linked to local defense forces, reserve forces and civil defense committees are required.

Improvement Manual for Waterworks Facilities to Reduce the Damage of Volcanic Ash (화산재 피해 저감을 위한 상수도시설 대응매뉴얼 개선방안)

  • Yoon, Hyoung-Uk;La, Da-Hye;Lee, Gyeng-Bin;Kim, Min Gyu;Chung, Il-Moon
    • The Journal of Engineering Geology
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    • v.28 no.2
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    • pp.267-276
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    • 2018
  • Volcanic ash from volcanic eruptions spreads to vast areas hundreds of kilometers away, and when volcanic ash flows into surface waters, it will be damaged by water supply. In case of water supply facilities, it provides to people drinking water and domestic water, be consumed by the people cause social disorder when water supply is cut off due to damage such as water pollution caused by harmful materials of volcanic ash. However, when we looked at the disaster management manual, the establishment of a water supply facility manual to deal with the damage of volcanic ash was found to be insufficient. Therefore, in this study, the existing volcanic and water pollution related manuals were analyzed and problems were derived. In order to make quick situation judgment and response activities, we have suggested the scope of the water supply facility manual, disaster type, major missions and system of related organizations, and scenario of crisis situation by disaster type.

Diversification on Fund Management for Sustainable Growth and Support of New Growth Engine Industries (신성장동력산업의 지속적인 육성 및 지원을 위한 펀드 운영방안의 다각화)

  • Lee, Suk-Jun;Ko, Hyoung-Il;Jeong, Suk-Jae
    • Journal of Korea Technology Innovation Society
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    • v.13 no.4
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    • pp.717-737
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    • 2010
  • In the face of climate changes and economic crisis, nations across the world spare no efforts to identify new growth engine industries and lift the domestic economy by promoting green technologies and tightening environmental regulations. The Korean government also tries to create and promote new growth engine industries. As part of these efforts, it launched the New Growth Engine Fund in 2009, a private and public initiative to support small- and medium-sized companies that own promising new green technologies. However, it has a limitation on making investment in the fund due to the global economic crisis, the significant size of necessary capital investment and the difficulty of finding investment companies. The lukewarm response of the private sector arose a need to change the fund management method. Against this backdrop, this paper aims to propose efficient strategies of managing various funds such as cooperation fund between the central and local governments, incubator fund financed by the government and financial institutions and win-win cooperation fund for the government, large companies and partners as a means of developing and supporting new growth engine industries in a sustainable way. The importance of this research lies with the proposition of various funds that can be used to implement the government's strategic goal of developing new growth engine industries.

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Analysis of the Korean Real Estate Market and Boosting Policies Focusing on Mortgage Loans: Using System Dynamics (주택담보대출 규제 완화에 따른 부동산시장 영향 분석: 시스템다이내믹스 모형 개발)

  • Hwang, Sung-Joo;Park, Moon-Seo;Lee, Hyun-Soo;Yoon, You-Sang
    • Korean Journal of Construction Engineering and Management
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    • v.11 no.1
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    • pp.101-112
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    • 2010
  • The Korean real estate market currently is experiencing a slowdown due to the global economic crisis which has resulted from subprime mortgage lending practices. In response, the Korean government has enforced various policies, based on intend to deregulate real estate speculation, such as increasing the Loan to value ratio (LTV) in order to stimulate housing supply, demand and accompanying housing transactions. However, these policies have appeared to result in deep confusion in the Korean housing market. Furthermore, analyses for housing market forecasting particularly those which examine the impact of the international financial crisis on the Korean real estate market have been partial and fragmentary. Therefore, a comprehensive and systematical approach is required to analyze the real estate financial market and the causal nexus between market determining factors. Thus, with an integrated perspective and applying a system dynamics methodology, this paper proposes Korean Real Estate and Mortgage Market dynamics models based on the fundamental principles of housing markets, which are determined by supply and demand. As well, the potential effects of the Korean government's deregulation policies are considered by focusing on the main factor of these policies: the mortgage loan.

The Analysis of the Learning Elements in 'Curriculum Reconstruction' of Elementary Pre-service Teachers in Connection with 'The Weather and Our Daily Life' ('날씨와 우리 생활'과 연계한 초등예비교사들의 '교육과정 재구성' 학습요소 분석)

  • Kim, Hae-Ran;Lee, Yong-Seob
    • Journal of the Korean Society of Earth Science Education
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    • v.14 no.2
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    • pp.202-211
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    • 2021
  • The purpose of this study is to find out the Learning elements in 'Curriculum Reconstruction' of Elementary Pre-service Teachers in Connection with 'The weather and our daily life'. The pre-service teachers who participated in the study formed a research group of 29 students in 2nd grade who are attending the first semester of A university of education and taking courses in 'teaching research 1'. Participants described the learning topics and contents they would like to add to curriculum 'The weather and our daily life'. Each response was analyzed and classified based on scientific terms related to weather or climate. The results of the study were as follows. First, there were three learning topics related to weather, such as water phenomena in the atmosphere, fine dust and yellow dust phenomena, and light or electricity phenomena, and two topics related to climate such as abnormal climate and global warming. Second, interest in the problem of fine dust and yellow dust in the atmosphere was relatively high. Third, the interest in learning in the knowledge area was relatively higher than in the learning in the function or attitude area. Through these research results, it can be confirmed that it is necessary to develop a climate change or climate crisis education program.