Insolvency in the Corporate Sector and Financial Crisis in Korea

The paper shows that between the late 1980s and 1997, the year when Korea was engulfed in a financial crisis, its corporate-sector profitability was on a decreasing trend, albeit short-term ups and downs. The evidence presented in the paper suggests that Korea’s corporate and financial sectors had been highly vulnerable to a crisis for some years before 1997 and the actual timing of the crisis was triggered by the financial crisis in Thailand in July 1997 and its contagion effect.Asian crisis; Korean economy; corporate sector insolvency.

Restructuring of the chaebols and financial sector in Korea

노트 : The views expressed in this publication are those of the author(s) and do not necessarily reflect those of the Institute. No part of this book may be used reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in articles and reviews. For information, please write to the Centr

Financial Liberalization and Regulatory Changes in Korea

1. Introduction 2. Proliferation of NBFIs: A Precursor to the 1997 Financial Crisis 3. Role of NBFIs in the 1997 Financial Crisis 4. Financial Supervision: Before and After the Crisis 4.1 Credit Card Crisis: Haphazard Deregulation and Weak Financial Supervision 4.2 Mutual Savings Bank Crisis in 2011: A Replay of Previous Crises 5. Financial Development and Inadequate Financial Supervisio

The role of the government in promoting industrialization and human capital accumulation in Korea

노트 : - This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research - Volume Title: Growth theories in light of the East Asian experienc

Insight into highly conserved H1 subtype-specific epitopes in influenza virus hemagglutinin

Influenza viruses continuously undergo antigenic changes with gradual accumulation of mutations in hemagglutinin (HA) that is a major determinant in subtype specificity. The identification of conserved epitopes within specific HA subtypes gives an important clue for developing new vaccines and diagnostics. We produced and characterized nine monoclonal antibodies that showed significant neutralizing activities against H1 subtype influenza viruses, and determined the complex structure of HA derived from a 2009 pandemic virus A/Korea/01/2009 (KR01) and the Fab fragment from H1-specific monoclonal antibody GC0587. The overall structure of the complex was essentially identical to the previously determined KR01 HA-Fab0757 complex structure. Both Fab0587 and Fab0757 recognize readily accessible head regions of HA, revealing broadly shared and conserved antigenic determinants among H1 subtypes. The beta-strands constituted by Ser110-Glu115 and Lys169-Lys170 form H1 epitopes with distinct conformations from those of H1 and H3 HA sites. In particular, Glu112, Glu115, Lys169, and Lys171 that are highly conserved among H1 subtype HAs have close contacts with HCDR3 and LCDR3. The differences between Fab0587 and Fab0757 complexes reside mainly in HCDR3 and LCDR3, providing distinct antigenic determinants specific for 1918 pdm influenza strain. Our results demonstrate a potential key neutralizing epitope important for H1 subtype specificity in influenza virus

Bit Fusion: Bit-Level Dynamically Composable Architecture for Accelerating Deep Neural Networks

Fully realizing the potential of acceleration for Deep Neural Networks (DNNs) requires understanding and leveraging algorithmic properties. This paper builds upon the algorithmic insight that bitwidth of operations in DNNs can be reduced without compromising their classification accuracy. However, to prevent accuracy loss, the bitwidth varies significantly across DNNs and it may even be adjusted for each layer. Thus, a fixed-bitwidth accelerator would either offer limited benefits to accommodate the worst-case bitwidth requirements, or lead to a degradation in final accuracy. To alleviate these deficiencies, this work introduces dynamic bit-level fusion/decomposition as a new dimension in the design of DNN accelerators. We explore this dimension by designing Bit Fusion, a bit-flexible accelerator, that constitutes an array of bit-level processing elements that dynamically fuse to match the bitwidth of individual DNN layers. This flexibility in the architecture enables minimizing the computation and the communication at the finest granularity possible with no loss in accuracy. We evaluate the benefits of BitFusion using eight real-world feed-forward and recurrent DNNs. The proposed microarchitecture is implemented in Verilog and synthesized in 45 nm technology. Using the synthesis results and cycle accurate simulation, we compare the benefits of Bit Fusion to two state-of-the-art DNN accelerators, Eyeriss and Stripes. In the same area, frequency, and process technology, BitFusion offers 3.9x speedup and 5.1x energy savings over Eyeriss. Compared to Stripes, BitFusion provides 2.6x speedup and 3.9x energy reduction at 45 nm node when BitFusion area and frequency are set to those of Stripes. Scaling to GPU technology node of 16 nm, BitFusion almost matches the performance of a 250-Watt Titan Xp, which uses 8-bit vector instructions, while BitFusion merely consumes 895 milliwatts of power

カンコク ヘナム グン ノ ベイサク ノウカ ニ オケル キコウ ヘンドウ ノ ニンシキ ニ カンスル ブンセキ

本研究では韓国ヘナム郡の米作農家における気候変動の認識に関して分析した。ロジットモデルとプロビットモデルを用いて、気候変動の認識の決定要素を検定した。結果として、米作農家の気候変動の認識は高いこと(83.6%)が示された。年齢については負の値であり、高齢者であるほど認識が少ない。つまり若年層が強く気候変動を認識していた。教育については正の値であり、高学歴であるほど強く気候変動を認識していた。そして気候情報の入手については正の値であり、情報アクセスを改善することによって、強く気候変動を認識させることができると分かった。本研究から気候変動情報、教育、訓練における適切な政策プログラムが提供される。This study analyzes perception to climate change of rice farmers in Haenam district, Korea. A logit model and a probit model are used to examine the determinants of perception to climate change. The results indicate that rice farmers\u27 perception of climate change appear to be high(83.6 percent). The findings indicate that age, education and access to climate information have a significant impact on perception to climate change. This study provides some appropriate policy program of information on climate change, education and training

Optical switching of the Dirac point in graphene multilayer field-effect transistors functionalized with spiropyran

A facile method for achieving optical switching of the Dirac point and conductance in reduced graphene oxide multilayer FETs that are non-covalently functionalized with a photoresponsive spiropyran derivative is presented. The photoresponsive transition from spiropyran to merocyanine induces the reversible optical switching in graphene based FETs.close6