The Estimation of Spatial Heterogeneity Effects of the Determinants of Korea’s Official Development Assistance to Recipient Countries

이재득 국립부경대학교 글로벌지역학연구소 2024 Journal of Global and Area Studies(JGA) Vol.8 No.2

This study uses spatial heterogeneity regime models to analyze the allocation of Korea’s official development assistance (ODA) as the international financial aid to 55 recipient countries, and examines whether recipient countries’ level of democracy, distance from Korea, exports and imports, gross domestic product, global ODA, or global foreign direct investment have the spatial heterogeneity effects on the determinants of Korea’s ODAs to recipient countries. The empirical results show spatial dependence effects, and spatial heterogeneity across four regimes. Thus, the estimation of the determinants of Korea’s ODAs differs across Asia, Africa, Europe, America, and Oceania. Among the independent variables, the democracy level of recipient countries, distance from recipient countries, Korea’s export and import trade with ODA recipient countries, recipient countries’ GDP, and global ODA exhibited significant heterogeneity across regimes. Therefore, the spatial and spatial heterogeneity effects of the determinants of Korea’s ODA models are needed for more effective ODA policies.

한ㆍ중ㆍ일을 포함한 세계 주요국들의 교역패턴과 경제통합 효과 분석

이재득,안영철,최봉호 한국동북아경제학회 2009 동북아경제연구 Vol.21 No.2

The purpose of this study is to analyze general trade pattern, factors influencing on trade and the effect of economic integration of countries including Korea based on gravity model ,and to induce policy suggestion The method of analysis is used panel data analysis unlike that of many different studies. The result of analysis is as follows: The trade pattern of Korea and other countries is almost consistent with the theory of gravity model. In other words, it is revealed that the increase of GDP gives rise to the increase of the size of trade. And the distance between the trade countries have a negative effect on size of trade. The effect of per income on trade is almost positive. By the Analysis about the Northeast Asian Economy, the effect of local economic integration on trade of Korea is a negative to NAFTA and EU, but positive to ASEAN as China and Japan. We find that local economic integration of NAFTA and EU has a negative effect each other.

동아시아 국가들의 국제무역분석

이재득 한국동북아경제학회 2004 동북아경제연구 Vol.16 No.3

This paper analyzes the international trade linkage effects among Korea, Japan, China, and ASEAN countries using the recent international trade matrix. East Asian countries seem to be divided into 2 groups such as North -East counties and North-East counties. Japan has the highest trade influential coefficient in East Asian regions. Thus Japan contributes and influences the most greatly the trade of other East Asian countries. Recently China influences the other countries considerably greatly in this East Asian region. The trade sensitivity coefficients are the highest in Indonesia, Malaysia, and Singapore. As a result of trade structure test, Japan and China have the independent trade structures in East Asian region. ASEAN countries except Singapore have the independent trade structures in East Asian region. Korea has the neutral trade structure and Singapore has the trade enhancing trade structure in East Asian region, respectively. Thus Korea needs to enhance the economic and trade relationship with East Asian countries through the economic cooperation and integration to induce the more mutual trade volume in this East Asian region.

남북한 무역결합도와 교역구조 분석

이재득 한국동북아경제학회 2004 동북아경제연구 Vol.16 No.2

This paper analyzes the economic cooperation and trade structure between South and North Korea which are essential to the reunification of Korea. With the summit meeting of the South and North Korea, the South and North Korean Intra-trade will be increased sharply, and so will be highly needed to analyze the current trade structure of South and North Korea. To do this, this paper uses the Trade Intensity index and Grubel-Lloyd Intra-Industry Trade index. In terms of Trade Intensity index, we can find that the trade intensity between South and North Korea has rapidly increased as the two Korea deepens Inter-dependent economic relationship especially in the middle of 1990's. Furthermore North Korea's trade is more dependent on South Korea during 1990's. Until year 1994, South Korea's export is very lowly dependent on North Korea, but North Korea's export is greatly dependent on South Korea since year 1991. In terms of Grubel-Lloyd Intra-Industry Trade index, there have been a lot of intra-industry trade in the textile goods, steel and metal products. Even though the economic relationship between two Koreas has been more developed in 1990's, there still exists something to be developed. To vitalize the economic cooperation and trade between South and North Korea, two Korea should expand mutual understanding in economic cooperations and also be efficiently coordinated in the trade, tax, investment systems. Also multilateral international cooperation with neighboring nations is necessary for the North-South economic cooperation to develop the effective economic cooperation.

초고빈도 주가지수의 연속적인 파워변동과 이산적 변동성 점프에 대한 비모수적 추정

이재득 한국계량경제학회 2011 계량경제학보 Vol.22 No.4

This paper analyzes the realized jump volatility and jump probability of US SPC500 returns using the ultra-high frequency such as the five minute returns spanning the period from January 2001 through September 2010. The realized rate of returns, realized variation and realized bipower variation have the characteristics of nonnormal distributions and the volatility clustering effects. The volatility of US SPC500 appeared appreciably large in years 2002. 2004, 2006 and 2008, and especially large in year 2009 during which the world financial crisis occurred. The empirical results show that many large jumps appeared right after the world financial crisis. Especially before and after the year 2009, the realized variations had the extremely large discrete jumps and appreciably large jumps occurred in years 2002, 2004, 2006 and 2008, respectively. The empirical estimates also show that the realized US SPC500 five minute returns have the jump probability that there is at least one significant jump per five or seven days using the Tripower quarticity, nine or ten days using Quad-power quarticity, ten or twenty days using Min realized variation(Min RV) and Med realized variation(Med RV) during January 2001 through September 2010 at common critical levels. 본 연구는 2001년-2010년 동안 미국의 SPC500 주가지수의 하루 5분 간격의초고빈도자료(총 208,054개 관측치)를 사용하여 미국 SPC500 주가지수 수익률을 새로운 분석기법인비모수적 실현 변동성과 변동성 파워 이론을 사용하여 주가지수 수익률의 연속적 변동성과 불연속적점프변동성, 그리고 점프 통계량과 점프 발생확률에 대한 추정과 실증분석을 하였다. 2001년-2010년동안의 초고빈도 SPC500 주가지수에 대한 분석결과, 실현된 수익률(RR), 실현된 수익률의 변동(RV),그리고 실현된 수익률의 Bipower 변동성(BV) 모두 변동성집중현상을 보이고 있는데 특히 2009년전후에 변동성이 크게 나타났다. SPC500 주가지수의 실현된 수익률의 변동성은 2002년, 2004년,2006년, 2008년에 다소의 불규칙적인 점프가 종종 있었고, 특히 세계금융위기가 있었던 2008년 이후2009년 전후로 아주 큰 점프가 상당히 크게 그리고 자주 발생하였다. SPC500 주가지수 변동성의Bipower, Tripower, Quad-power, Min RV와 Med RV 등을 사용하여 여러 점프통계량을 추정하고검정한 결과, 2004년, 2006년, 그리고 2008년경에 점프 통계량이 종종 상당히 크게 나타나고 있으며2010년 전후에도 매우 큰 점프 통계량을 보이고 있으며 2000년 1월부터 2010년 9월말 까지 거의전 기간에 걸쳐 유의한 불연속적인 점프가 발생하고 있으며, 대체로 10일 혹은 2주 전후에 한 번씩유의한 점프가 발생하였다.

중국과 한국의 제품별 산업내무역, 비교우위 및 무역수지기여도 분석

이재득 한국동북아경제학회 2007 동북아경제연구 Vol.19 No.2

In recent years there are a few studies on international trade structure between Korea and China. Those analyses, however, examine the industrybasis international trade structure between Korea and China instead of specific product-basis analysis on international trade structure among China and Korea. China has been the largest trade partner of Kore and China contributes and influences Korean economy. While an analysis of industry-basis international trade structure between Korea and China gives us a broad understanding, it can't give us the exact and deep insight and understanding of international trade structure between Korea and China. Thus this paper investigates the specific product-basis analysis on international trade structure among China and Korea using the recent 2001-2005 trade statistical data. Several specific product-basis trade structure tests such as specific product-basis trade specialization test, intra-industry trade index and specific product-basis Contribution to Trade Balance index show that Korea has specialized in not all but most specific products of chemistry and related products and that Korea has the favorable trade balance effect and large comparative advantage in the some specific products of machinery and transport and chemistry and related products. Korea, however, has comparative disadvantage in other specific products of even chemistry and related products, machinery and transport and chemistry and related products.

파워 변동성과 불연속적인 일중 점프 및 일간 점프의 주기성에 대한 비모수적 추정

이재득 한국계량경제학회 2014 계량경제학보 Vol.25 No.1

This paper uses a new nonparametric realized volatility model by summing intraday squared returns to explain the discrete jumps and then estimates whether the jumps are significant or not according to derived jump statistics. In particular, this paper includes the periodicity filters of volatility and then analyzes and compares the recent realized discrete jump volatility of US SPC500 returns using the ultra-high frequency five minute returns spanning the period from January 2000 through September 2010 during which volatility was extremely large after year 2009. In the application to the US SPC500 stock price, the empirical estimates show that when we do not include the periodicity filters of volatility such as MAD, Short Half Scale and WSD using ROWV and ROWQ, the five minute returns have the jump probability that there is at least one significant jump per two or three days. When we consider the periodicity filters of volatility, the five minute returns of US SPC500 stock have a little bit smaller jump probabilities. When we include Max outlyingness in the jumps but do not include the filters such as MAD, Short Half Scale and WSD, the five minute returns of US SPC500 stock have the discrete jumps in five or six days. But when we include the volatility filters such as MAD, Short Half Scale and WSD they have the discrete jumps in nine or ten days during this the period from January 2000 through September 2010. 본 연구는 비모수적 실현 변동성 추정방법을 사용하여 2000년대 미국의 SPC500 주가지수의 불연속적인 점프의 존재와 그 점프의 유의성을 추정하였다. 특히 본 연구는 하루 5분 간격의 고빈도자료를 이용하여 효율적인 추정량을 얻기 위하여 ROWV와 ROWQ를 도입하고 여러 가지 변동성의 주기성 필터를 사용에 따른 점프 확률을 추정하고 비교하였다. 실증분석결과 변동성의 주기성 필터들인 MAD, Short Half Scale, WSD 들을 점프 통계량에 고려하지 아니 하였을 때는 5분간의 SPC500의 주가수익률은 적어도 2일 혹은 3일 만에 한 번씩 유의한 점프가 발생하였다. 그러나 변동성의 주기성 필터 들인 MAD, Short Half Scale, WSD 들을 점프 통계량에 고려하였을 때는 5분간의 SPC500의 주가수익률은 변동성의 주기성을 도입하지 않았을 때보다 좀 더 작은 점프 확률이 나타났다. 점프추정에 있어 Max outlyingness를 도입하였지만 MAD, Short Half Scale, WSD 등의 변동성 필터들을 고려하지 않았을 때는 5일 내지 6일 만에 한 번씩 불연속적인 점프가 발생하였다. 그러나 Max outlyingness를 도입하고 변동성 필터들을 고려하였을 때는 9일 내지 10일 만에 한 번씩 유의적인 불연속적인 점프가 발생하였다.

Financial Market Integration of the EU pre- and post- global financial crisis

이재득,임우리 한국유럽학회 2013 유럽연구 Vol.31 No.1

Since the establishment of the EU and European single market, there have been successful initiatives and attempts to make the deepened economic integration and the monetary or financial union.The financial crisis of 2008 has, however, severely negative affected financial markets and economic activity in all advanced and global financial markets The global financial markets have been threatened by EU member’sdebt problems and EU member countries have started to rebalance positive macroeconomic signs from the global financial crisis in year 2008. This paper investigates the degree of financial interdependence and transmission process of stock markets among the EU regions using 11 EU stock markets from 2001 to 2011.. Thus, this paper analyses the degree of financial or stock markets interdependences or linkages comparing pre- and post- period of financial crisis in 2008 in the EU regions by dealing with the stock data through 2001~2011 mainly using the VAR and cointegration approach. The empirical results give several implications on the stock market interdependences among 11 EU countries. The degrees of the stock market integration or the financial integration are compared pre- and post- global financial crisis. General trend of the degree of financial or stock markets interdependences or linkages in the EU is similar in both post period of the financial crisis and that of pre-period. Yet the financial impact ofstock markets becomes little lower than before that of the crisis.

각국 기술혁신과 수출 및 국민소득 패널분서

이재득 한국무역학회 2008 한국무역학회 학술대회 Vol.2008 No.4

부산의 중.일 무역구조와 수출경쟁력 비교분석

이재득 한국지역사회학회 2009 지역사회연구 Vol.17 No.-

Using the recent 2000-2007 trade statistical data. This paper shows that the Busan's Trade Intensity index with Japan is higher than Busan's Trade Intensity index with China and Busan's Trade Intensity index is more stable in Japan comparing with China in recent years. The intra-industry trade structure and comparative advantage of Busan's exports in Japan and China are different according to specific product even within the same industry. Busan does not have low quality vertical intra-industry trade structure except in other manufacture goods but has mainly high quality vertical intra-industry trade and horizontal intra-industry trade in most products in trading with China. Yet Busan has low quality vertical intra-industry trade as well as high quality vertical and horizontal intra-industry trade in trading with Japan. There are some changes in intra-industry trade structures, and the market comparative advantages in Japan and China have been declining over years 2000-2007. Ⅰ. 서론 Ⅱ. 부산무역의 단계별 특징 Ⅲ. 교역구조 분석모형 Ⅳ. 부산과 중국․일본의 산업내교역 분석 Ⅴ. 부산의 중국․일본시장에서의 비교우위 분석 VI. 결론