• Title/Summary/Keyword: growth.

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The Short-run and Long-run Dynamics Between Liquidity and Real Output Growth: An Empirical Study in Indonesia

  • JUMONO, Sapto;SOFYAN, Joel Faruk;SUGIYANTO, Sugiyanto;MALA, Chajar Matari Fath
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.5
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    • pp.595-605
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    • 2021
  • The objectives of this research are to see if the phenomena of "demand following" and "supply leading" exist in the business cycle, as well as to look at how liquidity and output react to changes in credit risk, investment-saving gap, inflation, exchange rate, and growth rate of real national output. Employing quarterly data of Maluku and North Maluku (2008-2019), this study utilizes VAR/VECM for inferential analysis. This research found three important findings. First, liquidity and output growth influenced each other in the long run. Second, the determinants of output growth for Maluku are liquidity, investment-saving gap, and inflation, while the determinants of liquidity are output-growth, the gap of investment-saving, and inflation. Third, the determinants of output growth for North Maluku are liquidity, credit risk, investment-saving gap, inflation, exchange rate, and the national output-growth, while the determinants of liquidity are output-growth, credit risk, investment-saving gap, inflation, exchange rate, and national output-growth. The findings of this study supported the hypothesis of demand following and supply leading theory in the Maluku and North Maluku business cycles. This study concludes that economic development would improve if supported by liquidity adequacy through increased deposit growth.

The Effectiveness of Macroprudential Policy on Credit Growth at Bank-Level Data in Vietnam

  • NGUYEN, Hau Trung;PHAM, Anh Thi Hoang;DANG, Thuy T.
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.8
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    • pp.325-334
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    • 2021
  • The study investigates the effectiveness of the macroprudential policy on credit growth in Vietnam. The authors use the logic of the transmission mechanism of macroprudential policy on credit growth. Research variables include economic growth, inflation, interest rate, and quarterly bank-level data from 28 commercial banks in Vietnam during 2011-2018. The results reveal that: (i) GDP growth had a positive impact on credit growth of small banks but had no impact on large banks, (ii) Domestic Systemically Important Banks (D-SIBs) and small banks respond differently to macroprudential measures of imposing different credit growth targets for different bank groups, (iii) Restrictions on foreign currency loans are found to be effective in curbing credit growth for the full sample and small banks, (iv) Inflation and economic cycle have significantly impacted credit growth at bank-level in Vietnam and (v) Interestingly, a significant positive relationship between interest rates and credit growth is found for the full sample and D-SIBs in Vietnam. The findings suggest that a stable macroeconomic environment should be good conditions for financial stability, and monetary authority should pay more attention to small banks' behaviors than D-SIBs behavior, toward such "administration" tools since small banks tend to prefer "breaking the rules" to make profits.

Cynanchum wilfordii and Phlomis umbrosa Extract (IPLUS-CWPU) Stimulated Bone Growth and Differentiation by Enhancing Growth-Related Factors in Young Sprague Dawley Rats

  • Song, Hye-Jin;Seo, Yoonhee;Hong, Sang Keun;Choe, Soo Young
    • The Korean Journal of Food And Nutrition
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    • v.34 no.6
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    • pp.568-575
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    • 2021
  • The purpose of this study was to investigate the effects of extract mixture of C. wilfordii and P. umbrosa (IPLUS-CWPU) on bone growth in 4-week old young male SD rats. To confirm the effect of IPLUS-CWPU, we measured the length of bone growth plate, the ratio of proliferative zone to the length of growth plate and the expression level of insulin-like growth factor, IGF-1. The IPLUS-CWPU treatment shows a significant increase of tibial and femoral growth plate and the ratio of proliferative zone in growth plate. Especially, the length increased by 13.9% and 25.3% in the tibia and femur, respectively, in the high-dose group compared to the normal group. Moreover, the expression of IGF-1 gene in liver was upregulated in IPLUS-CWPU treated groups. These results indicated that IPLUS-CWPU administration could increase the proliferative zone of bone growth plate in early developmental stage by upregulation of IGF-1 gene.

The Impact of ICT Goods Imports on Economic Growth: Evidence from Asia-Pacific Countries

  • Yoon, Sang-Chul
    • Journal of Korea Trade
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    • v.23 no.7
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    • pp.1-12
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    • 2019
  • Purpose - This paper empirically investigates the relationship between Information and Communication Technology (ICT) goods imports and economic growth with a focus on the 13 Asia-Pacific economies during 2005-2016. In particular, this paper extends the study by breaking down the data of Asia-Pacific countries into High Income Countries (HICs) and Low Income Countries (LICs) according to the difference of income levels. Design/methodology - Our empirical model employs the standard growth model based on the Barro (1998)-type growth framework. Using static panel-data technique, we estimate the effect of ICT goods imports on economic growth in the 13 Asia-Pacific economies. In addition, we also estimate a difference of the ICT goods imports-economic growth link between HICs and LICs. Findings -The estimation results indicate that ICT goods import has a significant positive effect on economic growth, while ICT goods export has a positive but statistically insignificant effect on it. When we break down the panel data into HICs and LICs in order to gain further insight, ICT goods imports has been effective in spurring growth in only LICs but not in HICs. The other supplementary results show that both domestic investment (GCF) and life expectancy (LE) have a significantly positive impact on economic growth in both HICs and LICs. Originality/value - The main findings of the paper suggest that ICT goods imports has a positive effect on economic growth in only LICs but not in HICs. This result supports the so-called 'leapfrogging' hypothesis through ICT goods imports in the Asia-Pacific countries, in which LICs are gaining more from ICT goods imports than HICs.

The Growth Effects of R&D Policy: A Theoretical Approach Focusing on Public R&D and Business R&D Subsidy (연구개발정책의 경제성장효과: 공공연구개발과 기업연구개발보조 중심의 이론적 접근)

  • Sang Choon Kim;Chuhwan Park
    • Journal of Information Technology Applications and Management
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    • v.29 no.6
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    • pp.23-42
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    • 2022
  • This paper introduces two R&D policy instruments of public R&D and business R&D subsidy into the growth model of endogenous innovation simultaneously, and studies how they respectively affect economic growth, as well as how they interact with each other for the growth effects. Main results are as follow. The growth effects of each instrument are non-monotonous but various depending on the structure of economy. For example, the growth effects of public R&D become positive in the economy of more innovation-friendly structure such as larger marker size, more monopolistic market structure and more patient consumer, but the growth effects of business R&D subsidy become positive in the economy of less innovation-friendly structure such as smaller market size, more competitive market structure and more inpatient consumer. Meanwhile business R&D subsidy does not affect the growth effects of public R&D, but public R&D affects the growth effects of business R&D subsidy. Particularly, in the economy of less innovation-friendly structure public R&D becomes complimentary to business R&D subsidy.

Growth Responses and Introduction Plan of Interior Landscape Plants under Light Intensity of Fluorescent Light and Sunlight (형광등과 자연광의 광도에 따른 실내조경식물의 생육반응과 도입 방안)

  • Choi Kyoung-Ok;Lee Sang-Woo
    • Journal of the Korean Institute of Landscape Architecture
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    • v.33 no.4 s.111
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    • pp.119-128
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    • 2005
  • This study was carried out to obtain fundamental information of growth response of interior landscape plants under a fluorescent lighting, a sunlight at indoor. Ficus elastica Roxb. vu. decora Hort, Spathiphyllum 'Clevelandii', Codiaeum variegatum Blume var. pictum Mvell. Arg. 'Exalant' and Cordyline terminalis Kunth var. red edge Hort were examined under 100lux, 500lux, 1,000lux and 2,000lux light intensity consisted of fluorescent lighting and sunlight at indoor condition. Result of experiments are as follows; 1. A Ficus elastica Roxb. var. decora Hort plant growth status was better showed under fluorescent lighting than sunlight. A plant growth status showed the best result under 2,000lux light intensity of fluorescent lighting in cases of all conditions. 2. A Spathiphyllum 'Clevelandii' showed the best effective adaptations under law intensity among experimental plants. A Spathiphyllum 'Clevelandii', plant growth status was better showed under fluorescent lighting than sunlight. A plant growth status showed the best result under 1,000lux light intensity of fluorescent lighting in cases of all conditions. 3. It need the best high establishment of fluorescent lighting among experimental plants for good plant growth. A Codiaeum variegatum Blume var. pictum Mvell. Arg. 'Exalant' plant growth status was better showed under fluorescent lighting than sunlight. A plant growth status was better showed under high light intensity in case of same light source. A plant growth status showed the best result under 2,000lux light intensity of fluorescent lighting. 4. A Cordyline terminalis Kunth var. red edge Hort plant growth status was better showed under fluorescent lighting than sunlight. but, A plant growth status was better showed under $500lux\sim1,000lux$ than 2,000lux in cases of all intensity of fluorescent lighting. while, A plant growth status was better showed under $1,000lux\sim2,000lux$ in cases of all intensity of sunlight.

The Experimental Study on the Effect of Herbal Exrtacts on Hair Growth and Acnes (복분자(覆盆子), 석창포(石菖蒲), 상침자 및 숙지황(熟地黃)이 모발성장(毛髮成長)과 면포에 미치는 실험적(實驗的) 연구(硏究))

  • Oh, Young-Sun;Roh, Sek-Seun;Oh, Min-Suck
    • The Journal of Korean Medicine Ophthalmology and Otolaryngology and Dermatology
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    • v.19 no.3 s.31
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    • pp.34-54
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    • 2006
  • The effects of four extracts of medicinal herbs, Rubus coreanum, Acorus calamus, Morus alba and Rehmannia glutinosa on hair growth activity and acnes control were investigated. In the course of screening natural extracts for hair growth, we found that the extract of dried root of Rubus coreanum has the hair growth promoting effect. After topical application of these extracts to the back of C57BL/6 mice, the earlier conversion of telogen-to-anagen phase was induced. The growth of dermal papilla cells and mouse vibrissae hair follicle cultured in vitro, however, was not affected by treatment of these extracts. Furthermore these extracts do not possesspotent inhibitory effect on $5{\alpha}-reductase$ I and II activity and anti-bacterial effect on Escherichia coli , Propionibacterium acnes, Pityrosporum ovale, Staphylococcus aureus, Staphylococcus epidemidis, and Candida albicans. RT-PCR analysis showed that these extracts did notinduce mRNA levels of growth factors such as insulin-like growth factor-I, keratinocyte growth factor, hepatocyte growth factor and vascular endothelial growth factor in dermal papilla cells. These results suggest that Rubus coreanum has hair growth promoting effect. However, the effects of these materials on the hair growth promotion are not mediated through inhibition of $5{\alpha}-reductase$ I and II activity, stimulation of hair follicle cells and expression of growth factors in the dermal papilla cells.

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Effects of Yongohkgo on Growth and Learning Ability in Growth Deficiency Rat With Linsufficient Nutrition Diet (영양소 결핍으로 유도한 성장장애 흰쥐에서 용옥고(龍玉膏)가 성장 및 학습효과에 미치는 영향)

  • Kong, In-Pyeo;Cha, Yun-Yeop
    • Journal of Physiology & Pathology in Korean Medicine
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    • v.22 no.3
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    • pp.624-629
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    • 2008
  • Effects of Kyungohkgo Ga Nokyong(Yongohkgo) on growth development and learning ability were investigated growth and intellectual impairment rat with insufficient nutrition diet. We divided male Sprague-Dawley rats into 4 groups. They were Normal group, Growth deficiency rat with insufficient nutrition diet group, Growth deficiency rat with 0.1% Yongohkgo group and 0.2% Yongohkgo group. They were administered for 5 weeks. We measured body weight, and morris water maze test in escape distance, escape time and escape speed, serum growth hormone, insulin-like growth factor and thyroid stimulating hormone, RBC, concentration of Hb and PCV ratio, total WBC and its composition, the values of GOT and GPT activities. The results are as follows that Yongohkgo 0.1%, 0.2% groups were showed significantly different than control groups in body weight and the counts of RBC. In the morris water maze test, in escape distance and escape time, in concentration of Hb and PCV ratio, 0.2% Yongohkgo group were significantly different than control groups. Serum growth hormone, insulin- like growth factor and thyroid stimulating hormone showed a tendency to increase in Yongohkgo groups. The counts of total WBC and its composition, GOT, GPT activities showed no significantly different in all treatment groups. These results suggested that Yongohkgo have an effect of promoting growth and learning ability of rats and might be effect to treat various kinds of growth and learning ability delay in children.

Expression Patterns of Growth Related Genes in Juvenile Red Spotted Grouper (Epinephelus akaara) with Different Growth Performance after Size Grading

  • Mun, Seong Hee;You, Jin Ho;Oh, Hyeon Ji;Lee, Chi Hoon;Baek, Hea Ja;Lee, Young-Don;Kwon, Joon Yeong
    • Development and Reproduction
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    • v.23 no.1
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    • pp.35-42
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    • 2019
  • Fish shows great difference in growth rate between individuals during larval development and early growth. This difference seriously reduces the production efficiency in fish culture. Growth hormone (GH)/Insulin-like growth factor 1 (IGF1) system is said to play some pivotal roles in fish growth. In this study, we investigated differences of GH, IGF1 and GHR gene expressions in juvenile red spotted grouper (Epinephelus akaara) with different growth performance. Red spotted groupers were reared under the same environmental condition (water temperature $24{\pm}1^{\circ}C$, natural light) for 96 days after hatching. They were divided into 3 groups by size (fast growing, middle growing and slow growing groups: FGG, MGG, and SGG, respectively). RNA was extracted from the brain, liver and muscle tissues from each group, and target gene expression was examined by real-time PCR. In the brain with pituitary gland, expression of GH gene in FGG was significantly higher than the expression in SGG, but the expression of IGF1 and GHR genes in the muscle was highest in SGG. Difference of GHR and IGF1 mRNA in the liver between groups with different growth performance was less clear than that in other tissues, although level of IGF1 mRNA was higher in SGG than in MGG. These results suggest that hormonal governing of growth is not the same in fast growing and slow growing fish, and size grading could cause a shift of hormonal state and growth pattern in this species.

Effects of Growth Plate Stimulation Machine on Height Change in Human Body (성장판 자극기기가 인체의 키 변화에 미치는 영향)

  • Cho, Choon-Nam;Myung, Jae-Sin
    • Journal of the Korean Institute of Electrical and Electronic Material Engineers
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    • v.34 no.5
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    • pp.357-363
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    • 2021
  • Recently, as interest in appearance has increased, various studies on treatment method for short stature are being conducted. In this study, the effect of growth plate stimulation on the height growth of children and adolescents was studied. As a result of pre- and post-analysis of the experimental group, it was confirmed that the difference in average height according to growth plate stimulation was relatively large. In addition, in the results of analyzing the effects of demographic factors on the height growth of the experimental group and the control group, weight showed the greatest influence on height growth among the demographic factors affecting the height growth of the experimental group. The effect on the height growth of the control group was found to have an effect in the order of age, weight, and father's height. The difference in height changed post-mortem between the experimental group and the control group was 1.10 cm for 3 months, and the difference was the result of growth plate stimulation. It was confirmed that growth plate stimulation had a significant effect on the height change of children and adolescents, except for weight, which is a common factor of height change in the experimental and control groups. Therefore, it is expected that it can be used as a treatment method for short stature.