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2018, Vol.27, No.2

  • 1.

    The Effect of the WTO/TBT Agreement on the Trade: MRQAP and Policy Implications

    SunGwon Ha | 2018, 27(2) | pp.3~34 | number of Cited : 1
    Abstract PDF
    This study analyzes the effect of the obligation of notification for WTO/TBT agreement on the international trade by the gravity model using Multi Regression Quadratic Assignment Procedure (MRQAP). The dependent variable of this study is the amount of exportation of 161 countries since 1995 to 2014. The independent variables are GDP, ratio of the number of notifications and etc. of each country. The results of the analysis are 1) the obligation of notification of technical regulations is effective for liberal trade between countries when exporters notify more TBTs(Technical Barriers to Trade). 2) Technical regulations need time for regulatory compliance of other countries. 3) The negative impact of many notifications on the trade has been reducing because of regulatory transparency. Through the results, this study suggests policy implications for Korean government. 1) notifying more TBTs to make transparency regulatory system. 2) expanding the TBT consortium for alerting and informing TBTs to regulatory targets, 3) expanding global market to emerging countries.
  • 2.

    Regulatory-induced path-dependent mechanisms -Focusing on the analysis of the structure of the Korean financial industry -

    HYUKWOO LEE | 2018, 27(2) | pp.35~70 | number of Cited : 2
    Abstract PDF
    This study points out that there is a limit to apply the path - dependent model to formal policy, especially regulation, and suggests a new analysis framework to explain the fixation phenomenon of regulation and to prove this through the case of segregation of silver. In the case of formal institutions such as regulation, it is not chosen by chance, but is formally adopted. Regulation once adopted is a target of regulation, which tends to regard regulatory revision as the abandonment of regulatory objectives. In the regulatory framework, the parties who have already entered are guaranteed profits, and the bureaucratic state maintenance and control tendencies are reflected. It is because of this mechanism that the formal system of regulation continues with a certain path. The regulation on Separation system of banks and industries is an example adopted to demonstrate the validity of this new framework. Why has the Korean standard for Separation system of banks and industries been kept constantly 4/100? This is because Korea has been unable to reflect the rapid changes in the financial industry, including banks, over the past 30 years. In addition, despite the changing regulatory environment, it can be assumed that regulatory norms due to uniformity and rigidity are likely to occur if the regulatory standards are kept at a certain level for such a long period of time. As confirmed in the actual case analysis, the competitiveness of Korea's banking business is a barriers to entry due to the segregation of silver, and the challenges such as the development of new businesses are less competitive than those of competitors. This is because, unlike the path dependence of the informal system, which is the result of voluntary adaptation and selection such as the privatization of the private sector, the adherence of the formal system of policies and regulations to a particular path is a result of the confluence of system and environment.
  • 3.

    An Exploratory Study on Regulatory Agencies' Behaviors Responding to Regulatory Resource Constraints

    Im, Jae Jin | 2018, 27(2) | pp.71~104 | number of Cited : 1
    Abstract PDF
    Regulatory agencies' response to resource constraints is an important issue in terms of regulatory effectiveness, but systematic research is lacking. As an effort to overcome this limitation, this study was to explore behaviors of regulatory agencies in response to resource constraints. Reviewing the precedent studies based on regulatory and organizational theories, the study suggested the potential behaviors of regulatory agencies under resource constraints: changes in regulatory processes, changes in enforcement methods, decoupling, and regulatory delegation and contracting-out. The study also discussed the realistic explanations of the response behaviors partly through the case of marine transportation regulation, and explained the problems that the regulatory agency's behaviors could bring about. Based on the findings, the study suggested that the regulatory framework should be designed to ensure the effectiveness of the regulatory system in consideration of the regulatory agencies’ behaviors under resource constraints. The study is expected to contribute to developing a theoretical analysis framework ultimately for an empirical study in the future.
  • 4.

    Regulatory Policy Information Ambiguity and Acceptance of Regulation using Big Data & Network Analysis: A case study of Electrical Appliances and Consumer Products Safety Control Act

    kim, yong-hee | JIYE JU | 최영해 and 1other persons | 2018, 27(2) | pp.105~138 | number of Cited : 1
    Abstract PDF
    The purpose of this paper is to identify correlation between regulatory information ambiguity and acceptance of regulatory policy in case of electrical appliances and consumer products safety control act. It is to indicate how ambiguity influence on acceptance of regulatory policy through the analysis of big data including social media of the Ministry of Trade, Industry and Energy(MOTIE). More types of provision of information like events, notice, general information have increased difficulties for target groups with bounded rationality to figure out definitely necessary information. Ambiguity caused by diversity of provision of information could obstruct acceptance of regulatory policy and affect policy success. Regulatory policy target in Korea have been thrown into confusion with ambiguity since regulatory policies based on electrical appliances and consumer products safety control act produced various information with different types and channels in online platform. This paper found out how ambiguity influence on acceptance of regulatory policy under big data. Major findings are follows. Unnecessary information have interrupted to find regulatory policy information and ambiguity on policy targets have influenced acceptance of policy considerably. This paper imply necessity of manage ambiguity overall policy step from regulatory policy design to policy implementation with provision of regulatory policy information. And it is suggested korean government tyr to make strategies to reduce ambiguity like high readability for policy target group to acquire specific information obviously.
  • 5.

    The Effect of Hiring Quotas on Youth Employment

    Lee In-Jae | 2018, 27(2) | pp.139~160 | number of Cited : 0
    Abstract PDF
    This paper analyzes the effects of the introduction of the hiring quotas for young people in the private sector to increase youth employment. In theory, the employment effect of the hiring quotas depends on the substitution effect and the scale effect. We build a dynamic model in which the youth hiring rate, the youth turnover rate, and the growth rate of the employment, determine the dynamic evolution of the proportion of youth employment in the establishment. The calibration results of the model show that the youth hiring quotas increases the employment ratio of the youth, but the magnitude is not significant even under perfect compliance.