• East Asian Journal of Business Economics (EAJBE)
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• v.1 no.2
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• pp.22-29
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• 2013

Purpose: The present study combines both tax structures and pension funds as the factors of economic importance and explores the impact of both (pension funds and tax rates) on the economic growth in context of OECD nations. Research Design, Data and Methodology: Last forty years data on these variables is taken for study purpose. A Sample size of thirty four nations which form the part of OECD nations was taken for study purpose. Results: Regression analysis (linear) was used to find out relationship between tax structure, Pension funds and economic growth. Conclusion: The results are important for nations increasing their expenditure for social contribution.

• The Journal of the Korea Contents Association
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• v.20 no.8
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• pp.583-597
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• 2020

This study analyzed how elderly people's perception of social welfare affects social welfare service and social welfare policy satisfaction by paying attention to the use of social welfare services and satisfaction with social welfare policies. In order to achieve this research goal, 465 people aged 60 or older who completed responses to the additional survey were collected and analyzed as research targets based on data from the Korea Welfare Panel, which is accumulated by the Korea Institute for Health and Social Affairs and Seoul National University's Social Welfare Research Institute. The results of this study are as follows. First, "Awareness of welfare for the elderly (recognition of welfare expenditure, recognition of welfare targets, recognition of welfare tax increases)" was found to have a negative impact on "use of social services." Second, "Awareness of welfare for the elderly (recognition of welfare expenditure, recognition of welfare targets, recognition of welfare tax increases)" was found to have a negative impact on "satisfaction with social welfare policies." Third, the impact of the recognition of welfare for the elderly on the use of social services was found to be different according to the demographic characteristics (education level, income level, educational background, gender). Fourth, according to the "population statistical characteristics (education level, income level, educational background, gender)" the impact of the recognition of welfare for the elderly on the satisfaction of social welfare policy was shown to be different. The implications of this study are that we looked at multi-dimensional welfare awareness and social service use experience together as factors affecting social welfare policy satisfaction. In other words, it is meaningful that the government focused on welfare awareness based on individual values and subjective perceptions as an influence on social welfare policy satisfaction, and sought practical alternatives to welfare policies and welfare sites by examining whether the experience of using social services in relation to welfare awareness and social welfare policy satisfaction among the elderly.

• 한국노년학
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• v.32 no.4
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• pp.1041-1061
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• 2012

The study looked into the effect of housing poverty on the depression level for the elderly in depth. In this study, we defined housing poverty as sub-minimum standard housing conditions, excess housing expenditure and housing instability. In order to verify the correlation of two variables, a mediating model structured by social welfare service was used which gave out the 4th Korea welfare panel data. When it came to our research methods, structured equation analysis was applied to verify the mediating effect and theoretical background. The results revealed that housing poverty of the elderly directly affected their depression level. Also the satisfaction of social service showed a partial mediating effect between housing poverty and depression level. But the mediating effect of social service experience between housing poverty and depression level was not statistically significant. The outcome of this study indicated the practical and social intervention to promote a mental health of the elderly by improving residential environment.

• Asia pacific journal of information systems
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• v.23 no.2
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• pp.67-86
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• 2013

This study first provides a stylized model that captures the essential features of the SC (Social Commerce) business and the competition process. The model focuses on the relationship between key decision issues such as marketing inputs and market value. As more SCs join the industry, they are inevitably faced with fierce competition, which may lead to sharp increase in the total marketing and advertising expenditure. This type of competition may lead the industry away from its optimal development path, and at worst, toward a disruption of the entire industry ecosystem. Such being the case, another goal of this study is to examine the possibility that the ToC (Tragedy of the Commons) may occur in the SC industry. We build game models, each of which assumes homogeneity and heterogeneity of SC providers, respectively, and derive explicit equilibrium solutions from both models. Our basic analysis presents Nash equilibria in both models and shows that SC providers are inevitably faced with fierce competition, which may lead to sharp increase in the total marketing expenses. We also compare the game outcomes with one with a hypothetical social planner who determines the total marketing level that optimizes the entire market value. Then, ToC can be defined to describe the situation where the total marketing efforts exceed the socially optimal level of marketing efforts. In both models, we examine the possibility of the ecosystem disruption and specify the conditions under which ToC may occur. However, the chance of avoiding ToC is higher with heterogeneous players than with homogeneous players. To supplement our analytical results, we develop a simulation model which incorporates a market dynamics based on the gap between actual marketing efforts and socially optimal marketing level. Simulation experiments present some lessons and insights which also confirm out findings from equilibrium analysis. For example, heterogeneity in SC providers alleviates the severity of ToC and makes it faster for survivors to escape from the ToC trap. As a result, the degree of industrial concentration tends to increase, which also explains the 'rich-get-richer' phenomenon observed in some empirical studies on the SC industry. Lastly, based on our analytical and experimental results, we come up with some measures to avoid ToC and overcome the shortcomings intrinsic to the current business model. And further discussions provide strategic implications and policy directions to overcome the possible trap of ToC in this ecosystem, and eventually help the industry to sustainably develop itself toward the next level. To name a few examples of policy measures, regulations on the marketing activities so that the overall marketing expenses cannot go beyond the socially optimal level; institutional guidelines and rules to straightening up the distortions in the way that SC providers view the marketing costs (the current marketing costs are underestimated, thereby encouraging SC providers to increase marketing expenditure); and so on.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.109-114
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• 2020

The aim of this study is to develop basic artificial neural network models in forecasting the in-sample gross domestic product (GDP) of Malaysia. GDP is one of the main indicators in presenting the macro economic condition of a country as set by the world authority bodies such as the World Bank. Hence, this study uses an artificial neural network-based approach to make predictions concerning the economic growth of Malaysia. This method has been proposed due to its ability to overcome multicollinearity among variables, as well as the ability to cope with non-linear problems in Malaysia's growth data. The selected inputs and outputs are based on the previous literatures as well as the economic growth theory. Therefore, the selected inputs are exports, imports, private consumption, government expenditure, consumer price index (CPI), inflation rate, foreign direct investment (FDI) and money supply, which includes M1 and M2. Whilst, the output is real gross domestic product growth rate. The results of this study showed that the neural network method gives the smallest value of mean error which is 0.81 percent with a total difference of 0.70 percent. This implies that the neural network model is appropriate and is a relevant method in forecasting the economic growth of Malaysia.

• Asian Journal of Business Environment
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• v.9 no.4
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• pp.23-28
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• 2019

Purpose - With rapid population aging in Korea, changes in the population structure will result in a rise in the fiscal burden. This paper investigates the effects of population aging on fiscal spending based on Korea's province data and country panel data from the OECD. Research design, data, and methodology - We use province-level fiscal data from Local Finance Integrated Open System and the Korean Statistical Information Service and also collect country panel data from the OECD. To investigate the relationship between population aging and fiscal expenditures, our analysis uses the fixed effects model. Results - The empirical analysis based on Korean local finance and country panel data show that population aging has a positive impact on social welfare expenditures and it also has a positive impact on spending related to children and the elderly, implying that population aging may lead to an increase in fiscal spending via an increase in social welfare expenditures and spending related to children and the elderly. Conclusion - These empirical results suggest that countries like Korea that expect to experience rapid population aging need to pay more attention to prepare for the expected increase in age-related spending in the near future.

• Journal of Korea Water Resources Association
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• v.47 no.2
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• pp.95-106
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• 2014

This paper analyses the economic effects of the water industry on the Korean economy by using Social Accounting Matrix (SAM). The SAM is constructed based on the Input-Output table, National account and Family income and expenditure survey for Korea in 2009. Through the SAM multiplier analysis, I estimate the effects of water investment. As the results, this study has found the followings. i) output multiplier effects of water sector are 5.300~7.741, ii) value added multiplier effects of water sector are 0.685~1.158, iii) income multiplier effects of water sector are 0.511~0.984, iv) redistributed income multiplier effects of water sector are -0.096~0.247. The results indicate that a significant influence on the industrial production and the household income in Korea.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.1
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• pp.193-203
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• 2013

The social welfare service is expanding to different field as the social welfare budget is increasing. By this opportunity, it needs to make clear of the basis of argument that the necessity of development of korean government's support and aid by social policy should be worked. Welfare economics perspective, this study used by the operating expenditure in welfare facilities for the elderly old people to effect social benefits to be gained, in other words, business value analysis. Local elderly people, provide opportunities to participate in the economic activities of the family welfare services offered to attainment of the elderly welfare policy, and provide disease prevention and health promotion opportunities, to enhance the satisfaction of life, including a wide range of impact will cause. In this study, elderly people use the welfare facilities for the elderly when they get the benefits by applying the AHP analysis techniques operating value was calculated. Elderly Welfare Center operated by the result of applying P senior welfare center Case of the metropolitan area value was estimated 248.4 billion won. Contribute to the effects caused by the cost factor of the analysis was 23.1% of the total 57.3 billion won. Independence elements 57.6 billion (23.2%), the analysis of the therapeutic elements 133.4 billion (53.7%) of the net was. The result of the study anticipates the role of basic research material for the necessity of intervention, support, and aid by the Welfare facilities for the elderly field at this point in time where the welfare budget policy in terms of universal social service is reinforced, rather than the trend, until recently, of realizing the Elderly welfare budget and service as Consumption expenditure and consumable benefits and the function of performing the effect and evaluation in tentative action of social conflict.

• Journal of Digital Convergence
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• v.16 no.4
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• pp.11-22
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• 2018

The Social Economy including social enterprise is solving various social problems of our society by innovative business Nevertheless, social economic companies have limited investment ingrowth due to insufficient capital. There are various attempts to solve the limit of capital investment by social finance. Social iImpact bonds that introduced performance-based compensation into financial system is recognized as a new means of procuring that capital lacks. 89 social impact bonds were issued in 19 countries around the world. )f the 22 social impact bonds reporting performance, 21 bonds report positive performance. The twelve bonds paid incentives to investors. It can be said that the government provides incentives to review the issuance of social impact bonds at the government level, which is difficult to expand the social welfare budget. This study confirmed the performance of the social impact bonds and confirmed the possibility of introducing it in korea. There is a limit to continuously increasing the government's social expenditure to meet demand. Therefore, in order to support the growth of social economy based on private investment, the issuing of social impact bonds should create a virtuous circle of social financial market.

• Korean Journal of Social Welfare
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• v.45
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• pp.7-39
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• 2001

This paper examines the effect of active labor market policy on the unemployment rates in 8 welfare states. This paper focuses on the following questions: what are the major predictors of the changes in unemployment rates?; and what is the effect of active labor market policy in reducing unemployment rates? Using the data from Comparative Welfare States Data Set by Stephens (1997), Key Indicators of the Labour Market by ILO (1999) and Social Expenditure Database by OECD (1999), this paper attempts to answer the above research questions. Fuller-Battese model, a data analysis method in pooled cross-sectional time-series analysis, is adopted to identify variables predicting changes in unemployment rates. This paper analyzes the predictors by using 3 analysis models about 2 types of unemployment (overall unemployment and long term unemployment). Results are as follows: (1) economic variable such as changes in GDP has a positive effect in reducing unemployment rates; (2) active labor market policy has a positive effect in reducing unemployment rates as well; (3) job brokering service among 3 major active labor market programs has a positive effect in reducing unemployment rates; and (4) there is an interaction effect between unemployment benefit level and active labor market policy in reducing unemployment rates. Through the empirical analysis, this paper provides valuable knowledge about effects of active labor market policy on unemployment in 8 welfare states and discusses implications for the active labor market policy in Korea.