• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.397-407
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• 2022

The informal economy is a large part of the urban economy. The informal economy accounts for about half of Pakistan's GDP. This research examined nine different areas of Rawalpindi's Central Business District's business sector (CBD). A survey of 404 respondents from 16 CBD marketplaces enables a comprehensive examination of who works in the informal and formal economic sectors, how much they earn, their goals, perception of their job, and their degree of similarity to the rest of the working population. Furthermore, the statistics illustrate the pro-cyclical connections between the informal economic sector and the formal economy. The Multinomial Logistic Regression (MLR) technique is used for the analysis. The MLR results indicated the informal economic sector holds positive relation with earning members in a family, business expertise, average business sale, and negative relation with education level, satisfaction with government tax policies, household expense, and average investment in the business. From a resilience standpoint, governance is considered an intentional collective action to preserve a stable system condition. Hence, the current study recommends tax reforms and government institution reorganization to mobilize the informal sector and make effective institutional governance.

• International Area Studies Review
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• v.16 no.3
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• pp.293-321
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• 2012

This study aims to examine how institutions has been formed to deepen interdependence and to keep check in trade on the border regions of East Sea Rim between the macro structure and micro behaviors. The transitional nations such as China, Russia, and North Korea adjacent to the East Sea Rim exhibits unique characteristics in terms of transaction governance structure. While the regional economy in northeast China is still overwhelmed by the stated-owned enterprises(SOEs), it strongly encourages the private economic trade to form institutional economy through the border trade port and peddler trade market. Thus trade is shaped by the mixed governance. In far east Russia, whereas the SOEs are in charge of exporting oil, gas etc., private firms and small scale traders are importing household items, so that it can also be called as the mixed governance, while informal social networks simultaneously work. In North Korea, for the trade, since the firms are mainly required to have the permits from the different levels of government, it is regarded as the hierarchical governance. The institutional economics seems to well explain the changing agencies and their influence on the trade among the regions in the East Sea Rim.

• Human Ecology Research
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• v.51 no.4
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• pp.425-438
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• 2013

Postponing childbirth is becoming increasingly common and consequently serious social problem in Korea, among married-working women. It is relatively unknown which factors determine married-working women's childbirth intention. This study investigated the effects of demographical factors, labor market factors and social support factors on married-working women's childbirth intention. Data from a national survey of married-working women (Korean longitudinal survey of women and families) are used in this study. The findings are as follows. First, logistic regression analyses that married-working women's childbirth intention could be predicted by 1) personal characteristic factors such as age (p <.000), education level (p<.029), parenthood (p<.000) monthly pay (p<.01); 2) husband support factors, such as satisfaction with division of household labor (p<.009), time with family (p<.049) influence of family life on work (p<.083); and 3) institutional support factors such as regular position (p<.015), regression analysis showed similar results. Personal characteristic factors and husband support factors had statistically significant effects on the number of future children. Personal value factors such as traditional family support (p<.05) proved to be the best predictor of the number of future children. Institutional support factors, on the other hand, did not have statistically significant effect on the number of future children. In a nutshell, personal characteristics and husband support proved to be the most important determinant of married-working women's childbirth intention. The findings suggest that family friendly policy and flexible labor market policy will impact married-working women's childbirth intention.

• Current Photovoltaic Research
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• v.9 no.2
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• pp.59-73
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• 2021

The purpose of this study is to develop a business model that efficiently converts diesel power generation systems to renewable energy microgrids (MG) in large-scale islands. Most of the previous studies on the conversion of renewable energy MG in islands had limitations dealing with efficiency from the perspective of suppliers. However, the microgrid has the characteristic of getting benefits through the interaction between the consumer and the supplier. In addition, the efficient MG business model from the perspective of new institutional economics is a structure in which consumers and suppliers jointly participate. Therefore, this study assumed that the MG business model in which the supplier's MG and the consumer's community solar participated would benefit all participants, and verified the assumptions using domestic island data. In terms of supplier investment, the cost of power supply (LCOE) of assumed model was calculated to be 14.0% lower than that of the diesel model and 3.7% lower than that of the supplier-only MG model. From the perspective of consumer investment, electricity bills are expected to be reduced by more than 200,000 won per household per year through self-generation of solar power. Social benefits are expected to reduce external environmental costs. The CO₂ emissions of the assumed model were calculated to be 39.5% lower than the diesel model and 1.5% lower than the supplier-only MG model. Therefore, the MG business model with consumer participation proposed in this study is expected to be an efficient alternative to renewable energy MG conversion in domestic islands, and is meaningful as an energy plan that improves the benefits of local residents.

• Korean Journal of Agricultural Science
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• v.22 no.1
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• pp.110-126
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• 1995

Korean economy has been developed successfully in the course of implementing the five year economic development plans since 1962. The gap of incomes and quality of life between rural and urban area has been widened and it made rural farm laborers drain to urban areas. Therefore the prevailing situation of labor shortage and wage hike in rural area has made farm management deteriorate in recent years. Under the internal and international unfavorable economic conditions, marginal farm land of 66.5 thousand ha has been idled as of end of 1993. The total area outside agricultural development zone with bad farming conditions including irrigation and drainage, and land consolidation for mechanization were estimated at 360.4thousand ha equivalent to 17.5% of the total farm land area in Korea. Considering the topographical conditions of marginal lands, the effective use of marginal lands should be studied from the view point of public interest rather than from the view point of individual economic conditions. Considering the present agricultural economic settings, such as price decrease, unfavourable benefits of farm products, labour shrotage, free trade of farm products and poor physical condition of marginal lands, the institutional and realistical measures for the effective utilization of idle and marginal land should be studied as soon as possible. Detail land use pattern should be surveyed in the areas outside agricultural development zone and have to be classified as orchard farms, grass land, fish culture farms, lawn and ornamental tree farm, sight seeing and leisure farms for urban peoples, special crops production farms and common farms to be developed for farm mechanization. According to the surveyed results, the expected utilization patterns of the idle and marginal lands could be considerd as village common use, farm land base development, leisure farm development, mutual complementary utilization between urban and rural areas, G't purchase and management, credit supply and new extension services, improvement of cropping patterns and sight seeing and leisure farm patterns. For the successful and reasonable management of the marginal lands, the actions such as institutional improvement, prohibition of idle marginal land, enforcement of activities of farm management committee members and land banking system of RDC including development and utilization systems should be included.

• The Journal of Industrial Distribution & Business
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• v.9 no.5
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• pp.63-72
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• 2018

Purpose - This work analyzes, in detail, the specification of vector error correction model (VECM) and thus examines the relationships and impact among seven economic variables for USA - balance on current account (BCA), index of stock (STOCK), gross domestic product (GDP), housing price indices (HOUSING), a measure of the money supply that includes total currency as well as large time deposits, institutional money market funds, short-term repurchase agreements and other larger liquid assets (M3), real rate of interest (IR_REAL) and household credits (LOAN). In particular, we search for the main explanatory variables that have an effect on stock and real estate market, respectively and investigate the causal and dynamic associations between them. Research design, data, and methodology - We perform the time series vector error correction model to infer the dynamic relationships among seven variables above. This work employs the conventional augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root techniques to test for stationarity among seven variables under consideration, and Johansen cointegration test to specify the order or the number of cointegration relationship. Granger causality test is exploited to inspect for causal relationship and, at the same time, impulse response function and variance decomposition analysis are checked for both short-run and long-run association among the seven variables by EViews 9.0. The underlying model was analyzed by using 108 realizations from Q1 1990 to Q4 2016 for USA. Results - The results show that all the seven variables for USA have one unit root and they are cointegrated with at most five and three cointegrating equation for USA. The vector error correction model expresses a long-run relationship among variables. Both IR_REAL and M3 may influence real estate market, and GDP does stock market in USA. On the other hand, GDP, IR_REAL, M3, STOCK and LOAN may be considered as causal factors to affect real estate market. Conclusions - The findings indicate that both stock market and real estate market can be modelled as vector error correction specification for USA. In addition, we can detect causal relationships among variables and compare dynamic differences between countries in terms of stock market and real estate market.