• Journal of Contemporary Eastern Asia
• /
• v.3 no.2
• /
• pp.1-6
• /
• 2004

On 27 June 2004, some one million voters went to the polls in Mongolia to elect 76 members of the Great State Hural, Mongolia's parliament. It was the fourth election held in Mongolia under the 1992 constitution. In the previous election, the former communist MPRP won a landslide, ousting the government of former democracy activists. Under the MPRP, Mongolia's economy performed extraordinary well. Surprisingly, the ruling Mongolian People's Revolutionary Party (MPRP) lost its two-thirds majority and half its parliamentarians in the 2004 election. But the Motherland Democracy Coalition (MDC), a coalition of Mongolia's most influential opposition parties, fell short of achieving a majority of its own. After the election, a grand coalition government was formed, paving the way for profound legal, social, and economic reforms.

• Environmental and Resource Economics Review
• /
• v.16 no.3
• /
• pp.607-627
• /
• 2007

By reviewing the current application of Environmental Fiscal Instruments in China, existing policy gaps and weakness, and the feasibility of using EFIs in China, this paper pointed out that the Chinese government faces an historic opportunity for promoting the development of a comprehensive environmental fiscal system. It is proposed that as far as possible the real economic and social costs of pollution and environmental degradation should be reflected in the prices charged for the use of environmental and natural resources. Chinese government should systematize existing environmental fiscal funds and policies, gradually setting up a framework for integrating environmental fiscal instruments into the public financial system.

• KDI Journal of Economic Policy
• /
• v.38 no.1
• /
• pp.53-70
• /
• 2016

This paper examines market concentration and its effect on competition in the Chinese commercial banking market. This study also investigates how changes in competition have affected the financial stability of Chinese commercial banks. To test the competitive conditions, we obtained the H statistic of the Panzar-Rosse model from a revenue function equation. The degree of financial stability is estimated by the Z-score formula. The Chinese banking industry has become an increasingly less concentrated market with an increased number of banks. Along with a decreased market concentration, competition in the Chinese banking industry has improved moderately. However, its market structure is still far from a competitive market. An individual bank's ability to earn higher markup or charge a higher net interest margin contributes to its financial soundness, although a higher degree of market concentration may have negative effect on the financial stability of the entire banking system.

• KDI Journal of Economic Policy
• /
• v.41 no.3
• /
• pp.39-75
• /
• 2019

An emphasis on public-private partnership (PPP) in the regulatory policy process can overcome the challenges hindering regulatory effectiveness with the emergence of fast developing technologies and new industries. This study attempts to evaluate quantitatively different aspects of institutional settings of South Korean regulatory policy in terms of stakeholder engagement as PPP, using evidence-based data released by the OECD. From the results of the principal component analysis, South Korea can be evaluated as being at a very good level overall in its institutional establishment. Nevertheless, the fact that the outcome of regulatory reforms in South Korea is still insufficient compared with this well-established system suggests that the country should concentrate on improving system operation. Consequently, this study makes policy suggestions to improve regulatory effectiveness through PPP by supplementing the facets that are well-equipped but not feasible with respect to regulatory policy cycle, regulatory governance, regulatory method, and conflict resolution.

• Acta Via Serica
• /
• v.5 no.1
• /
• pp.121-152
• /
• 2020

The article is a critical examination of the political developments in Armenia since the 'Velvet Revolution' of April-May 2018, when, on the wave of massive protests against the ruling regime, new young forces came to power raising amongst broad segments of population enormous enthusiasm and hopes about radical reforms that would lead to profound transformations in the political and socio-economic spheres. It contains a thorough analysis of underlying political processes in the country in an attempt to answer a number of topical questions, so important to get a deeper understanding of the situation in Armenia and in the South Caucasus region. Based on the analysis of the new authorities' performance against the acknowledged benchmarks and standards of democracy consolidation, such as: separation of powers, independence of the judiciary, good governance, transitional justice the author comes to the conclusion that they failed to achieve any breakthrough in the above-mentioned fields. On the contrary, as demonstrated by concrete examples, what occurred in Armenia was not a revolution but a mere regime change under the leadership of Prime Minister Pashinyan, who gradually has concentrated in his hands executive, legislative, and quasi-totality of the judicial branch of power.

• KDI Journal of Economic Policy
• /
• v.42 no.4
• /
• pp.27-58
• /
• 2020

This paper intends to examine the extent of the fiscal contribution of immigrants to Korea. According to this analysis, the aim is to derive implications pertaining to the direction of Korea's immigration policy as a response to fiscal problems caused by population aging. For this purpose, a macroeconomic model is designed to measure the lifetime net fiscal contribution of immigrants in Korea by visa type, age, and other characteristics. According to this analysis, the sum of the lifetime fiscal contribution for all immigrants in Korea is negative. This implies that immigration policy reforms that increase the inflow size while maintaining the current structure of the foreign population characteristics can rather worsen Korea's fiscal problems. This finding suggests that immigration policy reform may exacerbate Korea's fiscal soundness if it simply targets the maintenance of the numerical balance of the demographic structure.

• International conference on construction engineering and project management
• /
• 2005.10a
• /
• pp.869-874
• /
• 2005

Given the intense competition and slowdown in domestic demands, there is greater pressure on Singapore contractors to seek overseas markets for revenue and growth. This impetus, coupled with emerging economic reforms in the regional developing countries, has invariably created numerous opportunities for Singapore contractors. However, mixed results were reported on their overseas performance so far. Consequently, this paper aims to formulate a framework that would assist Singapore contractors to successfully export their services into developing countries. The proposed framework comprises ten critical success factors (CSFs), which are identified from in-depth interviews with eight Singapore contractors. These ten success factors are subsequently classified under three different stages, namely initial, entry and operational stages. Preliminary results show that Singapore contractors are most focused on the entry stage, with the highest number of CSFs.

• Korean System Dynamics Review
• /
• v.16 no.4
• /
• pp.51-81
• /
• 2015

The main purpose of this study is to seek better approach which explains reciprocal causality associated with factors causing social conflict and improving social integration respectively. Throughout this study, there are several important implications how social conflict can be solved in South Korea. In particular, government and policy makers in political sector should create an environment of social integration through political reforms by switching from vertical structure to horizontal structure and by encouraging ordinary people to actively participate in the policy-making processes and political activities. In economic sector, government and stakeholder associated with a certain economic issue should induce a change in the economic environment for social integration, focusing on distribution of wealth and employment stability. In social and cultural sectors, it is necessary to solve social and cultural problems (e.g., generation gap and conflict between the young and the old, multi-ethnic families, and lack of communication) by exploring better ways to establish an altruism and to interact with each other. In psychological sectors, PsyCap(Positive Psychological Capital) will help ordinary people to crate positive thinking and lead to social integration. For instance, political leaders having PsyCap are able to communicate with the people and can help the people to build positive main influencing on social integration. Finally, the improvement of the system is required because the improvement of insufficient system is the basis for reasonable and equitable social integration.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.4
• /
• pp.83-91
• /
• 2021

Health is an outset of psychological, social, financial, and physical state. Several macroeconomic factors are entangled with health and mortality. Infant mortality and life expectancy are two keyguard on demographic research context on last few decades. On the other hand, foreign inflows play an unprecedent role for raising economic circulation and providing more opportunities to build a better society. The study aims to investigate the relationship between foreign direct investment (FDI), economic growth, and Bangladesh's health. This study employs time-series data from 1980 to 2018. Results show, with Auto-regressive Distribute Lag (ARDL) model, that there is significant cointegration among variables. Foreign investment and economic output relate significantly and positively to health. On the contrary, education is quasi-linked with a different sign-on different model. For model validation, pitfalls of time-series multicollinearity, heteroscedasiticy, and autocorrelation are not present. Also, CUSUM and CUSUMSQ tests are validating the model as stable and fit for future prediction. Medical assessment and education need more attention from the government as well as the private sector. FDI can play a catalyst role for improving the health sector, raising opportunity in educating and creating a better lifestyle. In order to optimize foreign investment, the government should implement necessary reforms and policies.

• International Area Studies Review
• /
• v.21 no.2
• /
• pp.71-96
• /
• 2017

This study analyzes the process of overcoming the impoverishment due to the failure of North Korea planned economy through marketization. Recognizing the economic policy presented by the convergence of market and planned economy system as a economy system and focusing on the 7.1 Economic Management Measures and the 6.28 New Economic Management Measures. The marketization is classified the indigenous marketization (1990-2001), the marketization focusing on central distribution (2002-2011), the marketization focusing on production (2012-2017). The major events, the economic circular structure and the economic behavior were analyzed. Results showed as following: First, through the process of marketization starting from the expansion of farmers' market and the marketization focusing on distribution, the marketization focusing on production to the marketization focusing on finance. And as the evolution of it continues, to some extent a poverty has been overcomed. Second, corporate institutions, agricultural institutions, financial institutions and progress in becoming a market economy direction. A series of privatization starting from small one to large-scale one have been progressing. Third, in order to overcome the impoverishment completely. Through foreign investment the industrialization covering a wide range of industries are urgently needed, Domestic agricultural reform, enterprise reform, price reform, financial reform, financial reform, trade and direct investment, reform, reform, distribution, etc are needed. The economic reforms across almost all sectors are needed to be combined in a global economy Expanding employment, the acquisition of foreign currencies and the acquisition of technology in the process should also be realized. The direction of change of this series of economic structures has turned Public sector and centralized into Private sector and Decentralization.