The Impact of Uncertainty Shocks about North Korea on Housing Market in Korea

2019 ◽  
Vol 37 (3) ◽  
pp. 73-94
Author(s):  
Ingul Baek ◽  
Moohwan Kim
Keyword(s):  
Housing Market ◽  
North Korea ◽  
Uncertainty Shocks ◽  
The Impact

The Impact of Sanctions on North Korea’s Foreign Trade from the Perspective of the Comparative Advantage Theory

2019 ◽  
pp. 4-15
Author(s):  
I. A. Korgun ◽  
G. D. Toloraya
Keyword(s):  
Foreign Trade ◽  
Competitive Advantage ◽  
National Economy ◽  
North Korea ◽  
Rent Seeking ◽  
Economic Transformation ◽  
Global Trade ◽  
Negative Consequences ◽  
The North ◽  
The Impact

The presented study analyzes the opportunities for North Korea to capitalize on its competitive advantages in foreign trade in the context of sanctions.Aim. The study aims to identify mechanisms that allow North Korea to engage in foreign trade in circumvention of UN sanctions and to analyze their impact on the national economy.Tasks. The authors analyze the structure of North Korea’s national economy, its initial competitive advantage, identify the specific features of North Korea’s foreign trade in the context of sanctions, and determine the consequences of illicit trade in circumvention of sanctions for the national economy.Methods. This study uses an interdisciplinary approach that combines the classical theory of competitive advantage with the concept of rent seeking, with the concept of rent seeking and analysis of trade flows.Results. The study shows that, despite the restrictions imposed by sanctions, North Korea strives to make the most of its advantages, such as resource availability and cheap labor, in global trade. The country builds its own export-import chains in circumvention of sanctions. These chains are rather mobile, flexible, and controlled by the elite. As a result, benefits from trade that could be evenly distributed among the population are concentrated in the hands of a narrow segment of society. ‘Rent seeking’ makes it possible to formulate the negative consequences of these processes for the North Korean economy and the international community.Conclusions. Solving the North Korean issue requires an economic transformation in the country through the replacement of restrictive sanctions with more constructive ones. The exclusion of North Korea from open global trade leads to the country’s marginalization and impairs the transparency of international commodity flows.

Assessing the impact of Covid-19 pandemic in Turkey with a novel economic uncertainty index

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Erhan Mugaloglu ◽  
Ali Yavuz Polat ◽  
Hasan Tekin ◽  
Edanur Kılıç
Keyword(s):  
Industrial Production ◽  
Explanatory Power ◽  
Principal Component ◽  
Intermediate Goods ◽  
Economic Uncertainty ◽  
Content Type ◽  
Uncertainty Shocks ◽  
Political Events ◽  
Uncertainty Index ◽  
The Impact

PurposeThis study aims to measure economic uncertainty in Turkey by a novel economic uncertainty index (EUI) employing principal component analysis (PCA). We assess the impact of Covid-19 pandemic in Turkey with our constructed uncertainty index.Design/methodology/approachIn order to obtain the EUI, this study employs a dimension reduction method of PCA using 14 macroeconomic indicators that spans from January 2011 to July 2020. The first principal component is picked as a proxy for the economic uncertainty in Turkey which explains 52% of total variation in entire sample. In the second part of our analysis, with our constructed EUI we conduct a structural vector autoregressions (SVAR) analysis simulating the Covid-19-induced uncertainty shock to the real economy.FindingsOur EUI sensitively detects important economic/political events in Turkey as well as Covid-19-induced uncertainty rising to extremely high levels during the outbreak. Our SVAR results imply a significant decline in economic activity and in the sub-indices as well. Namely, industrial production drops immediately by 8.2% and cumulative loss over 8 months will be 15% on average. The losses in the capital and intermediate goods are estimated to be 18 and 25% respectively. Forecast error variance decomposition results imply that uncertainty shocks preserve its explanatory power in the long run, and intermediate goods production is more vulnerable to uncertainty shocks than overall industrial production and capital goods production.Practical implicationsThe results indicate that monetary and fiscal policy should aim to decrease uncertainty during Covid-19. Moreover, since investment expenditures are affected severely during the outbreak, policymakers should impose investment subsidies.Originality/valueThis is the first study constructing a novel EUI which sensitively captures the critical economic/political events in Turkey. Moreover, we assess the impact of Covid-19-driven uncertainty on Turkish Economy with a SVAR model.

Human Rights Diffusion in North Korea: The Impact of Transnational Legal Mobilization

2017 ◽  
Vol 5 (1) ◽  
pp. 175-203
Author(s):  
Patricia GOEDDE
Keyword(s):  
Human Rights ◽  
North Korea ◽  
Legal Mobilization ◽  
Human Rights Protection ◽  
The North ◽  
Domestic Legislation ◽  
Evidence Collection ◽  
Rights Discourse ◽  
Human Rights Discourse ◽  
The Impact

AbstractThis article asks how legal mechanisms are employed outside of North Korea to achieve human rights diffusion in the country; to what extent these result in human rights diffusion in North Korea; and whether measures beyond accountability can be pursued in tandem for more productive engagement. Specifically, it examines how the North Korean government has interacted with the globalized legal regime of human rights vis-à-vis the UN and details the legal processes and implications of the UN Commission of Inquiry report, including domestic legislation, and evidence collection. While transnational legal mobilization has gathered momentum on the accountability side, it is significantly weaker in terms of achieving human rights protection within North Korea given the government’s perception of current human rights discourse as part of an externally produced war repertoire. Thus, efforts to engage the North Korean population and government require concurrent reframing of human rights discourse into more localized and relatable contexts.

scholarly journals The Impact of the COVID-19 Pandemic on the Demand for Density: Evidence from the U.S. Housing Market

2020 ◽  
Vol 2020 (2024) ◽  
Author(s):  
Sitian Liu ◽  
◽  
Yichen Su ◽  
Keyword(s):  
Housing Market ◽  
The Impact ◽  
The U.S
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