• Journal of Korea Port Economic Association
• /
• v.27 no.3
• /
• pp.1-12
• /
• 2011

The effect of real exchange rate changes on trade balance is called the J-curve effect. That is, after real depreciation, the trade balance will deteriorate in the short run and improve in the long run. Specially, import and export prices respond with little or no decline in volume. Assuming a zero initial trade balance and dominance of the exporter currency in invoicing trade contracts, the trade balance continues to deteriorate in the medium term. Over time, the relative price-induced volume effect comes to dominate the price effect and the trade balance improves. This pattern of the trade balance adjustment is commonly referred to as the J-curve effect. This study examines the effects of changes in the exchange rate on the Korean port trade balance to China. The empirical results indicate that whilst there is J-curve effect in the short-run, but in the long-run, the real depreciation of the Korean won has positive impact on port trade balance to China.

• Journal of Information Technology Services
• /
• v.6 no.2
• /
• pp.125-143
• /
• 2007

IT Services market is growing rapidly in the business industry and SOA-based Web Services have been introduced as an effective vehicle for the integration of enterprise-wide applications within organizations. The number of publicly available Web Services is ever increasing recently in a variety of areas, and as the number of public Web Services increases, there will be many Web Services with the same functionality. These services, however, will vary in their QoS properties, such as price, response time and availability, and it is very important to choose a right service while satisfying given QoS constraints. This paper addresses the issue of selecting composite Web Services which involves conditional branches in business processes. It is essential to have any conditional branches satisfy the global QoS constraints at service selection phase, since the branches are chosen to execute at run-time dynamically. We proposed service selection procedures for basic structure of conditional branches and explained them by examples. Experiments were conducted to analyze the impact of the number of candidate services and service types on the time of finding service solutions.

• Journal of Korean Society of Water and Wastewater
• /
• v.25 no.3
• /
• pp.407-417
• /
• 2011

Nowadays, the high land use, mainly used for urbanization, is affecting runoff loads of non-point pollutants to increase. According to this fact, increasing runoff loads seems like to appear that it contributes to high ratio of pollution loads in the whole the pollution loads and that this non-point source is the main cause of water becoming worse quality. Especially, concentrated pollutants on the impermeable roads run off to the public water bodies. Also the coefficient of runoff from roads is high with a fast velocity of runoff, which ends up with consequence that a lot of pollutants runoff happens when it is raining. Therefore it is very important project to evaluate the quantity of pollutant loads. In this study, I computed the pollutant loadings depending on time and rainfall to analyze characteristics of runoff while first flush storm water and evaluated the runoff time while first flush storm water and rainfall based on the change in curves on the graph. I also computed contribution ratio to identify its impact on water quality of stream. I realized that the management and treatment of first flush storm water effluents is very important for the management of road's non-point source pollutants because runoff loads of non-point source pollution are over the 80% of whole loads of stream. Also according to the evaluation of runoff loads of first flush storm water for SS, run off time was shown under the 30 minute and rainfall was shown under the 5mm which is less than 20% of whole rainfall. These are under 5mm which is regarded amount of first flush storm water by the Ministry of Environment and it is judged to be because run off by rainfall is very fast on impermeable roads. Also, run off time and rainfall of BOD is higher than SS. Therefore I realized that the management of non-point source should be managed and done differently depending on each material. Finally, the contribution ratio of pollutants loads by rainfall-runoff was shown SS 12.7%, BOD 12.7%, COD 15.9%, T-N 4.9%, T-P 8.9%, however, the pollutants loads flowing into the steam was shown 4.4%. This represents that the concentration of non-point pollutants is relatively higher and we should find the methodical management and should be concerned about non-point source for improvement on water quality of streams.

• International Journal of Highway Engineering
• /
• v.12 no.4
• /
• pp.1-9
• /
• 2010

Predictive information on the freeway incident impacts can be a critical criterion in selecting travel options for users and in operating transportation system for operators. Provided properly, users can select time-effective route and operators can effectively run the system efficiently. In this study, a model is proposed to predict freeway incident impacts. The predictive model for incident impacts is based on short-term prediction. The proposed models are examined using MARE. The analysis results suggest that the models are accurate enough to be deployed in a real-world. The development of microscopic models to predict incident effects is expected to help minimize traffic delay and mitigate related social costs.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.3
• /
• pp.163-172
• /
• 2019

The paper aims to investigate the impact of the gap between domestic and international gold price on money demand in Vietnam, an emerging economy in the Asian region. We use a quarterly database collected from the first quarter of 2004 to the fourth quarter of 2016. The time-series database includes 52 observations. The money demand is represented by M2; Domestic income is the Gross domestic product at the constant prices of 1994; Inflation rate is calculated by the Customer Price Index from the General Statistics Office of Vietnam. The result confirms the existence of a long-term cointegration relationship between the money demand and the gap between domestic and international gold price as well as some variables including domestic income, inflation, and real exchange rate. The regression results also show that the gap between domestic and international gold price has a positive impact on money demand in the Vietnamese economy. Besides, the domestic income and international gold price have positive impacts on money demand while the inflation and real exchange rate are negatively related in the long run. This proves that the gap between the domestic and international gold price really has a positive impact on money demand in Vietnam during the study period.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.5
• /
• pp.61-68
• /
• 2021

The exchange rate is considered a tool improving the volume of exports and reducing imports. This paper aims to determine the impact of the exchange rate on exports and imports between Vietnam and the United States in the context of the trade war. The research uses Autoregressive Distributed Lag (ARDL) and Nonlinear Autoregressive Distributed Lag (NARDL) Model in the time-series data from 2010:1 to 2020:9. The ARDL's results support that real exchange rate impact on export and import volumes, but less than the trade war. The trade war helps trade balance increase 0.35%, while the exchange rate increases trade balance 0.191% when the Vietnamese currency devalues 1% in the long run. In the short term, the real exchange rate makes the trade balance decrease. Therefore, the J curve exists between Vietnam and the U.S. The NARDL expresses that the exchange rate is asymmetric both in the short term and the long term. The findings of this study point to two important elements. Firstly, the exchange rate plays a minor role in exports and imports. Secondly, trade war plays a vital role in increasing exports and imports volume between two countries, and the J curve exists between the two countries.

• Asia-Pacific Journal of Business
• /
• v.11 no.2
• /
• pp.27-43
• /
• 2020

Purpose - This study explores the impact of the real estate industry on related industries for the perspective of Chinese steel companies. Design/methodology/approach - The impact of housing prices on the 41 listed steel companies' performance was analyzed by using the panel data model. We used two kinds of housing price indexes that are set in the panel data models to estimate the range of the real estate market, driving the performance growth of steel listed companies. Moreover, the net profit of steel companies is used as the dependent variable. To test the stability of the model, ROA used as a dependent variable for the robustness test. Also, to avoid the time trend of housing prices, this paper selects the growth rate of housing prices as the primary research variable. After Fisher-type testings, there is no unit root problem in both independent and dependent variables. Findings - The results indicated that the rise in the housing price has a positive influence on the steel company performance. When the housing price increases by 1%, the net profit of steel enterprises will increase by 5 to 20 million yuan. Research implications or Originality - In this paper, empirical data at the micro-level and panel model are used to quantify China's real estate industry's driving effect on the iron and steel industry, providing evidence from the microdata level. It helps us to understand further the status and role of China's real estate industry in the economic structure.

• The Journal of Economics, Marketing and Management
• /
• v.6 no.4
• /
• pp.29-39
• /
• 2018

Purpose - With the improvement of people's living standards, traveling abroad has become a common way for people to release the pressure of life and work. In economics, this kind of way can affect the international trade. Because of this background, this paper sets BRICS countries as an example to explore the impact of cross-border tourism on bilateral trade. Research design, data, and Methodology - The annual time series data sets form 1998 to 2016 are used to perform an empirical analysis under a series of econometric approaches such as the Phillips-Perron test and the Engle-Granger two-step test. In this paper, the cross-border tourism and the bilateral trade will be used to conduct an empirical analysis based on the econometric approaches to analyze the impact of cross-border tourism on bilateral trade. Results - The finding of this paper show that there is a long-run relationship between cross-border tourism and bilateral trade in this sample. Moreover, the cross-border tourism is the Granger causality of bilateral trade. Namely, the cross-border tourism can promote the development of bilateral trade. Conclusions - In short, the evidences that this paper presents show that the cross-border tourism is a driving factor that impacts the bilateral trade in the sample of BRICS countries.

• International conference on construction engineering and project management
• /
• 2011.02a
• /
• pp.614-620
• /
• 2011

Delays in completing construction projects have significant financial and social impact to all parties involved in the construction process and in particular in developing countries. This is very evident in most construction projects in Libya and in both public and private sectors. The research study was initiated by Libyan Government and the main aim of the project is to develop a new strategy in reducing the impact of delay factors. In order to achieve this, a number of objectives have been set-to conduct a comprehensive literature survey, to conduct a comparative study of the delay factors in project completion in both Libya and UK using semi structured questionnaire and finally, to identify and analyse the causes of delay and ranked them using frequency of occurrence and severity. The critical causes of delay for construction projects were quite different between Libya and UK. For the former, the most critical causes of delay in Libyan construction industry were low skills of manpower, changes in the scope of the project, slowness in giving instruction and poor qualification of consultant, while for the latter they were financial problems, bad weather conditions on the job site and change in the scope of project. Statistical experiments including Paired Samples T-Test, was run to test the significance of the survey data in both countries Libya and UK. The statistical results confirmed the collected data from the survey were significant.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.6
• /
• pp.109-116
• /
• 2020

The study examines the nexus between financial development and economic growth in India during Q1: 1996 to Q3: 2018. This study employs time-series data of real GDP and ratio of broad money to GDP as a proxy for economic and financial development, respectively. The data are obtained from RBI database on the Indian economy. All variables are seasonally adjusted using X12-arima technique and expressed in natural logarithm form. Non-linear Autoregressive Distributed Lag (NARDL) bound test has been used to check for cointegrating relationship of these two variables. Empirical findings suggest that, unlike in the short run, in the long run financial development does impact economic growth positively. Further, a symmetric effect of positive and negative components of financial development is found for the Indian economy, whereas the effect of control variable like exchange rate and trade openness is in consonance with common economic intuition. Exchange rate is in consonance with intuitive economic logic that a fall in exchange rate makes exports cheaper and increases the quantity of export, which improves the balance of payment and leads to a rise in aggregate demand, hence improves economic growth. This paper contributes to the existing literature on India by breaking down financial indicator into positive and negative components to examine the finance-growth relationship.