• East Asian Economic Review
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• 제17권1호
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• pp.3-25
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• 2013

This paper evaluates whether the proposed FTAAP is a desirable policy option for APEC member economies and the world economy. More specifically, this paper qualitatively investigates whether the FTAAP satisfies conditions for a trade bloc to generate positive and sufficient net trade creation effect. In addition, this paper estimates the likely impact of the FTAAP by using a CGE model analysis. From the qualitative analysis based on statistical data, this paper strongly argues that the FTAAP can be a desirable regional trade bloc able to generate positive gains from freer trade. From the ex-ante scenario analysis using both static and capital accumulation CGE Models, this paper concludes that the FTAAP has great potential for improving welfare of participating APEC economies and will boost economic growth in the region. In particular, the FTAAP would be even better if it can be linked with liberalization of trade in services and enhanced trade facilitation.

• 지역연구
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• 제13권2호
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• pp.75-92
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• 1997

This paper is concerned with an estimation of optimal investment of road sector in 1996-2005. The main method is a Computable General Equilibrium (CGE) Model for Korea in which the optimal solution is derived in a recursively dynamic path. The model is composed of three main modules: the supply, the demand and the price. In this paper, the investment demand for the road is optimized with subject to national economic growth and price inflation. If the annual inflation level and the economic growth rate during 1996-2005 are set to 4.5%-5.0% and 6.0%-6.5% respectively, the optimal demand for the road investment is estimated as 155.1-180.1 trillion Won or 3.33%-3.89% of the GDP for ten years. It implies that the additional increase of the road investment by 0.61%-1.15% of the GDP is required for sustainable economic development, since the share of the road investment in the GDP of the latest 5 years has stayed around 2.27%. However, it is necessary to reduce construction investments on housing as well as to promote private financing of the road in order to maximize an efficiency of resource allocation.

• Journal of Korea Trade
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• 제24권8호
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• pp.153-170
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• 2020

Purpose - As the US-China trade war intensifies and lasts long time, there is growing concern about its potential effects on the global economy. In particular, for the countries like Korea that have a large economic dependence on the economy of the two countries, the US-China trade war may have a great repercussion in many ways. The aim of this paper is to investigate the global productivity and market structure implications of the US-China trade war for Korea, as well as for other surrounding countries and regions. Design/methodology - In this paper, we develop a full multi-country/region multi-sector computable general equilibrium (CGE) model of global trade incorporating heterogeneous workers and firms in individual skill levels and used technologies. We then calibrate the model using a global Social Accounting Matrix (SAM) dataset extracted from the recently released GTAP 10 Database, and assess the potential effects of the US-China trade war on the aggregate real productivity and the market structure for Korea, as well as for other surrounding countries and regions. Findings - We show that the US-China trade war may largely affect the aggregate productivity in each sector in each country/region, as well as the global market structure through entry and exit of firms, which results finally in considerable changes in the industrial comparative advantage of each country/region. Though the effects are diverse sector by sector, the results show that Korea may also be affected significantly: concerning the real productivity implications, it is shown that the machinery industry may be affected the most negatively; on the other hand, it is shown that the number of exporting firms may decrease the most in the other transports industry. Originality/value - As the US-China trade war intensifies, many studies have tried to estimate the possible implications, and for this usually the CGE models have largely been used as the standard tool for evaluating the impacts of changes in trade policies. Standard CGE models, however, cannot be used to assess the global productivity and market structure implications due to the symmetric and simplified base assumptions. This paper is the first to analyze and quantify the possible impacts of the US-China trade war on the aggregate productivity and global market structure using a CGE model incorporating endogenous skill-technology assignment of heterogeneous workers and firms.

• 자원ㆍ환경경제연구
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• 제18권1호
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• pp.23-51
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• 2009

본 연구는 우리나라가 자유무역정책을 실시할 경우 경제 전반과 친환경연료인 바이오디젤 산업에 미치는 영향을 정태적 연산가능일반균형모형(CGE)을 이용하여 분석하였다. 이론적으로 자유무역과 환경 간의 관계에 대해서는 '공해안식처 가설'이 1970~1980년대를 풍미하였으나, 1990년대 이후 Townsend and Ratnayakee 등은 자유무역이 생산효과, 규모효과, 구조효과, 규제효과를 통해 친환경기술 도입을 촉진하는 기능이 있음을 역설한 바 있다. 본 연구는 이러한 측면에서 과연 무역자유화의 효과로서 관세철폐가 우리나라 바이오디젤 산업에 어떤 영향을 미칠 수 있는지를 정량적으로 분석했다는 점에서 의의가 있다. 연구 결과 관세가 철폐되면 농업부문 산출은 전반적으로 감소하는 반면, 바이오디젤 산업은 팽창하며, GDP와 소비자 후생이 증가하는 것으로 나타났다. 바이오디젤 산업이 팽창하는 것은 원료인 대두유가 해외에서 수입됨에 따라 관세를 철폐할 경우 원료 수입가격이 하락하기 때문이다. 즉, 토지 생산성 측면에서 우리나라에서 생산되는 원료를 바이오디젤 원료로 이용하기보다는 동남아나 북 중남미 등에서 원료를 개척하여 수입하는 것이 경제적 이익을 극대화할 수 있고, 자유무역은 이를 더욱 가속화시킬 수 있다는 것이다.

• Journal of Korea Trade
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• 제25권3호
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• pp.48-64
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• 2021

Purpose - This study examined the effect of tariff cuts on productivity in Korea's manufacturing industries and the effect of initial productivity level before tariff cuts on productivity improvement after tariff cuts. We also attempted to identify whether import-driven or export-driven factors are more important for productivity improvement, especially in low productivity industries. Design/methodology - Since tariff reduction is a policy decision that can affect cross-industry, its impact is spread across all industries beyond the scope of a single firm through the input and output network of industry structure. Accordingly, we proposed a new method to measure the change in productivity to reflect the impact of tariff cuts across industries. Through an Armington CGE analysis, changes in endogenous variables can be directly measured after the exogenous shock of tariff reduction, and the amount of movements in productivity triggered by tariff cuts can also be calculated. We can thus assess the effectiveness of exogenous policy, such as tariff cuts, through the difference between the benchmark and counterfactual values of endogenous variables. Findings - This study confirmed that tariff reduction positively affected productivity improvement in Korea's manufacturing industries. It also confirmed that productivity gains occur in Korea's leading export industries. Finally, greater productivity gains were recorded in the group with additional high-export-share or high-import-share conditions for low productivity industries. These results are, in a limited sense, consistent with the existing studies that emphasize the importance of exports and imports on productivity improvement, especially for low productivity industries. Originality/value - The results of our experiments are different from those of non-CGE studies, which measure the industry-level change in productivity with dummy coefficients, in terms of directly calculating the amount of change in productivity. In addition, we propose that the Armington CGE model is more appropriate than the Melitz CGE model to directly measure the productivity after tariff cuts. This is because the Melitz CGE model assumes the given specific productivity density, which does not change after an overall drop of tariffs. To the best of our knowledge, this approach to directly calculating productivity by reflecting the impact of tariff reduction across industries through CGE analysis, is unprecedented in this literature.

• 농촌계획
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• 제28권4호
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• pp.93-104
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• 2022

Agriculture is one of the most vulnerable sector to droughts, and drought damage on the agriculture sector could have effects on other sector. Droughts have different characteristics compared to other extreme events, which means more sophisticated methods considering the characteristics of droughts are required when measuring their damage. The purpose of this study is to analyze the damage of droughts based on limited computational general equilibrium model. To be specific, we constructed a CGE model focusing on the agriculture sector in Korea. Also, to limit changes in land use and labor, we limited them, and assume droughts only have effects on productivity of value-added. Lastly, we simulate drought effects on rice production in Korea based on several climate scenarios and GCM to identify the economic effects of droughts. The results show that 1) the cumulated damage of droughts during 2021~2040 is higher than other periods (2040~2061, 2081~2100), 2) the correlation between the damage of droughts and SSP scenarios is insignificant. This result implies the necessity of the effective drought risk management to prevent future droughts effects, irrespective of mitigation policies. 3) Due to increases in rice price, GDP of rice sector is increased. However, GDP of the other sector and consumer welfare are decreased. This result show that indirect effects of droughts would be more important when measuring drought effects on agriculture sector.

• 한국관광식음료학회지:관광식음료경영연구
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• 제17권1호
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• pp.41-67
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• 2006

The study is aimed to analyze the influence of FTA(Free Trade Agreement) between Korea and Japan on tourism and to suggest ways to increase tourists exchange between them by considering countermeasures of Korea's tourism based on the analysis and deriving political significance. The results of the study showed that the expected effects of FTA between Korea and Japan on tourism would overall be positive. There would be increases in employment and a higher rate of foreign-exchange earning, which plays a critical role in the cash flow. Therefore the government is required to prepare for several political measures as follows. First, ways to promote investment in tourism have to be established in a systematic way for FTA. Second, restructuring of tourism has to be considered seriously for tourism to be a high value-added industry after FTA. Third, the tourism information industry needs to be included in the tourism promotion act to promote e-tourism using information technology. In addition to this, an expansive cluster strategy needs to be developed, which relates tourism to other industries like culture and movies and to find ways to re-locate and re-educate manpower currently engaged in the tourism industry. Though the study investigated the influence of FTA on tourism through a practical analysis, it was restricted only to Korea. So the influence of FTA between Korea and Japan on the tourism of Japan should be included in further study. Furthermore, in subsequent studies the CGE(Computable General Equilibrium) model will be applied for objective analysis of the effects. Or measuring the ripple effect with multinational inter-industry relation table will be made for the study to make practical contributions to the development of government policy.

• 자원ㆍ환경경제연구
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• 제18권3호
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• pp.457-493
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• 2009

본 연구는 기후변화 관련 Post-Kyoto 협상의 주요 쟁점사항들을 정리하고, 연산일반균형모형인 GTEM-KOR를 활용하여 경제적 분석을 실시하였다. 협상에서 해결해야 될 쟁점사항으로서 미국의 감축의무 참여, 개도국의 감축의무 참여, 광범위한 감축의무 참여 유도를 위한 감축의무 방식 개발 등을 제시하였으며, 이를 해결하기 위해 개도국간 차별화와 감축의무의 형태 및 강도 등이 중요한 협상 이슈가 될 것임을 지적하였다. GTEM-KOR를 활용한 분석에서는 일인당 GDP, 일인당 배출량 등 일인당 지수에 기초한 개도국간 차별화는 전 세계 온실가스 감축효과 측면에서 비효율적이며, 한국을 타 개도국에 비해 상대적으로 강한 감축의무 참여 압력에 노출시킬 것으로 분석되었다. 또한 기존 선진국뿐만 아니라 중국, 인도 등 주요 개도국의 감축의무 참여가 Post-Kyoto 체제의 온실가스 감축효과를 결정하는 중요한 요소임을 확인하였다. 감축의무 참여범위가 확대될수록 감축효과는 커지고 한계저감비용은 절감될 것으로 분석되었다. 한편 감축의무의 형태보다는 감축의무의 상대적 강도와 국가들의 참여범위가 Post-Kyoto 체제의 경제 및 환경적 효율성을 결정하는 중요한 요소임을 확인하였다.

• 자원ㆍ환경경제연구
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• 제30권2호
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• pp.169-205
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• 2021

본 연구는 온실가스 감축정책이 세계경제에 미치는 영향을 정량적으로 분석하였다. 이를 위해서 생산에 따른 온실가스 배출, 온실가스 배출에 의한 비효용의 발생, 각국 정부의 온실가스 감축정책이라는 세 가지 요소를 포함하고 있는 다국가-다산업 정태적 연산가능일반균형모형을 개발하였다. 이렇게 개발된 모형의 파라미터 값을 추정하고 모형에 적용할 수 있는 가장 최근의 방법론(exact hat algebra)을 사용해서 모형의 해를 계산하였다. 모형의 예측에 따르면 국가별 개별적인(unilateral) 온실가스 감축정책의 강화는 해당 국가의 국내 생산과 탄소 배출을 감소시키지만, 생산이 다른 국가로 재배치되기 때문에 반드시 세계의 탄소 배출량을 감소시키지는 않는 것으로 나타났다. 반면 모든 주요국들이 동시에 OECD(2016)에서 제안된 강화된 감축정책을 추진할 경우에 전 세계의 온실가스 배출을 감소시킬 수 있는 것으로 나타났다. 우리분석결과는 온실가스 감축정책이 효과를 발휘하기 위해서는 주요국들의 조율된(aligned) 감축노력이 필요하다는 점을 시사한다.

• 자원ㆍ환경경제연구
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• 제22권4호
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• pp.691-726
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• 2013

본 연구에서는 기존의 하향식 모형을 기반으로 전력부문에 한하여 상향식 모형의 요소를 적용함으로써 전원구성 및 전원계획을 고려할 수 있는 하이브리드 모형을 개발하였다. 여기서 개발된 모형은 기존의 모형과 달리 개별적인 규모에 대한 수확체감 생산함수로 각각의 발전기술(원자력, 중유, 가스, 신재생 등)을 표현하였고 이것의 합산으로써 전력부문을 모사하고 있다. 하이브리드 모형과 기존의 하향식 모형을 동일한 시나리오 하에서 비교할 때 하이브리드 모형을 통한 감축비용 결과값이 기존의 하향식 모형과 비교해서 더 낮았다. 이는 상향식 모형이 추가될 경우 감축비용이 더 낮게 계산된다는 기존의 연구결과에 부합되는 것이다. 추가로 중복규제의 효과에 대해서도 살펴보았는데, 배출규제에 의무할당제가 추가될 경우 배출규제만 있을 때에 비해 전체적인 감축비용은 소폭 증가하고 석탄 발전 등 배출집약도가 높은 발전기술을 사용하는 전원의 비중은 비슷하거나 증가하는 것을 관찰할 수 있었다. 향후 전력 관련 공학적 자료가 더욱 충실히 갖추어진다면 본 연구에서 개발된 하이브리드 모형은 실제 정책의 파급효과를 추정하기 위한 유용한 도구로 이용될 수 있을 것이다.