• International Commerce and Information Review
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• v.13 no.3
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• pp.77-95
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• 2011

This paper investigates the relationship between export and economic variables such as trade insurance, world economy activity, relative price, unemployment rate, exchange rate volatility, using monthly data. I employ Johansen cointegration methodology since the model must be stationary to avoid the spurious results. The results indicate that there is a long-run relationship between export and variables. Also, the empirical analysis of cointegrating vector using the CCR, DOLS, FMOLS reveals that the increases of trade insurance has positive relations and the increases of exchange rate volatility have negative relations with export. Especially, DOLS based on Monte Carlo simulations, of this estimator being superior in small samples compared to a number of alternative estimators, as well as being able not only to accommodate higher orders of integration but also to account for possible simultaneity within regressors of a potential system. This paper also applies impulse-response functions to get the additional information regarding the responses of the export to the shocks of the variables. The result indicates that export positively to trade insurance and then decay fast compare with exchange rate volatility. Consequently, trade insurance plays the role of trade policy for export promotion in Korea. Whereas, increase of exchange risk result in reduction of export. Therefore, the support of trade insurance should be expanded and the stabilization of the foreign exchange market must be done for the export promotion.

• Journal of the Korean Geotechnical Society
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• v.26 no.3
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• pp.59-68
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• 2010

Systematic risk management is necessary in grand scaled urban construction because of the existence of complicated and various risk factors. Problems of obstructions, adjacent structures, safety, environment, traffic and geotechnical properties need to be solved because urban construction is progressed in limited space not as general earthwork. Therefore the establishment of special risk management system is necessary to manage not only geotechnical properties but also social and cultural uncertainties. This research presents the technique analysis by the current state of risk management technique. Risk factors were noticed and the importance of each factor was estimated through survey. The systemically categorized database was established. Risk extraction module, matrix and score module were developed based on the database. Expected construction budget and time distribution can be computed by Monte Carlo analysis of probabilities and influences. Construction budgets and time distributions of before and after response can be compared and analyzed 80 the risks are manageable for entire whole construction time. This system will be the foundation of standardization and integration. Procurement, efficiency improvement, effective time and resource management are available through integrated management technique development and application. Conclusively decrease in cost and time is expected by systemization of project management.