• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.379-385
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• 2020

The effect of research and development (R&D) expenditure on firm output is an interesting topic, but hardly explored in developing countries due to the unavailability of data. This study investigates this topic in the context of Vietnam by utilizing a novel dataset of 343 firms listed on the Vietnam Stock Exchange in the 2010-2018 period. The effect of R&D expenditure is examined under the production function framework. In order to obtain the robustness of the quantitative results, we estimate the production function with two coherent techniques including the OLS and 2-SLS. An instrumental variable regression technique is adopted to avoid the endogeneity problem between R&D expenditure and other variables. In our empirical analysis, we find that R&D expenditure has a positive and significant impact on output growth. The finding is robust in both OLS and 2-SLS frameworks. Besides, the output elasticity to R&D expenditure of our result is much higher than the estimated elasticity of other countries. The results imply that a 1% increase in R&D expenditure in Vietnam will help to expand the output more than a 1% increase in R&D investment in other countries. The findings from our paper provide important implications for firm managers, investors, and policymakers in Vietnam.

• Journal of the Korean Home Economics Association
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• v.36 no.1
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• pp.129-142
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• 1998

The purposes of this study were to identify education expenditure and to analyze contributing factors to total education expenditure for two children among married couples. For these purposes, total sample of 1,256 married couples those having two children of both pre-school aged and school aged were selected, and total sample was divided into four groups by first child's school aged; those were pre-school aged(375), elementary school aged(385), middle & high school aged(248) & college aged(248). Statistics used for the analysis were frequencies, means, percentile, and tobit and OLS analysis. The results were as follows. First, the households those having the first child of pre-school aged didn't spent for public education expenditure, while public education xpenditure of school aged increased continuously. The households having the first child of high school aged spent the most private education expenditure among four groups, however, total education expenditure of the households having the first child in college aged spent the most education expenditure were household head's age, family size, home ownership and financial asset amount, and elementary school-aged's factors were household head's age, education level, home ownership and total household income. Also, household head's education level, wife's expectation of future economy, residence, total household income had significant effects on total education expenditure in middle and high school-aged, and household head's job, home ownership, contact with neighborhood, residence and Engel's coefficient were significant variables in college aged.

• 한국사회복지학회:학술대회논문집
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• 2005.04a
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• pp.387-411
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• 2005

The purpose of this article is to analyse the expenditure structure of the welfare mix; in order to grasp the holistic feature of the Korean social welfare. Most of all, the article attempts to elaborate the estimation methods of social welfare expenditure by including the components from which has been excluded so far - indirect tax expenditure of the government, nursery payments of households, life insurance pay-outs for survivors, inter-household private income transfers and the value of caring work of the family. In so doing, the article estimates that the total social welfare expenditure including state, enterprise, market, NPOs and family reached at 24.7% of GDP in 2000, which is approximately 2.5 times more than public social welfare expenditure. It implies that non-state, private sectors dominates the structure of social welfare provisions in Korea. In addition, based on the analyses of the expenditure structure, the article defines the main feature of Korea's welfare mix as the 'mixed structure of the welfare mix dominated by the protective family', or 'expanded public sector, relatively limited market, and protective family'. Such a family-dominated welfare mix structure in Korea indicates that the fundamental source of solidarity of the Korean social welfare system is family and, therefore, the welfare regime of Korea can be classified as 'Conservative'.

• Health Policy and Management
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• v.20 no.3
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• pp.36-57
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• 2010

The degree of income inequality deepened by health care expenditure was useful in assessing the health security level. This exploratory study was conducted to provide a basic evidence to prove the necessity of reinforcement the benefit coverage of South Korea's health security systems. Data from the Household Income and Expenditure Survey of Korea and Luxembourg Income Study were used. Income inequality indices before and after deduction of health care expenditure were computed, and the degree of the increase in the indices was compared among 13 countries. The degree of decrease against the effect of income inequality reduction policies by health care expenditure was determined. The relationships between the national characteristics and the increase in income inequality were examined. In South Korea, all income inequality indices increased after deducting health care expenditure, but the difference was not high compared to the mean of 13 countries. However, the degree of decrease against the effect of income inequality reduction policies by health care expenditure was high, compared to the mean of 13 countries. The proportion of public sector spending on health care proved to be statistically significant with the increase of income inequality indices (p<0.05). In the context of the continuous increase in health care expenditure, if benefit coverage of health security systems is not reinforced, income inequality will all the more increase due to health care expenditure. In the establishment of the policies for reinforcement of the benefit coverage, income inequality after deduction of health care expenditure should be continuously monitored.

• Korean Journal of Construction Engineering and Management
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• v.6 no.6 s.28
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• pp.171-180
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• 2005

Public rental housing is constructed, owned, and managed by the public sector. The public institution for the public rental housing controls the whole building life cycle from the construction to the demolition. The construction company for the house built for sale is strongly interested in the cost for the initial investment, while the public institution is more focused on the maintenance cost for the preservation of the buildings Nevertheless, the maintenance cost of the public rental housing has been only managed as the accounting factor without the systemic research and analysis on the actual condition. This paper shows how expenses are related to the degree of obsolescence and presents the differences of the maintenance costs by the housing area and expenditure trends (vs time) of the maintenance costs, through analyzing time series data of public rental housing maintenance cost. Further, this paper helps understanding the causes of the differences of the maintenance costs by housing areas and characteristics of the expenditure trends. After all, this paper contributes to the improvement of the reliability and the practicality for the Life Cycle Cost modeling and the maintenance cost estimating.

• Health Policy and Management
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• v.12 no.1
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• pp.1-20
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• 2002

National health expenditure account describes expenditure flows both public and private within the health sector. It describes the sources and uses and channels for all funds utilized in the health sector and is a basic requirement for optimal management of the allocation of health sector resources. Constructing a national health expenditure account should begin with sound estimates. This paper thoroughly examines the sources and discusses the estimation methods, and provides the national health expenditure account of Korea by function and source of funding category The national health expenditure account produced in this parer has, however, some drawbacks and followings are proposed fur enhancing the comprehensiveness and consistency of the account. First, comparable data un health related expenditures of local government and private sector should be produced because data sets on the sectors are very limited. Second, we need further study un overall scope and boundaries of health expenditure estimates in order to improve compatibility of other main aggregates.

• Health Policy and Management
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• v.17 no.3
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• pp.50-67
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• 2007

This study investigated income elasticity of household health expenditures and differences by income level from 1998 through 2003. Data from Korean Labor and Income Panel Study was used for empirical analyses. To estimate the income effects on health expenditure, the two-part model was employed: a logistic regression for any health expenditure-first part-and a Ordinary Least Square regression for health expenditure conditional on any spending-second part. To estimate income elasticity, both health expenditure and income were log transformed in the second part. In addition, the random effects(RE) model was used for a longitudinal panel which was continuously followed from 1998 through 2003 to estimate income effects on health expenditures controlling for within and between unobservable household characteristics. Furthermore, difference in income effects on health expenditure across income level was investigated. Although income slightly increased odds of any health expenditure, there was not no table differences across income level. Income significantly increased health expenditures during study period(overall income elasticity: about 0.2) and the highest 20% income group presented higher income elasticity than the lowest 20% income group.

• Land and Housing Review
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• v.2 no.4
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• pp.345-353
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• 2011

This paper is focused on the sustainability of public rental housing policy. We have analyzed the general fiscal conditions of central government, the public welfare fiscal conditions, the public expenditure on rental housing, and the Korea Land & Housing Corporation (LH) financial structure. Central government fiscal conditions is controlled by the midium-term fiscal operation plan(2010~2014) and fiscal rules. And the fiscal mandatory expenditures on welfare is increased rapidly by the expansion of beneficiaries, but the fiscal discretionary expenditures particularly on public rental housing can be gradually cut down. LH, the dominant agency responsible for affordable housing, is now confronted with financial distress accruing to excessive burden for public rental housing construction. As a result this paper, we find the discrepancy between the fiscal conditons and public rental housing policies. We suggest the fiscally sustainable rental housing policy. Firstly, the construction plan should be realized reflecting the market and fiscal conditions. Secondly, the provsion and financing system of rental housing should be rebuild within the government fiscal condtions and financial ability of LH.

• Journal of Preventive Medicine and Public Health
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• v.46 no.1
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• pp.1-9
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• 2013

Objectives: We examined the association between social expenditures of the local government and the mortality level in Korea, 2004 to 2010. Methods: We used social expenditure data of 230 local governments during 2004 to 2010 from the Social Expenditure Database prepared by the Korean Institute for Health and Social Affairs. Fixed effect panel data regression analysis was adopted to look for associations between social expenditures and age-standardized mortality and the premature death index. Results: Social expenditures of local governments per capita was not significantly associated with standardized mortality but was associated with the premature death index (decline of 1.0 [for males] and 0.5 [for females] for each expenditure of 100 000 Korean won, i.e., approximately 100 US dollar). As an index of the voluntary effort of local governments, the self-managed project ratio was associated with a decline in the standardized mortality in females (decline of 0.4 for each increase of 1%). The share of health care was not significant. Conclusions: There were associations between social expenditures of the local government and the mortality level in Korea. In particular, social expenditures per capita were significantly associated with a decline in premature death. However, the voluntary efforts of local governments were not significantly related to the decline in premature death.

• Journal of Preventive Medicine and Public Health
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• v.25 no.3 s.39
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• pp.303-311
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• 1992

It is very important to estimate the future medical care expenditure, because medical care expenditure escalation is a big problem not only in the health industry but also in the Korean economy today. This study was designed to project the medical care expenditure in view of population age change. The data of this study were the population projection data based on National Census Data(1990) of the National Statistical Office and the Statistical Reports of the Korea Medical Insurance Corporation. The future medical care expenditure was eatimated by the regression model and the optional simulation model. The significant results are as follows : 1. The future medical care expenditure will be 3,963 billion Won in the year 2000, 4,483 billion Won in 2010, and 4,826 billion Won in 2020, based on the 1990 market price considering only the population age change. 2. The proportion of the total medical care expenditure in the elderly over 65 will be 10.4% in 2000, 13.5% in 2010, and 16.9% in 2020. 3. The future medical care expenditure will be 4,306 billion Won in the year 2000, 5,101 billion Won in 2010, and 5,699 billion Won in 2020 based on the 1990 market price considering the age structure change and the change of the case-cost estimated by the regression model. 4. When we consider the age-structure change and inflation compared with the preceding year, the future medical care expenditurein 2020 will be 21 trillion Won based on a 5% inflation rate, 42 trillion Won based on a 7.5% inflation rate, and 84 trillion Won based on a 10% inflation rate. Consideration of the aged(65 years old and over) will be essential to understand the acute increase of medical care expenditure due to changes in age structure of the population. Therefore, alternative policies and programs for the caring of the aged should be further studied.