• Asia-Pacific Journal of Business
• /
• v.10 no.4
• /
• pp.119-135
• /
• 2019

This study analyzes the effects of trade globalization and financial globalization on consumption classified by type(durable, quasi-durable, non-durable and service). On the other hand, trade globalization and financial globalization were decomposed into OECD common factor, regional factors, and the idiosyncratic country-specific factors by time-varying dynamic factor analysis. The characteristics of OECD common factor, regional factors, and the idiosyncratic country-specific factors of trade and financial globalization were analyzed. Furthermore, the influences of these factors on consumption by type were analyzed. The analysis shows that globalization has negative effects on consumption. In particular, we found out that the idiosyncratic country-specific factor of Korea in trade and financial globalization had a statistically significant negative effect on consumption. We can infer that the globalization affecting consumption can be attributed to the idiosyncratic country-specific factor, which is economic choice rather than uncontrollable global trend. Accordingly, to solve the sluggish consumption problem caused by globalization, it is necessary to require not only domestic consumption expansion policies but also the efforts to resolve economic polarization problems to be able to stimulate consumption.

• Proceedings of the Korean Society of Computer Information Conference
• /
• 2023.01a
• /
• pp.443-445
• /
• 2023

Following the global financial crisis, the global value chain contracted, and characteristics of "reverse globalization" of the economy and trade gradually emerged. This is due to the term "reverse globalization" referring to a shift away from globalization. Within a short period of time, the phenomenon known as "reverse globalization" developed as an inescapable obstacle, coinciding with the development and dissemination of the COVID-19 virus. At some time in the distant future, the "reverse globalization" of economic trade and the "globalization" of the digital economy will co-dominate the shifting trend of the global economic landscape. This will happen gradually over time. The goal of this research is to look at the minor changes that happened in the methods and techniques used by the economic mechanism known as "globalization against the flow." It employs Chinese smart manufacturing companies as a model and proposes a digital drive model to investigate the prospects and constraints of smart manufacturing technology enterprise innovation development under "reverse globalization," with the goal of establishing a digital innovation development path. The theoretical insights given in this study have the potential to serve as a reference for China as it attempts to build a new growth pattern based on a double-cycle and promote a new type of globalization.

• The KIPS Transactions:PartD
• /
• v.19D no.1
• /
• pp.29-38
• /
• 2012

Software globalization is becoming more important worldwide but little is known about how globalization technologies are actually carried out in the Korean software industry. In this paper, we have designed Globalization Quality Management (GQM) framework and applied the framework to the industry domestically for the first time. GQM provides a structured and effective way for software organizations to adopt globalization practices and evaluate the results. GQM consists of three main components: 1) software quality management process, 2) globalization support model and 3) globalization assessment model. This framework also supports both plan-driven and iterative/incremental development methods. On the basis of the GQM, a survey study was conducted among software engineering professionals, gathering the data from 31 IT companies across 7 large-scale projects in Korea. The result indicate that the evaluation score for globalization capability is 2.47 and global readiness is 2.55 out of 5 points. Also It said that internationalized product design (32.9%) and global/local product requirements analysis (28%) are needed to be taken care of first.

• Korean Journal of Social Welfare
• /
• v.44
• /
• pp.117-145
• /
• 2001

This paper attempts to assess the impact and implication of globalization on social welfare in Korea. It is no easy task to give an exact definition of globalization and the concept has been used in many different senses, that is, economic, social, cultural, political globalization. In particular, the meaning of globalization is connected to the rise and expansion of neo-liberalism. Globalization tends to undermine national welfare systems by the social dumping, race to the bottom, privatization of social services, labor market flexibility. On the other hand, in many studies the negative impact of globalization on social welfare has been questioned. Instead of end or erosion of the welfare systems, it is emphasized that competitiveness and welfare may go hand in hand. We investigate the question what and how the social welfare system in Korea has been changed in globalization process. In order to answer, this paper examines the changes in welfare ideology, welfare programs, social stratification level after economic crisis. The result of analysis is that in contrast to globalist expectations which is to retrench social welfare, paradoxically, the welfare system in Korea has been reinforced in globalization process. Therefore, the alleged impact of globalization on social welfare will be independent on the structure of domestic institution, political legacies, and on the socialization of global politics such as IMF, World Bank, ILO, UNDP, etc., on the welfare politics of stakeholders in national state.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.5
• /
• pp.11-19
• /
• 2021

The paper examines the nexus between economic globalization, financial development and institutional reform in India and Sri Lanka during the period 1990-2017. Using the panel ARDL method, the study finds the long-run relationship between financial development, economic globalization, and institutional reforms. From the short-run equation, the study finds the negative and statistically significant impact of economic globalization on financial development in India whereas Sri Lanka has a positive impact of institutional quality on financial development. Then, the study finds no short-run causality between financial development, economic globalization and institutional reforms. However, the study finds bi-direction strong causality between economic globalization and financial development. Further, the study finds uni-directional strong causality from institutional quality to financial development and economic globalization. Moreover, there is an existence of long-run causality between financial development, economic globalization and institutional quality. For the robustness of the results, the study considers the financial market as a proxy for financial development. Then, the study applies the panel ARDL test and find the consistency in the results. The policymakers in India and Sri Lanka should focus on institutional reforms so that it can reap the benefit of economic globalization. In turn, the quality of institutional reforms can thereby lead to financial development.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.111-122
• /
• 2021

The main purpose of the present research is to analyze the effects of trade, financial globalization, and technological progress on income inequality in the Indian economy over the period from 1982 to 2018. For this purpose, the study uses economic growth, financial globalization, trade openness, technological development, and economic inequality variables with appropriate proxies. The study employs the Auto Regressive Distributed Lag (ARDL) approach to co-integration and VECM based Granger causality approach to estimate both the short-run and long-run relationship and causality among variables. Using the ARDL bounds test, the study finds a long-run co-integrating relationship existing among the variables in the model. The study confirms the existence of a positive and significant impact of technological progress on income inequality. Further, globalization's limited impact reflects two offsetting tendencies; trade globalization is associated with a reduction in income inequality, while financial globalization is related to an increase in inequality. The results of VECM based Granger causality approach further confirm that technological progress, trade, and financial globalization causes income inequality both directly and indirectly through economic growth and inflation. In case of India, the results of this research can significantly facilitate stakeholders and policymakers in devising policies towards effective globalization and technological innovation for inclusive growth.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.4
• /
• pp.419-429
• /
• 2022

The aim of this research is to examine how globalization affects coffee exports in the producing countries. This research used secondary data obtained from the International Coffee Organization, Pen World Table, World Bank, Food and Agricultural Organization, and KoF Globalization Index to achieve its goals. We used secondary data from 1990 to 2018 from various foreign databases. The research used a two-step system GMM (sys-GMM) to analyze the effect of globalization on coffee export in twenty-four producing countries. We found that export lag, gross domestic product (GDP), exchange rate, and the political globalization index (PGI) positively and significantly impact coffee exports. Meanwhile, coffee exports were unaffected by the level of export prices and the human capital index. Surprisingly, the trade globalization index has a negative impact on coffee exports. This demonstrates the unpreparedness of coffee-producing countries to face tough competition in trade globalization. The political globalization index, the final variable, has a positive impact on exports. With the opening up of world politics, it seems that the environment of democracy in producing countries is increasing. As a result, governments in these countries have adopted a policy of aggressively supporting coffee exports.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.25 no.6
• /
• pp.1131-1142
• /
• 2001

This research attempts to evaluate the globalization concept and the development of advance progress of the Korean clothing and textile industry toward globalization. Globalization is driven by technology, which create the homogenization of tastes. In the business sector, globalization drives not only the physical presence in the foreign countries, but the way of looking at world markets and organizing as a basis for construction. The process of globalization of a company simply consists of exportation, establishment of foreign branch offices and overseas operations. Entrance to the overseas market can be divided into two categories, where one is based upon exportation method, and the other is based upon direct foreign investment. To observe the development of globalization of the Korean clothing and textile industry, a analysis of exportation and direct foreign investment by the industry was conducted. The result revealed the following: (i) The exportation and direct foreign investment of Korean clothing and textile industry has been focused in Asia, and the industry is influenced by cultural and geographic consciousness: and (ii) although the clothing and textile industry of Korea is still incomplete when compared to all industry, the study shows that globalization of the textile and garment industry is well underway.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.10
• /
• pp.15-27
• /
• 2022

Recently, as carbon dioxide (CO₂) emissions have increased overall and contributed to air pollution, and awareness of environmental degradation has grown. This study examines the impacts and causalities of economic globalization, economic growth, energy consumption, and capital formation on CO₂ emissions in China over the period 1971-2014. The vector error correction model (VECM) and Granger causality test on time-series data are employed to observe the interactions between CO₂ emission, economic globalization, and various economic factors, including economic growth, energy consumption, and capital formation, since China's early stage of globalization. The empirical results indicate the existence of bidirectional causalities from economic growth, gross capital formation, economic globalization, and CO₂ emission to energy consumption, and bidirectional casualty from energy consumption to CO₂ emission relationships in the short run. The findings of this study suggest that indirect bidirectional causalities from economic growth, economic globalization, and capital formation to CO₂ emission through energy consumption are observed. Moreover, economic globalization accelerates CO₂ emission in the short run but decreases it in the long run. To reduce CO₂ emissions, and to ensure sustainable economic growth and economic globalization progress, some crucial energy-saving and energy-efficiency policies, regulatory rules, and laws are recommended.

• Journal of Korea Trade
• /
• v.26 no.7
• /
• pp.127-144
• /
• 2022

Purpose - This study aimed to analyze the dynamic effects of progress in globalization on firm performance by employing individual companies' financial statement datasets. Design/methodology - The analysis leveraged the variables of operating revenue (OPRE) and pre-tax profit and loss (PLBT) as measurement variables for firm performance over 2011-2019. As a proxy variable for globalization, the trade index, a subordinate indicator of the KOF Globalization Index, was used. Through panel regression analysis, the relationship among those variables was ascertained, and the local projection (LP) method was subsequently utilized to identify dynamic effects. A subsample analysis was further performed by classifying companies based on their sizes and industries to determine the differential effects of globalization on each group. Findings - The panel regression analysis derived positive effects of an increasing degree of globalization on OPRE of Korea maritime and fishery firms. However, the impulse response functions, obtained from the LP, showed that in the short run, globalization affects PLBT negatively but in the long run, it gradually converted into a positive effect. In addition, according to the subsample analysis based on company size, the effects of globalization on OPRE became greater as each company became larger. Moreover, the industry-based analysis showed heterogeneous effects, depending on the industries in which the maritime and fishery companies operated. Originality/value - The analysis of the dynamic effects of globalization on firm performance, which revealed that the effects vary depending on the time points, is the important contribution of this study. The results also suggest that the effects of globalization vary depending on the company size and industry.