Split (1)

train · ~2.08B rows (showing the first 9.65M)

pair_id string	label int64	pair_type string	pair_subtype string	a_doc_id string	a_snippet_id int64	a_text_type string	a_text string	b_doc_id string	b_snippet_id int64	b_text_type string	b_text string	a_metadata unknown	b_metadata unknown
pos-2700	1	positive	sentence_translation	1224	null	sentence	환율이 과도하게 상 승하면 한국은행은 외환시장에서 달러를 매도하여 환율의 상승을 억제할 것이므로 외환보유고는 감소하는 반면에, 환율이 과도하게 하락하면 한국은행은 외환시장에 서 달러를 매입하여 환율의 하락을 억제할 것이므로 외환보유고는 증가할 것이다.	1224	null	translation	If the exchange rate rises excessively, the foreign exchange reserves will decrease because the Bank of Korea will sell the dollar in the foreign exchange market to curb the increase in the exchange rate, whereas if the exchange rate falls excessively, the Bank of Korea will buy the dollar in the foreign exchange marke...	{}	{}
pos-2701	1	positive	translation_chunk_internal	1224	0	translation_chunk	If the exchange rate rises excessively, the foreign exchange reserves will decrease because the Bank of Korea will sell the dollar in the	1224	1	translation_chunk	foreign exchange market to curb the increase in the exchange rate, whereas if the exchange rate falls excessively, the Bank of Korea will buy	{}	{}
pos-2702	1	positive	translation_chunk_internal	1224	0	translation_chunk	If the exchange rate rises excessively, the foreign exchange reserves will decrease because the Bank of Korea will sell the dollar in the	1224	2	translation_chunk	the dollar in the foreign exchange market to curb the decrease in the exchange rate, thereby the foreign exchange reserves will increase.	{}	{}
pos-2703	1	positive	translation_chunk_internal	1224	1	translation_chunk	foreign exchange market to curb the increase in the exchange rate, whereas if the exchange rate falls excessively, the Bank of Korea will buy	1224	2	translation_chunk	the dollar in the foreign exchange market to curb the decrease in the exchange rate, thereby the foreign exchange reserves will increase.	{}	{}
pos-2704	1	positive	sentence_chunk_internal	1225	0	sentence_chunk	시장 참여자들이 앞으로 경기가 좋아질 것으로 예상하면 인플레이션 상승에 대한	1225	1	sentence_chunk	기대로 단기금리 도 상승할 것으로 기대하므로 현재의 장기금리가 상승하게 된다.	{}	{}
pos-2705	1	positive	sentence_translation	1225	null	sentence	시장 참여자들이 앞으로 경기가 좋아질 것으로 예상하면 인플레이션 상승에 대한 기대로 단기금리 도 상승할 것으로 기대하므로 현재의 장기금리가 상승하게 된다.	1225	null	translation	If market participants expect the economy to improve in the future, they expect short-term interest rates to rise because of expectations of rising inflation, so the current long-term interest rates rise.	{}	{}
pos-2706	1	positive	translation_chunk_internal	1225	0	translation_chunk	If market participants expect the economy to improve in the future, they expect short-term interest	1225	1	translation_chunk	rates to rise because of expectations of rising inflation, so the current long-term interest rates rise.	{}	{}
pos-2707	1	positive	sentence_translation	1226	null	sentence	어음부도율과 실업률은 경기와 밀접한 변수로 현재의 경 기상태를 나타내주며, 시장의 전체적인 위험 상태를 나타내주는 변수로 해석할 수 있다.	1226	null	translation	The bill default rate and unemployment rate are variables closely related to the economy, indicating the current economic state, and can be interpreted as variables indicating the overall risk status of the market.	{}	{}
pos-2708	1	positive	translation_chunk_internal	1226	0	translation_chunk	The bill default rate and unemployment rate are variables closely related to the economy, indicating the	1226	1	translation_chunk	current economic state, and can be interpreted as variables indicating the overall risk status of the market.	{}	{}
pos-2709	1	positive	sentence_translation	1227	null	sentence	표본의 기간을 선택하는 것은 거품의 측정과 시장효율성의 검정에 있어서 중요하 다.	1227	null	translation	Choosing a sample period is important in measuring bubbles and testing market efficiency.	{}	{}
pos-2710	1	positive	sentence_translation	1228	null	sentence	실제로 글로벌 금융위 기 기간 중 많은 국가에서 미 달러화에 대한 자국 통화의 가치가 크게 하락하였다.	1228	null	translation	In fact, during the global financial crisis, the value of their currencies against the US dollar fell significantly in many countries.	{}	{}
pos-2711	1	positive	sentence_translation	1229	null	sentence	오히려 미국발 금융위기가 타국으로 전파되는 과 정에서 무역관계가 중요한 역할을 하였다면 이는 다음의 과정을 따랐을 가능성이 크다.	1229	null	translation	Rather, if trade relations played an important role in the process of the financial crisis originating in the United States spreading to other countries, it is highly likely that the following process was followed.	{}	{}
pos-2712	1	positive	translation_chunk_internal	1229	0	translation_chunk	Rather, if trade relations played an important role in the process of the financial crisis originating in	1229	1	translation_chunk	the United States spreading to other countries, it is highly likely that the following process was followed.	{}	{}
pos-2713	1	positive	sentence_chunk_internal	1230	0	sentence_chunk	한편 Kaminsky and Reinhart는 미국시장 에서 남미국가들간 치열한 수출경쟁구조로	1230	1	sentence_chunk	인하여 이들 국가간에 외환위기 전염효과의 발생확 률이 높음을 실증적으로 보여주었다.	{}	{}
pos-2714	1	positive	sentence_translation	1230	null	sentence	한편 Kaminsky and Reinhart는 미국시장 에서 남미국가들간 치열한 수출경쟁구조로 인하여 이들 국가간에 외환위기 전염효과의 발생확 률이 높음을 실증적으로 보여주었다.	1230	null	translation	Meanwhile, Kaminsky and Reinhart empirically showed that the probability of a foreign exchange crisis contagion effect is high between South American countries in the US market because of the fierce export competition structure between these countries.	{}	{}
pos-2715	1	positive	translation_chunk_internal	1230	0	translation_chunk	Meanwhile, Kaminsky and Reinhart empirically showed that the probability of a foreign exchange crisis contagion effect is high	1230	1	translation_chunk	between South American countries in the US market because of the fierce export competition structure between these countries.	{}	{}
pos-2716	1	positive	sentence_chunk_internal	1231	0	sentence_chunk	추정결과는 2008년 글로벌금융위기 이후에 정부의 외환시장 개입은 시장의 신뢰 를	1231	1	sentence_chunk	잃으면서 위기로 인한 외환시장의 불안정을 진정시키는데 효과적이지 못했다는 가설을 뒷받침한다.	{}	{}
pos-2717	1	positive	sentence_translation	1231	null	sentence	추정결과는 2008년 글로벌금융위기 이후에 정부의 외환시장 개입은 시장의 신뢰 를 잃으면서 위기로 인한 외환시장의 불안정을 진정시키는데 효과적이지 못했다는 가설을 뒷받침한다.	1231	null	translation	The estimation results support the hypothesis that government intervention in the foreign exchange market after the 2008 global financial crisis was ineffective in calming the instability of the foreign exchange market caused by the crisis as market trust was lost.	{}	{}
pos-2718	1	positive	translation_chunk_internal	1231	0	translation_chunk	The estimation results support the hypothesis that government intervention in the foreign exchange market after the 2008 global	1231	1	translation_chunk	financial crisis was ineffective in calming the instability of the foreign exchange market caused by the crisis as market trust was lost.	{}	{}
pos-2719	1	positive	sentence_chunk_internal	1232	0	sentence_chunk	실증분석 모형 및 자료 전장에서는 글로벌 금융위기시 각국의 주식시장이 서로 다른 반응을 보인 이유 로써	1232	1	sentence_chunk	경제 기초요인의 차이, 미국과의 실물경제 연계성 차이, 해외 금융시장과의 연계성 차이 등을 제시하였다.	{}	{}
pos-2720	1	positive	sentence_translation	1232	null	sentence	실증분석 모형 및 자료 전장에서는 글로벌 금융위기시 각국의 주식시장이 서로 다른 반응을 보인 이유 로써 경제 기초요인의 차이, 미국과의 실물경제 연계성 차이, 해외 금융시장과의 연계성 차이 등을 제시하였다.	1232	null	translation	In the previous section of the empirical analysis model and data, the reasons each country's stock market reacted differently during the global financial crisis were differences in basic economic factors, differences in connectivity with the real economy with the United States, and differences in connectivity with over...	{}	{}
pos-2721	1	positive	translation_chunk_internal	1232	0	translation_chunk	In the previous section of the empirical analysis model and data, the reasons each country's stock market reacted	1232	1	translation_chunk	differently during the global financial crisis were differences in basic economic factors, differences in connectivity	{}	{}
pos-2722	1	positive	translation_chunk_internal	1232	0	translation_chunk	In the previous section of the empirical analysis model and data, the reasons each country's stock market reacted	1232	2	translation_chunk	with the real economy with the United States, and differences in connectivity with overseas financial markets.	{}	{}
pos-2723	1	positive	translation_chunk_internal	1232	1	translation_chunk	differently during the global financial crisis were differences in basic economic factors, differences in connectivity	1232	2	translation_chunk	with the real economy with the United States, and differences in connectivity with overseas financial markets.	{}	{}
pos-2724	1	positive	sentence_translation	1233	null	sentence	이는 글로벌 금융위기시 해외 금융연계성의 차이가 각국의 주가변동 차이를 결정하는 데에 중요한 역할을 하였 다는 것을 의미한다.	1233	null	translation	This means that during the global financial crisis, differences in overseas financial connectivity played an important role in determining differences in stock price movements in each country.	{}	{}
pos-2725	1	positive	translation_chunk_internal	1233	0	translation_chunk	This means that during the global financial crisis, differences in overseas financial connectivity	1233	1	translation_chunk	played an important role in determining differences in stock price movements in each country.	{}	{}
pos-2726	1	positive	sentence_translation	1234	null	sentence	즉 해외 금융시장과의 연계성이 높은 국가일수록 주 가하락률이 높아지는 경향을 보이고 있다는 것이다.	1234	null	translation	In other words, countries with higher connectivity with overseas financial markets tend to have higher stock price decline rates.	{}	{}
pos-2727	1	positive	sentence_chunk_internal	1235	0	sentence_chunk	환율변 동성이 증가할 때 외국인은 국내 직접투자를 줄이는 경향을 보이며 국내투자자들	1235	1	sentence_chunk	은 환율변동의 대비한 환리스크 관리를 위해 많은 비용을 소모하기도 한다.	{}	{}
pos-2728	1	positive	sentence_translation	1235	null	sentence	환율변 동성이 증가할 때 외국인은 국내 직접투자를 줄이는 경향을 보이며 국내투자자들 은 환율변동의 대비한 환리스크 관리를 위해 많은 비용을 소모하기도 한다.	1235	null	translation	When exchange rate volatility increases, foreigners tend to reduce domestic direct investment, and domestic investors spend a lot of money to manage foreign exchange risk in preparation for exchange rate fluctuations.	{}	{}
pos-2729	1	positive	translation_chunk_internal	1235	0	translation_chunk	When exchange rate volatility increases, foreigners tend to reduce domestic direct investment, and domestic	1235	1	translation_chunk	investors spend a lot of money to manage foreign exchange risk in preparation for exchange rate fluctuations.	{}	{}
pos-2730	1	positive	sentence_translation	1236	null	sentence	환율변화는 국제경쟁 력 변화를 통해 경상수지의 변화를 가져오고, 수입원자재 가격변화를 통해 국내 물 가에도 영향을 미친다.	1236	null	translation	Exchange rate changes bring about changes in the current account balance through changes in international competitiveness and also affect domestic prices through changes in the prices of imported raw materials.	{}	{}
pos-2731	1	positive	translation_chunk_internal	1236	0	translation_chunk	Exchange rate changes bring about changes in the current account balance through changes in international	1236	1	translation_chunk	competitiveness and also affect domestic prices through changes in the prices of imported raw materials.	{}	{}
pos-2732	1	positive	sentence_translation	1237	null	sentence	환율안정화를 위한 정부의 정책은 최근에 직접적인 시장개입보다 간접적으로 외환 시장유동성 및 거래량 규제 등으로 전환되고 있다.	1237	null	translation	The government's policy to stabilize exchange rates has recently shifted from direct market intervention to indirect regulation of foreign exchange market liquidity and trading volume.	{}	{}
pos-2733	1	positive	translation_chunk_internal	1237	0	translation_chunk	The government's policy to stabilize exchange rates has recently shifted from direct market	1237	1	translation_chunk	intervention to indirect regulation of foreign exchange market liquidity and trading volume.	{}	{}
pos-2734	1	positive	sentence_translation	1238	null	sentence	이는 경상수지 적자폭 이 작은 국가일수록 글로벌 금융위기시 상대적으로 낮은 주가 하락폭을 경험 하였다는 것을 의미한다.	1238	null	translation	This means that countries with smaller current account deficits experienced a relatively lower decline in stock prices during the global financial crisis.	{}	{}
pos-2735	1	positive	sentence_chunk_internal	1239	0	sentence_chunk	한편, 선진국 더미변수의 계수가 통계적으로 유의한 음 의 값으로 추정되어	1239	1	sentence_chunk	선진국의 경우 이외의 국가들에 비해 주가 하락폭이 컸던 것 을 확인할 수 있다.	{}	{}
pos-2736	1	positive	sentence_translation	1239	null	sentence	한편, 선진국 더미변수의 계수가 통계적으로 유의한 음 의 값으로 추정되어 선진국의 경우 이외의 국가들에 비해 주가 하락폭이 컸던 것 을 확인할 수 있다.	1239	null	translation	Meanwhile, the coefficient of the dummy variable of developed countries was estimated to be a statistically significant negative value, indicating that the decline in stock prices was greater than that of other countries.	{}	{}
pos-2737	1	positive	translation_chunk_internal	1239	0	translation_chunk	Meanwhile, the coefficient of the dummy variable of developed countries was estimated to be a statistically	1239	1	translation_chunk	significant negative value, indicating that the decline in stock prices was greater than that of other countries.	{}	{}
pos-2738	1	positive	sentence_chunk_internal	1240	0	sentence_chunk	앞에서 언급한 바와 같이 글로벌 금융위기 기간에 대한 논란의 가능성이 존재하므로	1240	1	sentence_chunk	주가변동 대상기간을 다르게 설정하여 앞에서 소개한 실증분석 결과의 강건성을 확인하였다.	{}	{}
pos-2739	1	positive	sentence_translation	1240	null	sentence	앞에서 언급한 바와 같이 글로벌 금융위기 기간에 대한 논란의 가능성이 존재하므로 주가변동 대상기간을 다르게 설정하여 앞에서 소개한 실증분석 결과의 강건성을 확인하였다.	1240	null	translation	As mentioned above, since there is a possibility of controversy over the period of the global financial crisis, the robustness of the empirical analysis results introduced above was thereby confirmed by setting the target period for stock price fluctuations differently.	{}	{}
pos-2740	1	positive	translation_chunk_internal	1240	0	translation_chunk	As mentioned above, since there is a possibility of controversy over the period of the global financial crisis, the robustness of the	1240	1	translation_chunk	empirical analysis results introduced above was thereby confirmed by setting the target period for stock price fluctuations differently.	{}	{}
pos-2741	1	positive	sentence_translation	1241	null	sentence	종속변수의 표본기간이 2008년 8월 이후이므로 설명변수는 2007년을 기준으로 산 정하였다.	1241	null	translation	Since the sample period for the dependent variable is after August 2008, the explanatory variable was calculated based on 2007.	{}	{}
pos-2742	1	positive	sentence_translation	1242	null	sentence	짧은 표본기간 으로 인하여 정책대응이 주가에 미치는 영향의 크기도 작았을 것으로 판단된다.	1242	null	translation	Because of the short sample period, the size of the impact of policy responses on stock prices is believed to have been small.	{}	{}
pos-2743	1	positive	sentence_translation	1243	null	sentence	식에 포함한 설명변수는 모두 글로벌 금융위기가 발생하기 이전인 2006년의 자료를 사용하여 산정하였다.	1243	null	translation	All explanatory variables included in the equation were calculated using data from 2006, prior to the occurrence of the global financial crisis.	{}	{}
pos-2744	1	positive	sentence_chunk_internal	1244	0	sentence_chunk	실증분석의 대상국가는 기본적으로 Rose and Spiegel이 제시한 표본 국가를	1244	1	sentence_chunk	기준으로 선정하였으며, 이 중 주가자료의 획득이 어려운 일부 국가를 제외하였다.	{}	{}
pos-2745	1	positive	sentence_translation	1244	null	sentence	실증분석의 대상국가는 기본적으로 Rose and Spiegel이 제시한 표본 국가를 기준으로 선정하였으며, 이 중 주가자료의 획득이 어려운 일부 국가를 제외하였다.	1244	null	translation	The target countries for the empirical analysis were primarily chosen based on the sample countries proposed by Rose and Spiegel, with some countries excluded due to the difficulty in acquiring stock price data.	{}	{}
pos-2746	1	positive	translation_chunk_internal	1244	0	translation_chunk	The target countries for the empirical analysis were primarily chosen based on the sample countries proposed	1244	1	translation_chunk	by Rose and Spiegel, with some countries excluded due to the difficulty in acquiring stock price data.	{}	{}
pos-2747	1	positive	sentence_chunk_internal	1245	0	sentence_chunk	신흥국의 단기외채 도입은 아시아 외환위기 이후 크게 위축되었으나 국제자본 이동이 2000년대	1245	1	sentence_chunk	들어 빠르게 재개되면서 글로벌 위기 직전인 2007년에는 전년말 대비 28.5%나 상승하였다.	{}	{}
pos-2748	1	positive	sentence_translation	1245	null	sentence	신흥국의 단기외채 도입은 아시아 외환위기 이후 크게 위축되었으나 국제자본 이동이 2000년대 들어 빠르게 재개되면서 글로벌 위기 직전인 2007년에는 전년말 대비 28.5%나 상승하였다.	1245	null	translation	The introduction of short-term foreign debt in emerging economies has significantly declined since the Asian financial crisis, however, as international capital movements resumed rapidly in the 2000s, it increased by 28.5% compared to the previous year in 2007, right before the global crisis.	{}	{}
pos-2749	1	positive	translation_chunk_internal	1245	0	translation_chunk	The introduction of short-term foreign debt in emerging economies has significantly declined since the Asian financial crisis, however, as international	1245	1	translation_chunk	capital movements resumed rapidly in the 2000s, it increased by 28.5% compared to the previous year in 2007, right before the global crisis.	{}	{}
pos-2750	1	positive	sentence_chunk_internal	1246	0	sentence_chunk	2000년대 후반 들어 외환보유액과 단기외채가 동시에 증가하는 추세가	1246	1	sentence_chunk	뚜렷이 나타나므로 본 고의 추정결과가 가성적 관계에서 비롯되었을 수도 있다.	{}	{}
pos-2751	1	positive	sentence_translation	1246	null	sentence	2000년대 후반 들어 외환보유액과 단기외채가 동시에 증가하는 추세가 뚜렷이 나타나므로 본 고의 추정결과가 가성적 관계에서 비롯되었을 수도 있다.	1246	null	translation	As there was a clear trend of simultaneous increase in foreign exchange reserves and short-term foreign debt in the late 2000s, the estimation results in this paper may have originated from a pseudo-relationship.	{}	{}
pos-2752	1	positive	translation_chunk_internal	1246	0	translation_chunk	As there was a clear trend of simultaneous increase in foreign exchange reserves and short-term foreign	1246	1	translation_chunk	debt in the late 2000s, the estimation results in this paper may have originated from a pseudo-relationship.	{}	{}
pos-2753	1	positive	sentence_translation	1247	null	sentence	내생성문제를 해결하기 위해 설명변수의 시차를 늦추는 방식으로 모형을 설정하였지만 여전히 동 문제가 남아있을 수 있다.	1247	null	translation	To solve the endogeneity problem, the model was set up by slowing down the lag of the explanatory variables, but the problem may still remain.	{}	{}
pos-2754	1	positive	sentence_chunk_internal	1248	0	sentence_chunk	외환보유액과 단기외채의 동반증가가 뚜렷하였던 2005년 이후 기간을 제외하 고 2000～2004년만을	1248	1	sentence_chunk	대상으로 추정한 결과에서도 외환보유액의 추정계수는 10% 수준에서 유의한 양의 값을 나타내었다.	{}	{}
pos-2755	1	positive	sentence_translation	1248	null	sentence	외환보유액과 단기외채의 동반증가가 뚜렷하였던 2005년 이후 기간을 제외하 고 2000～2004년만을 대상으로 추정한 결과에서도 외환보유액의 추정계수는 10% 수준에서 유의한 양의 값을 나타내었다.	1248	null	translation	Excluding the period after 2005, when there was a clear increase in foreign exchange reserves and short-term foreign debt, the estimated coefficient for foreign exchange reserves also showed a significant positive value at the 10% level in the estimation results covering only the years 2000 to 2004.	{}	{}
pos-2756	1	positive	translation_chunk_internal	1248	0	translation_chunk	Excluding the period after 2005, when there was a clear increase in foreign exchange reserves and short-term foreign debt, the estimated coefficient	1248	1	translation_chunk	for foreign exchange reserves also showed a significant positive value at the 10% level in the estimation results covering only the years 2000 to 2004.	{}	{}
pos-2757	1	positive	sentence_translation	1249	null	sentence	실물연계성 변수 이외 다른 변수들의 추정결과도 기본적으로 이전의 결과 동일하다.	1249	null	translation	The estimation results of other variables other than the real-world linkage variable are basically the same as the previous results.	{}	{}
pos-2758	1	positive	sentence_translation	1250	null	sentence	앞의 실증분석에서는 대미수출/총수출 비율을 대미 실물연계성 지표로 이용하였 는데, 동 비율이 무역연계성 측면에서 그 의미가 약할 수도 있다.	1250	null	translation	In the previous empirical analysis, the ratio of exports to the US/total exports was used as an indicator of physical connectivity with the United States, but this ratio may have weak meaning in terms of trade connectivity.	{}	{}
pos-2759	1	positive	translation_chunk_internal	1250	0	translation_chunk	In the previous empirical analysis, the ratio of exports to the US/total exports was used as an indicator of	1250	1	translation_chunk	physical connectivity with the United States, but this ratio may have weak meaning in terms of trade connectivity.	{}	{}
pos-2760	1	positive	sentence_translation	1251	null	sentence	추정결과를 살펴보면, 새로운 실물연계성 변수의 계수 역시 양수 로 추정되었으며 통계적 유의성이 높은 것을 알 수 있다.	1251	null	translation	Looking at the estimation results, we can see that the coefficient of the new real-world connectivity variable was also estimated to be positive and has high statistical significance.	{}	{}
pos-2761	1	positive	translation_chunk_internal	1251	0	translation_chunk	Looking at the estimation results, we can see that the coefficient of the new real-world	1251	1	translation_chunk	connectivity variable was also estimated to be positive and has high statistical significance.	{}	{}
pos-2762	1	positive	sentence_translation	1252	null	sentence	외국 투자자도 차입 금융기관의 건전성에 대한 엄밀한 평가를 소홀히 한 채 외화대출을 확대하는 위험추구 행태를 보일 가능성이 있다.	1252	null	translation	Foreign investors are also likely to show risk-seeking behavior by expanding foreign currency loans while neglecting a strict evaluation of the soundness of the borrowing financial institutions.	{}	{}
pos-2763	1	positive	translation_chunk_internal	1252	0	translation_chunk	Foreign investors are also likely to show risk-seeking behavior by expanding foreign currency loans	1252	1	translation_chunk	while neglecting a strict evaluation of the soundness of the borrowing financial institutions.	{}	{}
pos-2764	1	positive	sentence_translation	1253	null	sentence	외국자본의 급유출로 인한 외화유동성 위험이 낮아지므로 개별 경제주체들은 단기외채 도입을 확대한다.	1253	null	translation	As the risk of foreign currency liquidity caused by rapid outflow of foreign capital decreases, individual economic entities expand the introduction of short-term foreign debt.	{}	{}
pos-2765	1	positive	translation_chunk_internal	1253	0	translation_chunk	As the risk of foreign currency liquidity caused by rapid outflow of foreign capital	1253	1	translation_chunk	decreases, individual economic entities expand the introduction of short-term foreign debt.	{}	{}
pos-2766	1	positive	sentence_chunk_internal	1254	0	sentence_chunk	이러한 점에 착안하여 본고에서는 외환보유액의 확충이 실제로 단기외채 유입을 촉진하였는지 패널 회귀분석, 패널	1254	1	sentence_chunk	VAR 분석 등 다양한 실증분석 방법을 통해 검 증한 뒤 이를 바탕으로 외환보유정책에 대한 시사점을 논의하였다.	{}	{}
pos-2767	1	positive	sentence_translation	1254	null	sentence	이러한 점에 착안하여 본고에서는 외환보유액의 확충이 실제로 단기외채 유입을 촉진하였는지 패널 회귀분석, 패널 VAR 분석 등 다양한 실증분석 방법을 통해 검 증한 뒤 이를 바탕으로 외환보유정책에 대한 시사점을 논의하였다.	1254	null	translation	With this in mind, this paper verified through various empirical analysis methods, such as panel regression analysis and panel VAR analysis, whether the expansion of foreign exchange reserves actually promoted the inflow of short-term foreign debt, and discussed implications for foreign exchange reserve policy based on...	{}	{}
pos-2768	1	positive	translation_chunk_internal	1254	0	translation_chunk	With this in mind, this paper verified through various empirical analysis methods, such as panel regression	1254	1	translation_chunk	analysis and panel VAR analysis, whether the expansion of foreign exchange reserves actually promoted the	{}	{}
pos-2769	1	positive	translation_chunk_internal	1254	0	translation_chunk	With this in mind, this paper verified through various empirical analysis methods, such as panel regression	1254	2	translation_chunk	inflow of short-term foreign debt, and discussed implications for foreign exchange reserve policy based on this.	{}	{}
pos-2770	1	positive	translation_chunk_internal	1254	1	translation_chunk	analysis and panel VAR analysis, whether the expansion of foreign exchange reserves actually promoted the	1254	2	translation_chunk	inflow of short-term foreign debt, and discussed implications for foreign exchange reserve policy based on this.	{}	{}
pos-2771	1	positive	sentence_translation	1255	null	sentence	총 외채 대비 단기외채의 비중이 상승하여 외국자본 유입구조의 건전성이 악화되었다.	1255	null	translation	The ratio of short-term foreign debt to total foreign debt increased, worsening the soundness of the foreign capital inflow structure.	{}	{}
pos-2772	1	positive	sentence_translation	1256	null	sentence	패널다중회귀 모형과 패널 VAR 모형을 이용한 분석결과 외환보유액이 증가할 경우 단기외채 증가율이 확대되었다.	1256	null	translation	As a result of analysis using the panel multiple regression model and panel VAR model, the growth rate of short-term foreign debt increased when foreign exchange reserves increased.	{}	{}
pos-2773	1	positive	translation_chunk_internal	1256	0	translation_chunk	As a result of analysis using the panel multiple regression model and panel VAR model, the	1256	1	translation_chunk	growth rate of short-term foreign debt increased when foreign exchange reserves increased.	{}	{}
pos-2774	1	positive	sentence_translation	1257	null	sentence	실제 추정에서는 외환보유액, 경제성장 률, 환율절상률, TED 스프레드의 네 가지 변수가 설명변수로 포함된 모형을 기본으로 하였다.	1257	null	translation	The actual estimation was based on a model that included four variables as explanatory variables: foreign exchange reserves, economic growth rate, exchange rate appreciation rate, and TED spread.	{}	{}
pos-2775	1	positive	translation_chunk_internal	1257	0	translation_chunk	The actual estimation was based on a model that included four variables as explanatory variables:	1257	1	translation_chunk	foreign exchange reserves, economic growth rate, exchange rate appreciation rate, and TED spread.	{}	{}
pos-2776	1	positive	sentence_translation	1258	null	sentence	한편 단기외채 비중의 경우에는 종속변수 전기항의 설명력이 매우 높았는데 이 경우 고정효과 방식으로는 일치추정량을 얻 을 수 없다.	1258	null	translation	Meanwhile, in the case of the proportion of short-term foreign debt, the explanatory power of the preceding term of the dependent variable was very high, and in this case, a consistent estimate cannot be obtained with a fixed effect method.	{}	{}
pos-2777	1	positive	translation_chunk_internal	1258	0	translation_chunk	Meanwhile, in the case of the proportion of short-term foreign debt, the explanatory power of the preceding term of the	1258	1	translation_chunk	dependent variable was very high, and in this case, a consistent estimate cannot be obtained with a fixed effect method.	{}	{}
pos-2778	1	positive	sentence_translation	1259	null	sentence	이때, 공통충격은 글로벌 주식시장 충격, 지역 주 식시장 충격으로 구성된다.	1259	null	translation	At this time, the common shock consists of global stock market shock and regional stock market shock.	{}	{}
pos-2779	1	positive	sentence_chunk_internal	1260	0	sentence_chunk	즉 각 충격이 차지하는 비율을 국가별로 분석함으로써 동아시아 국가들의 주식시 장 변동요인이	1260	1	sentence_chunk	동아시아 주요국들의 공통적인 현상인지, 개별국가의 고유한 현상 인지를 판단한다.	{}	{}
pos-2780	1	positive	sentence_translation	1260	null	sentence	즉 각 충격이 차지하는 비율을 국가별로 분석함으로써 동아시아 국가들의 주식시 장 변동요인이 동아시아 주요국들의 공통적인 현상인지, 개별국가의 고유한 현상 인지를 판단한다.	1260	null	translation	In other words, by analyzing the proportion of each shock by country, it is determined whether the factors causing stock market fluctuations in East Asian countries are common phenomena in major East Asian countries or unique to individual countries.	{}	{}
pos-2781	1	positive	translation_chunk_internal	1260	0	translation_chunk	In other words, by analyzing the proportion of each shock by country, it is determined whether the factors causing stock market	1260	1	translation_chunk	fluctuations in East Asian countries are common phenomena in major East Asian countries or unique to individual countries.	{}	{}
pos-2782	1	positive	sentence_chunk_internal	1261	0	sentence_chunk	여타 변수의 충격반응을 살펴보면 우선 외환보유액 증가시 성장률이 높아지는 것 으로 분석되었는데 이는 외환보유	1261	1	sentence_chunk	규모가 늘어날 경우 경제위기를 예방하고 경상수 지가 개선되는 등의 경로를 통해 나타나는 것으로 해석된다.	{}	{}
pos-2783	1	positive	sentence_translation	1261	null	sentence	여타 변수의 충격반응을 살펴보면 우선 외환보유액 증가시 성장률이 높아지는 것 으로 분석되었는데 이는 외환보유 규모가 늘어날 경우 경제위기를 예방하고 경상수 지가 개선되는 등의 경로를 통해 나타나는 것으로 해석된다.	1261	null	translation	Looking at the shock response of other variables, it was analyzed that the growth rate increases as foreign exchange reserves increase, and this is interpreted to occur through channels such as preventing an economic crisis and improving the current account balance when the size of foreign exchange reserves increases.	{}	{}
pos-2784	1	positive	translation_chunk_internal	1261	0	translation_chunk	Looking at the shock response of other variables, it was analyzed that the growth rate increases as foreign exchange reserves increase, and this is interpreted	1261	1	translation_chunk	to occur through channels such as preventing an economic crisis and improving the current account balance when the size of foreign exchange reserves increases.	{}	{}
pos-2785	1	positive	sentence_translation	1262	null	sentence	충격의 식별은 순차적 방식을 적용하였으며 변수의 순서는 경제 성장률, 단기외채, 외환보유액으로 하였다.	1262	null	translation	A sequential method was applied to identify shocks, and the order of variables was economic growth rate, short-term foreign debt, and foreign exchange reserves.	{}	{}
pos-2786	1	positive	translation_chunk_internal	1262	0	translation_chunk	A sequential method was applied to identify shocks, and the order of variables	1262	1	translation_chunk	was economic growth rate, short-term foreign debt, and foreign exchange reserves.	{}	{}
pos-2787	1	positive	sentence_translation	1263	null	sentence	통제변수로는 경제성장률이 높아질수록 단기외채 비중이 높아지는 관계가 대부분 의 모형에서 유의성이 높게 나타났다.	1263	null	translation	As a control variable, the relationship that the proportion of short-term foreign debt increases as the economic growth rate increases was highly significant in most models.	{}	{}
pos-2788	1	positive	translation_chunk_internal	1263	0	translation_chunk	As a control variable, the relationship that the proportion of short-term foreign debt	1263	1	translation_chunk	increases as the economic growth rate increases was highly significant in most models.	{}	{}
pos-2789	1	positive	sentence_translation	1264	null	sentence	유럽 지역의 경우를 살펴보면, 1989년 독일의 통일로 인한 재정확대의 영향은 유럽 지역 에만 한정하여 영향을 주었다.	1264	null	translation	Looking at the case of the European region, the impact of fiscal expansion resulting from German unification in 1989 was limited to the European region.	{}	{}
pos-2790	1	positive	sentence_translation	1265	null	sentence	이 때, SVAR 모형의 추정 모수가 축약형 VAR 모형에 비하여 많기 때문에 모수에 대 한 직․간접적인 식별 제약이 필요하다.	1265	null	translation	At this time, because the estimated parameters of the SVAR model are greater than those of the abbreviated VAR model, direct and indirect identification restrictions on the parameters are necessary.	{}	{}
pos-2791	1	positive	translation_chunk_internal	1265	0	translation_chunk	At this time, because the estimated parameters of the SVAR model are greater than those of the	1265	1	translation_chunk	abbreviated VAR model, direct and indirect identification restrictions on the parameters are necessary.	{}	{}
pos-2792	1	positive	sentence_chunk_internal	1266	0	sentence_chunk	외환보유액과 단기외채 증가율 사이의 관계를 산포도를 통해 개략적으로 살펴보면 GDP 대비 가용외환보유액 및 단기외채	1266	1	sentence_chunk	대비 외환보유액 모두 단기외채 증가율과 양의 관계를 나타내었으며 이 관계는 10% 수준에서 통계적으로 유의하였다.	{}	{}
pos-2793	1	positive	sentence_translation	1266	null	sentence	외환보유액과 단기외채 증가율 사이의 관계를 산포도를 통해 개략적으로 살펴보면 GDP 대비 가용외환보유액 및 단기외채 대비 외환보유액 모두 단기외채 증가율과 양의 관계를 나타내었으며 이 관계는 10% 수준에서 통계적으로 유의하였다.	1266	null	translation	When looking at the relationship between foreign exchange reserves and the growth rate of short-term foreign debt roughly through a scatter plot, both available foreign exchange reserves relative to GDP and foreign exchange reserves relative to short-term foreign debt showed a positive relationship with the growth rate...	{}	{}
pos-2794	1	positive	translation_chunk_internal	1266	0	translation_chunk	When looking at the relationship between foreign exchange reserves and the growth rate of short-term foreign debt roughly through a scatter	1266	1	translation_chunk	plot, both available foreign exchange reserves relative to GDP and foreign exchange reserves relative to short-term foreign debt showed a	{}	{}
pos-2795	1	positive	translation_chunk_internal	1266	0	translation_chunk	When looking at the relationship between foreign exchange reserves and the growth rate of short-term foreign debt roughly through a scatter	1266	2	translation_chunk	positive relationship with the growth rate of short-term foreign debt, and this relationship was statistically significant at the 10% level.	{}	{}
pos-2796	1	positive	translation_chunk_internal	1266	1	translation_chunk	plot, both available foreign exchange reserves relative to GDP and foreign exchange reserves relative to short-term foreign debt showed a	1266	2	translation_chunk	positive relationship with the growth rate of short-term foreign debt, and this relationship was statistically significant at the 10% level.	{}	{}
pos-2797	1	positive	sentence_translation	1267	null	sentence	이 장에서는 외환보유액과 단기외채의 관계를 국가패널자료를 이용하여 분석하 였다.	1267	null	translation	In this chapter, an analysis of the relationship between foreign exchange reserves and short-term external debt was conducted using national panel data.	{}	{}
pos-2798	1	positive	sentence_chunk_internal	1268	0	sentence_chunk	총 외채대비 단기외채의 비중 또한 외환보유액과 양의 관계를 보였으며 동 관계 는 단기외채 대비 외환보유액 기준으로는	1268	1	sentence_chunk	유의성이 다소 낮았지만 GDP 대비 가용 외환보유액 기준의 경우에는 10% 수준에서 통계적으로 유의하였다.	{}	{}
pos-2799	1	positive	sentence_translation	1268	null	sentence	총 외채대비 단기외채의 비중 또한 외환보유액과 양의 관계를 보였으며 동 관계 는 단기외채 대비 외환보유액 기준으로는 유의성이 다소 낮았지만 GDP 대비 가용 외환보유액 기준의 경우에는 10% 수준에서 통계적으로 유의하였다.	1268	null	translation	The ratio of short-term foreign debt to total foreign debt also showed a positive relationship with foreign exchange reserves, and this relationship had somewhat low significance based on foreign exchange reserves compared to short-term foreign debt, but was statistically significant at the 10% level in the case of ava...	{}	{}

Subsets and Splits

No community queries yet

The top public SQL queries from the community will appear here once available.