• Journal of Distribution Science
• /
• v.16 no.12
• /
• pp.5-11
• /
• 2018

Purpose - We investigate the relationship between economic policy uncertainty (EPU) of the US and China and housing distribution economy in Korea using EPU indexes of two countries and the economic indicators in Korea. Research design, data, and methodology - We use the data such as the Korean housing price stability index (HPSI), housing purchase price index (HPPI), housing lease price index (HLPI), banking stock index (BSI), and consumer price index (CPI) with EPU indexes from January 1999 to December 2017. As an empirical methodology, we select the vector error correction model (VECM) due to the existence of cointegration. Result - As results of the impulse response function, the impact of the US EPU index has initially a negative response on the Korean HPSI, HPPI, and HLPI referring the housing distribution market including the economic variables, BSI, and CPI. Likewise, the impact of index in China has initially a negative response on economic indicators except the BSI in Korea. Conclusions - This study shows that the EPU index of the US has significantly negative relationships on all economic indicators in Korea. In this study, we reveal EPU of the US and China has dynamic impact on housing distribution economy returns in Korea.

• The Journal of Fisheries Business Administration
• /
• v.40 no.1
• /
• pp.27-49
• /
• 2009

Recently, the Korea's economy concerns the second money crisis because of the rapid increase of the exchange rate. The Korea's economy which is very dependent on the foreign trade is more sensitive to the change of exchange rates. There are many literatures which analyze the effects of variations of the exchange rates on the secondary and tertiary industries such as the manufacturing industry and IT(Information Technology). But there have been no studies which try to figure out the effects of variations of exchange rate on the primary industries, especially, fisheries' industry. Therefore this paper tries to analyze the effect of price competition structure and the change of exchange rate on foreign fisheries exporting prices in Korea's fisheries import market. This study utilizes OLS(Ordinary Least Squares Analysis) for the analysis in the market of frozen yellow corvina, hairtail, angler fish which are major fisheries importable in Korea. The results show that the exporting country which has the highest market share is more sensitive to the change of the exchange rates itself than that of the other exporting countries' price when it starts to set up its exporting price. And the exporting countries which have low market share are more sensitive to the change of price which country has the highest market share than that of price whose countries have low market share and those of their exchange rate. Also we can find out that the countries which have similar market share try to set up price-setting strategy in the opposite direction. In other words, one country tries to bid up its price, other countries response to rival country by lowering their prices. In the consideration of the fact that most exporting countries aren't affected by Korea's fisheries' prices, the exporting countries in Korea's fisheries import market are more sensitive to the prices of other exporting countries than that of Korea's. This result indicates that the price leader-follower model could be applicable to the Korea's fisheries import market.

• Journal of the Korean Society for Nondestructive Testing
• /
• v.8 no.1
• /
• pp.44-48
• /
• 1988

Quality and economy in radiography can be achieved by using the right techniques and the film material available on the market. Pre-packing with or without lead, under vacuum or not, play an important role provided the right kinds of procedures are applied. The author explains some of the ways used by different N.D.T.companies to achieve the best quality in an economical way.

• Proceedings of the Korean Society for Agricultural Machinery Conference
• /
• 1993.10a
• /
• pp.192-196
• /
• 1993

Following the transfer of China's economy from planning to market economy, it is necessary to develop and strength the service system for agricultural mechanization . The current situation of the service system was investigated and some suggestions are proposed in this paper.

• East Asian Economic Review
• /
• v.17 no.2
• /
• pp.161-206
• /
• 2013

Since the global financial crisis in 2008, the world economy has been suffering from the Great Recession characterized by high and persistent unemployment as well as drastic fall in asset prices. Real business cycle theory or new-Keynesian economics which has been the dominant paradigm in macroeconomics for the last four decades is unable to explain the high and persistent unemployment during the Great Recession. This implies that the economics of Keynes should be taken seriously again as a tool to explain the Great Recession. Farmer (2012) proposes a new way of interpreting the economics of Keynes by providing it with a solid micro-foundation based on labor markets with search. According to Farmer (2012), aggregate economic activity independently depends on the long-term self-fulfilling expectations about the stock prices. As a consequence, the government or the central bank should implement a policy that influences the public's confidence about the stock market. For an open economy like the Korean economy, it is not only stock price but also the price of asset such as house that matters more for the aggregate economic activity. Households in the Korean economy hold more than 70 percent of their wealth in the form of real estate asset, especially housing asset. This makes the public's confidence about the future prices of houses even more important in explaining the business cycles of the Korean economy. Policymakers should implement policies to improve the confidence of households about the housing market to recover from the recession caused by a fall in house prices. Little theoretical work has been done in explaining fluctuations in the aggregate economic activity from the point of house prices. This paper develops a small open economy model with traded and non-traded capital based on Farmer (2012) and shows that the aggregate economic activity also independently depends on the households' self-fulfilling expectations about the future prices of non-traded asset such as houses.

• Korean journal of communication and information
• /
• v.33
• /
• pp.193-225
• /
• 2006

This study attempts to reconsider the significance of political economy as a theory of knowledge and/or a method for explaining the convergence of broadcast and telecommunications. It is going to suggest what the domains of political economy should be in the future by both highlighting the characteristics and blind spots of previous studies and drawing some distinctive features of a new media environment. The principals and recent research trends in political economy are reviewed in order to make clear that the historical totality as a meta-framework of political economy needs to be reexamined in the era of convergence. Although the scope of political economy has been limited to criticize the structure of media ownerships, the study emphasizes the importance of media consumer theory. It also discusses the problems of free market theory, distortion of active media audience theory, and limitations and creative tension of audience commodity. Finally, this study stresses the significance of audience-oriented policies in order to make approach to practical sides of media politics.

• STI Policy Review
• /
• v.7 no.2
• /
• pp.60-84
• /
• 2016

What impact does the sharing economy have on existing businesses? This paper empirically examines how Uber transformed the taxi industry in New York City. Using a regression model controlling various potential influencing factors, we find no direct evidence that daily trips or revenue per taxi driver decreased since Uber entered the taxi industry. However, a closer investigation into other dimensions of taxi trips reveals that taxi drivers were forced to change their way of doing businesses to retain existing daily trips and revenue. Since Uber crowded out yellow taxis from the central area of Manhattan, yellow taxis responded by serving customers outside of the Manhattan borough. From enlarging their geographical coverage and serving customers that were previously ignored, yellow taxis were able to retain their previous level of taxi trips and market share. We also find that yellow taxis responded by improving their service quality to better serve customers' needs. Our result suggests that incumbents actively responded to Uber's entry and provided substantial benefit to consumers. Combined with the incumbent's response, the sharing economy transformed the existing market in a welfare-enhancing way. This paper provides managerial and policy implication on how incumbents affected by the disruptions of the sharing economy should respond. Even though it might be yet premature to examine the impact of Uber, results suggest that incumbents have effectively defended against Uber's entry so far. We conclude that the sharing economy and the existing economy can create positive value in our society through well-intentioned competition, complementing each other's weaknesses and strengths.

• International Journal of Computer Science & Network Security
• /
• v.21 no.9
• /
• pp.118-124
• /
• 2021

The article examines the formation of a competitive paradigm of economic security of industrial enterprises in the formation of a circular economy. The basic laws of industrial enterprises are formed, which determined the characteristics of competitive positions and threats. The basic competitive concepts and their application at maintenance of economic safety of the industrial enterprises in the conditions of formation of circular economy are described. Thus, the technological approach to the formation of a competitive paradigm is based on production technologies, opportunities for technological modernization and development of infrastructure and intellectual competencies. The institutional concept reveals the regulatory mechanisms for ensuring competitiveness through the protectionism of national industrial enterprises, standardization and regulation of market imbalances. The innovation-investment approach within the competitive paradigm is also manifested in the creation of competitive advantages due to the presence of active innovative developments and their commercialization, knowledge and competencies of staff, capitalization of intelligence and communications, constant updating of infrastructure and technologies. Collectively, innovation and investment effects on the level of economic security allow industrial enterprises to ensure resilience to increasing competition, the emergence of new market challenges in the formation of a circular economy. A strategic approach to the application of a competitive paradigm to ensure the economic security of industrial enterprises allows you to justify the prospects for development and design behavioral models to predict and assess potential threats. The concept of system management is based on the complexity of threat analysis, the integrity of the economic security system, system-forming functions and patterns of implementation of industrial development tasks in the formation of a circular economy. The application of the described concepts is formalized by the authors through the definition of the basic patterns, directions and characteristics of their impact on the elements of the security system of industrial enterprises in the formation of a circular economy.

• Journal of Ship and Ocean Technology
• /
• v.11 no.2
• /
• pp.34-45
• /
• 2007

Environment of marine transportation market is changing rapidly. Due to globalization of world economy, marine transportation of cargos, especially trade using container boxes, is increasing dramatically. Fierce competition in the global market of container transportation forces the shipping industry to seek the economy of scale to reduce transportation cost, and drives the merge and alliance of liner shipping companies. Mega-sized container ships, having capacity over 10,000 TEU, were introduced, and appeared recently, in order to reduce the unit transportation cost. Korean shipping and shipbuilding companies are competitive, and have considerable market share in the global market. Even though both industries are inter-connected through ships and have many common interests in order to enlarge the global market share, inter-relation between two industries is surprisingly insignificant. In this paper current issues in the process of environmental change of marine cargo transportation are reviewed, and inter-relation of shipping and shipbuilding industries is discussed. Suggestions for inter-related development of Korean shipping and shipbuilding industries are given, and means for mutually beneficial collaboration are suggested.

• International Commerce and Information Review
• /
• v.11 no.3
• /
• pp.169-189
• /
• 2009

The China's economy growth by expanded by almost 10 percent in the among ten year ago. Since the Korea and China ware established to 1992, The China has been Korea's most important trading partner. The subject of this study is to review export competitiveness in export entry type in the China's market of Korea company. This article measure the effects on Korea exporter interests of Korea's trade with china. This paper investigates the determinants of export competitiveness in export entry type in the China's market of Korea company. A survey questionnaire was sent to 200 sample in Korea's export company go to on the China market, and 137 usable responses were obtained. The 137 samples are analyzed with export competitiveness. This paper has there main a parts, Multiple regression results show that the export competitiveness are positively affected by the China Information, the China Culture Different, The CEO Mind and the China Trade System. However, The China Market Competitiveness, The China Law. Regime and manager's information do not affect in the export competitiveness.