A Study on the Dynamic Relationship between Cultural Industry and Economic Growth

Yugang He 한국유통과학회 2018 한국유통과학회 학술대회 논문집 Vol.2018 No.-

This paper attempts to explore the dynamic relationship between cultural industry and economic growth. On the grounds of Cobb-Douglas production function, the cultural industry is regarded as a determinant to impact economic growth. Meanwhile, the quarterly datum form the first quarter of 2000 to the fourth quarter of 2017 are employed to conduct an empirical analysis under the vector error correction model. Furthermore, a menu of statistic approaches will be used to testify the dynamic relationship between cultural industry and economic growth. Via the Johansen co-integration test, the results report that the cultural industry has a positive effect on economic growth. Through the vector error correction estimation, the results also report that the cultural industry also has a positive effect on economic growth, but less than that of the Johansen co-integration test.

A Study on the Determinants of Free Trade Agreement in South Korea: Evidence from Asian Countries

Yugang He 한국유통과학회 2018 유통과학연구 Vol.16 No.11

Purpose - Recently, large quantities of factors have affected the signing of the Free Trade Agreement between two countries. Due to this background, this paper selects South Korea as an example to explore the determinants of Free Trade Agreement from Asian countries. Research design, data, and methodology - A cross sectional data of 2016 will be employed and some variables such as real income and GDP will be used to run an empirical analysis under the linear probability model, probit model and logit model. Results - The findings show that the Asian countries’ exchange rate regime, real income, GDP and so forth can increase the probability of signing the Free Trade Agreement with Asian countries. Conversely, the distance can lower the probability of signing the Free Trade Agreement with Asian countries. Meanwhile, although the Asian countries’ import, consumer price index and population also can affect the probability of signing the Free Trade Agreement with Asian countries, the estimated coefficients are not statistically significant at 5% level. Conclusions - According to the empirical results, this paper provides a new scope for South Korea’s government to sign the Free Trade Agreement with other Asian countries.

A Study on the Impact of Artificial Intelligence Industry on Macroeconomy: Evidence from United States of America

Yugang He 한국유통과학회 2018 Asian Journal of Business Environment (AJBE) Vol.8 No.4

Purpose - The artificial intelligence industry plays an increasingly significant role in stimulating the development of United States of America’s economy. On account of this background, this paper attempts to explore the impact of artificial intelligence industry on United States of America’s macroeconomy. Research design, data, and methodology - This paper mainly focuses on the impact of artificial intelligence industry on GDP, employment, real income, import, export and foreign direct investment. Furthermore, the Phillips-Perron test and Canonical cointegrating regression will be employed to examine the impact of artificial intelligence industry on United States of America’s macroeconomy with a sample form 2010-Q1 to 2017-Q4. Results - Via the empirical analysis, the results reveal that the artificial intelligence industry has a positive effect on United States of America’s GDP, employment, real income, export and foreign direct investment. Conversely, the artificial intelligence industry has a negative effect on United States of America’s import. Conclusions - In summary, the impact of artificial intelligence industry on United States of America’s macroeconomy is positive and significant in statistics. Therefore, the government of United States of America should put more input into artificial intelligence industry.

A Study on the Impact of Sport Industry on Economic Growth: An Investigation from China

Yugang He 한국스포츠과학회 2018 스포츠과학연구(JSAS) Vol.2 No.2

Prior literature has posited that the sport industry has been effective method to drive the economic growth. Given the rationale, this study sets China as a research object with a quarterly data from the first quarter of 2003 to the fourth quarter of 2017 to explore how the sport industry affects economic growth. This study employed Johansen cointegration test and dynamic ordinary least squares as methods for an empirical analysis. The input of sport industry, the labor input, the capital input, and the economic growth are used as research variables. The results show that there is a long-run relationship among them. Johansen cointegration test’s estimation indicated that 1% increase in the input of sport industry will lead to 0.064% increase in economic growth. Dynamic ordinary least squares’ estimation showed that whenever in the one lead, in the one lag and in the present period, the input of sport industry always poses a positive effect on economic growth. Labor input also has a positive effect on economic growth. The capital input has a negative effect on economic growth. Finally, even though the input of sport industry has a positive effect on economic growth, its impact on economic growth is relative weak.

A Study on the Impact of E-business on International Trade - An Investigation from China and South Korea -

He Yugang 한중경제문화학회 2018 한중경제문화연구 Vol.11 No.-

The rising of E-business and network trade has promoted the transform and new development of international trade. Due to this, this paper attempts to investigate the impact of E-business on international trade between China and South Korea. On the grounds of rapid development of E-business, the E-business is regarded as a determinant that can impact the international trade between China and South Korea. Meanwhile, the quarterly data form the first quarter of 2000 to the fourth quarter of 2017 are employed to conduct an empirical analysis under the vector auto-regressive model. The international trade between China and South Korea is treated as an independent variable. The E-business, the foreign direct investment and the real exchange rate are treated as dependent variables. Furthermore, a menu of statistic approaches such as the Granger causality test and the vector auto-regressive estimates will be used to testify the impact of E-business on international trade between China and South Korea. Via the Granger causality test, the results report that the E-business is major reason that can drive the development of international trade between China and South Korea. Through the vector auto-regressive estimates, the results also report that the E-business has a positive effect on international trade between China and South Korea. Furthermore, this paper provides a view that the E-business is a kind of a determinant that can promote the international trade between China and South Korea. Therefore, the China’s government should pay much attention to the infrastructure of E-business so as to enlarge the trade volume between China and South Korea.

An Empirical Study on the Dynamic Interaction between E-Business and Economic Growth In China

Yugang He,Wei Wei 국제e-비즈니스학회 2017 e-비즈니스 연구 Vol.18 No.5

Along with the E-Business’s swift devel opment, E-Business is getting more and more important in economic developm ent’s function. Also, E-Business is the first productive point in the developme nt of economy and a new economic mo de to produce value. The purpose of this empirical study is to explore the dy namic interaction between E-Business and economic growth in China. The re ason is that being a completely new pa ttern of business operation, E-Business is giving a great lash to traditional econ omy in China. This study applies annu al data from 2000 to 2016. The Cobb-D ouglas production function is introduced into this paper. The theoretical framew ork is established, which is based on this function with the E-Business. The Augmented Dickey-Fuller test, cointegr ation test, Granger causality test, impul se response function and variance dec omposition are used to analyze the dy namic interaction between E-Business and economic growth. The empirical a nalysis is conducted under the vector autoregression model. The empirical r esults indicate that there is a dynamic interaction between the E-Business and the economic growth in China. More sp ecifically, the E-Business and economic growth move in the same direction. In other words, an increase in the E-Busi ness will result in an increase in the real GDP; an increase in the real GDP will also lead to an increase in the E-Bu siness. However, the contribution of EBusiness on economic growth is less than that of economic growth on E-Bus iness.

The Importance of Artificial Intelligence to Economic Growth

HE, Yugang Korea Artificial Intelligence Association 2019 인공지능연구 (KJAI) Vol.7 No.1

The rapid development of artificial intelligence technology has exerted a great influence on all fields of the world, which of course also affects the world economy. This has also aroused a large number of economists' interest in this proposition. Since the definition of artificial intelligence is not unified yet, the results from previous researches are not reliable enough. At present, most scholars use the neoclassical growth model or task-based model to explore the path of artificial intelligence on economic variables. There into, most of them use the degree of automation to represent the artificial intelligence. They find that the degree of automation can change the proportion of industries. This only verifies that artificial intelligence can affect the economic variables. But the magnitude of artificial intelligence on economic variables can not be correctly estimated. Therefore, in order to have a better understanding on the impact of artificial intelligence on economic growth, this paper systematically reviews and collates previous literature on this topic. The results of this paper indicate that both in theoretical and empirical studies, artificial intelligence has a positive effect on economic growth. Then, some suggestions and limitations have also been put forward accordingly.

Economic Growth and Foreign Trade: Evidence from China

He, Yugang 한중경제문화학회 2017 한중경제문화연구 Vol.9 No.-

A Study on the Determinants of Income Distribution: Evidence from Macroeconomics

Yugang He,Wang Feng 한국유통과학회 2019 유통과학연구 Vol.17 No.1

Purpose – As the market economy deepens, the issue of social equity caused by income distribution becomes more and more significant. Therefore, this paper attempts to exploit the determinants of income distribution in terms of macroeconomics. Research design, data, and methodology - The data set from 1990 to 2017 will be used to conduct an empirical analysis under a menu of econometric approaches such as vector autoregressive model and impulse response function. The income distribution and other macroeconomic variables such as foreign direct investment and employment will be used to conduct an empirical analysis to explore the determinants of income distribution in terms of macroeconomics. Results - The findings indicate that the income distribution is related with macroeconomics. More specifically, the export, import, GDP and foreign direct investment play a role in deteriorating the income distribution. Conversely, the industrialization, inflation and employment can improve the income distribution. Unfortunately, the inflation and employment do not get through under 5% significant test. Conclusions – Due to that a good income distribution can be beneficial for both a country and an individual, this paper provides a new scope for China’s government to improve its income distribution in terms of macroeconomics.

A Study on the Mutual Effect between Small & Medium-sized Enterprises and Economic Growth: Evidence from Alibaba Group and City of Hangzhou

Yugang He 한국유통과학회 2019 Asian Journal of Business Environment (AJBE) Vol.9 No.2

Purpose - From the advanced path of development and current situation, the development of enterprises plays a tremendous role in promoting national economic growth and raising the overall national strength. Therefore, this paper aims at examining the mutual effect between small & medium enterprises and economic growth. Research design, data, and methodology - In order to address the operating mutual effect between the small & medium enterprises and economic growth more clearly, this paper sets Alibaba Group and Hangzhou as an example. Meanwhile, the annual data from 2000 to 2017 will be employed, and an empirical analysis will be performed under the vector error correction model. Results - The findings display that the total revenue of Alibaba Group has a positive effect on economic growth in city of Hangzhou. However, the Granger Causality test implies that there is only a unidirectional causality between total revenue of Alibaba Group and economic growth in Hangzhou. More specifically, 1% increase in total revenue of Alibaba Group can result in 0.272% in economic growth of Hangzhou in the long run. Conclusions - In summary, for the long run, the local governments should promulgate a series of policies to assist the small & medium enterprises like Alibaba Group to improve the local economic growth as seen in the city of Hangzhou.