Earticle

Empirically we test the Merton-type model (1974) of credit risk in an emerging market such as the Korean corporate bond market. For that purpose, we assume two alternative firm value processes: Diffusion process for the Merton (1974) model and jump-diffusion process for our extended model in a general equilibrium setting. Our empirical results show that the diffusion model generally underpredicts spreads – which is referred to as “the credit spread under prediction puzzle” in the literature, while our jump-diffusion model somewhat raises the predicted spreads. We assert that jump raises the spreads on two grounds. Firstly, an extremely large (negative) change tends to increase the probability for a firm to default particularly over a short-time horizon. Secondly, jump requires the systematic risk premium for a positively correlated firm particularly when the market turns extremely volatile.

한반도 분단 이후에 진행되고 있는 이질화를 치유할 수 있는 방안은 조지프 나이의 ‘소프트 파워’에 대한 언급처럼 문화의 공유이다. 다행히 소프트 파워를 가지고 있는 한류가 북한 주민들 간에서도 확산되고 있다는 소식이 언론보도를 통해서 전해지고 있다. 따라서 본 연구는 다양한 분야에서의 새로운 아이디어가 확산되는 과정을 분석하는 대이론으 로서의 개혁확산이론을 수정 보완하여 한류 문화콘텐츠가 북한 사회 내에서 확산되는 과정을 분석해 볼 수 있는 문화확산모형을 수립하고, 이 모형에 따라 북한에서 한류가 어떻게 확산되고 있는지를 파악하고자 했다 문화확산이론은 개혁확산이론과 마찬가지로 사회체제 변인, 문화콘텐츠의 본질적 속성변인, 수용자 변인, 커뮤니케이션 변인, 전파 시간 변인 등의 변인으로 구성되었으며, 이들 5가지 요소 가 적절하게 작용할 때, 한 사회 내에서의 문화 콘텐츠 확산이 가속화될 것으로 가정하였다. 따라서 본 연구는 북한 주민들이 한류문화를 수용하는데 이들 5가지 변인들이 어떻게 작용하고 있는지를 파악하기 위해 탈북한 지 2년 미만의 새터민 10명에 대해 심층면접조사를 실시하였다. 조사 결과, 북한에서의 한류 문화콘텐츠 확산은 전형적인 문화확산모형에 따라 이루어지고 있음이 밝혀졌다. 또한 북한에서의 한류 문화콘텐츠 확산은 대중화 단계에 접어들었으며, 문화 콘텐츠의 소프트 파워로서의 영향력 역시 발휘되고 있는 것으로 나타났다.

The research started from the propose to constructive combination the Korean wave culture contents acceptance model and the innovation diffusion theory that can explain behavioral adoption of Korean wave culture contents by the North–Korea adopters. I have established the culture diffusion theory through have modified the innovation diffusion theory for analysis the adoption process and the diffusion possibility by North Korea adopters’ the Korean wave culture contents. And this paper have regarded whether the Korean wave have diffused according to the culture diffusion theory and what effects South Korean culture content make to North Korean who have accepted South Korean culture contents. This paper discovered that the more culture contents diffuse, the more culture function fulfill and that the entertainingness and the commercial viability of culture contents have determined the diffusion speed and range of culture contents. South Korean cultures have proper the entertainingness and the commercial viability necessary to culture diffusion and North Korean have rated high the these of South Korean culture contents. The level of culture diffusion is depended on the society opened system level, audiences traits, the innovation level of culture content as an intrinsic attribute, the communication opened system level and the diffusion time. This paper discovered that South Korean culture contents have diffused according to the typical culture diffusion model in North Korea. And this paper discovered that as North Korean have imitate South Korean styles, they identify themselves with South Korean life styles and they like more the systems of Korean.

이 논문은 하이에크 이론이 한국에서 확산되어 가는 양상 및 그러한 확산을 가능케 한 요인들을 탐구 하였다. 첫째, 초기의 하이에크 연구는 주로 케인즈주의자 경제학자들의 지적 호기심에서 시작되었으며 1990년대 중반~2001년에 가장 활발히 하이에크 저서가 확산되었다. 그 후 현재에는 조정 및 성숙기 에 이르러 있지만 하이에크에 집중한 단행본의 발행은 오히려 위축되고 있다. 둘째, 국내학자들 논문 131편을 분석한 결과 하이에크의 책 중 Individualism and Economic Order 를 가장 많이 인용한다. 그러나 3부작이지만 하나의 전집으로 보아도 무방한 Law, Legislation and Liberty-Ⅰ,Ⅱ,Ⅲ를 하나로 본다면 이것이 오히려 더 중시되는 하이에크의 문헌이다. Studies in Philosophy, Politics, Economics, Road to Serfdom, The Constitution of Liberty, Fatal Conceit이 그 다음 순서이다. 셋째, 국내 학자의 저서로는 민경국의『하이에크 자유의 길』,『진화냐 창조냐』,『헌법경제론』 등 의 순서로 많이 인용된다. 민경국 교수는 국내 학자들의 저서의 가장 중요한 인용자이면서 동시에 가장 중요한 피인용자이다. 넷째, 하이에크의 이론 체계를 인식론 및 방법론, 시장과정, 분권화된 지식, 사회주의 비판, 정치 및 법 질서, 경제이론, 한국의 현실정책 대안, 기타로 8대분 하면, 국내 연구들은‘시장질서’-‘정치질 서·법질서’연구에 치중한다. 경제이론 분야는 큰 관심을 받지 못했으며, 현실 정책에 대한 처방을 제 시하는 기능은 취약하다. 다섯째, 한국 하이에크 소사이어티 형성은 하이에크가 개인의 관심을 넘어 학문 공동체(science community)의 연구 테제가 되었음을 의미하는데 이 창설에 기여한 소수의 학문적 창업가(academic entrepreneur), 특히 민경국 교수의 역할이 결정적이었다.

Whether the saying, “We’re all Hayekians now” is true or not, Friedrich von Hayek’s idea is one of the most influencing factors to economy, law and political order of Korea. This paper studies how the Hayek’s ideas were introduced and flourished in Korea: the diffusion process of Hayek’s idea. For this main research purpose all the articles(131) and books(25) on Hayek published by Aug. 2014 were collected and then analyzed. Then, following questions were studied: Which book written by Hayek is most cited by Korea scholars? Which book written by Korea scholars are most cited by other Korea scholars? On which part(field) of the Hayek’s general theory system do the Korea scholars write articles? The most cited Hayek’s book by Korea scholars is Individualism and Economic Order. But Law, Legislation and Liberty(Ⅰ,Ⅱ,Ⅲ) becomes number 1 when they are considered as one book, followed by the Studies in Philosophy, Politics, Economics, Road to Serfdom, The Constitution of Liberty, Fatal Conceit. These turned out to be the most cited books by Korea scholars. When it comes to books written by Korea scholars, Hayek the Road of Liberty, Evolution or Creation?, Constitutional Economics are top 3, all of which were written by Min KyungKuk. Then, Hayek’s theory system was classified into eight categories to find out on what field do Korea scholars put emphasis when they write papers on Hayek. The field of “Market Process,” and then, “Law and Political Order” are the most preferred field. Instead, the field of “Economic Theory” get amazingly less interest. The Korea Hayek Academy plays the role of science community on Hayek. Judging on his contribution to that community as well as present academic performance, prof. Min KyungKuk played a key role in diffusing Hayek’s ideas to Korea. He can be compared as the Korean Hayek, or ‘Friedrich Min HaykyungKuk’. Some suggestions were given to raise quality and quantity of researches on Hayek. “Go Back To Hayek!” is the point.

본 연구는 P. Berman의 적응적 집행이론 모형이 행정정보화정책 분야에도 적용될 수 있는지를 시차적 접근시각을 통하여 분석하였다. 분석한 결과, 온-나라 시스템의 중앙부처 확산과정에서는 일괄적용에 따른 불만족과 시스템의 개선요구가 많은 것으로 나타났다. 이후, 지방자치단체도 중앙부처 확산과정과 유사하게 나타났지만 서울시는 행정안전부와 협의하여 온-나라 시스템 개작권을 확보함으로써 상호적응적 집행이 일어났다. Berman의 모형에 의하면 중앙부처와 일부 광역자치단체는 흡수(cooptation)와 기술적 학습(technological learning)이 전달자 집행(deliverer implementation) 국면에서 나타난 반면, 서울시는 상호적응(mutual adaptation)적 정책집행이 이루어졌다. 이를 토대로 몇 가지 정책적 제언을 하면 첫째, 정책집행과정에서 중앙부처의 상향식 접근(bottom-up approach)에 대한 인식 변화와 배려가 필요하다. 둘째, 온-나라 시스템 확산을 위해서는 행정적 지원뿐만 아니라 재정적 지원이 필요하다. 셋째, 일선 행정기관에서는 조직적 적응과 프로그램 자체의 적응이 일어날 수 있도록 시간적인 여유가 필요하다. 넷째, 온-나라 시스템과 성과평가의 긍정적 시너지 효과를 나타내기 위해서는 모니터링 체제 구축 및 전략기획부서 또는 성과관리부서와의 연동이 필요하다.

This study analyzes an approach time-lag information policy a based on P. Berman’s model. As a result of the analysis, a central governments complaints and improve the system were expressed in the diffusion process. Even after local governments had similar tendency as the central government. But Seoul Metropolitan Governments are obtained the On-Nara system adaptation rights in consultation with the Ministry of Public Administration and Security. Through this mutual adaptation can be seen happening. The main findings of this study are as follows. First, central governments need change perception of a process of policy implementation. Second, On-Nara system is needed an administrative and financial supports in the diffusion process. Third, in front-line administration and organizational adaptation and the system itself can lead to an adaptation of the so allow adequate time is needed. Fourth, On-Nara system’s performance management is required the monitoring systems and strategic planning department.

대장암은 전 세계적으로 인간 건강에 심각한 위협을 가하는 주요 질병 중 하나이며, 이에 대한 조기 진단과 치료는 생존율을 크게 향상할 수 있다. 최근 인공지능(AI) 기술의 발전으로 대장암 진단 및 치 료 접근 방식에 혁신적인 변화가 이루어지고 있으나, 인공지능 모델의 학습을 위해서는 대량의 고품질 의료 데이터가 필수적이다. 그러나 의료 데이터의 획득은 프라이버시, 저작권, 그리고 데이터 공유에 대한 엄격한 정책으로 인해 상당한 도전 과제를 안고 있다. 본 연구는 Semantic Map을 조건으로 하 는 SDM(Semantic Diffusion Model)을 활용하여 실제와 유사한 고품질의 대장 내시경 이미지를 생성 하는 데 성공하였다. 이 과정을 심층적으로 분석하여, 의료 데이터의 접근성 문제에 대한 혁신적인 해 결책을 제시하고자 한다.

본 연구는 언론보도와 탈북자들에 대한 심층 면접조사 문헌들을 통해 ‘북한에서 한류가 문화확산모형의 전 형에 따라 확산되고 있는지’, 그리고 ‘한류가 북한 주민들에게 어떤 영향을 주는지’ 분석하고자 했다. 그리고 문화확산모형에 비춰볼 때 북한에서 한류 확산을 가속화시킬 수 있는 방안은 무엇인가를 파악하고자 하였다. 먼저 북한에서의 한류가 야기할 잠재적 효과에 대한 언급을 위해 본 연구는 문화콘텐츠의 내재적 속성과 문화 콘텐츠의 소프트 파워에 대해 살펴보았다. 문화콘텐츠의 내재적 속성으로 인해 문화콘텐츠는 자기정화기능, 레크리에이션기능, 자기개발기능, 자기실현기능, 사회통합기능, 인류통합기능 등 문화적 기능 등을 수행한 다. 그리고 문화콘텐츠의 문화적 기능은 한 국가의 소프트 파워를 증가시키는 요인이 된다. 그런데 문화콘텐 츠 확산 정도가 문화콘텐츠의 문화적 기능을 결정하는데 문화콘텐츠 확산을 결정하는 요소는 문화콘텐츠의 오락성과 상업성이라는 점을 밝혀냈다. 문화콘텐츠의 소프트 파워는 조지프 나이의 언급처럼 어떤 나라의 가 치와 신념 체계를 존중하고 따르게 하는 위력을 지니고 있다. 한류 문화콘텐츠는 문화확산에 필요한 오락성과 상업성을 갖추고 있으며, 이들 요소들이 북한 주민들로부터 높게 평가받고 있는 것으로 나타났다. 문화확산은 사회체제의 속성, 수용자 속성, 문화콘텐츠의 본질적 속성으로서의 혁신성, 커뮤니케이션 특성, 그리고 전파 시간 등에 따라 결정되는데, 북한 내에서 한류는 전형적으로 문화확산모형에 따라 확산되고 있음이 밝혀졌다. 또한 북한 내에서 한류확산은 북한 주민들 간에 ‘따라 하기’를 통한 모방과 유행이 야기되면서 대한민국 문화 양식 동일시 현상이 나타나고 있으며, 대한민국 체제에 대한 긍정적 태도도 증가되고 있는 것으로 나타났다.

This paper have regarded whether the Korean wave have diffused according to the culture diffusion theory and what effects South Korean culture content make to North Korean who have accepted South Korean culture contents. This paper have reviewed about the immanent traits of culture content and about the soft powers that culture contents make. This paper discovered that the catharsis function, the recreation function, the self realization function, the social integration function and the humanity integration function of culture content as immanent traits have fulfilled those culture function. This paper discovered that the more culture contents diffuse, the more culture function fulfill and that the entertainingness and the commercial viability of culture contents have determined the diffusion speed and range of culture contents. Soft power make the other nation people regard the values and belief of a nation and blindly follow these. South Korean cultures have proper the entertainingness and the commercial viability necessary to culture diffusion and North Korean have rated high the these of South Korean culture contents. The level of culture diffusion is depended on the society opened system level, audiences traits, the innovation level of culture content as an intrinsic attribute, the communication opened system level and the diffusion time. This paper discovered that South Korean culture contents have diffused according to the typical culture diffusion model in North Korea. And this paper discovered that as North Korean have imitate South Korean styles, they identify themselves with South Korean life styles and they like more the systems of Korean.

현실세계에서 증권시장의 상품들은 대체로 정규분포를 따르지 않으며, 실제로는 첨도가 높고 왜도의 꼬리부분이 두꺼운 fat-tail 분포를 따르는 것으로 알려져 있다. 따라서 본 연구의 목적은 확률변수가 안정적이고 독립적인 분포를 따르면서 실제분포의 속성을 잘 나타내는 분포를 이용한 옵션가격결정을 분석하는 데 있다. 이때 실증분석 데이터는 2019년 11월 15일부터 2020년 11월 20일까지 252개의 일별 KOSPI200 종가지수를 이용하였으며, 11월 20일 종가인 340.62를 등가격(ATM)으로 하여 335.62와 345.62 각각을 콜옵션(풋옵션)의 OTM(ITM)과 ITM(OTM)으로 설정한 후 분석하였다. 본 논문의 연구방법은 Furier 변환이 가능한 조절안정분포(Tempered Stable Distribution)를 가정한 CTS(또는 CGMY) 모형에 의한 옵션가격결정을 수행하였으며, 이와 더불어 정규분포 및 Fourier 변환을 가정한 Black-Scholes 모형, 그리고 Fourier 변환을 갖는 Merton Diffusion Process와 Variance-Gamma 프로세스에 의한 옵션가격결정모형을 비교·분석하였다. 본 논문의 연구결과는 다음과 같다. 만기 T=1 및 T=0.25 각각의 콜옵션 및 풋옵션 산출결과, (i) BS모형의 경우 기하 브라우니언 모션과 Fourier 역변환에 의한 콜옵션 및 풋옵션 모두 동일한 옵션가격을 산출하였으며, 이는 와 에 기인된 결과이다. (ii) Merton의 Jump-Diffusion Process는 Poisson 분포에 따른 jump 벡터(N=100)의 실증분석에 의해서 산출되었으며, 이때 jump가 0인 경우(와 의 값이 0인 경우)에는 BS모형과 동일한 옵션가격을 산출하나 여기서는 jump가 0이 아닌 경우를 고려하므로, BS모형의 옵션가격보다 약간 더 큰 것으로 나타났다. (iii) Fourier 변환을 이용한 Varinace-Gamma process의 옵션가격은 브라우니언 종속치(subordination)의 표현과 경로분석을 통해 산출되며, Fourier 역변환(FIC) 및 MCS 옵션성과가 BS 모형과 동일한 결과값을 산출하였다. 한편 (iv) CGMY방법에 의한 옵션성과에 대한 산출결과는 소수점 이하에서 미세차이는 있으나 무시할 수 있는 정도여서 CGMY와 BS 모형의 옵션가격이 점근적으로 동일한 것으로 나타났다. 따라서 기존 BS모형보다 Fourier 변환이나 tempered stable Lévy process 모형인 CTS(또는 CGMY)모형에 의한 옵션가격의 분석결과가 실제분포인 fat-tail 속성을 더 잘 설명하는 것으로 나타났다. 본 연구의 시사점은 확률변수가 Furier 변환이 가능한 안정분포인 Tempered Stable Lévy Process를 나타내는 6모수군의 CGMY 모형, Black-Scholes 모형, 그리고 Merton 및 Variance-Gamma 프로세스에 의한 옵션가격을 상호 비교함으로써 정규분포를 가정한 전통적인 Black-Scholes 모형의 분석한계를 극복한 데 있다.

In the real world, products in the stock market do not generally follow a normal distribution, but are known to follow a fat-tail distribution with high kurtosis and thick tails of skewness. Therefore, the purpose of this study is to analyze option pricing using a distribution in which random variables follow a stable and independent distribution and well represent the properties of the actual distribution. At this time, for the empirical analysis data, 252 daily KOSPI200 closing price indexes were used from November 15, 2019 to November 20, 2020. Call Options(Put options) were set as OTM(ITM) and ITM (OTM) and analyzed. In the research methodology of this paper, option pricing was performed by the CTS (or CGMY) model assuming a Tempered Stable Distribution that is capable of Furier transformation. In addition, the Black-Scholes model assuming a normal distribution and Fourier transformation, and the Fourier transformation were performed. The option pricing model using the Merton Diffusion Process and Variance-Gamma process was compared and analyzed. The research findings of this paper are as follows. Calculation results of call options and put options at expiration T=1 and T=0.25, respectively, (i) In the case of the BS model, the same option price was calculated for both call and put options by geometric Brownian motion and Fourier inverse transformation. which is the and . (ii) Merton's Jump-Diffusion Process was calculated by empirical analysis of jump vectors (N=100) according to Poisson distribution. The price is calculated, but since the case where the jump is not 0 is considered, it is slightly larger than the option price of the BS model. (iii) Option price of Varinace-Gamma process using Fourier transformation is calculated through expression of Brownian subordination and path analysis, and Fourier inverse transformation (FIC) and MCS option performance yield the same result as BS model did. On the other hand, (iv) the calculation results for option performance by the CGMY method showed that the option prices of the CGMY and BS models were asymptotically the same as there was a slight difference at the decimal point, but it was negligible. Therefore, the analysis result of the option price by the Fourier transform or the CTS (or CGMY) model, which is a tempered stable Levy process model, was found to better explain the fat-tail property of the actual distribution than the existing BS model. The implication of this study is that the random variable is normally distributed by comparing the CGMY model of the six-parameter group, the Black-Scholes model, and the option prices by the Merton and Variance-Gamma processes, which represent the Tempered Stable Levy Process, which is a stable distribution that can be Furier transform. It is in overcoming the analytical limitations of the traditional Black-Scholes model that assumes .

In reality, we can observe anomalous diffusion patterns of cycle-recycle or rejuvenation. Abrupt changes in the market environment such as sudden currency devaluation or change in government policy or those in marketing strategies such as drastic repositioning can lead to such atypical diffusion patterns. The authors present extended Bass models that incorporate effects of such abrupt changes of external factors into the hazard rate and the market potential. Using a set of compact-car data affected by a drastic change in the government policy, they illustrate the strengths of the proposed models.

We consider counterparty risk in CDS rates. To do so, we use a multivariate jump diffusion process for obligors' default intensity, where jumps (i.e. magnitude of contribution of primary events to default intensities) occur simultaneously and their sizes are dependent. For these simultaneous jumps and their sizes, a homogeneous Poisson process. We apply copula-dependent default intensities of multivariate Cox process to derive the joint Laplace transform that provides us with joint survival/default probability and other relevant joint probabilities. For that purpose, the piecewise deterministic Markov process (PDMP) theory developed in [7] and the martingale methodology in [6] are used. We compute survival/default probability using three copulas, which are Farlie-Gumbel-Morgenstern (FGM), Gaussian and Student-t copulas, with exponential marginal distributions. We then apply the results to calculate CDS rates assuming deterministic rate of interest and recovery rate. We also conduct sensitivity analysis for the CDS rates by changing the relevant parameters and provide their figures.

The outward diffusion of $Na^+$ ions in iron-bearing soda lime silicate glass via oxidation heat treatment before the ion exchange process is artificially induced in order to increase the amount of ions exchanged during the ion exchange process. The effect of the addition process is analyzed through measuring the bending strength, the weight change, and the inter-diffusion coefficient after the ion exchange process. The glass strength is increased when the outward diffusion of $Na^+$ ions via oxidation heat treatment before the ion exchange process is added. For the glass subjected to the additional process, the weight change and diffusion depth increase compared with the glass not subjected to the process. The interdiffusion coefficient is also slightly increased as a result of the additional process.

An analytical model is proposed for an optically controlled Metal Semiconductor Field Effect Transistor (MESFET), known as Optical Field Effect Transistor (OPFET) considering the diffusion fabrication process. The electrical parameters such as threshold voltage, drain-source current, gate capacitances and switching response have been determined for the dark and various illuminated conditions. The Photovoltaic effect due to photogenerated carriers under illumination is shown to modulate the channel cross-section, which in turn significantly changes the threshold voltage, drainsource current, the gate capacitances and the device switching speed. The threshold voltage $V_T$ is reduced under optical illumination condition, which leads the device to change the device property from enhancement mode to depletion mode depending on photon impurity flux density. The resulting I-V characteristics show that the drain-source current IDS for different gate-source voltage $V_{gs}$ is significantly increased with optical illumination for photon flux densities of ${\Phi}=10^{15}\;and\;10^{17}/cm^2s$ compared to the dark condition. Further more, the drain-source current as a function of drain-source voltage $V_{DS}$ is evaluated to find the I-V characteristics for various pinch-off voltages $V_P$ for optimization of impurity flux density $Q_{Diff}$ by diffusion process. The resulting I-V characteristics also show that the diffusion process introduces less process-induced damage compared to ion implantation, which suffers from current reduction due to a large number of defects introduced by the ion implantation process. Further the results show significant increase in gate-source capacitance $C_{gs}$ and gate-drain capacitance $C_{gd}$ for optical illuminations, where the photo-induced voltage has a significant role on gate capacitances. The switching time ${\tau}$ of the OPFET device is computed for dark and illumination conditions. The switching time ${\tau}$ is greatly reduced by optical illumination and is also a function of device active layer thickness and corresponding impurity flux density $Q_{Diff}$. Thus it is shown that the diffusion process shows great potential for improvement of optoelectronic devices in quantum efficiency and other performance areas.

Network externalities can significantly influence policy diffusion processes. However, previous policy diffusion studies have not considered the influence of network externalities that can occur during policy diffusion processes. Therefore, this study’s critical contribution is that it provides theoretical foundations and a research model to more systematically and reasonably assess and address the dynamicity of policy diffusion related to network externalities that existing studies have overlooked. This study first incorporates network externalities into a policy diffusion process and builds a policy diffusion model consisting of three stages of policy diffusion focused on policy adoption: an initial stage, a consideration stage, and an adoption stage. The second section addresses the fundamental characteristics of policy diffusion. The third section suggests research agendas for future studies. The agendas emphasize the significance of policy decision makers’ perception, information accessibility, soft organizing actions, dynamic diffusion modes, strategic network power, and transaction costs in the three stages of policy diffusion process. The authors hope that future studies will actively involve the systematic examination of network externalities’ influence on policy diffusion.

We propose a new instrumental variable estimator of the complex parameter of a class of univariate complex-valued diffusion processes defined by the possibly non-stationary and/or nonlinear stochastic differential equations. On the basis of the exact finite sample distribution of the pivotal quantity, we construct the exact confidence intervals and the exact tests for the parameter. Monte-Carlo simulation suggests that the new estimator seems to provide a viable alternative to the maximum likelihood estimator (MLE) for nonlinear and/or non-stationary processes.

Against the simple dichotomy of the “Western vs. local origins” perspective, this article aims to provide a more sophisticated framework of understanding to clarify the historical origin, nature, and changes of the economic and social provisions in the Korean constitutions (1948-1987). Based on a theoretical framework of contested diffusion processes of different “legal traditions,” this research argues that the general economic principle of the Korean constitution changed from Weimar-style “social justice” via a “developmental” constitution to a liberal market economic order. The diffusion process of the “social” and “liberal market” ideas was not just one-directional, but a combination of local and national actors’ demands and responses. The Korean case shows us that these dynamic contestation of different economic ideas gained importance in so-called late-developed countries, which were “laboratories of institutional contestation.”

This study investigates the synthesis of SmFe intermetallic compounds by a solid state reduction-diffusion process (R-D process) using a mixture of Sm2O3-CaH2 ball-milled powders and Fe nanopowders. The Sm2O3-CaH2-Fe mixed powders were subjected to heat treatment under a switched gas atmosphere from Ar-5 vol.%H2 to a vacuum atmosphere during the R-D process at 800 οC. It was found that the SmFe intermetallic phases of Sm2Fe17 and SmFe3 were effectively formed in a switched gas atmosphere and observed on the surface of the sintered Fe nanopowder agglomerate. This formation occurred because the sintering of agglomerated Fe nanopowders occurred at a low temperature of about 500 οC earlier before the Sm dissociated from SmH2 was diffused into the sintered Fe nanopowders agglomerate during the R-D process. The Sm2Fe17 phase of the target alloy was identified having a rhombohedral Th2Zn17-type (2:17 R) structure with a grain size of 400-800 nm. It is expected that the Sm2Fe17 nanopowders can be effectively fabricated by controlling the initial powder characteristics such as size refinement and mixing homogeneity

The formation of the $YBa_2Cu_30_{7_\delta}$(Y123) thick films has been investigated by a surface diffusion Imcess between $3BaCu0_2$+2CuO composite coating powder and a $Y_2BaCuO_5$(Y211). This reaction has been studied in the temperature of $930^{\circ}C$ and $940^{\circ}C$ for 2h to 10h in an oxygen atmosphere. The Y211 substrates becomes covered by co-precipitation of Y123 grains and CuO inclusions. X-ray diflractotnctn. revealed that the lager consisted of an orthorhombic crystal structure. The maximum Jc of $400A/\textrm{cm}^2$ is abtained when the specimen was heat-treated at $930^{\circ}C$ for 6h on the Y211 substrate.

A simple doping method to fabricate a very thin channel body of the p-type FinFETs with a 20 nm gate length by solid-phase-diffusion (SPD) process was developed. Using the poly-boron-films (PBF) as a novel diffusion source of boron and the rapid thermal annealing (RTA), the p-type sourcedrain extensions of the FinFET devices with a threedimensional structure were doped. The junction properties of boron doped regions were investigated by using the $p^+-n$ junction diodes which showed excellent electrical characteristics. Single channel and multi-channel p-type FinFET devices with a gate length of 20-100 nm was fabricated by boron diffusion process using PBF and revealed superior device scalability.

[ $Nd_2Fe_{14}B$ ]permanent magnetic powders ($_iH_c$ = 9.2 kOe, $B_r$ = 12.2 kG) were produced by HDDR process. Their coercivity was enhanced to 12.6 kOe through the grain boundary diffusion process with dysprosium hydride ($DyH_x$). $DyH_x$ diffusion process was optimized through rotating diffusion process, resulting in distinct phases rich in Nd and Dy observable by field emission scanning microscopy and transmission electron microscopy. The mechanism of coercivity enhancement that resulted in restrain the coupling effect between $Nd_2Fe_{14}B$ grains is also discussed.

In the present study, we systematically investigated the effect of mechanical milling on the magnetic properties of $Sm_2Fe_{17}N_x$ powders produced by the reduction-diffusion process. The Sm-Fe powders obtained by the reduction-diffusion process were composed of an $Sm_2Fe_{17}N_x$ single phase. After nitrogenation, the coercivity and saturation magnetization of the powders were 0.48 kOe and 13.32 kG, respectively. The particle size largely decreased down to less than $2\;{\mu}m$ in diameter after ball milling for 30 hours. However, there is no evidence that the $Sm_2Fe_{17}N_x$ was decomposed to Sm-N and ${\alpha}$-Fe even after ball milling for 30 hours. The coercivity was significantly improved up to 8.82 kOe after milling for 60 hours. However, the magnetization decreased linearly with the ball milling time.