• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.161-173
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• 2020

This study examines the nonlinear relationship between financial development and economic growth in Pakistan using the threshold regression model for the period 1980-2017. We also employed quantile regression with 0.25, 0.50, and 0.75 quantiles of conditional distribution. The quantile regression is based on minimizing of sum of squared residuals. The result indicates that economic growth responds positively to financial development when the level of financial development surpasses the threshold value of 0.151. However, when financial development lies below the threshold value (that is, 0.151), its impact on economic growth is negative. Thus, when financial development of Pakistan surpasses the threshold level, it contributes more towards economic growth since greater level of financial development contributes more to boosts economic growth. This finding reveals that economic growth reacts differently to financial development, and the relationship between financial development and economic growth is U-shaped in Pakistan. Among the other variables, physical capital, labor force, and government expenditure exert a positive effect on economic growth. Furthermore, inflation rate and trade openness have an insignificant impact on economic growth. The results of quantile regression also confirm the non-linear relationship between financial development and economic growth in Pakistan. The finding of this study suggests revamping of financial sector policies in Pakistan.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.21-31
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• 2020

This study investigates the dynamic effects of economic development, international cooperation, electricity consumption, and political risk on the escalation of CO₂ emission in Vietnam. We adopted autoregressive distributed lag model and Granger causality method to examine the interaction between CO₂ and various economic and political factors, including foreign direct investment, trade openness, economic growth, manufacture, electricity consumption, and political risk in Vietnam since the economic revolution in 1986. The findings reflect opposite influence between these factors and the level of CO₂ in the intermediate and long-term durations. Accordingly, foreign direct investment and CO₂ emission have a bidirectional relationship, in which foreign direct investment accelerates short-term CO₂ emission, but reduces it in the long run through an interactive mechanism. Moreover, economic development increases the volume of CO₂ emission in both short and long run. There was also evidence that political risk has a negative effect on the environment. Overall, the findings confirm lasting negative environmental effects of economic growth, trade liberalization, and increased electricity consumption. These factors, with Granger causality, mutually affect the escalation of CO₂ in Vietnam. In order to control the level of CO₂, more efforts are required to improve administrative transparency, attract high-quality foreign investment, and decouple the environment from economic development.

• 디지털융복합연구
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• 제18권4호
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• pp.75-80
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• 2020

본 연구는 중국시장에서 미시 및 거시적 국가이미지가 브랜드태도에 영향을 미치는 영향관계에서 브랜드친숙도, 개방성의 조절효과를 검증하였다. 이를 위해 기존 문헌에 대한 고찰을 바탕으로 거시적 국가이미지의 하위 요인을 경제적 이미지로 사용하였다. 본 연구에서 사용된 연구 방법은 주로 선행 문헌 연구 방법과 실증 연구 방법을 포함하며, 선행연구 이론들을 바탕으로 연구 모형을 수립하고 관련 연구 가설을 설정하는 동시에 중국소비자를 설문 대상으로 선정하여 설문 조사 및 데이터 수집을 실시하고 모형의 적합성 테스트 및 연구 가설에 대해 검증하였다. 본 연구의 결과, 미시적 및 거시적 국가이미지는 브랜드 태도에 정(+)의 영향을 미치고 브랜드 친숙도와 개방성은 미시적 국가이미지에는 조절효과 없는 것으로 분석되었고 거시적 국가이미지(경제이미지)에는 조절효과가 있는 것으로 분석되었다. 본 연구의 결과는 중국시장에서 중국과 밀접한 관계를 맺고 있는 한국, 미국, 일본기업들의 다양한 비즈니스 전략을 활용하는데 시사점을 제공하고 있다.

• The Journal of Asian Finance, Economics and Business
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• 제7권6호
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• pp.109-116
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• 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.

• 유통과학연구
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• 제14권3호
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• pp.39-44
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• 2016

Purpose - The purpose of this research is to investigate whether Korea's economic growth can be explained by the endogenous growth theory. Specifically, we test whether R&D expenditure has a positive and significant effect on the economic growth. Research design, data, and methodology - We hypothesize that R&D expenditure has a positive effect on the economic growth after adding control variables in the growth equation. Korean annual data from 1963 to 2011 from Science and Technology Annual of the Ministry of Education, Science and Technology, the Bank of Korea, etc. are used. We estimate the growth equation by GMM in addition to OLS. Results - We found that R&D expenditure has a positive and significant effect on the economic growth after adding the ratio of investment to GDP, the ratio of FDI to GDP, the ratio of government expenditure to GDP, inflation and the ratio of trade openness to GDP as control variables in the growth equation. Conclusions - Our results show that Korea's rapid economic growth for the past five decades can be explained by the R&D-based endogenous economic growth theory. Our results suggest that the policy attention of the Korean government be paid to R&D promotion.

• The Journal of Asian Finance, Economics and Business
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• 제6권1호
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• pp.107-119
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• 2019

This paper examines the impact of financial integration on economic growth in Southeast Asia over the period 1993-2013. This paper further investigates whether the relationship depends on the level of financial and economic development, government corruption, and macroeconomic policy. These questions raise important issues both from a theoretical and a policy perspective. We employ the generalized methods of moment (GMM) in the dynamic panel estimation framework to analyse several factors, including initial income, initial schooling, financial development, inflation, trade openness, corruption, and financial crisis. The study further analyzes the data using the EGLS model to examine the consistency of the GMM model. We found that financial integration has a significant positive effect on economic growth in Southeast Asia. Our findings suggest that increasing financial integration could improve the productive capacity of the economy, including more investments and efficient allocation of capital, and thus enhancing economic growth in this region. More specifically, the results suggest that the government should work towards eliminating corruption and stabilizing macroeconomics in order to enhance financial integration and economic growth. This paper sheds new insights on a better evaluation of the past and present theorizing on the subject of financial integration and economic growth; especially, in Southeast Asia.

• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.203-211
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• 2022

Foreign direct investment (FDI) has increased at an exponential rate during the last two decades. It is now a feature of emerging market economies as well. Foreign direct investment and financial development are important factors in an economy's growth. Various studies have examined the impact of foreign direct investment and financial development on economic growth in different countries and areas. However, the findings are currently inconclusive. Using updated data from 1970 to 2020, this study will examine the relationships between FDI, financial development, and economic growth in 30 rising economies.GDP is the dependent variable, while FDI, financial development, trade openness, infrastructure, exchange rate, and GDP growth are the independent factors. To estimate the panel data, we used the most recent econometric models. The study's major findings suggest that FDI and financial development are critical determinants in emerging economies' economic progress. Furthermore, multiple robustness checks supported the study's empirical findings. The results of this study include various practical recommendations for investors, governments, and policymakers, given the increased interest in global economic integration and member states' reliance on FDI as a critical aspect of sustaining prosperity.

• The Journal of Asian Finance, Economics and Business
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• 제5권3호
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• pp.157-167
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• 2018

This research aims to generalize the conceptual basis of precariousness of employment, study the factors and scale of unsustainable of employment in the countries of the Eurasian Economic Union (EAEU). The concept of precariousness of employment is formed in social and economic studies about 40 years ago, but objective and subjective conditions and forms of unsustainable employment existed before. This study proposes a classification of forms of precariousness of employment on 16 criteria: the duration and timing of agreements, contract terms, the nature of income; the degree of labor autonomy; the level of formality; the level of openness; the level of vulnerability; the conditions of growth of qualification; the level of flexibility; the level of stability; regularity; the severity of the danger of work; in relation to the workplace; the quality of employment, the level of social security. In this research highlighted factors (globalization, demography, migration, structure factors, shadow and informal economy, social development and living standards, unemployment), and systematized certain trends of precariousness of employment, channels and means, forms of manifestation. The empirical analysis identified of the labor potential of the Eurasian countries and new quantitative estimates of the levels of unsustainable employment in the Eurasian Economic Space.

• 기본간호학회지
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• 제12권3호
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• pp.362-373
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• 2005

Purpose: this study was carried out to identify family environmental factors related to changes in sexual attitudes through a sexuality education based on correct sexual attitude for middle school students. Methods: The subjects were 141 students (67 boys and 74 girls) in 4 classes of the first grade of a coeducational middle school, in Seoul. The school nurse provided the sexuality education for 18 hours over 16 weeks. Results: After the sexuality education, there was a significant increase in sexual attitude(t=59.06, p<.001). For family environmental factors related to changes in sexual attitude,'relationship with parents' was a significant factor for both boys and girls. For the girls, there were many other related factors such as 'parents' openness', 'family structure', and 'economic status'. Significant factors were 'Family structure' for attitude to abortion and 'parents' openness' for attitude to intercourse before marriage. Conclusions: Based on these results, systematic sexuality education is needed to enhance correct sexual attitudes in youth. To increase the effect of sexuality education, it should include contents to improve relationships with patents. Also, for parents, programs to improve relationships with their children and to change the values such as openness may also be required.

• 한국지역사회생활과학회지
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• 제24권3호
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• pp.355-368
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• 2013

This research was performed for examining the differences of experience of sex education and the awareness of sexual abuse according to child's sex and economic background. Also the differences of sex knowledge and sexual consciousness were analyzed according to child's sex, economic background and sex education. Subjects were 425 children from two elementary schools and 10 community child centers in H city, Gyeonggi-do. The results were as follows. First, more girls thought the desirable place for sex education was home and more girls consulted sexual problems with their parents. Children from low economic backgrounds experienced sex education at school and community child centers rather than at home. Second, both boys and girls replied that sexual abuse was due to the attacker's fault but more girls than boys attributed the fault to themselves. Third, girls' sex knowledge grade was higher than boys. Fourth, boys showed a more open attitude toward heterosexual dating, and children with a low economic background showed a higher sex drive. Fifth, a high sex drive was related to low sexual knowledge, openness in dating and high sexual ethics.