• Environmental and Resource Economics Review
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• v.11 no.4
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• pp.581-608
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• 2002

The electric power industry has played an important role in dramatic economic development in Korea and the electricity has constituted a critical factor sustaining the well-being of the Korean people. This study uses input-output analysis to investigate the role of four electric power sectors (hydroelectric, fossil-fuels, nuclear and non-utility) in the Korean national economy for the period 1985~1998, focusing on four topics: the impacts of electricity supply investments, the electricity supply shortage effects, and the impacts of the rise in electricity rates, and the inter-industry linkage effect. The overall results reveal that non-utility electric sector is superior in terms of the national economy-wide effects to other three sectors throughout the period. Finally, potential uses of the results are illustrated from the perspective of policy instruments and some policy implications are discussed.

• Korea Trade Review
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• v.44 no.1
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• pp.1-15
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• 2019

This study aims to analyze the effects of trade on human capital accumulation and economic growth in Korean manufacturing industry. The results of empirical analysis by dynamic panel model are as follows. The increase in exports of skilled labor intensive industries has a positive effect on human capital and economic growth, and the impact of import on human capital accumulation and economic growth has alst a positive impact. The exports of unskilled intensive labor industries have a negative impact on human capital accumulation and economic growth. Imports of unskilled labor intensive industries have negative on human capital accumulation and economic growth. It is difficult to derive statistically significant results for the effects of trade on human capital accumulation and economic growth before and after 2008. However, as a result of the financial crisis in 2008, it seems that the effects have decreased since 2008.

• Journal of Energy Engineering
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• v.22 no.2
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• pp.184-196
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• 2013

We need to develop new renewable energy that could fundamentally replace fossil fuel, since the volume of economy and industry of our time becomes uncontrollably enormous. One of the alternative is to develop energy based on marine biomass, which would meet environment and energy needs at the same time. The marine bio-energy productions is supposed to occupy 50% to 500 million TOE in bio-energy production that is based on the Korean 3rd new renewable energy technology development, utilization, supply plan until 2030. This study attempts to apply input-output analysis to investigating the economic impacts of marine bio-energy development project in the Korean national economy. More specifically, this study shows what national economy effect of production-inducing effect, value-added inducing effect, employment-inducing effect, and R&D-inducing effect are explored with demand-driven model. Furthermore, this study attempts to define and classify the marine bio-energy development project sector from I-O table. Also, this study pays particular attention to marine bio-energy development project by taking the industry as exogenous specification and then investigating its economic impacts. The Marine bio-energy development project case 223 billion won, production-inducing effect, value-added inducing effect, and employment-inducing effect are 312 billion won, 87 billion won, 1,151 persons, and 5 billion won respectively. These quantitative information can be usefully utilized in the policy-making for the industrialization of marine bio-energy development project.

• The Southeast Asian review
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• v.20 no.3
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• pp.41-64
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• 2010

The recent global financial crisis triggered by the sub-prime mortgage debacle in the United States hit hard most ASEAN countries that have just recovered from the unprecedented economic crisis ten years ago. This paper, using individual time-series and panel data from 1990 to 2009, intends to investigate and compare the impacts of the two aforementioned economic crises on trade in the four developing ASEAN countries that encompass Indonesia, Malaysia, the Philippines and Thailand. In doing so, the paper traces the behaviors of main macroeconomic variables before and after the crises on graphs, and then estimates classical export and import demand functions that include real exchange rate, home and foreign GDPs as explanatory variables. In the estimation functions, two dummy variables are added to consider the effects of the two economic crises separately. Individual country data analyses reveal that by and large the 1997 economic crisis seems hit those ASEAN countries' exports and imports harder than the recent global financial crisis. Surprisingly the recent financial crisis turns out more or less statistically insignificant for those countries' export and import performances. The fixed effect model estimation using panel data of those four ASEAN countries also shows that the 1997 economic crisis had affected exports and imports of those countries negatively while the recent global financial crisis was not statistically significant. These results indicate that overall the effect from the 1997 crisis was more devastating than that of the recent global crisis for those ASEAN countries.

• Journal of Korea Planning Association
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• v.54 no.2
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• pp.76-83
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• 2019

This study aims to empirically identify the effect of spatial accessibility, based on travel, on housing prices in the Korean capital region. More specifically, it has two research purposes: First, investigating the effect of comprehensive spatial accessibility, based on road network and actual trips from origin to destination, on average apartment price (Korean Won per square meter) at the level of Eup, Myeon and Dong; Second, identifying better accessibility index between Hansen's and Kalogirou and Foley's ones. The former represents a road-based travel time decay function with destination trips, while the latter is a function with origin trips as well as destination ones. The study employs spatial economic models considering spatial auto-correlative relationship as an appropriate methodology with such control independent indicators as population density, road density, educational environment and distances from CBDs. Analysis results demonstrate that spatial accessibility, based on road network and actual trips from origin to destination, has a statistically significant impacts on housing price in the region. Our empirical evidence proves that the Hansen index is more appropriate than the other in estimating housing price impacts.

• The Journal of the Korea Contents Association
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• v.10 no.1
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• pp.247-255
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• 2010

The media industry is becoming more important around the world and there are changes over this industry. Therefore this is the time that the economic impacts is needed about media industry. This study attempts to examine the economic impacts of the media industry using an inter-industry analysis. Specifically, the study investigates production-inducing effect, value added inducing effect and employ-inducing effect of the media industry based on demand-driven model and the study deals with supply shortage effect and sectoral price effect of the media industry by using supply-driven model and Leontief price model. The results of this analyses are presented; 0.5461 won in production-inducing effect, 0.3143 won in value added inducing effect when 1 won is produced by media industry, 5.0459 persons in employ-inducing effect when 1 billion won is produced, 1 won of supply shortage in this industry results 0.7353 won in supply shortage effect which affect the other industries. Sectoral price effect is 0.2389% due to the 10% increase of price.

• Journal of Korea Technology Innovation Society
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• v.5 no.2
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• pp.245-256
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• 2002

Measurement standards, as being widely recognized, is necessary for national economic development and advanced industrialization. Also measurement standards give reliability and fair trade to the producers and consumers. Macro-effect of measurement standards using estimation of cost function has four effects: 1) value-added causing effect, 2) effect of employment, 3) reduction effect transaction cost, 4) reduction effect defect rates. In this study, to investigate the impacts between specific and the other industries, we used I-O Table of Korea Bank. The relation between the value-added produced by original production factors and final use is determined through production level, and the relation can be investigated with production causing coefficient matrix. In this study, it was showed that the measurement standards investments including measurement only man power of industries were increased from 1995 rapidly. The establishment and maintenance of measurement standards contributes to reduce the defect rate of products in production process and improve the confidence of the product quality. The results from this study show that measurement technology contributes to improve quality, decrease defect rate, improve production process, develope new products, reduce prime cost and increase the consumer's confidence on the firms. Since these results indicate that measurement standards are very important in the point of their vast contribution, we hope our findings can contribute to encourage measurement activities in industries.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.28-35
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• 2013

The construction industry has introduced the Leadership in Energy and Environmental Design (LEED) rating system to promote objective evaluations of the sustainability of buildings. Three important values to consider when implementing sustainability are the associated environmental, social, and economic impacts. Recently, researchers have begun to investigate the real estate value of LEED certified buildings in terms of the rental cost, occupancy rate, cost per unit area, and resale value in order to better understand the economic benefits of the LEED rating system. However, the economic benefits also encompass economic effects such as the impact of LEED certified buildings on neighborhood real estate values surrounding the certified buildings. This research examines whether the enhanced real estate value of LEED certified buildings in New York City extends to surrounding commercial buildings, utilizing spatial analysis via a Geographic Information System (GIS) and the hedonic pricing method to derive meaningful economic relationships. The results provide practical insights into the economic effect of LEED certified buildings that will be of interest to city officials and planners, as well as the owners, developers, investors and other stakeholders of surrounding buildings.

• Korea Trade Review
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• v.41 no.4
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• pp.41-59
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• 2016

Given the increasing importance of entrepreneurship in a nation's economic growth, this study empirically examined the effect of entrepreneurial behavior and environment on economic growth based on country level data. While previous studies have centered on entrepreneurship as a dominant variable that impacts economic growth, this study has extends the discussion by empirically testing the effects of two entrepreneurial variables, which are entrepreneurial behavior and entrepreneurial environment, on economic growth. Furthermore, the study attempted to examine the moderating effects of trade and innovation on the relation between the independent variables and economic growth. According to the panel analysis using data from GEM and World Bank, both entrepreneurial behavior and environment affected national economic growth, completely or partly. Results showed that opportunity-driven entrepreneurial behavior has a significant effect on economic growth, suggesting that qualitative aspect of entrepreneurial activities are critical to economic growth. The results also indicated that both trade and innovation have significant moderating effects on the relationship between governmental support program and economic growth.

• Journal of the Korean association of regional geographers
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• v.23 no.3
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• pp.437-449
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• 2017

As a new duty of universities, contributions to localities and regions are magnified as an important issue and overseas universities are creating it as the index to use self evaluations and public relations actively. The universities in Korea are expanding resources usage of university and proceeding various businesses to enhance co-operation with local government, civic groups and companies lately. However, it is still in an embryo. This study is aiming to analyze cases of foreign universities and the socio-economic impacts of university on the region and discover evaluation index based on the results to be applied to the universities in Korea. This study had considered the evaluation of local effect by the university conducted by the Higher Education Funding Council for England(HEFCE) which is the representative case to analyze the impacts of university on the region at the level of government and independent organizations. The applicable common index had been extracted for universities in Korea from case studies on University of Rochester in the US and University of Birmingham in the UK considered as a representative university in North America and Europe respectively which are publishing a white paper on local and regional impacts of the university by using various index. As a result, 24 items in six areas(economic influence, research, education, art & cultural services, regional development, and the field of university specialization) had been deducted as the evaluation index which represents the local and regional impacts of university. This index could be secured through holding materials of each university and 'Higher Education in KOREA' as university information disclosure service and it might be applied to the universities in Korea.