Earticle

The discrete daily and intraday jump probabilities of China yuan/US dollar returns from June 1, 2012 to April 30, 2021 is analyzed using five-minute returns considering periodicity filters of volatility. When we use Z-daily jump using either tripower quarticity and quadpower quarticity, the daily jump probability seems to be 66% and 70%, respectively, at α = 0.999. Thus, if the periodicity filters of volatility are not considered, the jump probabilities may be overestimated. When we use the intraday observations or periods, with the periodicity filters of volatility such as such as MAD and short half scale, the daily jump probability seems to be 39% and 40% at α = 0.999, respectively. When we consider the periodicity filters of volatility, the five-minute returns of China yuan/US dollar exchange rates have considerably lower daily jump probabilities than we use using max outlying daily jump statistics without MAD periodicity filters of volatility.

The purpose of this paper is to analyze the effects of the determinants of mobile number portability in telecommunication industry. Applying the basic theoretical framework of a general equilibrium migration model in local public finance, we employed simple time series analysis based on the Seemingly Unrelated Regression(SUR) model. According to the empirical analysis of the SUR model, we could find some meaningful relationship among the dependents and explanatory variables. The number of mobile users(the size effect), the subsidy payment per mobile users(inducement cost effect per new entrant), the subsidy payment difference(competition effect) and moving cost(cost effect) variables have been proved to influence meaningfully in the determinant of mobile number portability. The estimates from impulse response and variance decomposition analysis reveal that subsidy difference has been proved to be the most important factor contributing to the variance of the mobile number portability.

This paper aims to analyze the export structure of Gwangju Metropolitan City emplying the CMS model, which is very popular method of measuring the export performance of a particular region. Exports occupy special attention in the economic literature and practice due to their critical contribution to the economic stability, long-term development and growth of any economy. Export performance is pivotal to have positive economic effects on any particular economy like Gwangju city. A region’s export performance is influenced by variety of domestic as well as international factors such as growth of world demand, changes in the commodity composition of exports, changes in market distribution of exports and changes in competitiveness of exports. This paper reveals that Chinese import demand promotes the Gwangju’s exports to China for HS85, but discourages its exports to China for HS84, HS39 and HS90. The commodity composition effect affects Gwangju’s exports to China positively for HS85, but does not do for HS84, HS39 and HS90. Chinese import demand promotes the Gwangju’s exports to China for HS85, but discourages its exports to China for HS84, HS39 and HS90. For China the commodity composition effect affects Gwangju’s exports to China positively for HS85, but does not do for HS84, HS39 and HS90. This study also shows that the effect of the U.S. import demand for HS87 and HS40 is positive, but its effect is negative for HS84 and HS85. For the U.S. the commodity composition effect has a negative effect for HS87 and HS40, but has a positive effect for HS84 and HS85.

This paper empirically analyzed the relationship between trade openness and Gini coefficient using data from 2011 to 2018 for 32 OECD countries and 19 non-OECD countries. This study used fixed effect model and panel simultaneous equation model for economic growth and income inequality by using panel data. The analyses results are summarized as follows. At first, according to the result of analysis for OECD countries, the economic growth rate had a negative effect on Gini coefficient, but the unemployment rate had a significant positive effect. Second, based on the non-OECD countries data analysis, the formation of fixed capital consistently had a significant negative effect on Gini coefficient. Third, it was found that trade openness had a significant positive effect on Gini coefficient. These results suggest that trade openness works as a factor that worsens income inequality. However, since this study performed regression analyses and not causal analyses, it should be avoided to definitely interpret trade openness as the cause of income inequality.

We examined the motives for inward FDI(Foreign Direct Investment) in ASEAN using static and dynamic analyses. For static analyses, fixed-effect panel analysis and random-effect panel analysis were used through the Hausman test, and for dynamic analyses, System GMM, which uses the lag variable of the differential variable of the FDI as the instruments, was used. In ASEAN 8 developing countries except for Brunei and Singapore which are high-income countries, all of the market-seeking, resource-seeking, efficiency-seeking, and strategic asset-seeking motives have a positive relationship with inward FDI significantly. In dynamic model, two variables which are first lag variable of FDI and market size have a positive relationship with inward FDI significantly. However, resource-seeking and efficiency-seeking variables show a negatively significant relationship with inward FDI. The positive coefficient of two variables in the static analysis were changed to the negative coefficient in the dynamic analysis. Considering time in dynamic models, resource-seeking and efficiency-seeking variables showed different results over time. Unlike previous studies, our study not only used ICT export ratio as a proxy variable for the strategic self-seeking motive, but also conducted both the static analyses and the dynamic analyses on motives of inward FDI in ASEAN.

In the era of technological transformation, the key to attract customers is to use the proper digital marketing tools. This research aims to explore how Korean beauty products attract Thai consumers by using the digital marketing approach. In line with this objective, this study examine effects of attitudes toward push strategies and pull strategies on purchase intention. Our analysis of 357 Thai consumers suggests that attitudes toward push strategies including website and landing page and search engine optimization increase Thai consumers’ purchasing intention of Korean beauty products. In addition, attitudes toward pull strategies including macro and micro influencers affect on Thai consumers’ purchasing intention of Korean beauty products positively. The findings of this study might be used as a reference for the Korean beauty industry to develop digital marketing tactics that are in accordance with current customer buying patterns in Thailand.

Non market economy is the system in which the government determines price and resource allocation. Although NME had not been a major concern under the GATT system, it became a major issues for the WTO regime, especially after China’s entry into the multilateral trading system. The US accused China of not only unfulfilling its commitment of transit to market principle system but also moving toward more mercantilist regime. In attempts to combat such unfair trade practices, the US wants to reform current WTO system. By focusing on the issues related with the US complaints against China through the dispute settlement process, this paper tries to identify areas in the current WTO clauses that were unable to regulate NME issues. While GATS, AG, TRIPS, SCM, and AD are candidates, in a system of consensus based decision, it would be difficult to amend contents of major agreements. However, revising dispute settlement processes or strengthening trade policy mechanism might be achievable alternatives. Abandoning WTO, establishing a new system or, as under Trump regime, unilateral action could also be sought. However, as the conflicts between two major trading nations could lead to dangerous consequences, it may be desirable to devise a new paradigm to achieve compromise and prosperity together in the face of the NME challenges.

Advances in aviation have led to the establishment of international rules of air transport. In present, the Montreal Convention is the new International Aviation Rule. Montreal convention stipulates the responsibilities between passengers/shippers and carriers. Therefore, the purpose of the introduction and the revision process of this international convention related to aviation is confirmed. Two points are analyzed in this paper. First, comparison and analysis of liability for cargo damage in Montreal Convention and air transport regulations in our country’s commercial law. Second, analyze of liability cases for damage. Through, it examines how the international air transport rules interpret and apply liability for cargo damage.

중국 내 로봇 생산량 및 사용량은 2016년에 세계 최고 수준에 이르렀지만, 정확도(accuracy)와 반복정밀도(repeatability) 등 성능측면 뿐 아니라, 양적인 측면인 산업용 로봇밀도(robot density)에서도 1만명당 64대로서 로봇산업 강국 과 상당한 격차를 보여주고 있다. 특히 FANUC, Yaskawa, ABB 등 외국계기업 의 합작기업(Joint Venture)이 산업용 로봇시장을 지배하고 있다. 이러한 상황 에서도 산업정책측면에서는 중국 지방정부를 중심으로 난통전캉(Nantong Zhenkang Welding Electromachinery, 南通振康), Tsino-Dynatron(清能德创)과 Inovance(深圳汇川技术) 등 핵심기술분야 제조업체에 장려금 지원 및 포괄적 산업가치사슬 구축 등 다양한 노력을 경주하였다. 시장과 수요의 측면에서는 난통전캉(Nantong Zhenkang Welding Electromachinery, 南通振康)은 국가표준 제정에 참여하고, Siasun은 용접용 로봇과 AGV 로봇에 경쟁력을 가지고 7 자유도의 협동로봇을 만들고 있으며, Leaderdrive(绿的谐波)는 하모닉드라이브 분야에서 일본기업의 파라메터에 근접하는 경쟁력을 보이고 있고, Tsino-Dynatron (清能德创)은 일본 및 미국계기업의 틈새시장을 공략하였으며, Inovance(深圳 汇川技术)는 매니지먼트 팀의 기술역량과 팀워크를 통해 시장점유율을 높이고 있다.

Although the production and usage of robots in China reached the world’s highest level in 2016, China shows significant gaps from robot industrial powers not only in terms of performance such as accuracy and repeatability but also in terms of industrial robot density, which is a quantitative aspect, with 64 robots per 10,000 workers. In particular, joint ventures of foreign companies such as FANUC, Yaskawa, and ABB dominate the industrial robot market. Even in the situation as such, in terms of industrial policies, diverse efforts have been devoted mainly by the Chinese local governments such as providing subsidies to manufacturing companies in the field of core technologies including Nantong Zhenkang Welding Electromachinery (南通振康), Tsino-Dynatron (清能德创), and Inovance (深圳汇川技术), and constructing a comprehensive industrial value chain. In terms of market and demand, Nantong Zhenkang Welding Electromachinery participates in the establishment of national standards, Siasun is making cooperative robots with 7 degrees of freedom with competitiveness in welding robots and AGV robots, and Leaderdrive(绿的谐波) is showing competitiveness close to the parameters of Japanese companies in the field of harmonic drives, Tsino-Dynatron has targeted the niche markets of Japanese and American companies, and Inovance is increasing its market share through its management team’s technical capabilities and teamwork.

As the world trade environment and business environment change, the importance of trade facilitation is being emphasized. In this regard, Korea has also been striving to facilitate trade through the establishment of e-trade services. However, the e-trade service for trade facilitation still does not fully perform its functions due to overlapping roles, inadequacy of laws and systems, and lack of international standards. Therefore, the improvement plan of e-trade service for trade facilitation is considered as follows. First, it is necessary to establish a prompt and efficient operating system by unifying the entities that promote trade facilitation. Second, an international single-window system must be established through the advancement of UNI-PASS. Third, it is necessary to establish an integrated support service by reconfiguring the role of uTradeHub. Through this, it is necessary to enhance the service utilization of trading companies for trade facilitation.

The purpose of this study is to analyze the ultimate cause of the U.S.-China trade war, which started in earnest under the Trump administration and is ongoing under the Biden administration, and suggests countermeasures for how Korea will maintain its status as a trading power in the era of the 4th industrial revolution. To this end, after examining the background and causes of the US-China trade dispute in Chapter 2, Chapter 3 will analyze the essential characteristics of the US-China trade war. In particular, I would like to compare the development process of the war for hegemony hidden in the trade war between China, which aims to become a dignified G2 country by the realization of the Chinese dream, and the United States, which does not want to allow a position of absolute power, in comparison with the US-Japan trade war. And in Chapter 4, I want to analyze in detail how the US-China trade war, which is in a lull due to the signing of the first phase of the US-China trade agreement, the spread of Covid-19, and the Beijing Olympics, will develop in the future. In particular, this chapter predicts the direction of acceleration of the Chinese standard 2035, which the Chinese government is putting great effort into to preoccupy international standards, and proposes a response strategy for the Korean economy, caught in the midst of the US-China trade war, to overcome this difficult situation.