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On the Impacts of Regional Trading Arrangements on FDI
Dong-Geun Han(한동근),Taek-Dong Yeo(여택동),Young-Man Yoon(윤영만),Shiyong Yoo(유시영) 한국무역학회 2004 한국무역학회 세미나 및 토론회 Vol.2004 No.8
The paper examines the impacts of the Northeast Regional Trading Arrangements (RTAs) on inward FDI to Korea. We first study the theoretical background of the relations between RTAs and FDI. Secondly, we analyze the major determinants of the inward FDI to Korea. Finally, a prediction about how the China-Japan-Korea FTA (hereinafter (CJK FTA) will affect the inward FDI to Korea is provided. Prior literature shows that there are three motives for FDI; horizontal integration, vertical integration, and advantage for product varieties. Depending upon which characterthe inward FDI to Korea has, the impact of the China-Japan-Korea FTA on the inward FDI will differ. With the theoretical background, we implemented an empirical study. To characterize the inward FDI to Korea, we constructed a fixed effect regression model where inward FDI was regressed on wage and interest differentials between home and source countries, exchange rates, GDP, trade volume, and the number of labor dispute. Two data sets were used: one consisting of the inward FDI by source country (1980-2003), and the other consisting of the inward FDI by sector and source country (1998-2003). Our empirical results show that the inward FDI to Korea is of both horizontal and vertical character. We argue that the China-Japan-Korea FTA is very likely to encourage FDI inflows to Korea. It is empirically found that the trade volume variable has a positive impact on the inward FDI in all industries, implying that trade and FDI are complements in the Korean industries. Empirical results also show consistent negative signs on real wage differential variable across industries. It is expected that the elasticity of the inward FDI with respect to the real wage differential is going to be much higher once the CJK FTA is formed. It is also expected that the negative effect of labor dispute on the inward FDI will aggravate when the FTA is created. A channel through which FTA may promote the FDI to Korea is growing domestic market size. FTA in general prompts economic growth through enlarged international trade. Therefore, growing consumers' purchasing power under the FTA could attract more FDI into Korea. Whether FTA will discourage or encourage the inward FDI depends on the relative magnitude of positive and negative impacts the FTA will bring. But our temporary verdict is that the CJK FTA is more likely to encourage the inward FDI in general as the Korean labor market is becoming more flexible.
김문기(Moon-Ki Kim),유중학(Joong-Hak Yoo),윤영한(Young-Han Youn),국정한(Jeong-Han Kook),박종권(Jong-Kweon Park) 한국공작기계학회 1999 한국공작기계학회지 Vol.8 No.5
Chucking for workpieces is very important for productivity and efficiency in lathe operations. In point of productivity, top jaws of the chuck should be changed as quickly as possible in order to reduce idle times whenever workpieces are regripped. A quick change power chuck which can change top jaws quickly by using a jaw change handle without any assembly/disassembly processes of screws is analyzed for this study. Strength and stiffness of top jaws by centrifugal force are considered for the design. Structural analysis for the chuck is executed, and the finite element method is introduced using MSC/NASTRAN software. Also, the performance of the chuck is evaluted by experiments.