This article shows the profit efficiency and its determinants in Korean savings banks in the period 2002--2008 using a three-step estimation procedure: profit efficiency, computed in the second step after the first step Generalized Method of Moments (GMM) estimation, is regressed on the...

This study aims to contribute to drawing a more complete picture of the role of multilateral economic and political institutions. Particularly, we pursue answers to questions such as how much influence participation in multilateral trade arrangements and military alliance has on bilateral trade...

This article provides an analytical solution to the ‘Greene problem’; use of McFadden's gauge function successfully separates technical inefficiency from the profit function and its share equations, even though allocative inefficiency is incorporated into the profit system, and establishes...

This article investigates the relationship between Foreign Direct Investment (FDI) and pollution measured by carbon dioxide (CO₂) emissions. The results suggest that while lax environmental regulations might attract FDI, the foreign companies utilize less polluting technology as compared to...

This paper investigates the relationship between the value of the dollar and the prices of two commodities, gold and oil. Granger causality is used on monthly data from January of 1970 through July of 2008. The empirical results show that the hypothesis that there is no causal relation between...

In a recent notable paper, Rose (2004a) finds no evidence that membership in the GATT/WTO increases trade. However, to evaluate accurately the role of the trade organization on trade promotion, only trade in commodities and sectors that are actually under the influence of that organization...

This article examines financial linkage of systematic risks for 20 industry portfolio returns between Korean and US stock markets. Time-varying beta coefficients of Capital Asset Pricing Model are estimated and Granger-causality tests are carried out for identifying the significance of the...

As a result of the 1973 oil embargo and the subsequent increase of world oil prices, the oil price control program took place in order to reduce the impact of sharply higher external oil prices. In this regard, since the domestic price for oil was below that of the world market, the price...

The purpose of this article is to examine the trade imbalance between the United States and China, and how it affects the United States' trade deficit. Contrary to our expectation, the United States' imports from China have no significant effect (actually a negative effect) on the United States'...

This study investigates the role of superstars in the Korean movie industry. We apply a two-step approach: the first step is to test the significance of the star power during 1988-1999 in Korea; the second step is to estimate the magnitude of star power. The appearance of a star actor increases...