Journal of Asia-Pacific Studies 2021 KCI Impact Factor : 0.88

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pISSN : 1225-8539 / eISSN : 2671-5171
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2020, Vol.27, No.3

  • 1.

    The Role of Manufacturing in Economic Growth in Korean East Sea Rim Countries: An Empirical Analysis of Kaldor’s Law

    CIN BEOM CHEOL | 2020, 27(3) | pp.5~31 | number of Cited : 1
    Abstract PDF
    This paper investigates whether or not the manufacturing sector is still important in playing the role of the engine of economic growth for countries near Korean East Sea, specifically Korea, China and Japan. By using APO databases over the period 1970-2015, it empirically examines Kaldor’s law which states correlation between GDP growth and the growth rate of manufacturing production. To do so, it controls for endogenity or simultaneity of the growth rate of the manufacturing production variable by employing two stage residual inclusion estimation procedure. It also introduces the Error Correction Model to consider the statics-dynamics paradox and cointegration relationship of non-stationary variables. Empirical results show that the growth rates of manufacturing output are positively associated with GDP growth for all three countries, regardless of different models or estimation methods. This supports Kaldor’s law implying that manufacturing sector plays the key role of economic development and growth for three countries. This implies that the long-term growth is demand-determined, rather than supply-determined, which is not consistent with the prediction of neoclassical and endogenous growth theories. Overall, the experience from the three countries near Korean East Sea tells us that the impacts of manufacturing output growth on economic growth are dependent on development stages. In earlier stage of development, the effects of manufacturing output on economic growth are larger than in later stages of development, which leads to different contribution to economic growth.
  • 2.

    One Belt One Road and the Determinants of OFDI of China

    Choi Young Jun , MENGDEHUA | 2020, 27(3) | pp.33~51 | number of Cited : 5
    Abstract PDF
    This study analyzed one-belt-one-road(OBOR) initiative and the determinants and the pattern of China’s foreign direct investment. The OBOR Initiative is China’s core political and diplomatic policy that affects foreign direct investment. This study analyzed China’s foreign direct investments in 130 countries from 2008 to 2017 using the GLS model based on the gravity model. The results of the study showed that GDP and the distance which determines the transaction cost, and whether or not a free trade agreement are significant. And the resoureces of destination countries are significant where its R&D is not significant. The OBOR is shown as an important factor that determine the pattern of FDI where it does not affect its FDI quantatively. The pattern of FDI of China in the target countries of OBOR is different from that of non-target countries. In other words, FDI of China is concentrated in countries with abundant energy resources in the OBOR route target countries, and in the countries rich in labor in the non-target countries.
  • 3.

    Review on New Southern Policy from the Lens of Immigration Policy: Focusing on ASEAN

    Younghee Cho , Kyunghee CHOI | 2020, 27(3) | pp.53~88 | number of Cited : 1
    Abstract PDF
    Based on the analysis of the policy meaning of the New Southern Policy’s “People-Centered”, this study discussed the necessity that the New Southern Policy should be linked to the immigration policy. The New Southern Policy is Korea’s diplomatic response to the neo-geographical strategies of major countries in conflict in Asia, and “People-Centered” can be used as a policy concept that makes Korea and ASEAN’s relations closer. In this context, from the perspective of immigration policy dealing with people’s border movements and the resulting socioeconomic impacts, Korea-ASEAN cooperation needs to be restructured from the perspective of immigration policy, which includes systematic stay management, social integration, and issues of return and reintegration of migrants from various types, rather than limited to border management and visa systems that control the scale of migration. For this discussion, this study analyzed in detail the current status and immigration policy issues of each type of stay of immigrants from ASEAN during the New Southern Policy period, and reconstructed the current New Southern Policy Tasks from the perspective of immigration policy. In addition, in consideration of policy coordination with ASEAN, a partner of the New Southern Policy, the mutual development strategy of the New Southern Policy and the Immigration Policy was presented based on the principles and issues of immigration cooperation pursued by the ASEAN Community.
  • 4.

    Socio-Economic Factors for Social Explosion in Chile: Objective Inequality vs. Subjective Relative Deprivation

    Lim, Taekyoon | 2020, 27(3) | pp.89~128 | number of Cited : 1
    Abstract PDF
    In 2019 Chile, which used to be praised for the most successful and stable political and economic development in Latin America in the 21st century, experienced unprecedented large-scale anti-government protests. This paper attempts to provide a better understanding on the current status of Chile’s inequality as a potential fundamental factor in the social explosion of 2019 and on the causal relationship between political protests and relative deprivation. It raises the following questions: How persuasive is the alleged criticism that the 2019 Chilean social explosion has the grave socio-economic inequality as the most significant fundamental cause? Theoretically, what causal relationship does the outbreak of political protests have with relative deprivation? This paper shows that the inequality level of Chile is not as negative as it is generally criticized in terms of objective relative deprivation such as Gini coefficient, but that the subjective relative deprivation representing individuals’ perception of unequal situations is quite negative compared to the objective relative deprivation. It argues that subjective relative deprivation, as opposed to objective inequality, or objective relative deprivation, is more persuasive as a fundamental socio-economic factor in the large-scale political protests in Chile in 2019.
  • 5.

    A Comparative Analysis Study on the Quality Assurance Framework of Employment Services Between Korea and Australia

    KIM HO-WON , Lee Jong Gu , Tae-Woo Kim | 2020, 27(3) | pp.129~151 | number of Cited : 0
    Abstract PDF
    The purpose of this study is to compare the two countries through a case study and literature on the certification evaluation of Australia’s Contracting-out employment service company, which introduced the Quality Assurance Framework earlier than Korea. The results of comparing the Quality Assurance Framework of employment services between Korea and Australia are as follows: First, in terms of target institutions to certification evaluation, certification is granted at the level of individual institutions in Korea because Contracting-out projects are contracted by the head office and branch offices respectively. However, Australia has a contract on a headquarter basis, so certification is centered on the head office. Second, in meeting certification standards and in the period of validity, Korea is required to meet certification standards before participating in Contracting-out business. However, Australia has a five-year contract period for Contracting-out business. Third, in terms of linkage between certification evaluation and permance evaluation, Korea uses the results of previous year’s project evaluation as a requirement to meet the certification criteria for performance agencies. In Australia, however, there is no organic link between certification and performance evaluations. The implications of this study are that in Korea, it is necessary to develop a certification evaluation index that can encourage Contracting-out employment service agencies to provide customized employment services to job seekers, reflecting the current situation in which the needs of job seekers are becoming very specific.