• Journal of Korea Trade
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• v.23 no.7
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• pp.113-127
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• 2019

Purpose - This paper investigates whether financial crises could be the indicators of capital outflow waves or vice versa in Korea. Korea has experienced two severe financial crises, which are the Asian Crisis and the global financial crisis. Although there were many variables associated with these two remarkable events, one notable variable was gross capital outflows, which had significantly increased around them. Motivated by existing literature which built theoretical frameworks explaining the relationship between capital flight and financial crises, we examine the empirical evidence for this relationship. Design/methodology - We use panel data from 61 countries including Korea from 1980 to 2009 to study the associations between capital flight and diverse financial crises such as banking, currency, debt, and inflation crises. To be specific, we use the complementary log-log model to see whether capital outflow waves are reliable indicators for domestic financial crises. Findings - The results show, first, that banking, currency, and inflation crises are associated with capital flight. Second, debt crises are also associated with capital flight, but the result is not robust to different specifications. And, third, the positive associations between capital flight and crises are mainly driven by banking flows rather than FDI and portfolio flows. Originality/value - This paper is one of a few studies that investigates domestic (not foreign) investors' behavior during financial turmoil. Furthermore, theoretical studies which provide contradictory explanations on the movements of gross capital outflows during financial crises emphasizes the importance of empirical evidence in this paper.

• Journal of Distribution Science
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• v.21 no.2
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• pp.1-6
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• 2023

Purpose: Research on attracting foreign direct investment plays an important role in ASEAN countries. ASEAN has needed FDI capital for development and integration with many developing countries. Research design, data and methodology: This study is conducted to assess the impact of factors: inflation (INF), economic growth (GDP), population (POP), and trade (TRADE) on attracting foreign direct investment (FDI) of ASEAN countries. The study will find out how factors distribution contributes to FDI attraction. The study collects data from 10 ASEAN countries from 2010 to 2020. With data collected for ten countries from 2010 to 2020, data analysis with panel data will be used in this study. The Regression with Driscoll-Kraay standard errors correction model will be used in the study. Results: Panel data analysis shows that economic growth and population positively impact FDI attraction in ASEAN countries. However, two factors: INF and TRADE, do not affect FDI. Conclusions: Countries need to focus on economic development, create many good conditions for people and domestic enterprises and create opportunities for foreign investors to pay more attention. improving the quality of domestic human resources will help to better improve the working quality factor when the demand for high-quality human resources increases.

• Fourth Industrial Review
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• v.2 no.2
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• pp.39-46
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• 2022

Purpose - This study analyzes the investment environment of South Korea by using the rating scale of Robert B Stobaugh, Jr, and draws conclusion implication. Research design, data, and methodology - The study conducted a survey on according to the political stability, capital repatriation, foreign ownership allowed, discrimination and controls, foreign vs domestic businesses, currency stability, willingness to grant tariff protection, availability of local capital, and annual inflation for last 5 years. The score of these eight aspects will be given based on the current situation in South Korea and the sum of the scores will be calculated. Result - China-Korea economic and trade relations are in a stage of transformation and upgrading, and the level of economic and trade cooperation in various fields is reaching a new level. It is hoped that Chinese enterprises will grasp business opportunities, strengthen research and analysis of the Korea market and achieve mutually beneficial cooperation. Conclusion - The investment environment of South Korea is superior according to the political stability, capital repatriation, foreign ownership allowed, discrimination and controls, foreign vs domestic businesses, currency stability, willingness to grant tariff protection, availability of local capital, and annual inflation for last 5 years.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.37-47
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• 2022

This study uses monthly data from January 2009 to December 2020 to examine the effectiveness of foreign currency intervention and its influence on monetary policy in Vietnam using a Hierarchical Bayesian VAR model. The findings suggest that foreign exchange intervention has little influence on the exchange rate level or exports, but it can significantly minimize exchange rate volatility. As a result, we can demonstrate that the claim that Vietnam is a currency manipulator is false. As well, the forecast error variance decomposition results reveal that interest rate differentials mainly determine the exchange rate level instead of foreign exchange intervention. Moreover, the findings suggest that foreign exchange intervention is not effectively sterilized in Vietnam. Inflation is caused by an increase in international reserves, which leads to an expansion of the money supply and a decrease in interest rates. Although the impact of foreign exchange intervention grows in tandem with the growth of international reserves, if the sterilizing capacity does not improve, rising foreign exchange intervention will instead result in inflation. Finally, we use a rolling window approach to examine the time-varying effect of foreign exchange intervention.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.49-59
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• 2022

The relationship between income inequality and capital account openness is empirically investigated in this study, where macroeconomic variables have opposing effects. Panel data used in the study from the KAOPEN Index and World Bank consists of 28 Asian countries and has been examined; it contains annual observations from 1970 to 2018. The data is examined using a random-effect model based on GMM estimates. Income inequality and capital account openness are positively and significantly related, according to our findings. Overall, the findings imply that increasing income gaps reduced capital investment in nations with large discrepancies. The growing economic discrepancy is being caused by the rich's increasing income share at the expense of the poor. In Asia, inward capital account openness exacerbates income inequality, while outward capital account openness exacerbates it. As a result, income inequality slows economic growth, leading to inflation, unemployment, and increased government spending in several Asian countries. Our control factors, GDP, and other secondary school enrolments, all had a statistically significant negative relationship with income inequality. Income disparity has a positive and statistically significant association with government spending, inflation, population, trade openness, and unemployment. Income disparity has a negative association with capital account openness, gross domestic product, and secondary school enrollment.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.235-243
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• 2022

To help the industry, outsourcing was found to be the most efficient method. An extensive literature analysis was done to assess the macroeconomic factors associated with outsourcing to supplement the anxious parties' decision-making process with evidence-based comprehensive tools. As a theoretical framework for evaluating these issues, transaction cost economies and resource-based perspective theories are investigated. Outsourcing is proven to be a result of energy crises and political instability. The advantages of outsourcing assist major industries in the economy. To discover the key drivers behind outsourcing, we used the vector autoregressive (VAR model) and step-wise regression techniques for the period 1992 to 2016. This research adds to the literature in that it not only explains the energy issue but also discusses the dilemma of political instability in the country in the context of outsourcing. The findings indicate that labor cost and export tendency have a positive impact on outsourcing strategy, which confirms the study's third and fourth hypotheses. Customs tax, inflation, and the unemployment rate, on the other hand, have a negative impact on textile outsourcing in Pakistan, according to the study's fifth, sixth, and seventh hypotheses.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.1
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• pp.181-187
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• 2023

The study aimed to study the effect of the inflation rate, the real domestic product, the interbank lending interest rate, and the total deposits on credit facilities in Jordan for 2012-2021 through quarterly data. The study adopted the ARDL model. The study used the time series analysis method, as the study tests the stationarity of the time series. The results showed that the impact of inflation on the total credit facilities was negative. In contrast, the impact of each of the total deposits, real GDP, and the interest rate of interbank loans on the total credit facilities was positive and significant. The study recommended the need for the banking sector in Jordan to develop risk management mechanisms in a way that allows it to adapt to economic cycles and crises by conducting stress tests and developing scenarios that ensure the formation of sufficient provisions to meet emergencies. The study also recommended that the macroeconomic policy should be based on creating a stable macroeconomic environment that allows the efficient employment of resources in all economic sectors in a way that achieves high economic growth rates, which contributes to the promotion of economic recovery and is reflected in income. Hence, individuals have a greater ability to repay loans.

• Asian Journal of Business Environment
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• v.14 no.1
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• pp.23-30
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• 2024

Purpose: The purpose of this research is to explore the macroeconomic model through both static and dynamic equations. The primary objective of this study is to investigate the variations in the elasticity of substitution across changing economic variables within the framework of the Allen-Uzawa production functions. Research, design, data and methodology: The data were drawn from the World Bank's annual central statistical office database from 2010 to 2021 in the United States of America. The level of expenditures and of the public finance sector, macroeconomic data like output, inflation rates, and labor are examined. Results: This study demonstrates the interaction of two equations, clarifying that the macroeconomic model is practical to determining the stability of both static and dynamic equation systems analytically. The Allen-Uzawa equations allow for the verification of macroeconomic model properties, and study results demonstrate an increase in the range of capital uses as a form of mechanization. A constant elasticity of substitution function is derived from the macroeconomic variables. Conclusion: The macroeconomic model, though the analysis of the static and dynamic Allen - Uzawa model, not only facilitates the examination of long-term trends in crucial endogenous variables but also overcomes challenges commonly associated with other mathematical methods. Overall, the analysis promotes economic growth, investment, and employment. The levels of expenditures and the public finance sector, along with macroeconomic data such as output, inflation rates, and labor, are examined.

• The Journal of the Convergence on Culture Technology
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• v.10 no.4
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• pp.575-580
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• 2024

Detecting the status of websites, normal or phishing, is necessary to defend against intelligent phishing attacks. We propose a machine learning-based classification to predict the status of websites. First, we collect information about 'URL', convert it into numerical data, and remove outliers. Second, we apply VIF(Variance Inflation Factors) to understand the correlation and independence between variables. Finally, we develop a phishing website detection model with machine learning-based classifications, which predicts website status. In the test datasets, Random Forest showed the best performance, with precision of 93.74%, recall of 92.26%, and accuracy of 93.14%. In the future, we expect to apply our model to detect various phishing crimes.

• Journal of the Korean Geosynthetics Society
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• v.16 no.3
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• pp.21-30
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• 2017

Cement grouting method is generally applied for the purpose of reinforcement of deteriorated reservior. Problems have been raised due to the limit of the injection material. In order to solve these problems, various grout materials have been developed. However, there are many cases in which the grounds are disturbed in actual field. In this study, the physical properties of hybrid grout with high fineness and high viscosity characteristics were analyzed to enable penetration into the ground. Optimum inflation agent was selected and mixed with the grout. The pressure and compaction effect on expansion was examined and its effectiveness was verified. From the result of confirming expansion ratio, uniaxial compressive strength, expansion pressure and compaction effect, the HI-E (2%) sample was analyzed to be excellent in improvement effect by the inflation agent. Hence, hybrid grout can be effectively applied for the impermeable and reinforcement method of deterioration reservoir and tide embankment.