This paper evaluates the impact of demographic change on the economic growth of OECD and non-OECD countries. An annual panel dataset of 71 countries, consisting of 27 advanced economies and 44 emerging economies over the period of 1981–2014, is used. Two types of regression models (panel regression model and panel continuous threshold model) including several demographic variables are used to investigate the effects of demographic structure. The results of this study show the significant difference of the impact of demographic transition on the economic growth of OECD and non-OECD economies.

Owing to the country’s heavy reliance on exports, the role of foreign exchange intervention in South Korea’s economic development is self-evident. The effectiveness of the intervention is what we are concerned with in this paper. Recently, a growing body of literature has engaged in exploring the asymmetric effects of foreign exchange intervention both theoretically and empirically. Against this background, we employ a threshold vector autoregression (TVAR) model in parallel with its generalized impulse response functions (GIRFs) to show that there are asymmetric effects of the Bank of Korea (BOK)-led interventions regardless of the volatility regimes.

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