• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.201-211
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• 2021

This study aims to analyze the determinants of macroeconomic and institutional stability on the development of the global sukuk market by controlling the effects of population. This study uses panel data namely GDP per-capita, exchange rate, and inflation as the proxies for macroeconomic stability sourced from the World Development Index, and six dimensions of Worldwide Governance Indicators (WGI) as institutional proxies sourced from WGI-World Bank. To make robust the relationship between macroeconomics and institutional on the global sukuk market, the population (POP) variable was included as a control variable. The development of sukuk uses a proxy for sukuk issuance in the International Islamic Financial Market, for the annual period from 2002-2017. The data was analyzed using the General Method of Moment, and the results show that by controlling the population effects that proved to be significant, GDP per-capita and the rule of law have a significant impact on the development of sukuk, especially when incorporating population effects as control variables, whereby further ascertaining the effect of each macroeconomic-stability variable and institutional stability on sukuk development, especially inflation, found not to affect sukuk development. These results also confirm the previous findings, whereby inflation remains controllable at a certain level for economic development.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.79-90
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• 2021

This study aims to investigate the relationship between urbanization, economic growth, energy consumption, and CO2 emissions in Indonesia. The data used in the study are time-series data for the period 1985-2017; the data utilized are sourced from World Development Indicators obtained on the World Bank database. The method uses a quantitative approach that applies the vector error correction model based on the Granger causality test. The empirical results reveal that, in the short run, there is evidence that urbanization and energy consumption can causes CO2 emissions, and they also prove that urbanization can cause energy consumption. Also, other findings prove the existence of long-run relationships flowing from energy consumption, economic growth, and CO2 emissions toward urbanization, as well as the existence of the relationship flowing from urbanization, economic growth, and CO2 emissions towards energy consumption. The results of testing the relationship between economic growth and CO2 emissions reveal that the environmental Kuznets curve hypothesis is proven in Indonesia. Thus, policies are needed to limit the impact of urbanization through high awareness-raising to maintain environmental quality and greater use of energy. Also, energy conservation policies are needed in all sectors, especially the electricity, industry, and transportation sectors.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.285-294
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• 2022

Using the ARDL approach, this study examined the impact of macro factors on Vietnam's stock market in the short and long run from 2010 to 2021. The State Bank of Vietnam and the International Monetary Fund provided time series data for this study. Research results show that in the long run, money supply and exchange rate respectively affect the stock market. The money supply had a positive effect on the VN-Index, while the exchange rate showed the opposite effect. However, the study did not find a relationship between world oil price and interest rates on VN-Index in the long run. On the other hand, in the short term, there are relationships between variables; specifically, interest rates and exchange rates have a negative impact on the VN-Index, while the world oil price and the fluctuation of money supply M2 of the previous one and two months showed an impact in the same direction on this index. The differences in the regression results on the impact of exchange rate and oil price on the VN-Index compared to previous studies come from the characteristics of Vietnam's stock market, with the large capitalization of companies in the oil and gas sector, and the structure of Vietnam's economy with export heavily depends on FDI sector.

• Korea Trade Review
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• v.47 no.2
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• pp.89-101
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• 2022

International remittances play a crucial role in the economic management of each country, especially in developing countries. Its functions are diverse, including procurement of foreign currency, serving as a cushion for the balance of payments and foreign exchange reserves by reducing the adverse external shocks, driving economic growth, easing the gap between the rich and the poor, and maintaining macroeconomic stability. However, previous studies on remittances have mainly focused on macro-and micro-economic aspects to analyze the determinants. Therefore, this study attempts to identify the determinants of remittances in 122 countries over the past 25 years from macroeconomic and educational aspects as well as institutional qualities. In addition, given the fact that almost all of the world's top 10 recipient countries in terms of GDP and total remittance size are developing countries, developed and developing countries are separated and analyzed for comparison, assuming that there may be a difference between the two groups. Results show that the coefficients of developed and developing countries are different in four areas: Control of Corruption (CC), Rule of Law (RL), Voice and Accountability (VA), and Regulatory Quality (RQ) among the six institutional variables of interest in this study. These results implicate that even the same institutions and policies should be applied and implemented differently depending on the circumstances of each country. In addition, as suggested by the World Bank, policymakers in all countries should double their policy efforts to lower the costs of remittance and improve access to the financial system for immigrants or dispatched workers to ensure a steady inflow of remittances.

• Korean Journal of Artificial Intelligence
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• v.7 no.1
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• pp.13-16
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• 2019

While the Chinese banks have started the impact of foreign banks. At the same time, rising pressure on foreign exchange reserves and appreciation of the renminbi has prompted Chinese banks to go abroad and diversify their risks. The financial crisis of 2008 has caused the continued turbulence of the major financial markets around the world, and the valuation of foreign financial institutions has been drastically shrinking, providing opportunities for Chinese banks to carry out overseas M&A. Based on the overseas M&A status of Chinese commercial banks, this paper sums up the characteristics of the overseas M&A. Then taking a series of overseas M&A conducted by ICBC from 2006 to 2011 as an example, it analyzes the relationship between M&A and performance growth using grey incidence model. The test shows: there is a positive correlation between both overseas M&A and interest rate differential with performance growth of ICBC, and overseas M&A transactions role in promoting the performance growth is significantly higher than the interest rate differential.

• KDI Journal of Economic Policy
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• v.39 no.4
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• pp.51-68
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• 2017

This paper adapts the World Bank Regulatory Quality Index (RQI), which is produced annually to provide a better understanding of the effects of regulatory reforms, instead of the Production Market Regulation (PMR) indicators, which are published every five years. We find that 9.9 to 36.0 billion USD worth of regulatory cost could be reduced if the regulatory quality in Korea improves to the level of the OECD average considering that the total burden of regulation in Korea is estimated to range from 2.2 to 357.4 billion USD. The estimated reduction in the regulatory cost accounts for roughly 0.76 to 2.47% of Korea's GDP in 2013, underscoring the importance of regulatory reforms for the Korean economy. This paper introduces a new method with which to examine the distribution of regulatory costs across different industries and firm sizes. This alternative method is largely consistent with the conclusions reached by other studies, specifically that small firms typically bear a disproportionate regulatory burden.

• 한국경영정보학회:학술대회논문집
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• 2007.11a
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• pp.533-538
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• 2007

Since the Internet has been widespread all over the world, it has been getting more popular. Almost every bank that runs offline business has its own Web site to provide online banking service. In this study, we developed a research model based on the Technology Acceptance Model (TAM). We added the concepts of trust and cost to evaluate our model because trust is a major concept in adopting online service, and cost is one of the main strategies to attract customers to use online banking service. To see the validation of the model, we used partial least squares (PLS). A survey was done to gather data. The result was drawn from the model test, and we discuss it and conclude the study.

• The Journal of Information Technology
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• v.3 no.4
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• pp.73-88
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• 2000

As the globalization of world market proceeds, the importance of foreign direct investment grows bigger than before A comparative analysis on foreign direct investments among developed and developing countries makes clear that every county has different incentives for foreign direct investments. This implies a country should improve environments on her appropriate field, to induce foreign direct investments, The openness of other capital markets such as bank loans and portfolio investments turns out to have no direct effects on the foreign direct investments.

• Environmental and Resource Economics Review
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• v.12 no.1
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• pp.91-120
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• 2003

This paper is intended to measure sectoral sustainabilities and inter-industry linkage effects of natural capital depletion of the Korean industries, and to analyze sources of their change over time using the familiar input-output model. The sustainability indicator that we are measuring in this paper is based on the so-called genuine saving concept proposed by the World Bank(1997). We accommodated the concept in the extended analytical framework of Proops et al.(1999) to analyze sectoral sustainabilities of the Korean industries. We decomposed sectoral sustainabilities so measured into their composing factors based on the decomposition method devised by Chung & Rhee (2001). According to our analysis, overall sustainability of the Korean industries has been declined since 1995. In heavy and chemical, transportation, and electricity sectors, their sustainabilities has been gotten worse. Among four major factors influencing the sustainability, change in GDP was the most important followed by changes in savings, industrial structures, and demand patterns.

• Asian Journal of Innovation and Policy
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• v.6 no.2
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• pp.170-191
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• 2017

Inclusive innovation refers to different types and forms of innovation activities or performance by which we can get more for lesser cost and which could cater and meet the needs and demands of more people. The essence of inclusive innovation is to help poor, marginalized and underprivileged sections of society to improve their livelihoods and enable them to climb up the socio-economic ladder. In the current phase of economic slowdown, increasing unemployment and inequalities, World Bank, OECD and various governments are turning towards inclusive innovation as a new source of optimism or even as a new innovation strategy. Whilst it is being reframed or packaged as a novel or a new strategy, one can trace its historical roots to the AT movement and the Gandhian ideas of economy and society in the 1940s and 1950s. These ideas have inspired and influenced a range of individuals, institutions and civil society groups in inclusive innovation.