An Investigation on the Mutual Effect between Tax Revenue and Economic Growth

하육강 국제융합경영학회 2018 융합경영연구 Vol.6 No.3

The tax revenue is treated as an important index of national economy. The relationship between tax revenue and economic growth has been paid much attention by academic circles. Due to this, this paper attempts to investigate the mutual effect between tax revenue and economic growth. The tax revenue is regarded as a determinant to impact economic growth. Meanwhile, the annual datum form the year of 1980 to 2017 are employed to conduct an empirical analysis under the vector error correction model. The GDP is treated as an independent variable. The tax revenue is treated as a dependent variable. Furthermore, a menu of statistic approaches such as the co-integration test, the Granger causality test, the impulse response function and so on will be used to testify the mutual effect between tax revenue and economic growth. Via the co-integration test, the results report that the tax revenue has a positive effect on economic growth. Through the vector error correction estimation, the results also report that the tax revenue also has a positive effect on economic growth, but less than that of the co-integration test. Meanwhile, this paper provides a view that the tax revenue is a kind of a determinant to promote economic growth. Therefore, the China’s government should pay much attention to the improvement of tax revenue system so as to maintain a high-speed economic growth..

How do Energy Consumption, Economic Growth and Logistics Development Interrelate?

하육강 한국유통과학회 2020 유통과학연구 Vol.18 No.1

Purpose: Because the energy consumption, economic growth and logistics development are still the heated topics which have attracted many scholars’ interests. Therefore, this paper attempts to analyze the effect of logistics development on the economic growth, explore the effect of the economic growth on energy consumption and to discuss the effect of the logistics development on energy intensity. Research design, data and methodology: Using the panel data over the period 2000-2017 of 156 countries and employing the country & year fixed effect model, system generalized method moments and random effect model, the empirical analyses of this propositions are performed. Results: The empirical findings present that the logistics development is positively related to the economic growth. The energy consumption in the t-1 period and economic growth are positively related to the current energy consumption. The logistics development is negatively related to the energy intensity. Meanwhile, the empirical findings also indicate that there is a great difference about these effects among the four sub-samples (low income 18 countries, low middle income 49 countries, upper middle income 44 countries, high income 49 countries). Conclusions: Based on the evidences in this paper provided, we can find that these variables can affect each other.

A Study on the Determinants of Bilateral Trade: Evidence from China and United States of America

하육강 동아시아경상학회 2019 The East Asian Journal of Business Economics Vol.7 No.1

Purpose – Recently, the trade war between China and United States of America has been escalating, which has also attracted worldwide attention. Based on this background, this paper sets China and United States of America as an example to exploit the determinants of biliteral trade between China and United States of America. Research design, data and methodology – A quarterly data from the first quarter of 2000 to the fourth quarter of 2017 will be employed to conduct an empirical analysis under some econometric approaches such as fully modified least squares and vector error correction estimates. Results – The results of this paper show that the two economic entities of China and Unites States of America have the greatest positive effect on biliteral trade between China and United States of America. The real exchange rate has a positive effect on biliteral trade between China and United States of America. The nominal exchange rate has a negative effect on biliteral trade between China and United States of America in the short run. United States of America’s average price has a positive effect on biliteral trade between China and United States of America in the short run. China’s average price has a negative effect on biliteral trade between China and United States of America in the short run. Meanwhile, the biliteral trade between China and United States of America also suffers from the economic crisis happened in 2008. Even through the biliteral trade between China and United States of America in the short run is deviate from the long-run equilibrium, there exist an error correction mechanism back to the long-run equilibrium. Conclusions – This paper provides some empirical evidences for both governments. Based on the results of this paper, both governments should take corresponding measures to promote the development of bilateral trade between China and United States of America.

The Impact of Cross-Border Tourism on Bilateral Trade: Evidence from BRICS Countries

하육강 국제융합경영학회 2018 융합경영연구 Vol.6 No.4

Purpose - With the improvement of people's living standards, traveling abroad has become a common way for people to release the pressure of life and work. In economics, this kind of way can affect the international trade. Because of this background, this paper sets BRICS countries as an example to explore the impact of cross-border tourism on bilateral trade. Research design, data, and methodology - The annual time series data sets form 1998 to 2016 are used to perform an empirical analysis under a series of econometric approaches such as the Phillips-Perron test and the Engle-Granger two-step test. In this paper, the cross-border tourism is treated as an independent variable; the bilateral trade is treated as a dependent variable. Both variables will be used to conduct an empirical analysis based on the econometric approaches to analyze the impact of cross-border tourism on bilateral trade. Results - Based on the empirical analysis, the finding of this paper show that there is a long-run relationship between cross-border tourism and bilateral trade in this sample. Moreover, the cross-border tourism is the Granger causality of bilateral trade. Namely, the cross-border tourism can promote the development of bilateral trade. Conclusions - In short, the evidences that this paper presents show that the cross-border tourism is a driving factor that impacts the bilateral trade in the sample of BRICS countries. Therefore, BRICS countries’ governments should encourage their citizens to travel abroad so as to promote the development of bilateral trade, respectively.

A Study on the Dynamic Relationship between Education Input and Economic Growth

하육강 동아시아경상학회 2018 The East Asian Journal of Business Economics Vol.6 No.4

Purpose - The rapid economic growth can promote the education development. Conversely, the economic growth also can benefit form a good education input. However, the operating mechanism between education input and economic growth is still a proposition worth being studied. Therefore, this paper will set China as an example to analyze the dynamic relationship between education input and economic growth. Research design, data, and methodology - The annual time series from 1990 to 2017 will be employed to conduct an empirical analysis under the vector autoregression model. The education input is treated as an factor that impacts the economic growth such as the labor input and capital input. Meanwhile, the education input will be added to the Cobb-Douglas production function to form a new one so as to explore the dynamic relationship between education input and economic growth. Results - According to the results of empirical analysis, it can be found that the education input has an increasingly positive effect on economic growth. Simultaneously, the economic growth has a positive effect on education input, but this kind of effect is not steady. Of course, the labor input and the capital input also can promote the economic growth in some degree. Conclusions - The education input is one of most important inputs for a country. This paper provides some empirical suggestions on the dynamic relationship between education input and economic growth in respect of China. This paper suggests that the China’s government should put more emphasis on the education input so to make the economy develop well.

The Effect of E-Commerce on the Export Trade: Evidence from Cross-Province Panel Data

하육강,최용재 한국무역연구원 2019 무역연구 Vol.15 No.5

Purpose - With the rapid development of e-commerce, it has broken the traditional form of trade and opened up a new form of international trade. Therefore, this paper uses China’s 31 provinces as an example to explore the effect of e-commerce on export trade. Design/methodology/approach - Using panel data over the period 2008-2017 and employing the province, year fixed effect model, and system generalized method of moments, we fulfil empirical analyses on this proposition. Findings - The empirical findings indicate that the e-commerce has a positive and significant effect on the export trade by setting a one-lagged period foreign direct investment, labor resource endowment, and technology input as control variables in the export trade equation. Meanwhile, based on the unbalanced economic development in different areas of China, we divide China into three areas (eastern area, central area, and western area) to re-estimate the impact of e-commerce on the export trade. The empirical findings of the three areas indicate that e-commerce is still positively related with the export trade. However, there is a great difference among these three areas in terms of the effect of e-commerce on the export trade. Research implications or Originality - The empirical results of this study also enrich the current literature on this proposition with a sample on China. Moreover, this paper not only discusses the impact of e-commerce on the export trade, but also discusses the differences among the three regions on this topic.

A Study on the Impact of Real Exchange Rate Volatility of RMB on China's Foreign Direct Investment to Japan

하육강 동아시아경상학회 2018 The East Asian Journal of Business Economics Vol.6 No.3

Purpose – From establishing China-Japan diplomatic relations in 1972, the relations between two states has improved a lot, from which makes the government and the people reap much benefit. Owing to this background, the purpose of this study is to analyze the impact of exchange rate volatility of RMB on China's foreign direct investment to Japan. Research design, data and methodology – The quarterly time series data from 2003 to 2016 will be employed to conduct an empirical analysis under the vector error correction model. Meanwhile, a menu of estimated methods such the Johansen co-integration test and the Granger Causality test will also used to explore the impact of exchange rate volatility of RMB on China's foreign direct investment to Japan. Results – The empirical analysis results exhibit that the real exchange rate has a positive effect on China's foreign direct investment to Japan in the long run. Conversely, the real exchange rate volatility of RMB, the trade openness and the real GDP have a negative effect on China's foreign direct investment to Japan in the long run. However, in the short run, the China’s foreign direct investment to Japan, the real exchange rate, the trade openness and the real GDP in period have a negative effect on China’s foreign direct investment to Japan in period. Oppositely, the real exchange rate volatility of RMB in period has a positive effect on China’s foreign direct investment to Japan in period. Conclusions – From the empirical evidences this paper provided, it can be concluded that, in the long run, an increase in the exchange rate volatility of RMB can result in a decrease in the China's foreign direct investment to Japan. However, in the short run, an increase in the exchange rate volatility of RMB can lead to an increase in the China's foreign direct investment to Japan. Therefore, the China’s government should have a best control of the real exchange rate volatility of RMB so as to improve China's foreign direct investment to Japan.

금리자유화가 중국 상업은행 수익성에 미치는 영향

何 育 剛,王 銀 輝 한중경제문화학회 2018 한중경제문화연구 Vol.10 No.-

The Pass-through Effect of Import Goods Price on South Korea"s Macroeconomy

He Yugang(하육강),Choi, Yong-Jae(최용재) 한국산업경제학회 2020 한국산업경제학회 정기학술발표대회 논문집 Vol.2020 No.12

Economic Growth and Urban Haze- Dynamic spatial panel data analysis based on 241 prefecture- level cities in China

진문량,하육강,최백렬 전북대학교 산업경제연구소 2022 아태경상저널 Vol.14 No.3

This paper uses the spatial autoregression model (SAR) to explore the effect of foreign direct investment(FDI on haze (PM2.5) air pollution in 241 cities in China employing data published by the Socio-Economic Data and Applications Center (SEDAC) of Columbia University's Center for International Earth Science Information Network (CIESIN) Our analysis reveals an inverted U-shaped environmental kuznets curve (EKC) relationship between haze (PM2.5) pollution and China's economic growth. The appearance of China's haze (PM2.5) pollution has a time lag, and we also observed a "superposition effect" in the time dimension, as well as a spatial spillover effect. In short, the inflow of FDI has aggravated haze (PM2.5) in China, providing further evidence for the “pollution haven hypothesis (PHH)" hypothesis as it applies to China.