• Asian Journal of Innovation and Policy
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• v.6 no.1
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• pp.94-110
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• 2017

This paper approaches knowledge capital as social infrastructure and analyzes its impact on economic growth. To this end, we constructed a panel dataset for 120 countries for the years 2000-2014 and estimated the economic growth function using the panel analysis. As proxies for knowledge capital, we used the R&D expenditure per capita and the number of patent applications per thousand people in each country, both measured in stock. Economic growth was measured in terms of real GDP per capita and real value added per capita at the industry level. The empirical findings demonstrate that knowledge capital accumulated in a society significantly promotes economic growth. Especially R&D stock increases real value added per capita in all industries-not only manufacturing, but also services and agriculture-implying substantial inter-industry spillover effects. The findings of this study suggest that knowledge capital boosts economic growth as core social infrastructure.

• 한국신재생에너지학회:학술대회논문집
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• 2011.05a
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• pp.160-160
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• 2011

In this work, magnesium (Mg) nanoparticles were plated onto the surfaces of multi-walled carbon nanotubes (MWNTs) in order to investigate the effects of their presence on the high pressure hydrogen storage behaviors of the resultant Mg/MWNTs. The structure of Mg/MWNTs was characterized by X-ray diffraction (XRD) and transmission electron microscopy (TEM). The pore structure and total pore volumes of Mg/MWNTs were analyzed by $N_2$/77 K adsorption isotherms. The hydrogen storage behaviors of the Mg/MWNTs were investigated by BEL-HP at 298K and 100 bar. From the results, it was found that Mg particles were homogeneously distributed on the MWNT surfaces. The hydrogen storage capacity increased in proportion to the Mg content. It can be concluded that Mg paricles play an important role in hydrogen storage characteristics due to the hydrogen spillover effect.

• 제어로봇시스템학회:학술대회논문집
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• 1989.10a
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• pp.255-259
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• 1989

A suboptimal output feedback controller is designed and applied to a flexible rotor bearing system in order to control the unstable or lilghtly damped vibrations. The reduced order model is the truncated modal equation of the distributed parameter system obtained through the singular perturbation. The instability problem arising from the spillover effects caused by the uncontrolled high frequency modes is prevented through the constrained optimization by incorporating the spillover term into the performance index. The efficiency of the proposed method is demonstrated experimentally with a flexible rotor by using a magnetic bearing.

• East Asian Economic Review
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• v.22 no.4
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• pp.507-529
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• 2018

This paper evaluates the whole impact of quantitative easing on inflation in Korea implemented by the central banks in four major advanced economies, the U.S., Euro Area, U.K. and Japan. According to the analysis employing a VAR-X model with the security holdings of those central banks an exogenous variable, quantitative easing is estimated to exert downward pressures on inflation in Korea. Considering the impulse responses of Korean macroeconomic variables to a quantitative easing shock, the spillover effect is transmitted through exchange rate channel while trade channel turns out to be ineffective. In an additional analysis assessing the impact of each quantitative easing program of the central banks, only those of the Fed and European Central Bank are estimated to be significant. The empirical results prove to be robust even if using long-term interest rates as an alternative indicator of quantitative easing.

• Journal of Technology Innovation
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• v.8 no.1
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• pp.73-94
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• 2000

The main objective of this research is to examine the spillover effects of technological knowledge from IT industry to other industrial sectors and, based on empirical findings, to draw policy implications and suggest policy directions. To this end, we divide IT industry into IT equipment and IT service, assuming that these two sub-sectors are considerably different each other in terms of technology knowledge flow. Other industries are classified into 17 different sectors based on the KSIC of 1990. As the proxy measure of technological knowledge, the notion of R&D stock is employed. The Input/output(I/O) Table is used to define the inter-industrial flow pattern and to draw the knowledge flow matrix. As the research methodology, cost function model is employed to gauge the spillover effects of technological knowledge of IT industry. Based on the results of analysis, it is found that the economic impact of technology diffusion also exhibits a different pattern between IT equipment and IT service. The diffusion of IT equipment tends to show labor-substitution effect whereas IT service displays labor-creation effect. This fact should be considered in devising industry, education, and labor policy. The expectations from this research are as follows. First, the sectoral pattern, difference between IT equipment and service in particular, identified from this research may shed light on the sector-specific policy direction. It is emphasized that a sector-specific approach, rather than an aggregate approach, is relevant for formulating IT policy. Second, it is expected that the importance of technology diffusion programs and policy measures are recognized among policy makers in IT industry.

• Journal of Distribution Science
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• v.15 no.1
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• pp.15-20
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• 2017

Purpose - Other customers within the same service environment do influence a customer' attitude and behavior toward a service firm. Specially, other customers' misbehaviour and various service problems stemmed from them could make the other customers suffer some bad experiences. However, there are few studies to answer how the spillover effect of a service failure arisen from other customers' misbehavior. This study is aimed to examine how service failure due to the dysfunctional behavior of other customers has negative effects on customer evaluation with the service provider. Research design, data, and methodology - Data were collected from a survey based on consumers' retrospective experiences in airline service context. The hypothesized relationships were tested conducting structural equation modeling. Results - Our results show that the attribution of a firm responsibility for other-customer failure has a positive influence on customer's recovery expectation, in turn, it is negatively related to customer satisfaction. Furthermore, perceived service provider's efforts positively influence customer satisfaction. Conclusions - Although a service failure was caused by other customer's misbehavior, employees should be able to alleviate any bad feelings of the affected customers. Furthermore, service providers should provide proper recovery efforts for solving problems caused by the other customers for the wounded customers.

• KDI Journal of Economic Policy
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• v.34 no.1
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• pp.87-133
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• 2012

This paper consists of two parts. The first part introduces a simple endogenous growth model. It is based on Romer(1990), but extends the original model by incorporating individual workers skill heterogeneity. Based on the heterogeneity, the model has a labor allocation mechanism between skilled (research) and unskilled (production) sectors. Different from Romer(1990), the labor allocation is determined by both demand and supply conditions of the economy. The endogenous growth model presented in this paper shows how the shape of the distribution of human capital affects on the labor allocation, hence on the employment structure, wage profile and economic growth. The model can be extended to an open economy. With the heterogeneity, the extended model explains distributional effect as well as growth effect of the economic openness. The second part provides empirical evidence in support of the extension part of the model presented in the first part. Based on the endogenous growth framework as proposed by Romer(1990) and Rivera-Batiz and Romer(1991), the model explains how economic openness affects labor allocation between skilled and unskilled sectors. According to the model, economic openness can affect labor allocation through two channels; knowledge spillover and specialization. First, the openness promotes knowledge spillover and hence increases the productivity of workers in the skilled sectors. This makes the economy employs more workers in the skilled sector. On the other hand, the openness causes global specialization which leads more employment in the skilled sector for the developed countries but at the same time, leads less employment in the skilled sector for the developing countries since the developing countries have comparative advantages in the unskilled sector. The empirical results obtained using cross country panel data in this paper support these two effects of knowledge spillover and specialization.

• Knowledge Management Research
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• v.10 no.3
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• pp.115-132
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• 2009

This paper makes an analysis of economic spillover effects of credit guarantee by linking the remainder of guarantee according to industries from 2003 to 2006 in this study. Specifically, total remainder of guarantee in 2006 is approximately 3922 billion and 600 million won on the basis of unchangeable price in 2003, and each funds becomes the input of the last demand in 27 industries over the cow1try and, thereby, induces production, added value, and the effect of employment. The last demand according to industries shows that a lot of funds have been supported to the manufacturing industry for about 1200 billion won, the wholesale and retail for about 1299 billion and 500 million won, food and lodging industry for about 144 billion and 100 million won, education and health care industry for about 132 billion and 600 million won, and social and other service industry for about 339 billion and 300 million won. The spillover effect about the remainder of guarantee in 2006 classified by industries over the country on the basis of production shows the high effects on the manufacturing industry for 37.8%, 2625 billion and 90 million won, the wholesale and retail for 20.7%, 1439 billion and 290 million won, food and lodging industry for 9.4%, 654 billion and 570 million won, real estate and business service industry for 9.2%, 637 billion and 310 million won, social and other service industry for 5.3%, 369 billion and 90 million won, and education and health care industry for 2.9%, 199 billion and 300 million won of the effect causing production over the country, 6945 billion won in order. The effect causing added value shows high spillover effect on the wholesale and retail for 36.7%, 1186 billion and 830 million won, the manufacturing industry for 25.8%, 831 billion and 500 million won, food and lodging industry for 14.9%, 480 billion and 980 million won, social and other service industry for 9.3%. 300 billion and 160 million won, and real estate and business service industry for 4.2%, 135 billion and 36 million won of the effect causing added value over the country in order. Finally, the effect causing employment shows a lot of employment have occurred in the wholesale and retail for 37.4%, 23,060 people, the manufacturing industry for 18.9%, 11,637 people, food and lodging industry for 13.7%, 8,429 people, social and other service industry for 7.9%, 4,866 people, and real estate and business service industry for 5.6%, 3,429 people of 61,617 people in order.

• Information Systems Review
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• v.12 no.3
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• pp.117-139
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• 2010

Online games are not only tools for enjoyment, they are also the linking pins connecting between the online and the offline worlds. The effects affecting other domains can be termed 'spillover'. With the process behaving as forward and reverse spillovers, there are interaction effects on online and offline behavior. However, there is little research dealing with the spillover effects from the offline to the online domain. This study concentrates on the individual behavior of online garners centering on offline dependence. With the purpose of finding the factors affecting both flow and immersion, I am interested in the moderator effect of offline dependence influencing both flow and immersion from social interaction. A research model is developed and a survey research is conducted from one of universities in Korea. The results show that flow is strongly influenced by skills, challenge, and social interaction, but immersion is only influenced by skills and social interaction and not challenge. The findings reveal that the moderating effect of offline dependence affects only the relationship from social interaction to the immersion on the lower offline dependence group.

• Management & Information Systems Review
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• v.33 no.1
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• pp.139-155
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• 2014

This study is to examine the linkage of volatility between changes in the stock market of India and other countries through the integration of the world economy. The results were as follows: First, autocorrelation or serial correlation did not exist in the classic RS model, but long-term memory was present in the modified RS model. Second, unit root did not exist in the unit root test for all periods, and the series were a stable explanatory power and a long-term memory with the normal conditions in the ARFIMA model. Third, in the multivariate asymmetric BEKK and VAR model before the financial crisis, it showed that there was a strong influence of the own market of Taiwan and UK in the conditional mean equation, and a strong spillover effect from Japan to India, from Taiwan to China(Korea, US), from US(Japan) to UK in one direction. In the conditional variance equation, GARCH showed a strong spillover effect that indicated the same direction as the result of ARCH coefficient of the market itself. Asymmetric effects in three home markets and between markets existed. Fourth, after the financial crisis, in the conditional mean equation, only the domestic market in Taiwan showed strong influences, and strong spillover effects existed from India to US, from Taiwan to Japan, from Korea to Germany in one direction. In the conditional variance equation, strong spillover effects were the same as the result of the pre-crisis and asymmetric effect in the domestic market in UK was present, and one-way asymmetric effect existed in Germany from Taiwan. Therefore, the results of this study presented the linkage between the volatilities of the stock market of India and other countries through the integration of the world economy, observing and confirming the asymmetric reactions and return(volatility) spillover effects between the stock market of India and other countries.