2019, Vol.26, No.1

Journal of Asia-Pacific Studies 2023 KCI Impact Factor : 0.61

pISSN : 1225-8539 / eISSN : 2671-5171
https://journal.kci.go.kr/japs

To identify the main factors and its priorities for the growth of North Korea enterprises this study conducted Delphi method and AHP(Analytic Hierarchy Process). Through the Delphi 5 upper factors and 21 sub-factors were selected and those were used for the AHP analysis. The implications of the study are as follows. Firstly, improvement of environment and institutions should be prioritized for the growth of North Korean enterprises. In other words, the system in which ‘politics’ are involved in ‘management’ should be improved. The environmental· institutional factors surrounding North Korean enterprises are undermining their productivity, competitiveness, and potential. Secondly, North Korean enterprises have already significantly embraced market factors in their operations. In this context, both the <manager factor> and <management strategy factor> are important. Thirdly, securing capital is important. Fourth, the <organizational capacity factor> was the fifth priority among the five main factors. This indicates that North Korean enterprises currently place priority on securing investment and production rather than strengthening the competitiveness in the market, because the North Korean economy is still a ‘shortage economy’, and competition is not fierce.

The purpose of this study is to analyze the inherent logic of Abe’s 70th-Anniversary Statement from the perspective of overwriting Murayama Statement. Considering the advisory panel and Komeito, Abe expressed remorse and apology by accepting the key words of Murayama Statemnent. And he emphasized that previous Japanese position such as Murayama Statement would remain unshakable into the future. At the same time, he excluded colonial rules in 1910’s from objects of remorse and apology by stating Japan ended up becoming a challenger to the international order in 1930’s. And he exhorted Japanese, remembering tolerance of international community, to hoist the flag of ‘Proactive Contribution to Peace’. In other words, Abe did not regard apology as Post-war Japan’s responsibility. In this way, 70th-Anniversary Statement nullify essence of Murayama Statement. In related to Korea-Japan relations, 70th-Anniversary Statement did not mention directly Korean issue such as colonial rule and apology. As above analysis suggested, the exclusion of Korea brought in process of overwriting Murayama Statement.

I analyze the efficacy of the Trilemma hypothesis, as well as the spillover effect of the U.S. long-term interest rate on Korea’s interest rate, by utilizing SVAR (structural vector autoregression) methodology and a open macro model on long-term interest rate. I find that during the whole sample period, there existed the spillover effect of the U.S. interest rate on Korea’s interest rate, which support the Trilemma hypothesis. However, I find that during the pre-crisis period, the U.S. interest rate did not have significant spillover effect on Korea’s interest rate, which does not support the Trilemma hypothesis. In addition, I find that during both the whole sample and the pre-crisis period, the expectation on business cycles was a main driver of Korea’s long-term interest rate. Overall, the results suggest that regardless of the trilemma hypothesis, the aftermath of financial crisis as well as the expectation on business cycles played important role in determining the extent of the spillover effect.