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RISS 인기검색어
- 검색키워드
- 저자 : WENKAI SUN (검색결과 4 건)
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The Evolutionary Pattern of Global Imbalance: Evidence from Cross Country Data from 1970 to 2010
WENKAI SUN 연세대학교 동서문제연구원 2012 Global economic review Vol.41 No.4
In this article, we emphasize that net foreign asset (NFA) is an important indicator that can nicely reflect global imbalance and has not received enough attention. We use a representative data-set to examine how the NFA varies with the development stages of different countries. We also investigate the determinants of NFA and the composition of external asset and liability. We have obtained some important findings. First, the change of NFA follows an inverse U-shaped curve with the increase of gross domestic product (GDP) per capita. This means that the most-watched global imbalance may decrease with economic development in the future. Second, industrial structure, openness to international market, inflation, development of domestic financial market and public debt are important factors that affect the ratio of NFA/GDP and compositions of external asset and liability. Third, the NFA/GDP ratio in China is currently at the early stage of the inverse U-shaped curve and is expected to decrease in the future. As for the compositions of external asset and liability, China is holding too much asset in the form of foreign exchange reserves (FER) and too much liability in the form of foreign direct investment (FDI). In contrast to some existing views, we believe that the restrictions on capital mobility, rather than NFA, affect the composition of external asset and liability. This study sheds some light on the imbalance issue and the corresponding policy-making.
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Liquidity Constraints, the Composition of Government Expenditure, and Economic Growth
WENKAI SUN,XIANGHONG WANG 연세대학교 동서문제연구원 2011 Global economic review Vol.40 No.4
This paper examines the impacts of liquidity constraints on economic growth and social welfare by incorporating the role of government expenditure into the overlappinggenerations model developed by Jappelli and Pagano in 1990s. In our model, the government can provide funds to the young faced with liquidity constraints. Our theoretical findings are as follows: (1) with exogenous technical progress, liquidity constraints on households raise the saving rate; (2) with endogenous technical progress, liquidity constraints and economic growth rate show an inverted U-shaped relationship; (3) with both exogenous and endogenous technical progress, the steady state per capita income first increases and then declines with the increase of liquidity constraints. Our empirical analysis with cross-country data supported this conclusion; (4) given certain values of the model parameters, social welfare in steady state may decrease with the reduction of liquidity constraints.
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H2 Metabolism revealed by metagenomic analysis of subglacial sediment from East Antarctica
Zhifeng Yang,Yu Zhang,Yongxin Lv,Wenkai Yan,Xiang Xiao,Bo Sun,Hongmei Ma 한국미생물학회 2019 The journal of microbiology Vol.57 No.12
Subglacial ecosystems harbor diverse chemoautotrophic microbial communities in areas with limited organic carbon, and lithological H2 produced during glacial erosion has been considered an important energy source in these ecosystems. To verify the H2-utilizing potential there and to identify the related energy-converting metabolic mechanisms of these communities, we performed metagenomic analysis on subglacial sediment samples from East Antarctica with and without H2 supplementation. Genes coding for several [NiFe]- hydrogenases were identified in raw sediment and were enriched after H2 incubation. All genes in the dissimilatory nitrate reduction and denitrification pathways were detected in the subglacial community, and the genes coding for these pathways became enriched after H2 was supplied. Similarly, genes transcribing key enzymes in the Calvin cycle were detected in raw sediment and were also enriched. Moreover, key genes involved in H2 oxidization, nitrate reduction, oxidative phosphorylation, and the Calvin cycle were identified within one metagenome-assembled genome belonging to a Polaromonas sp. As suggested by our results, the microbial community in the subglacial environment we investigated consisted of chemoautotrophic populations supported by H2 oxidation. These results further confirm the importance of H2 in the cryosphere.
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Qian Guo,Young-Suk Grace Kim,Yan Liu,Yan Peng,WENKAI SUN,Yijie Wang,Li Yang 서울대학교 교육연구소 2021 Asia Pacific Education Review Vol.22 No.1
Thanks to urbanization, some developing countries have a large migrant population. Academic performance of migrant children is usually far from satisfactory, much to the concern of educators and legislators. Meanwhile, research has attested to the importance of reading skill development by the end of third grade for later academic achievement. Against this background, we evaluated the effects of providing self-selected, developmentally appropriate books on the reading performance and summer reading amount of students in migrant schools in China, employing a randomized controlled trial. The intervention program improved rising second-graders’ word reading scores and summer reading amount. It proved particularly beneficial to low-performing children and children from disadvantaged families. The findings have implications for improving the academic achievement of migrant children in migrant schools in China and similar developing countries, especially where parental support may not be expected for the academic development of children.
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