• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.283-289
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• 2022

Public investment is the process of investing capital in projects that serve national interests and thereby create a driving force for economic development in each country. Especially in developing countries, investment capital is limited, so improving the efficiency of public investment becomes a decisive factor for economic development and enhancing the country's status and ultimately making the country a should be rich. Vietnam has a low starting point, has gone through the doi moi process, and has gradually become a middle-income country, and public investment is attracting attention to improve the quality of the country's infrastructure. The objective of this study is to evaluate the factors affecting the effectiveness of public debt management in Vietnam, through a survey of 150 experts with knowledge of public investment and public debt management, using the results of the estimation through the Using SPSS software, the research results show that the monitoring system and human resource quality have an impact on the effectiveness of public debt management. The study could not, however, discover any proof of the influence of institutional quality, geographic location, or accountability on the effectiveness of public debt management. The research also addresses several policy recommendations for Vietnam that would help the country manage its public debt better in the future.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.9
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• pp.121-129
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• 2022

For decades, Vietnam has been concerned about the need to improve human capital to meet the demands of a knowledge-based economy. The analysis of the country's current situation of human resources in terms of structure, quantity, and the quality shows that Vietnam's human resources are under-qualified compared with other countries in Southeast Asia, such as Thailand, Malaysia, and Singapore. This poses significant challenges to the economy because the development of human resources is always an urgent requirement for a new economy with fast growth, like in the Vietnamese economy. To attract foreign investment capital and develop more strongly, human resources in Vietnam must have progressed in both quality and quantity. Therefore, the author conducts this study to find out the factors that directly affect the quality of human resources, thereby evaluating and offering appropriate solutions to improve the quality of current human resources in Vietnam. More specifically, through quantitative analysis and survey with data about 4000 employees in Ho Chi Minh City, the author has discovered that there are four important factors that make the difference in labor quality, which are age, gender, marital status, and education level of the workers.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.53-60
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• 2021

Foreign direct investment (FDI) is especially important for developing countries. This study investigates the determinants of FDI in the case of Indonesia. Most empirical researches in this field used time series data of a single country or panel data of several countries. Although panel data analysis is more comprehensive, however results taken from cross-country analysis cannot be directly applied to any specific country in the dataset and therefore lacks practicality. In this research, panel data analysis of a single country is performed to overcome the aforementioned shortcomings. Five determinants of FDI are tested using panel data of 33 Indonesian provinces over 10-year period of time. Two methodologies are adopted, random/fixed effects model and Granger Causality. The results show that only market size significantly affects FDI when tested using both methodologies. Human capital and financial market development show significant result in one of the two methodologies. While, economic growth and infrastructure did not show any significant results at all. This research stresses the importance of comprehensive single country analysis since only one out of five commonly discussed determinants is applicable in the case of Indonesia. Governments should therefore carefully reconsider the use of cross-country analysis as a basis of their policy formulations.

• The Journal of the Korea Contents Association
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• v.15 no.8
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• pp.564-578
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• 2015

The present study is aimed to investigate antecedents(person-job fit, human capital investment) and outcome variable(subjective career success) of continuous-related career learning, and to demonstrate mediating effects of continuous-related career learning. The data which was applied to analysis was collected from 241 office workers who have worked for automobile company in Ulsan and public companies in Jeju and applied temporal separation of measurement as an alternative for common method bias. The results are as follows. First, person-job fit, human capital investment affected to career-related continuous learning positively. Second, the impacts of career-related continuous learning to subjective career success was positively significant. Third, the mediating effects by career-related continuous learning demonstrated statistically significant in the links between antecedents-outcome variables as partial mediation. Implications of this study contribute to expand research area of continuous-related career learning with regard to job and organizational variables, and to facilitate of research interests on subjective career success. In addition, the mechanism of career advance was empirically proved by continuous-related career learning.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.1
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• pp.86-98
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• 2011

Venture capital companies and funds play the following roles: to find small and medium-sized enterprises(SMEs) which face equity gap but possess high-growth potential, to make equity investment in such SMEs, and to intensively support the invested firms' growth in order to gain the maximum profits from the investment via maximization of the firms' values. This work discusses the issue of how such roles of venture capital can be used in a stable manner within individual non-Capital regions of Korea for fostering the start-up and growth of promising SMEs and thereby advancing local/regional economic development. The principal portion of my discussion deals with Regional Venture Capital Fund(RVCF) of UK and its policy implications for the Korean context. Additionally, the work conceptually explores roles of venture capital and local/regional development, and it empirically examines how such venture capital's functions are recently used for the business start-up and growth in the non-Capital regions of Korea.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.489-495
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• 2020

Income inequality is a problem that is not only faced by developing countries such as Indonesia, but also developed countries. The difference lies in the proportion of an inequality that occurs and the solution to the level of difficulty experienced. Thus, this study aims to empirically analyze the unequal distribution of population income in Java island, Indonesia, by including the human development index, open unemployment rate, foreign investment, and the degree of fiscal decentralization. The research model used in this study was multiple linear regression to analyze the panel data with a fixed-effect model approach. The results of the study showed that human development index, open unemployment rate, and the degree of fiscal decentralization had a positive and significant effect on income inequality in Java island. Meanwhile, foreign investment had a negative and insignificant effect on income inequality in Java. It is because the value of the investment is more invested in the capital-intensive sector. The government is expected to be more selective in accepting foreign investments that enter the country, especially in Java, and it should be labor-intensive investments. In addition, the government has to equalize locations for foreign investment without reducing good cooperation with these foreign investors.

• The Journal of Asian Finance, Economics and Business
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• v.3 no.4
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• pp.57-66
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• 2016

Foreign Direct Investment (FDI) plays a vital role in economic growth of the countries. The present study analyses the impact of the FDI on economic growth of South Asian Association of Regional Cooperation countries by using the pooled data for the period 1990-2014. Neo-classical production function has been used for analysis and getting stock-to-flow estimation, Taylor series approximation has applied. Fixed Effects Model has been used to investigate the impact of FDI, domestic capital, labour and government expenditures on economic growth. It is the evident from the results that both domestic investment and FDI have been a positive effect on economic growth. The study finds that the contribution of domestic private investment is more trustworthy than the contribution of FDI. Consequently, FDI loses its attraction as an engine of growth if the adverse balance of payment consequence of the resulting profit repatriating is also taken into account. The labour has positive and significant association with GDP. The effect of government expenditure is negligible on economic growth. The findings suggest that growth strategy cannot yield the long term benefits if it neglects investments on human capital.

• Journal of Labour Economics
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• v.26 no.3
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• pp.29-47
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• 2003

The study analyzes how effective the Government Internship Program has been on accumulation of the human capital. The Program was designed under the foreign exchange crisis to support the new, but unemployed graduates with MA or Ph.D degree in the science and the engineering fields. The survey data is collected from the participants in the Program. The Tobit model is estimated to find the economic effects of the Program in terms of the rate of return of investment in the human capitals of the intern researchers. Considering that the Program is tentative and that the human capitals of the participants are easily obsolescent, the rate of return is observed to be substantially large. These results imply that the Internship Program has been successful in terms of providing not only the researchers with the opportunity to accumulate the human capital by means of the on-the-job-training, but also the institutes or the firms with the opportunity to utilize the high-quality researchers at the low cost.

• Korea Trade Review
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• v.43 no.2
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• pp.47-67
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• 2018

The purpose of this study is to determine factors of FDI inflows which positively influence economic development. While MNCs ultimately decide on which country to engage in FDI, it can be affected by the general investment environment of host countries. Thus, it may be closely linked to national macro socio-economic factors. In the fixed-effect panel regression analysis using 30 years of data of 13 developed countries and 15 developing countries, results indicate that labor redemption exerts the greatest influence on global FDI inflows; this implies that FDI decisions are based on locations featuring higher productivity by the reduction of labor costs. According to the level of economic development, the motive of FDI inflows differs. In developed countries, GDP, government expenditure and consumer expenditure exert the greatest influence on FDI inflows; which shows characteristics of market seeking and horizontal investment. However, in developing countries, labor redemption and human capital exert the greatest influence on FDI inflows; which shows characteristics of efficiency seeking and vertical investment.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.18 no.36
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• pp.349-363
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• 1995

The purpose of the study was to estimate and analyze the rates of return to educational investment. The study was designed to estimate the social and private rates of return to educational investment by school level and sex in order to measure education's economic value with a viewpoint of human capital theory. The produced result of this study are as follows. The social rates of return to education turned out to be male high school 7.94%, male junior college 3.74%, male university 8.50% female high school 4.30%, female junior college 10.11%, female university 6.92%. The private rates of return to education turned out to be male high school 8.41%, male junior college 3.39%, male university 8.38%, female high school 7.90%, female junior college 10.34%, female university 7.33%, In order to measure economic value of educational investment, rates of return to education were compared with those to physical capital investment. Social rates of return to education turned out to be profitable for female junior college, while for private rates of return to education turned out to be profitable in all school levels except for male junior college.