• STI Policy Review
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• v.6 no.1
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• pp.54-69
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• 2015

Although there is progress in developing green sectors in North America and East Asia, the key challenge facing the expansion of economy-wide green innovation and structural change in these regions is the absence of relevant policy follow-up to the green stimulus enacted during the Great Recession. The boost to green sectors provided by such measures is waning quickly, given that much of the green stimulus focused on energy efficiency. The biggest obstacles to sustaining green growth in North America and East Asiaare major market disincentives, especially the under-pricing of fossil fuels and market failures that inhibit green innovation. A three-part strategy to overcome these obstacles would involve: first, removing fossil fuel subsidies; second, employing market-based instruments to further reduce the social costs of fossil fuel use; and third, allocating any resulting revenue to public support for green innovation and investments. Such a strategy would ensure that green growth is not about promoting niche green sectors but instigating economy-wide innovation and structural transformation in North America and East Asia.

• The Journal of Society for e-Business Studies
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• v.5 no.1
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• pp.135-158
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• 2000

In recent years, many retail businesses jumped on the Internet auction bandwagon and paid substantially high fees to learn and develop proper business strategies for this new environment. Unlike what most businesses in the real world presume, this research shows that discriminatory-price ascending-bid auctions in a digital economy might be not very beneficial for the sellers on the Internet, if sellers sell the identical digital products through both a typical posted-price market and an auction. Using an extensive technology infrastructure along with suitable incentives and rules for market agents, we found that a discriminatory-price ascending-bid auction, which is the most popular auction mechanism on the Internet, serves consumers better than it does the sellers or producers in the digital economy. That is, the average prices for digital goods in these auctions are substantially lower than the prices in a posted-price market. This shows that it is not so wise for sellers to jump on the bandwagon of Internet auctions, if there is a market place with posted-price mechanisms which sells comparable items, or if a seller does not have special advantages or strategies in this new market institution. Electronic market mechanisms provide powerful means of understanding and measuring consumer characteristics including willingness-to-pay and other demographics for sellers or producers. Many concern that sellers may extract the entire surplus from the market by using customization on the Internet, thus consumers will be worse off in this digital economy. We found that these sellers who can customize their products and prices fail to capture the whole consumers surplus and cannot exercise a monopoly. One major explanation for this phenomenon is that the competition among the sellers prohibits them from charging prices according to customers demand for each product, where switching from one seller to another is not so difficult for the customers, and reselling products among the buyers are prohibited.

• Journal of Information Technology Applications and Management
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• v.29 no.6
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• pp.23-42
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• 2022

This paper introduces two R&D policy instruments of public R&D and business R&D subsidy into the growth model of endogenous innovation simultaneously, and studies how they respectively affect economic growth, as well as how they interact with each other for the growth effects. Main results are as follow. The growth effects of each instrument are non-monotonous but various depending on the structure of economy. For example, the growth effects of public R&D become positive in the economy of more innovation-friendly structure such as larger marker size, more monopolistic market structure and more patient consumer, but the growth effects of business R&D subsidy become positive in the economy of less innovation-friendly structure such as smaller market size, more competitive market structure and more inpatient consumer. Meanwhile business R&D subsidy does not affect the growth effects of public R&D, but public R&D affects the growth effects of business R&D subsidy. Particularly, in the economy of less innovation-friendly structure public R&D becomes complimentary to business R&D subsidy.

• Journal of Distribution Science
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• v.15 no.2
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• pp.21-26
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• 2017

Purpose - Sharing economy is a promising research topic as a complementary approach for solving difficult issues resulting from market economy. Motive factors for consumer participation in sharing economy are necessary to facilitate the growth of sharing economy. This study analyzes motives for participating in sharing economy using samples from a car sharing service in South Korea. Research design, data, and methodology - Four hypotheses drawn from a new research model integrating the relationships between economic and social value, social value, and the intention to use sharing economy services were proposed. 292 valid samples were collected from Socar users in South Korea. Multiple regression analysis was employed to test the hypotheses. Results - An empirical study identified the importance of convenience and time savings as determinants of intention to use continuously a car sharing service. Cost savings and social value did not significantly influence the intention to use car sharing service. Conclusions - The present study implies that managers working in sharing economy don't have to miss a role of convenience. Although a new finding implies that convenience is an important factor influencing car sharing service, the present study has a limitation of generality that samples are mostly collected from the age range of 20 to 30 years.

• Journal of the Korean Institute of Rural Architecture
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• v.13 no.4
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• pp.43-50
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• 2011

Activation of conventional market in small town is important in the reinvigoration of local economy as an economical center. The revitalization of local economy is closely related to the fosterage of conventional market. So the local government is trying to activate the market. However, the projects for the activation of conventional market are mostly centered on the modernization of facilities which is carried out at urban districts. Those facilities-centered plans, being carried out at urban district, lack the consideration of the peculiarities of rural districts and the regional conditions of the conventional market in small towns. And some projects for the modernization of facilities produce negative results. Especially the conventional market in small town shows a spatial structure of a five-day market and a market place and it was influenced by the spatial relationship between the permanent market and periodic market. So analyses on the spatial lay-out and form, store facilities, spatial distribution of types of business, spatial utilization on market place are needed to improve the physical environment of the conventional market. In this context, the study analyzed systematically the space of an old and lagged Hongseong conventional market located in central district of a small town. And It is expected that the results use as a basic data to establish effective space improvement plan for conventional market in small town.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.119-139
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• 2023

Purpose - This study is the first field study about the insurance market in North Korea. By analysing the information and the data collected from the visit to North Korea, we introduced the most recent change on the insurance market in North Korea and analyzed the impact of the change of economic policy on the insurance market. This study may enhance the understanding the current situation and provide expectations on the future of the insurance market in North Korea. Design/methodology/approach - This study is based on the field study doen in 2018 to Pyeong Yang, the capital of North Korea, The most information was collected from the legal documents, news papers and academic reports. Findings - During his regime from the year of 2012, Kim Jong Eun, the Supreme Leader of North Korea, initiated the drastic change in economic renovation policy in North Korea by shifting the economic system from the commodity economy to the market economy. Due to the policy, the insurance market in North Korea became marginally privatized and the market of life insurance contracts is expected to be increased if North Korea may resolve the political conflicts between North Korea and the United States and its allies in Asia mainly due to its nuclear testing. Research implications or Originality - Until now, very few studies have been done regarding the financial market in North Korea, especially about the insurance market. Our study provides unique information on the insurance market in North Korea because all the information and its implications are based on the field study in 2018.

• KDI Journal of Economic Policy
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• v.44 no.3
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• pp.75-99
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• 2022

This paper analyzes job creation when the Korean economy transitioned to a knowledge economy from the 1990s to the 2010s. During this period, the ratio of service to manufacturing jobs increased, knowledge intensive industries grew, and job creation became geographically concentrated around Seoul. The changes slowed down in the 2010s, and overall job growth weakened. To analyze the effect of job creation driver industries during this period, the main part of which are knowledge intensive tradable service industries, on local service job creation, I use a modified version of the local labor market of Moretti (2010). I analyze the job changes during 1995-2005 and during 2006-2016 in 237 Si-Gun-Gu areas in the Census on Establishments datasets. I find that one manufacturing job creates 0.5 local service jobs and that one tradable service job creates 1.1 jobs within Gu areas of metro cities and 2.3 jobs in Si-Gun areas. The job creation relationship between the tradable and local service sectors was not altered in this period. As more jobs were created in the tradable sector driven by the transition to a knowledge economy, job creation overall remained active, with the opposite also being true.

• East Asian Economic Review
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• v.27 no.2
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• pp.115-143
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• 2023

In this paper, we address how the monetary authority should react to financial market status and exchange rate movements in a small open economy New Keynesian model with financial frictions due to asymmetric information between savers and borrowers. We show that the small economy with financial frictions is more susceptible to the exogenous shocks under the fixed exchange rate regime than under the flexible exchange regime. The small economy experiences a more prolonged and deeper economic recession under the fixed exchange rate regime than under the flexible exchange rate regime. The monetary policy taking into account external finance premium is better than the interest rate rule without considering the financial market status.

• Knowledge Management Research
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• v.1 no.1
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• pp.47-64
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• 2000

As the Knowledge Economy grows bigger, studies and practices of knowledge management flourish in almost every organizations. Yet, the studies of fundamental relationships between knowledge and organization have not been sufficiently developed. It is partly because current knowledge management mainly focus on the technical aspects of the theme. This paper tries to find the possible organizing principles and theoretical foundations of knowledge-intensive organizations through the perspective of knowledge market and knowledge community. Based on the differentiation of "knowledge" and "knowing", the author draws several propositions about knowledge creation and knowledge use. Then, the author relates these propositions to the design and implementation of two theoretical models of organizations, i. e. knowledge market and knowledge community. Major claims are: 1) Knowledge use and knowledge creation process are conceptually separable, so that different conceptual models (market & community) need to be applied. 2) Since knowledge use and creation should be integrated, organizations in the Knowledge Economy should be the efficient knowledge market and, at the same time, knowledge community with care and cooperations. 3) The network of independent small KIFs(knowledge-intensive firms) could be considered as the possible organizational model of the future.

• The Journal of Industrial Distribution & Business
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• v.10 no.9
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• pp.19-24
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• 2019

Purpose - In the digital era, technology advancement enables goods and services to be produced more efficiently but also create economy risk in the global economy including Indonesia. Previous studies stated that the risk can be mitigated through export diversification. This study investigates strategy to expand the markets for existing products and explore the potential market. Research design, data, and methodology - The criteria was followed using a review and considerations combination through the Focus Group Discussion (FGD) to determine the priority product in trading house of Indonesia. This study implemented market share to explore those products' markets and compare it to other ASEAN countries. Results - The Indonesian potential products are T-shirts, singlets and other vests of textile materials, knitted or crocheted (excluding cotton); food preparations; medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes; soap in the form of flakes, granules, powder, paste or in aqueous solution; and cocoa powder, not containing added sugar or other sweetening matter. The market analysis also showed that Indonesia still had not optimally accessed yet the largest market in the world for each product. Conclusions - The government should focus more on increasing the competitiveness of those products, particularly in those global marketplaces.