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The purpose of this paper is to test the productivity bias hypothesis that real exchange rate could deviate from its long-run equilibrium. To analyze the hypothesis, we estimated the long-run relationship between real exchange and productivity using the random effect, fixed effect and dynamic panel data model for 89 countries. The empirical results suggest that the increase in relative labor productivity difference, defined as trade sector productivity over non-trade sector productivity, causes real exchange rate to appreciate within 1% significance level no matter what of estimating model. Then we implemented the robustness analysis of the result by national income and exchange regime. The result shows that in most cases, the positive relative productivity differential has to do with the positive change of real exchange which means that the productivity bias hypothesis is supported.

Most existing empirical studies have been conducted based on the ad-hoc model to investigate the relationship between exports and R&D in the Korean electronics industry, whereas this study does estimation based on the theory-based structural model. By using the panel data which cover 26 OECD countries during the period from 2008 to 2015, this study investigates the impact of R&D on exports in Korean and Japanese electronics industries. I divide the electronics sector into two sub-sectors, which are ISIC Code Rev.4 26 and 27, and do the estimation of two sectors separately. Estimation results show that first, R&D investment has a positive relationship with exports only in the industry 26 of Korea, and second, Japanese relative production in both sectors is negatively related to its exports.

This paper analyzes the economic effects of 5 strategic industries and 18 promising sub-industry sectors selected on the income in Busan using the recent 2007-2016 statistical industry data. This paper adopted several 2-way error component panel estimation methods such as the fixed effect and radom effect models, random effect GLS models, random effect MLE models, Panel PA models, Panel GEE models, Panel FGLS models. As the results of empirical tests of 18 promising sub-industry sectors, such as the green ship industry, environment frendly industry, ICT, finance and banking industry, and logistic industry seem to influence positively on the regional income in Busan. As the results of empirical tests of 5 strategic industries, such as the creative culture industry and the bio-health industry appear to positively influence the regional income in Busan. The export and foreign exchange rate also appear to positively influence the regional income in Busan like the creative culture industry and the bio-health industry. However, since these 5 strategic industries and 18 promising sub-industry sectors are linked together, we should consider the industry effects in selecting the new strategic industries in year 2018.

This paper examines the necessity of using blockchain and review the issues be solved for its utilization in international trade transactions. For these purpose, we examined the main contents of the blockchain and the smart contract and analyzed the cases of smart contract in international trade. In conclusion, in order to using the blockchain in international trade transaction, it should be created the business ecosystem and ensured the standardization and the compatibility of the blockchain technology. And it is necessary to improve the international trade transaction related laws and regulations to utilize the blockchain in international trade.

The arbitration clause needs to consider whether it is reasonably to contribute quickly and inexpensively dispute resolution, or if such a condition interferes with the commencement of arbitration and takes time and money. In the UK, this is discussed in the establishment and validity of the prior recourse to mediation clause and prior recourse to negotiate in good faith clause. This point is related to the establishment and validation of the arbitration clause, so the review field is centered on the contract law and the arbitration law. In this study, after examining the preconditions in the UK contract law and the UK arbitration law, it discusses the arguments related to the significance of the dispute, and examines whether the claims and reject before the commencement of the arbitration proceedings are the requirements for the commencement of arbitration.

The main purpose of this research is to understand and identify the variables, which significantly affect the firm's export performance. To do this, I utilized the resource-based view(RBW) and network theory as theoretical backgrounds. I proposed eleven hypotheses to verify what kinds of resources and capabilities of the firm can significantly affect the export performance mostly based on the previous studies. The results are as follows: The results show as follows: First, most of factors in small firms except some factors affects the firm's export performance significantly(reject hypothesis 4and 7). Second, the fresults shows that the general competitive advantages based view factors that is, the strategies, capabilties, resurces regarding export activities, product differentiation, cost variables except technological capabilities, but FTA consulting variables in some categories can not significantly affect the firm's export performance. Third, the variables of the strength of alliance relationship are most important facots in export performance, but some variables does not affect significantly in performance of export.

It is about analytical research about medicine logistics center decision factor and logistics performance. Pharmaceutical companies are having tough times amid intense competition and complex distribution chains. As a solution of these problems, this research recognizes importance of logistics center, analyzes elements for logistics center designation, and tries to confirm relations between these elements and results via empirical analysis. The results of this research, correlation among medicine logistics center location elements, profitability, and efficiency is summarized as follows. when deciding medicine logistics center location with financial results in mind, market size, growth, and demand creation must be the primary considerations. Real estate, investment, and other subsidies are also to be considered. Considering medicine characteristics, logistics center must be located around where there is a demand and government policy must be enhanced with pharmaceutical industry characteristics in mind. also with non-financial results in consideration, infrastructure, labor force, and related industry merging must be considered.

The technology gab in the manufacturing sector between China and Korea has narrowed from 4.7 years in 2002 to 3.7 years in 2011 and to 3.3 in 2015, especially that in IT industry to 2.6 years in 2015. The material and component industry in China entered into the step of an export industry and now pushing the import substitution. Therefore it is necessary for Korea to establish the medium and long term export strategy as the response strategy to China. From the investigation, TSI(Trade Specialization Index) and RTI(Regional Trade Intensity) are calculated as the ground work for a reset of export strategy. As a result, this paper analyses and estimates the change of China’s trade pattern based on the industrial development phases and furthermore, understand the medium and long term change progress of trade pattern untill 2025 by using the simulation technique of System Dynamics.

Resource orchestration(RO) theory shows that a company can improve its performance by obtaining resources that may expect performance exceeding the opportunity cost through a series of operations, or by allocating resources efficiently. The firm's SG & A expenses are financial indicators that are related to the RO activities such as advertising expenses, R & D expenditure, and investment in human resources. By using panel data, our study examines the effect of SG & A expenses on financial performance for Korean logistics companies that have to cope with the volatile external environment such as the fourth industrial revolution. Panel analysis shows that the SG & A expenditure which is proxied by RO has a statistically significant relationship with the financial performance excluding the ROE, but the effect is negative. Because RO activities are recognized as costs that should be deducted from the financial performance. In the future research, it is necessary that research model that is taken account of time lag investigate to analyze the effect of the RO activities on firm’s performance.