Overall and time-varying effects of global and domestic uncertainty on the Korean economy

This study analyzes the overall and time-varying effects of global and domestic uncertainty on the Korean economy by estimating constant parameter and time-varying parameter vector autoregressive models. Global and Korea-specific uncertainty are measured using the method proposed by Mumtaz and Theodoridis (2017). A rise in both the uncertainty measures has an adverse impact on the Korean economy by lowering stock market returns and output growth, and by creating inflation caused by currency depreciation. Quantitatively, the domestic uncertainty shock exercises a larger effect on the Korean economy than the global uncertainty shock, as the former uncertainty shock accounts for about one-fifth of output variation and the latter accounts for about one-tenth. Regarding time-varying effects, substantial increases in domestic uncertainty during the Asian Financial Crisis and global uncertainty during the Global Financial Crisis explain a significant part of macroeconomic fluctuations in Korea during those periods. This is because of the increased volatility of uncertainty shocks during these periods, rather than a structural change in the way these shocks affect the economy.     

Exploring the motivations to use online meal delivery platforms: Before and during quarantine

Online meal delivery platforms (OMDPs), like UberEats, have received more attention since quarantine was established to prevent the spread of COVID-19. The research into antecedents of satisfaction and continuous usage intention for OMDPs, in general, is under researched. The current study compared the antecedents of satisfaction before quarantine to the antecedents during quarantine through the lens of Expectation-Confirmation Theory. Through multiple regression analyses, the researchers found that before quarantine, sharing economy ethos, price-value, food quality, ease of use and confirmation of beliefs had a significant impact on satisfaction while during quarantine, food quality, service speed, ease of use, and confirmation of beliefs were significant. Practical and theoretical implications are discussed.     

浅谈基于大数据背景下的数字经济发展——以数字电网为例

我们已经进入了一个全新的大数据信息化时代,充满了更多的机遇与挑战。大数据及数字经济的出现极大程度地改变了传统技术及工作思维的方式。数字经济是继工业和农业之后的又一大经济形态,为社会的经济增长提供了新的动力。通过分析电网行业传统的科学技术及作业方式,论文简要阐述了基于大数据信息化发展下电网的影响,并认为信息化技术的发展对于数字经济有着至关重要的影响及重要性。最后论文讨论了数字经济发展存在的问题及方向。     

深化学科认知与构建中国特色社会主义政治经济学理论体系

对学科的认知包括认识学科内涵、学科性质与任务、学科发展进路等核心问题,关系到如何构建学科体系,是学科建设的重要内容。从深化学科认知的视角,中国特色社会主义政治经济学的学科发展与理论体系构建,要坚持几个重大原则,包括把中国特色社会主义政治经济学建立在历史唯物主义的基础之上;要以生产关系分析为核心来构建中国特色社会主义政治经济学的理论范式;坚持以人民为中心是中国特色社会主义政治经济学的本质属性;把共同富裕作为中国特色社会主义政治经济学的逻辑主线;以问题为导向研究新时代中国特色社会主义建设的重大理论与实践问题;《中国特色社会主义政治经济学》教材要体现学科的创新发展。     

The Urban–Rural Gap of Chinese Household Finance

Using data from a large household survey, we investigate the size of China’s urban–rural gap in ownership of bank deposits, risky financial assets, and credit cards. We further examine the factors underlying the gap using decomposition analysis. Compared to their urban counterparts, rural Chinese are much less likely to own a variety of financial products. Both demand-side barriers and supply-side barriers to financial inclusion exist in China. More, we use instrumental variable analysis to address the endogeneity of the local supply of financial service. Above all, our study indicates that a large financial services vacuum in rural areas needs to be filled.     

The effect of economic policy uncertainty on China’s housing market

This study examines the relationship between economic policy uncertainty (EPU) and housing price at the macro-level in China as a developing country. The empirical evidence indicates that EPU has a leading effect on China’s housing market. In general, the housing market is prosperous when economic policy is stable and there is a positive relationship between housing price variation and EPU, which means housing market risk grows under unstable economic policies in this developing economy. Moreover, economic policy variation affects low-amplitude changes in housing prices. A variation of policy uncertainty enhances the risk premium of the housing market. By contrast, the level of EPU influences high-amplitude changes in housing prices, which reflects the trend of EPU dominating China's housing market.     

What is happening in Paris? Airbnb,hotels, and the Parisian market: A case study

Airbnb has been the subject of heated discussions among tourism and hospitality scholars. In order to understand the true impact of P2Psharing on the tourism and hospitality landscape, it is important to understand that market in detail first. Therefore, in this paper, we explore the development of the Airbnb market over the last seven years in Paris, the most popular destination for Airbnb guests with more than 40,000 accommodation rentals. This research note is a summary of our findings on the Paris market. Our study shows different growth and seasonality patterns for Airbnb and hotels and dissimilarities in the geographical location of the offers. The findings indicate that the two products are not in direct competition and that their relationship might be more complex than previously thought. We trust that exploring the nature of the competitive relationship would be a valuable avenue for further investigation.     

The global faces of China’s incomplete reforms: a perspective from China’s new intellectual property regime

ABSTRACT

The paper probes into an antithetical aspect of China’s economic reforms in the global context by focusing on the recent developments of China’s intellectual property regime. By analyzing this cutting-edge legal system, it highlights China’s political divergence against its economic convergence in its decade-long reforms, in particular, its state-oriented innovation system as against the world’s neo-liberal economic order. The last decade witnessed China’s preeminent transformation from a passive follower to a proactive advocator of IP standards. However, certain entrenched limits characterizing China’s state-oriented economy and cultural systems such as information blockade and coercive technology transfer serve as catalysts that are apt to provoke acrimonious confrontation between China and major economies. In this sense, China’s incomplete reforms have taken on a new form: as China’s influence on the global economy grows, conflicts of diverse national priorities become more palpable than simple-minded economic cooperation.