• Journal of the Korean Society of Food Science and Nutrition
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• v.34 no.9
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• pp.1407-1413
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• 2005

Korean households' expenditures on the eating -out have been steadily increasing except for the foreign exchange crisis period. This paper aimed to examine the eating-out expenditures of salary and wage earners's households by educational attainment of household head. We modeled the demand function of eating-out in terms of income and price, examining the responsiveness of eating-out demand to changes in income and price using econometric methods such as regression, rolling regression and impulse response. This paper showed that coefficients of income and price tended to decrease as the income rises in the long-run. Specifically, the higher the educational attainment of household head is, the smaller the coefficients of income and price we. The impulse response analysis also indicated that while price shocks decreased the demand for eating-out, income shocks tended to increase tile demand for eating-out in all the educational attainments. Furthermore income shocks were much greater and last longer than price shocks at all educational attainments of household heads.

• Environmental and Resource Economics Review
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• v.19 no.1
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• pp.101-127
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• 2010

The purpose of the research is to tackle proximity effects (PEs) when nonmarket valuation method CVM is applied to environmental goods such as tidal flats. 1,000 households are surveyed in the ratio of national household for the research. The sample are reclassified into five areas by 30-minute distance. Log-linear are used to analysis PEs in the research. On conclusion log-linear model regarding income effects proves that PEs are apparently represented in NMVMs(${\theta}_1$ >0. ${\theta}_2$ >0 and $dum1{\neq}0$, $dum2{\neq}0$, $dum3{\neq}0$, $dum4{\neq}0$) as a result of a 5 per cent significant level of t -test and F-test, finally rejecting the null hypothesis. In addition, WTP of area I respondents shows 26 per cent more then that of area V respondents, which is from \87,969 to \64,866 in the open-ended format. Finally, the research proves that the PEs in CVM are evidently represented with the econometric model, hence the PEs have to be embedded into the questionnaire of non-market valuation methods with the environmental goods to reduce the underestimation and improve the estimation accuracy.

• The Journal of the Korea Contents Association
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• v.20 no.1
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• pp.304-316
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• 2020

Laos is rich in natural resources but lacks the capital to develop them. Partly alleviating the shortage is FDI from neighboring countries, especially Thailand. Not only does this contribute to directly increasing GDP by increasing effective demand, it also has an additional GDP increase effect by expanding Laos' production capacity. Laos' exports mostly consist of mineral resources and electricity. This, too, contributes to an increase in GDP by increasing the effective demand. Thailand accounts for more than 40 percent of Laos' exports. This paper tries to confirm the economic impact on Laos in Thailand through a econometric analysis of Laos' GDP, Laos' exports to Thailand and Thailand's FDI to Laos. It turns out that economic ties with Thailand, including exports to Thailand and Thailand's FDI, play a very important role in Laos' economic growth. Laos recently recorded relatively robust economic growth, but its driving force is weak. That's because Laos' growth engines are very limited and have no resilience to external shocks. Moreover, economic growth has not been linked to an increase in employment because the economy is not diversified and growth in the hydroelectric power sector does not lead to growth in other sectors. Given this, Laos needs to actively take advantage of its geographical proximity to Thailand. It is necessary to create a more active environment for the inflow of FDI in Thailand, to foster resource-based and labor-based manufacturing to take advantage of the Thai market.

• Journal of Korea Technology Innovation Society
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• v.14 no.1
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• pp.22-39
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• 2011

This study examines the wage level from a viewpoint of major-job match as part of an analysis on the skill mismatch problem in 4-year college graduates. The empirical analysis explicitly incorporate the sample selection bias as an econometric problem not only suggested but merely introduced in the earlier studies. This study also set up a major-job match variable, which was usually handled as a binary variable for analytical convenience, as a polychotomous choice variable in selection equation as provided by the survey. In particular, it considered multi-cohort survey on graduates of the years 1982, 1992, and 2002 for the empirical analysis. As a result of empirical analysis, the wage premium of a major-job match was identified. This result was consistent after the consideration of a sample selection bias and also after modeling the major-job match variable as polychotomously selective. Through an analysis classified by the major, this study identified a relatively high wage premium among Social Science, Engineering, and Science majors. However, there was a difference in the effect of selection among these majors. Also, by assessing cohort effects this study found that the skill mismatch had rapidly progressed in 1992, while difference between 1992 and 2002 cohorts are insignificant. The analysis suggests that wage level is better understood within the context of both sample selection and major-job match, and regardless of model specification the major-job match affects wage strongly.

• International Commerce and Information Review
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• v.17 no.1
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• pp.217-240
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• 2015

This paper uses the modified gravity model of international trade to examine the impact of ODA on the export of Korea to 28 aid recipients. In this perspective, the study includes recipient's economic size, trade openness, population, donor's scale of aid and distance between them as key determinants of the export of Korea by using panel data over the period of 2005-2012. To do this task, important econometric methods are fulfilled to test the model adequately, such as panel unit root and panel co-integration test. In addition, the study incorporated the panel OLS, panel GLM and panel EGLS methods. The empirical analysis clearly showed that an increase in Korea's ODA promotes its own exports. The coefficients of recipients's per capita GDP, population and trade openness have a positive impact on Korea's export respectively, while distance between them has a negative impact. Regarding regional dummy variables, aid for the region of Africa and America have a negative impact on Korea's export. Overall, the main implication of this study is that even if it emphasized Korea's economic interests as determinants of ODA disbursements, but it also suggests that an improvement of recipient's economic development, income distribution and educational environment can be an important concern in the future.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.38 no.5
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• pp.741-749
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• 2018

The purpose of this study is to propose a rational and scientific damage calculation model in relation to damages caused by bid rigging in construction projects. Previous studies and precedents in relation to calculating damages from bid rigging suggest that the main issue was the lack of consideration in standards for deciding successful bids, selection of inadequate standard comparative markets, insufficiency in analyzing the appropriateness of competitive bid price influence factors, and absence of calculation model verification. In order to improve on these issues, a damage calculation method on alternative tenders for construction projects was proposed. For this calculation model, first, a standard market adequate to the successful bid selection standards was determined, second, an appropriate factor was selected by analyzing the correlation between competitive bid price influence factors, and third, a regression analysis was conducted on the selected factor. Lastly, this was demonstrated through verification of appropriateness, significance & normality of the proposed model and application of actual bid rigging cases. Through the proposed calculation model, this study seeks to serve as a base to prevent opportunity damages for parties involved in related court cases by early resolution of disputes and relief from issues of unfair damage burdens on a particular party.

• Journal of the Economic Geographical Society of Korea
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• v.8 no.2
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• pp.267-284
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• 2005

This study analyzes the effects of localities' competitiveness which can contribute to employment growth in industries, on economic development in the local jurisdictions. For this analysis, such competitiveness is measured by competitive shares calculated from the application of a shift-share method to the employment growth in industries each locality witnessed over the 1990s. And we use annual population growth rate and average annual per capita income (substituted by per capita head tax derived from income tax) of the early 2000s as variables of local economic development. The analysis targets 167 local jurisdictions in Korea for the employment growth in industries, and is mainly placed in a spatial econometric setting. The results of analysis are as follows : The competitive share of manufacturing has the effect of increasing annual population growth rate whereas that of construction has a negative effect on the population growth rate. As well, the competitive shares of manufacturing and of construction negatively influence average annual per capita income while that of community, social and personal services positively affects the income.

• Korean Journal of Construction Engineering and Management
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• v.14 no.2
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• pp.131-140
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• 2013

Econometric forecast models based on past time-series data have been applied to a wide variety of applications due to their advantages in short-term point estimating. These models are particularly used in predicting the impact of governmental research and development (R&D) programs because program managers should assert their feasibility due to R&D program's huge amount of budget. The construction governmental R&D programs, however, separately make an investment by dividing total budget into five sub-business area. It make R&D program managers difficult to understand how R&D programs affect the whole system including economy because they are restricted with regard to many dependent and dynamic variables. In this regard, system dynamics (SD) model provides an analytic solution for complex, nonlinear, and dynamic systems such as the impacts of R&D programs by focusing on interactions among variables and understanding their structures. This research, therefore, developed SD model to capture the different impacts of five construction R&D sub-business by considering different characteristics of sub-business area. To overcome the SD's disadvantages in point estimating, this research also proposed the method for constructing quantitative forecasting model using qualitative data. Understanding the different characteristics of each construction R&D sub-business can support R&D program managers to demonstrate their feasibility of capital investment.

• Journal of Korea Port Economic Association
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• v.27 no.2
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• pp.355-372
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• 2011

Various incentive policies for transshipment cargo have been enforced without any evaluation of the effectiveness. Therefore, the purpose of this study is to evaluate the effect of volume incentive on container transshipment cargo. To be different from previous studies, this study tries to quantitatively assess the incentive effects by using econometric techniques. The result derived from the ARIMA type models indicates that the total amount of the increased transshipment cargo during the last 7 years is about one million TEU. In the meanwhile, the multivariate long run equilibrium model implies that the increased transshipment cargo is less than 0.5 million TEU for the 7 years. Furthermore, the structural break tests indicate that the volume incentive does not change the model structures. It means that the effect of volume incentive is not statistically significant. Consequently, the test results conclude the effect of volume incentive on transshipment cargo is not significant although the volume of transshipment cargo is increased to some extent by volume incentive. Considering the magnitude of BPA's expenditure, we doubt the effectiveness of volume incentive. This study, therefore, encourages the port authority to research a more efficient way to induce transshipment cargo rather than focusing on only volume incentives.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.11
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• pp.7820-7830
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• 2015

Korean households' demand for food consumed away from home is on the steady increase. The ratio of eating-out expenditure of the household income, however, tends to decrease recently irrespective of income groups. This paper, therefore, aims to analyse the food-away-from-home expenditures of salary and wage earners' households by income decile group. The eating-out expenditure is modelled as a function of household income and then estimated using econometric methods such as regression, rolling regression, impulse response, and variance decomposition of forecast error. The regression results indicate that the higher the income decile group is, the lower the income elasticity of eating-out expenditure is, and the high income groups enjoy seasonal eating-out, the low groups do not. The coefficients of dynamic rolling regression are much smaller than those of static one, meaning that households tend to decrease the eating-out expenditure of their income. The impulse response analysis suggests that the eating-out expenditure increase of higher income groups lasts long relative to that of lower income groups. The variance decomposition, also, shows that household income plays much more important role in determining eating-out expenditure at the higher income groups than at the lower income groups.