The Dynamics of Private Sector Development in Natural Resource Dependent Countries

Heshmati, Almas 연세대학교 동서문제연구원 2020 Global economic review Vol.49 No.4

This paper discusses the role of private sector development in overcoming the challenges of the resource curse. It identifies the developmental factors in the private sector in natural resource dependent countries by adapting a dynamic flexible adjustment model. Its empirical results are based on panel data from 110 natural resource producers in developed, developing, and emerging countries during the period 1990–2017. The findings show that natural resource rents can foster private sector development, and the speed of adjustment towards the target level of development is faster in oil and gas exporting countries.

The effect of credit guarantees on SMEs' R&D investments in Korea

Almas Heshmati 기술경영경제학회 2015 ASIAN JOURNAL OF TECHNOLOGY INNOVATION Vol.23 No.3

The Korean government has invested a significant amount of resources through creditguarantee funds for promoting SMEs’ survival, performance and R&D investments. Thisstudy attempts to identify the determinants of providing credit guarantees and estimates theireffects on firms’ R&D expenditures. It takes into account the heterogeneity of variouscharacteristics of firms when looking at credit guarantees and in-house R&D investmentrelationships. This study identified factors that enhance the efficiency of funds and theireffects on firms’ R&D investment behaviours. It enables feedback effects on the publicfunds that were selected by the guaranteed firms. It proposes a number of policy measuresto promote a better balance between public and private investments to reduce risks ofbusiness failures.

An Econometric Model of Employment in Zimbabwe's Manufacturing Industries

Almas Heshmati,Mkhululi Ncube 중앙대학교 경제연구소 2004 Journal of Economic Development Vol.29 No.2

This paper is concerned with the estimation of employment relationship and employment efficiency under production risk using a panel of Zimbabwe’s manufacturing industries. A flexible labour demand function is used consisting of two parts: the traditional labour demand function and labour demand variance function. Labour demand is a function of wages, output, quasi-fixed inputs and time variables. The variance function is a function of the determinants of labour demand and a number of production and policy characteristic variables. Estimation of industry and time-varying employment efficiency is also considered. The empirical results show that the average employment efficiency is 92%.

Efficiency and Productivity Impacts of Restructuring the Korean Electricity Generation

Almas Heshmati 한국경제연구학회 2013 Korea and the World Economy Vol.14 No.1

This paper investigates the performance of various generation plants in the Korean electricity market. The objective is to compare performance before and after the 2001 separation by using data from 1995 to 2006. The efficiency and productivity of the generation units is estimated by using a stochastic frontier model as well as data envelopment analysis and Malmquist productivity index. The result suggests that generation is mainly affected by facility type, maintenance cost, real fuel cost, and other costs. The national generation plan is characterized by high efficiency of nuclear plants, base type facilities, and large size facilities. It is also found that efficiency enhancement from the separation effect is not clearly discernible when comparing periods before and after the separation. Suggestions are made for the better utilization of economies of scale to further raise the efficiency of generation companies and the electricity industry through enhancement of fuel purchasing power and reallocation of labour.

Efficiency and Productivity Impacts of Restructuring the Korean Electricity Generation

Heshmati, Almas 한국경제연구학회 2013 Korea and the World Economy Vol.14 No.1

This paper investigates the performance of various generation plants in the Korean electricity market. The objective is to compare performance before and after the 2001 separation by using data from 1995 to 2006. The efficiency and productivity of the generation units is estimated by using a stochastic frontier model as well as data envelopment analysis and Malmquist productivity index. The result suggests that generation is mainly affected by facility type, maintenance cost, real fuel cost, and other costs. The national generation plan is characterized by high efficiency of nuclear plants, base type facilities, and large size facilities. It is also found that efficiency enhancement from the separation effect is not clearly discernible when comparing periods before and after the separation. Suggestions are made for the better utilization of economies of scale to further raise the efficiency of generation companies and the electricity industry through enhancement of fuel purchasing power and reallocation of labour.

Total Factor Productivity in Korean Manufacturing Industries

오인하,이정동,Heshmati, Almas 연세대학교 동서문제연구원 2008 Global economic review Vol.37 No.1

In this study, parametric and non-parametric methods are employed to measure the total factor productivity (TFP) growth in the Korean manufacturing industry from 1993 to 2003. The analysis period contains both periods before and after the Asian financial crisis. The TFP growth rate is decomposed into different components. Also different elasticities are reported. By classifying the results by period and classifying a number of time invariant firm characteristics, such as sector, size, and location of firms, we observe systematic heterogeneity for each characteristic. We discuss the underlying causal factors. The results from a non-parametric approach are also compared with those of a parametric approach. In this study, parametric and non-parametric methods are employed to measure the total factor productivity (TFP) growth in the Korean manufacturing industry from 1993 to 2003. The analysis period contains both periods before and after the Asian financial crisis. The TFP growth rate is decomposed into different components. Also different elasticities are reported. By classifying the results by period and classifying a number of time invariant firm characteristics, such as sector, size, and location of firms, we observe systematic heterogeneity for each characteristic. We discuss the underlying causal factors. The results from a non-parametric approach are also compared with those of a parametric approach.

Labour Use and its Adjustment in Indian Manufacturing Industries

( Amit K. Bhandari ),( Almas Heshmati ) 연세대학교 동서문제연구원 2005 Global economic review Vol.34 No.3

개방화와 경제성장에 따른 한국, 중국, 일본의 이산화탄소 배출량 비교 분석

최은호 ( Eun Ho Choi ),( Almas Heshmati ),조용성 ( Yong Sung Cho ) 한국환경정책평가연구원 2011 환경정책연구 Vol.10 No.4

한국과 중국, 일본 세 국가의 1971년부터 2006년까지의 시계열 자료를 바탕으로 이산화탄소 배출량과 경제성장 그리고 경제개방도의 인과관계를 파악하고, 환경 쿠즈네츠 곡선(Envirionmental Kuznets Curve, EKC)의 존재여부에 대해 분석하였다. 경제개방도나 경제성장에 따른 이산화탄소 배출량은 국가별로 상이한 형태를 보였다. 추정된 EKC는 국가별로 다른 패턴을 보이는데, 경제성장과 CO2 배출량의 경우 한국은 U자 곡선, 중국은 상승추세, 일본은 역N자 형태를 보였다. 일본은 약 30,000달러의 경제성장을 달성하면서 이산화탄소 배출 감소구간을 보이고 있다. 이와 같은 결과를 통해, EKC의 최고점에 이르지 않고도 선진국의 경험과 기술을 이용하여 터널을 거쳐 환경이 개선될 수있다는 가능성을 확인할 수 있었다. 경제개방도와 CO2 배출량의 관계를 보면 한국은 역 U자 곡선, 중국의 경우 U자곡선, 일본은 증가추세를 보였다. 또한 벡터자기회귀모형(vector auto regression, VAR)과 벡터오차수정모형(vector error correction model, VECM)을 사용하여 변수들 간의 동태적 관계를 분석하였다. 각 국가의 경제성장, 개방화 정도에 따른 이산화탄소 배출과의 관계를 보다 가시적으로 접근했다는 데 의의가 있다. This paper investigates the existence of the environmental Kuznets curve (EKC) for carbon dioxide (CO2) emissions and its causal relationships with economic growth and openness by using time series data (1971-2006) from China (an emerging market), Korea (a newly industrialized country), and Japan (a developed country). The sample countries span a whole range of development stages from industrialized to newly industrialized and emerging market economies. The environmental consequences according to openness and economic growth do not show uniform results across the countries. Depending on the national characteristics, the estimated EKC show different temporal patterns. China shows an N-shaped curve while Japan has a U-shaped curve. Such dissimilarities are also found in the relationship between CO2 emissions and openness. In the case of Korea, and Japan it represents an inverted U-shaped curve while China shows a U-shaped curve. We also analyze the dynamic relationships between the variables by adopting a vector auto regression or vector error correction model. These models through the impulse response functions allow for analysis of the causal variable`s influence on the dynamic response of emission variables, and it adopts a variance decomposition to explain the magnitude of the forecast error variance determined by the shocks to each of the causal variables over time. Results show evidence of large heterogeneity among the countries and variables impacts.

Tackling the Challenge of the Aging Society: Detecting and Preventing Cognitive and Physical Decline through Games and Consumer Technologies

David Wortley,안지영,Heshmati, Almas 대한의료정보학회 2017 Healthcare Informatics Research Vol.23 No.2

Objectives: This study seeks to review some of the approaches employed to address health and well-being issues in the elderly population. Methods: This article reviews and analyses a range of projects and approaches designed for the elderly population and aimed at preserving and/or enhancing physical and cognitive capabilities in later life. Results: Various intervention measures have been developed across the globe to preserve and/or enhance physical and cognitive capabilities of the elderly population. A selection of these measures is described in this article. Conclusions: Approaches which combine games psychology and mechanics with enabling technologies designed to engage, influence and motivate elderly people can encourage healthy active aging lifestyles. Healthy active aging helps to realise a double dividend of reduced healthcare costs and an improved quality of life for the elder citizen.

Editorial : Manufacturing Sector Productivity Growth in the Asia Pacific Region

Jeong Dong Lee,Almas Heshmati 연세대학교 동서문제연구원 2007 Global economic review Vol.36 No.4