arXiv subjects

Han-Sol Lee

Publications and source records attributed to Han-Sol Lee.

2 recordsLinked to original sources

arXiv2022

Motivations and locational factors of FDI in CIS countries: Empirical evidence from South Korean FDI in Kazakhstan, Russia, and Uzbekistan

Considering the growing significance of Eurasian economic ties because of South Korea s New Northern Policy and Russia s New Eastern Policy, this study investigates the motivations and locational factors of South Korean foreign direct investment (FDI) in three countries in the Commonwealth of Independent States (CIS: Kazakhstan, Russia, and Uzbekistan) by employing panel analysis (pooled ordinary least squares (OLS), fixed effects, random effects) using data from 1993 to 2017. The results show the positive and significant coefficients of GDP, resource endowments, and inflation. Unlike conventional South Korean outward FDI, labour-seeking is not defined as a primary purpose. Exchange rates, political rights, and civil liberties are identified as insignificant. The authors conclude that South Korean FDI in Kazakhstan, Russia, and Uzbekistan is associated with market-seeking (particularly in Kazakhstan and Russia) and natural resource-seeking, especially the former. From a policy perspective, our empirical evidence suggests that these countries host governments could implement mechanisms to facilitate the movement of goods across regions and countries to increase the attractiveness of small local markets. The South Korean government could develop financial support and risk sharing programmes to enhance natural resource-seeking investments and mutual exchange programmes to overcome the red syndrome complex in South Korean society.

econ.GN↗

arXiv2022

The Impact of National Culture on Innovation A Comparative Analysis between Developed and Developing Nations during the Pre and Post Crisis Period 2007_2021

This empirical study investigates the impact of the Hofstede cultural dimensions (HCD) on the Global Innovation Index (GII) scores in four different years (2007, 2009, 2019 and 2021) to compare the impacts during the pre- and post-crisis (financial and COVID-19) period by employing ordinary least square (OLS) and robust least square (Robust) analyses. The purpose of this study is to identify the impact of cultural factors on the innovation development for different income groups during the pre- and post-crisis period. We found that, in general, the same cultural properties were required for countries to enhance innovation inputs and outputs regardless of pre- and post-crisis periods and time variances. The significant cultural factors (driving forces) of the innovation performance do not change over time. However, our empirical results revealed that not the crisis itself but the income group (either developed or developing) is the factor that influences the relationship between cultural properties and innovation. It is also worth noting that cultural properties have lost much of their impact on innovation, particularly in developing countries, during recent periods. It is highly likely that in terms of innovation, no cultural development or change can significantly impact the innovation output of developing countries without the construction of the appropriate systems.

econ.GN↗