Sung Y. Park

BA, MA, MS, PhD

Economic Statistics, Econometrics, Economic Mathematics, Time-series Econometrics. 

Econometric Theory and Applications, Financial Econometrics, Empirical Finance, Machine Learning and Big Data and Energy Economics.

• Do Gender and Age Matter Time-varying Okun’s Law?: Evidence from South Korea (with Myeong Jun Kim), Forthcoming, Pacific Economic Review, 2019.
• Information Theoretic Approaches to Income Density Estimation with an Application on the U.S. Income Data (with Anil Bera), Forthcoming, Journal of Economic Inequality, 2018.
• Generalized Empirical Likelihood Specification Test Robust to Local Misspecification (with Haiqi Li and Rui Fan), 2018, Economics Letters, 171, 149-153.
• Time-varying Investor Herding in Chinese Stock Markets (with Haiqi Li and Ying Liu), Forthcoming, International Review of Finance, 2017.
• Empirical Conditional Quantile Test for Purchasing Power Parity: Evidence from East Asian Countries (with Wei Ma and Haiqi Li), 2017, International Review of Economics and Finance, 49, 211-222.
• Asymmetric Relationship between Investors’ Sentiment and Stock Returns: Evidence from a Quantile Non-Causality Test (with Haiqi Li and Yu Guo), Forthcoming, International Review of Finance, 2017.
• Oil Prices and Stock Markets: Does the Effect of Uncertainty Change over Time? (with Young C. Joo), 2017, Energy Economics, 61, 42-51.
• Crude Oil and Stock Markets: Causal Relationships in Tails? (with Haoyuan Ding and Hyung-Gun Kim), 2016, Energy Economics, 59, 58-69.
• Optimal Conditional Hedge Ratio: A Simple Shrinkage Estimation Approach (with Myeong Jun Kim), 2016, Journal of Empirical Finance, 38, 139-156.
• Nonlinear Relationship between Crude Oil Price and Net Futures Positions: A Dynamic Conditional Distribution Approach (with Haiqi Li and Myeong Jun Kim), 2016, International Review of Financial Analysis, 44, 217-225.
• Testing for a Unit Root in a Nonlinear Quantile Autoregression Framework (with Haiqi Li), Forthcoming, Econometric Reviews, 2016.
• Estimation and Hedging Effectiveness of Time-Varying Hedge Ratio: Nonparametric Approaches (with Rui Fan and Haiqi Li), 2016, Journal of Futures Markets, 36(10), 968-991.
• Generalized Cross-spectral Test for Nonlinear Granger Causality with Applications to Money-Output and Price-Volume Relations (with Haiqi Li and Wanling Zhong), 2016, Economic Modelling, 52, 661-671.
• The Role of Financial Speculation in the Energy Future Markets: A New Time Varying Coefficient Approach (with Haiqi Li and Hyung-Gun Kim), 2015, Economic Modelling, 51, 112-122.
• FDI Outflow, Gravity Theory and Pollution Haven Hypothesis: Evidence from Korea Manufacturing Industry (with ChungAh Kim and Min Kyung Song), 2015, Journal of Korea Trade, 19(3), 79-97.
• Asymmetric Laplace Regression: Maximum Likelihood, Maximum Entropy and Quantile Regression (with Anil Bera, Antonio Galvao and Gabriel Montes-Rojas), 2016, Journal of Econometric Methods, 5(1), 79-101.
• An Empirical Test for Okun’s Law using a Smooth Time-Varying Parameter Approach: Evidence from East Asian Countries (with Myeong Jun Kim and S.Jei), 2015, Applied Economics Letters, 22(10), 788-795.
• Determinants of Housing Prices in Hong Kong: A Box-Cox Quantile Regression Approach (with Hyung-Gun Kim and Kwong-Chin Hung), 2015, Journal of Real Estate Finance and Economics, 50, 270-287.
• Nonlinear Dependence between Stock and Real Estate Markets in China (with Terence Chong and Haoyuan Ding), 2014, Economics Letters, 124, 526-529.
• Do Net Positions in the Futures Market Cause Spot Prices of Crude Oil? (with Haoyuan Ding and Hyung-Gun Kim), 2014, Economic Modelling, 41, 177-190.
• A Simple Spatial Dependence Test Robust to Local and Distributional Misspecifications (with Ying Fang and Jinfeng Zhang), 2014, Economics Letters, 124, 203-206.
• Multivariate Density Forecast Evaluation: A Modified Approach (with Stanley Ko), 2013, International Journal of Forecasting, 29, 431-441.
• Quantile Autoregressive Distributed Lag Model with an Application to Housing Price Returns (with Antonio Galvao and Gabriel Montes-Rojas), 2013, Oxford Bulletin of Economics and Statistics, 75, 307-321.
• Resource Abundance and Economic Growth in China (with Rui Fan and Ying Fang), 2012, China Economic Review, 23, 704-719.
• Money Demand in China and Time-Varying Cointegration (with Haomiao Zuo), 2011, China Economic Review, 22, 330-343.
• An Estimation of U.S. Gasoline Demand : A Smooth Time-Varying Cointegration Approach (with Guochang Zhao), 2010, Energy Economics, 32, 110-120.
• The Determinant of Volatility on International Tourism Demand: An Empirical Note (with S. Jei), 2010, Applied Economics Letters, 17, 217-223.
• Estimation and Hedging Effectiveness of Time-Varying Hedge Ratio: Flexible Bivariate GARCH Approaches (with S. Jei), 2010, Journal of Futures Markets, 30, 71-99.
• Maximum Entropy Autoregressive Conditional Heteroskedasticity Model (with Anil Bera), 2009, Journal of Econometrics, 150, 219-230.
• Optimal Portfolio Diversification Using Maximum Entropy Principle (with Anil Bera), 2008, Econometric Reviews, 27, 484-512.
• Dynamic Conditional Relationships between Developed and Emerging Markets (with Wonho Song and Doojin Ryu), Forthcoming, Physica A, 2018.
• The Dynamic Conditional Relationship between Stock Market Returns and Implied Volatility (with Doojin Ryu and Jeongseok Song), 2017, Physica A, 482, 638-648.
• Tourism Development and Economic Growth in Korea: Causal Relationship in Tails (with Sang-Hyuck Kim), Forthcoming, Tourism Analysis, 2016.
• Determinants of Systematic Risk in the U.S. Restaurant Industry: A Technical Note (with Sang-Hyuck Kim), 2016, Tourism Economics, 22(3), 621-628.
• A New Robust ARCH Test and YJ-GARCH Model (with Haiqi Li), 2011, Statistical Research, 29, 104-109.
• Quantile Elasticity of International Tourism Demand for South Korea using the Quantile Autoregressive Distributed Lag Model (with Haiqi Li amd J. Seo), 2011, Tourism Economics, 17, 997-1015.
• Interrelationships among Korean Outbound Tourism Demand: Granger Causality Analysis (with J. Seo and S. Boo), 2010, Tourism Economics, 13, 597-610.
• The Analysis of the Relationships of Korean Outbound Tourism Demands: Jeju Island and Three International Destinations (with J. Seo and Larry Yu), 2009, Tourism Management, 30, 530-543.

• 8 PhD students: All of them are currently in academia as assistant, associate and full professors.
• 14 Master students: 10 further study, 3 financial industry, 1 research institute.

• Distinguished Scholar in Chung-Ang University (Da Vinci Class), Chung-Ang University, 2018-2019.
• Best Research Award, Chung-Ang University, 2018. 
• Best Teaching Award, Economic Forecasting Course, Chinese University of Hong Kong, 2012.
• Best Paper Award, Panagora Asset Management, 2008. 
• Conference Travel Grant Award, Department of Economics, UIUC. Sep. 2005; Oct. 2005; Oct. 2006.
• Graduate College Conference Travel Grant Award, UIUC. Oct. 2003; Sep. 2004; Oct. 2005; Oct. 2006.
• Information and Entropy Econometrics (IEE) Conference Grant Award, American University. Sep. 2005.
• List of Teaching Assistant rated as Excellent, UIUC. Spring 2004, Fall 2004, Spring 2005; Fall 2006.
• Hans Brems Best Research Paper Award (honorable mention), Department of Economics, UIUC, May 2005.
• Hans Brems Best Research Paper Award, Department of Economics, UIUC, May 2003.
• Best Paper Award, 79th Annivarsary of Chung-Ang Univeristy Foundation, Chung-Ang University, May 1997

Consultant: KEPO, Financial Firms and many others.

• September 2019 – Present: Associate Professor in Finance, RMIT, South Saigon campus, Vietnam. 
• September 2013 – August 2019: Associate Professor in Economics, Chung-Ang University, Seoul, Korea. 
• August 2010 – August 2013: Assistant Professor in Economics, Chinese University of Hong Kong, Hong Kong SAR, China.
• August 2009 – July 2010: Visiting Assistant Professor in Economics, University of Illinois at Urbana-Champaign, USA.
  
• August 2007 – August 2009: Assistant Professor in Economics, Wang Yanan Institute of Studies in Economics (WISE), Xiamen University, Xiamen, China.