• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.23-31
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• 2022

The study investigates the effect of trade openness on the economic growth of agricultural countries. The information of export, import, gross domestic product (GDP), Gross Fixed Capital Formation (GFCF), and population of 72 agrarian nations generated by the World Bank from 2011 until 2020 is used for data examination. Then, before panel data analysis, a preferred model is chosen from among common-effects, fixed-effects, and random effects. The best model turns out to be a fixed-effect model. The result reports that from 2011 to 2020; 16 out of 72 nations have succeeded in experiencing positive economic growth, the value of GFCF was US$ 2,859.04 billion, and later grew by 19 percent to US$ 3,393.73 billion, the population tends to increase continuously year by year, and 2 out of 72 countries experienced export plus import exceed their GDP. Moreover, trade openness is positively associated with economic growth, with a coefficient of 3.81. Besides that, an increase in GFCF may boost economic growth by approximately 3.32 percent. On the contrary, one percent additional population significantly delivers around 25.46 percent negative economic growth. To sum up, the higher intensity of products or services sold and bought abroad may enhance the economic performance.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.625-633
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• 2021

Bangladesh's growing foreign aid has sparked controversy over whether it affects the country's economic performance. This review assesses foreign aid's influence on the country's economic growth with annual data covering the 1989-2018 period. The Autoregressive Distributed Lag (ARDL) model is applied to achieve the research objective, and the empirical results indicate a substantial and robust impact of foreign assistance on economic growth. The outcome further reveal that domestic investment also contributes significantly to the country's economic evolution. However, trade openness plays a substantial positive role in the short run, although the impact is immaterial in the long run. The empirical findings indicate that the association between aid, domestic investment, and growth has a confident meaningful effect at 1 per cent level in the long run, whereas aid influences more than domestic investment. However, in the short run, aid, domestic investment, trade openness, and growth show positive and noteworthy response also at 1 percent level. This review undertakes a detailed analysis about the country's economic growth, and grounded on its outcome, this work suggests that focus should be placed more on creating domestic investment, promoting more export, and allocation of aid should be determined by the relative needs of the country.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.643-651
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• 2021

This study aims to determine the response of regional economic growth to the financial performance of regional economies in regard to the liquidity conditions, saving-investment gaps, trade openness, inflation, as well as the national economic growth. The basic logic theory of research uses the principles of open economics and financial intermediary systems. The data used in this study are secondary data, and the form of data is a quarterly time series for the period from 2008 to 2019. The data were obtained from various publications, such as the Central Statistics Agency (CSA), Regional Financial Economics Statistics (RFES), Indonesian Banking Statistics (IBS), and the Financial Services Authority (FSA). Data processing was done through VAR/VECM analysis; short-term and long-term equilibrium analyses were carried out. The results of the analysis illustrate that regional economic growth and the conditions of liquidity, saving-investment gaps, trade openness, inflation, and national economic growth are related and lead to significant impact variations in the provinces of Papua and West Papua. In conclusion, the findings of this research support the leading supply hypothesis and reformulate the strategy and policy of economic development, bearing in mind that there are still many underdeveloped districts in these two provinces.

• KDI Journal of Economic Policy
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• 제34권1호
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• pp.87-133
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• 2012

본 논문은 경제의 개방화 진전이 고용구조에 어떠한 영향을 미치는지에 대한 주제를 다루고 있다. 이를 위해 본 논문은 경제주체의 이질성(heterogeneity)을 가미하여 Romer(1990)의 내생적 성장모형을 확장하였다. 이와 같은 이질성에 기반하여 본 모형은 한 경제의 고용구조(숙련 및 미숙련 부문의 상대적 고용의 크기)가 숙련노동의 수요 및 공급 조건에 따라 어떻게 결정되는지를 설명한다. 본 모형은 폐쇄경제에 기반하고 있으나 개방경제의 경우로 확장 가능하다. 개방경제의 경우로 확장된 모형에 따르면, 경제의 개방화 진전은 다음과 같은 두 가지 경로를 통해 고용구조에 영향을 미친다. 하나는 생산특화(specialization)를 통한 경로로서 개방 경제하에서 각국은 비교우위에 기반하여 부문별 생산량을 결정하는데, 이에 따라 부문별 노동수요가 결정되고 이는 고용구조에 영향을 미치게 된다. 다른 하나는 지식확산(knowledge spillover)을 통한 경로로서 경제의 개방화 진전은 지식확산을 촉진하는데, 이는 부문별 노동생산성에 영향을 미치고 따라서 고용구조에도 영향을 미치게 된다. 21개국의 국제패널자료를 이용하여 실증분석해 본 결과, 경제의 개방화 진전은 상기한 모형이 설명하는 바와 같이 위의 두 가지 경로를 통해 고용구조에 영향을 미침을 확인할 수 있었다.

• The Journal of Asian Finance, Economics and Business
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• 제9권2호
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• pp.305-312
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• 2022

Each country's economic progress creates opportunities for its citizens to raise their income. Meanwhile, the country has secured the people's social security policies, particularly the protection of income equality, to promote harmonious and sustained economic development. Vietnam has been located in a dynamic economic development area in Southeast Asia since the 1986 economic reforms, with an annual growth rate of around 7%. Meanwhile, having achieved a middle-income status of roughly 3500 USD per person per year, Vietnam is attempting to maintain income equality and access to welfare systems for its inhabitants. As a result, the primary goal of this study is to use an autoregressive distributed lagged model to investigate the effects of income inequality and other economic factors such as foreign direct investment and trade openness on Vietnam's economic growth from 1992 to 2019. The research focuses attention on literature on income inequality, economic development indicators, and economic development in unique ways in this study. Income inequality slows the rate of change in economic development in the same year, according to our findings. Finally, the study will make policy suggestions to the Vietnamese government.

• 국제지역연구
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• 제13권3호
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• pp.269-286
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• 2009

환경과 개방화 그리고 경제성장에 대한 전통적 주장과 이를 반박하는 주장간의 논쟁은 끝나지 않고 있고, 두 가설을 검증할 수 있는 명확한 이론과 연구가 부재한 상황이다. 본 논문에서는 경제성장, 오염수준, 개방화를 설명하는 변수들을 설정하여 한국에서의 개방화와 경제성장, 오염수준과의 관계를 살펴보고 환경쿠즈네츠 곡선 가설을 검증하였다. 검증결과 한국에서는 개방화가 진전될수록 GDP가 상승하였고 개방화와 경제성장이 환경에 부정적 영향을 준다는 전통적 입장과 달리 환경수준과 개방화 및 경제성장은 정(正)의 관계로 나타났다. 즉, 개방화와 경제성장이 진행될수록 환경수준이 높아졌다. 이는 한국으로 유입되는 외국 자본의 성격이 오염집약적 산업이라기 보다는 친환경기술을 보유한 첨단기술산업임을 시사한다. 결론적으로 우리나라의 경우, 개방화와 외국자본의 유치는 환경오염을 가속화시킨다는 전통적인 가설과 달리 우리 경제를 성장시키고 환경수준을 높이는 효과를 가져온 것으로 추측된다. 아울러 교역이 증가해도 환경수준이 악화되지 않으며, 환경규제가 경제성장의 요인인 개방화를 감소시키지 않는다는 결론을 도출하였다. 이 결과는 수출경쟁력 약화 혹은 경제성장 둔화를 발생시키지 않고도 환경규제를 통해서 오염수준을 개선시킬 수 있음을 시사한다.

• East Asian Economic Review
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• 제19권1호
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• pp.71-97
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• 2015

This study examines the effects of several factors indicating economic openness-imported intermediate goods, total imports, IFDI (inward foreign direct investment), and foreign ownership-on regular, irregular jobs and the ratio of irregular employment to regular employment. Findings revealed that imported intermediate inputs and IFDI affected neither regular nor irregular job figures. However, an increase in total imports led to a decrease in the number of irregular jobs without affecting regular full time jobs, leading to a decrease in the ratio of irregular jobs to regular jobs. On the other hand, changes in foreign ownership structure had a contrary effect, that is, a decrease in the number of regular jobs and an increase in irregular ones, and, thus, an increase in the ratio of irregular jobs to regular jobs. Overall results showed that a rise in imports results in depressed overall employment, irregular employment in particular, while more IFDI results in more irregular jobs replacing regular ones, effectively exacerbating job insecurity. The implication of this analysis is that greater economic openness may have a negative impact on the South Korean labor market overall.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.111-118
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• 2021

The purpose of this paper is to study the impact of trade openness on foreign direct investment (FDI) inflows into Vietnam, an emerging country with relatively high trade openness in recent years. The study used the vector autoregression (VAR) model to examine the impact of trade openness on FDI in Vietnam, in the period from 2005 to 2019. The research data are time-series data, with quarterly frequency, from 2005:Q4 to 2019:Q3. The FDI data were collected by International Financial Statistics. The data of trade openness were calculated based on Vietnam's export, import, and GDP data collected by the General Statistics Office of Vietnam. The estimated result shows that the trade openness has a positive effect on FDI. The current FDI is heavily influenced by FDI in the past with an average explanation of 74%. The main findings indicate that trade openness has a positive effect on FDI inflows into Vietnam. The findings also show that FDI in Vietnam is significantly affected by the shocks of the FDI itself in the past. The findings of the study suggest the Vietnamese Government improves the quality of trade openness and FDI, continues and maintains economic relations with other countries to increase trade openness.

• 통상정보연구
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• 제12권2호
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• pp.239-265
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• 2010

After reform and openness action, china has been recorded high rate of increasing in export and continuous economic growth. Also their role in the international economy has been rise. The major reason of these incredible growth of China is the openness by a trade, after all the economic growth of China is evaluated an export-led growth. But, some insist that the growth of China has been accomplished by a domestic-based economy not but an export-led economy. For verification of former insists, using a yearly data, China exports and GDP, from 1979 to 2007 and performs time-series to examine an existence of causality between China's regional exports and GDP. As result of analysis, GDP and exports have two-way causality significantly when not considering region case. After the direction of Chinese reform, the east region has a strong significant relation, which support that export-led growth. While, middle and west region has weak causality between exports and GDP.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.693-702
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• 2020

The present study aims to investigate the impact of tourism growth on human development in Indian economy. For this purpose, the study uses annual data from 1980 to 2018 and utilizes two proxies for tourism growth - tourism receipt and tourist arrivals - and uses human development index calculated by UNDP. The study uses control variables such as government expenditure and trade openness. The study employs auto regressive distributed lag (ARDL) approach to investigate the cointegrating relationship among the variables in the model. Further, the study also explores the causal nexus between tourism sector and human development by using the Toda-Yamamoto Granger non-causality test. The result of ARDL bounds test reveals the existence of cointegrating relationship between human development indicators, government expenditure, trade openness, and tourism sector growth. The cointegating coefficient confirms a positive and significant relationship between tourism sector growth and human development in India. The causality result suggests that economic growth and tourism have a positive impact while trade openness has a negative impact on human development in India. The major findings of this study suggest that tourism plays an important role in the socio-economic development of Indian economy in recent years and the country must develop this sector to achieve sustainable development.