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JOURNAL OF ECONOMIC RESEARCH update

  • : 한양대학교 경제연구소
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  • : 1226-4261
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수록정보
수록범위 : 1권1호(1996)~25권1호(2020) |수록논문 수 : 312
JOURNAL OF ECONOMIC RESEARCH
25권1호(2020년 05월) 수록논문
최근 권호 논문
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KCI등재

1Foreign direct investments and economic growth: Evidence of firm-level productivity spillovers in the Philippines

저자 : Rainier Ric B. De La Cruz

발행기관 : 한양대학교 경제연구소 간행물 : JOURNAL OF ECONOMIC RESEARCH 25권 1호 발행 연도 : 2020 페이지 : pp. 1-20 (20 pages)

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Can developing countries really benefit from foreign direct investment? This study provides empirical evidence on the FDI - growth nexus at the microeconomic level by assessing the impact of foreign investments on the productivity of local manufacturing firms in the Philippines. While existing literature on spillover effects generally rely on case studies of specific FDI projects and country cases or industry level analyses, this research examines the existence of different spillover mechanisms using firm level data from the 2015 World Bank Enterprise Surveys which cover several aspects of business environment along with measures of firm performance.
Empirical estimates indicate that horizontal linkages, which capture the extent of foreign presence in one sector, are strongest in the electronics, precision instruments, and furniture subsectors, while forward linkages, which proxy for the potential forward spillover effect from foreign presence in a producer industry's suppliers, are strongest in transport machines and machinery and equipment. Finally, the strongest backward linkages are found in the basic metals and refined petroleum products subsectors. Regression results show that the level of firm equity owned by foreign investors (foreign share) has a positive and significant impact on local firm productivity while all proxies for spillover effects are insignificant in all model specifications. This may indicate that spillovers remain limited in the country because of the presence of economic and regulatory constraints: local firms may lack the necessary absorptive capacity to capitalize on beneficial knowledge transfers even as constitutional and other legal restrictions on foreign participation in certain key sectors continue to hamper foreign investment inflows.

KCI등재

2Religion and economy: An empirical study

저자 : Sanghoon Lee

발행기관 : 한양대학교 경제연구소 간행물 : JOURNAL OF ECONOMIC RESEARCH 25권 1호 발행 연도 : 2020 페이지 : pp. 21-43 (23 pages)

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This study analyzes the relationship between religions and economic development by using country-level panel data. This research contributes to the literature by examining the economic effect of religious denomination and the nonlinear relationship, and by using split sample regressions. The regression analysis shows that i) Islam has a negative effect on the level of GDP, but is positively related to GDP growth, although the regression results are not robust; ii) there exists an inverted U-shaped relationship between Protestantism and GDP level; and iii) the economic effects of religion are different across the levels of income. Overall, the regression analysis shows a substantial contrast between Western religions and non-Western religions. The empirical results suggest that the economic effect of religion depends on the peculiar characteristics of each religion and the mediating role of the level of economic development.

KCI등재

3New features in the migration-trade nexus: Historical country ties, profile of migrants and social integration effects

저자 : Andres Artal-tur , Vicente Pallardo-lopez , Mona Said

발행기관 : 한양대학교 경제연구소 간행물 : JOURNAL OF ECONOMIC RESEARCH 25권 1호 발행 연도 : 2020 페이지 : pp. 45-76 (32 pages)

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The arrival of immigrants can help to improve the economy of host countries, for example, by creating new trade flows. In this paper, we introduce new features in the analysis of the migration-trade nexus that modulate traditional results in the literature. First, we test if historical migration corridors between countries influence the size of related trade effects. Second, we investigate the role of migrants´ profile in this process, including their level of education, language proficiency, and professional background. Third, we analyse how social integration of immigrants shape results of the model, according to their length of stay at receiving countries, their age at arrival, and their acquisition of citizenship. The research employs gravity equations with panel data, using France as an illustrative case study. Results help to provide several policy recommendations.

KCI등재

4Volatility contagion and market integration across major coal markets: A diagonal BEKK GARCH approach

저자 : George Varghese , Dr. T. Bangar Raju

발행기관 : 한양대학교 경제연구소 간행물 : JOURNAL OF ECONOMIC RESEARCH 25권 1호 발행 연도 : 2020 페이지 : pp. 77-100 (24 pages)

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The present study attempts to meaningfully add to the existing strand of literature on coal market predictability by examining the level of market integration across three major coal export markets. Using a tri-variate diagonal BEKK GARCH framework, the study investigates the own-volatility persistence and cross-volatility contagion effects among European, Australian, and South African coal markets. The results validate the presence of strong volatility contagion among the three markets, indicating a high level of market integration. The contagion effect is observed to be heterogeneous across market pairs. Further, while the study finds convincing evidence for volatility clustering, the EGARCH results fail to affirm the presence of leverage effect among the returns series. In short, the study unveiled complex dynamics in the coal markets' price generation mechanism that necessitates active portfolio management. As such, besides having significant policy implications, the study's findings would be of pertinent interest to financial practitioners and investors who seek to diversify their portfolio through investments in global commodity markets.

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(2006)홍길동 외 1명심리학41회 피인용

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해당 간행물 관심 구독기관

Monash University 중앙대학교(서울) 한국방송통신대학교
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  • 1 Monash University (2건)
  • 2 중앙대학교(서울) (1건)
  • 3 한국방송통신대학교 (1건)

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