55 research outputs found

    Achieving the Shared Economic Growth

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    After critically reviewing the literature on the institutional approaches for the shared growth, this paper briefly presents a General Theory of Economic Development (GTED) as basis for the discussion of shared growth. The GTED argues that Economic Discrimination (ED) by Markets, Corporations and Government is a necessary condition for shared economic development while Egalitarianism by any of them is a sufficient condition for economic stagnation. ED means treating the different differently while Egalitarianism is antithesis to ED. This paper also presents a new empirical framework for analysing growth and productivity implied by the GTED, and provides the empirical results that a 1 percent increase of per capita corporate asset brings about a 0.4 percent increase in per capita income and a decrease of income GIN1 coefficient by 0.015, supporting "the corporate-led shared growth hypothesis" of the GTED. Finally, the paper discusses the dramatic experiences of the rise. and fall of Korea's economic development and the stagnated Pakistani experience over the last 60 years, implying that the growth stagnation has been due to the anti-corporate policy led by the egalitarianism. JEL Classification: B, B5, D21, D23, 01, 043, P14 Keywords: General Theory of Economic Development, Shared Growth, Economic Discrimination (ED), Egalitarianism, Corporate-led Shared Growth, ED Policy Paradig

    Understanding Koreas Saemaul Undong: Theory, Evidence, and Implication

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    This study attempts to derive a theory of Saemaul Undong (SMU) by identifying its key success factors and to discover its policy implications for economic development. The proposed theory argues that the success of the SMU was fundamentally driven by the governments strong adherence to the economic discrimination (ED) principle of rewarding high performance and penalizing low performance, which is the basic function of the market. ED is the grand principle behind the success of the SMU. This study draws upon detailed historical and personal accounts about how the SMU was implemented by former President Park Chung Hee to show how faithful the SMU was to the ED principle. In addition, the study provides a new empirical model to estimate the effect of the SMU on economic growth and shows that the SMU had been a significant contributor to Koreas high growth performance during the 1970s. One of the main policy implications of the SMU is that development and social policies should comply with the ED principle by preventing any political influence from working against the ED principle for the success and sustainability of those policies. Finally, the study argues that the SMU model provides an alternative or complementary perspective to the existing community development models

    Risk and Returns of Financial-Industrial Interactions: The Korean Experience

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    Body image distortion in fifth and sixth grade students may lead to stress, depression, and undesirable dieting behavior

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    The widespread pursuit of a thin physique may have a detrimental impact on the wellbeing of preadolescents. The influence of body image distortions on the lifestyles, dieting behaviors, and psychological factors was investigated in 631 fifth and sixth grade children in Kyeonggi-do, Korea. Children were classified into three weight groups (underweight, normal, and overweight) and three perception groups (underestimation, normal, and overestimation). Necessary information was obtained by questionnaire, and each subject's weight status was determined by the Röhrer index calculated from the annual measurement records, which were obtained from the school. According to their current weights, 57.4% of children were normal and 32.2% were overweight or obese, 16.6% of the children overestimated their body weight, and 55.2% had an undistorted body image. Overweight children had desirable lifestyles and dietary habits and presented reasonable weight control behaviors. Compared to those without distortion, the overestimated group had greater interest in weight control (P = 0.003) and dissatisfaction with their body weights (P = 0.011), presented unhealthy reasons to lose weight (P = 0.026), and had higher scores for "feeling sad when comparing own body with others" (P = 0.000) and for "easily getting annoyed and tired" (P = 0.037), even though they had similar obesity indices. More subjects from the overestimation group (P = 0.006) chose drama/movies as their favorite TV programs, suggesting a possible role for the media in body image distortion. These findings suggest that body image distortion can lead preadolescents to develop stress about obesity and unhealthy dieting practices, despite similar obesity indices to those without distorted body images. These results emphasize the importance of having an undistorted body image

    Expression of TLR2, TLR4, and TLR9 in dermatomyositis and polymyositis

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    The aim of this study was to investigate the expressions of Toll-like receptor (TLR) 2, TLR4, TLR9, and their correlations with the expression of cytokines that are associated with activation of CD4+ T cells and inflammation including interferon γ (IFNγ), interleukin 4 (IL4), interleukin 17 (IL17), and tumor necrosis factor α (TNFα) in muscle tissues of patients with dermatomyositis (DM) and polymyositis (PM). The expressions of TLR2, TLR4, TLR9, IFNγ, IL4, IL17, and TNFα were measured by real-time reverse transcription–polymerase chain reaction in muscle tissues from 14 patients with DM and PM (nine patients with DM, five patients with PM) and three controls. The expressions of TLR2, TLR4, and TLR9 were also localized with immunohistochemistry. The expression levels of TLR2, TLR4, TLR9, IFNγ, IL4, IL17, and TNFα were significantly high in patients with DM and PM compared with those in the controls, and the expression levels of TLR4 and TLR9 had significant positive correlations with the expressions of IFNγ, IL4, IL17, and TNFα. Immunohistochemistry showed that TLR2, TLR4, and TLR9 were expressed by infiltrating cells of perimysium in DM, whereas they were expressed by infiltrating cells of endomysium in PM. These results suggest that the involvement of TLR4 and TLR9 in immunopathogenesis of DM and PM might be connected with activation of CD4+ T cells

    Capital mobility in Korea since the early 1980s

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    노트 : The earlier draft of this paper was presented at the Third Annual East Asian Seminar on Economics held in Sapporo, Japan on June 17-19, 1992, jointly sponsored by National Bureau of Economic Research, Tokyo Center for Economics Research, Korea Development Institute, and Chung-Hua Institution for Economic Research

    The competitive challenge to Korean industry in a new development economics perspective

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    노트 : Paper to be presented at the KDI 33rd Anniversary Conference on Industrial Dynamism and Competitiveness in the East Asian Economie

    Theory and Empirics of the Institutional Evolution of Economic Development: An Application to Korean Economy

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    This study empirically applies the theory of institutional requirement for economic development to explain Koreas modern history of economic development. The study theoretically derives the argument that the economic discrimination (ED) policy regime rewarding high performance relative to low performance is the necessary condition for economic development, whereas the economic egalitarianism (EE) policy regime disregarding the differences of performances is the sufficient condition for economic stagnation. The paper then describes some details of the institutional evolution of Korean economy for the last 60 years and presents three testable hypotheses for Koreas development history. 1) Institution-led growth hypothesis: The rise and fall of Koreas economic growth was respectively led by the ED and EE policy regimes. 2) Corporate-led growth hypothesis: The rise and fall of Koreas economic growth was led by the rise and fall of the corporate sector growth instigated by the ED and EE policy regimes, respectively; and 3) Political cycle of economic growth: The rise and fall of Koreas economic growth was led by the political cycle of economization of politics and politicization of economy, respectively. These hypotheses are empirically verified by utilizing a new model of corporate production function. Policy implication is that Koreas current economic difficulties can only be cured by reversing the current anti-corporate EE policy regime to the corporate-friendly ED policy regime
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