RESEARCH
Working Papers
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The Structural Changes of International Finance Markets and the Implications
This paper examines the internal and external structural changes observed in international finance markets and their implications for international economic trends.The internal and external financial environment has recently under..
Cheong-Gu Cho Date 1996.12.28
Financial LiberalizationDownloadContentSummaryThis paper examines the internal and external structural changes observed in international finance markets and their implications for international economic trends.
The internal and external financial environment has recently undergone rapid changes. First, in terms of the external financial environment, globalization has deepened through financial liberalization and advances in information and communication technology. Financial globalization has also been accelerated by the conversion of deposits into securities, facilitated by the deregulation of financial institutions and the strengthening regulations on equity-owned capital.
These changes resulted in sharp declines in asset value, a dramatic fluctuation in exchange rates, currency and foreign debt crises in emerging countries and financial casualties in advanced and emerging countries.
Accordingly, financial supervisory bodies in major developed countries, including the Bank for International Settlements, are trying to protect investors by guaranteeing sound commercial banking and build an international cooperative system to promote stability and international standards.
Second, domestic financial conditions have also changed. The Korean government has pursued a series of financial liberalization measures including introducing a floating exchange rate in 1990 and reforming the foreign exchange rate system to raise the effectiveness of financial management and increase the competitiveness of the finance industry. -
A Study on the Anti-dumping Measures of 3 Countries(United States, Canada and Korea) on Non-market Economies: the Case of China
This paper examines price in non-market economies, in particular, price in China, which is not decided following the principles of supply and demand, reflecting the scarcity of value. At the beginning of price reform, China faced ..
Wan-Sun Kim et al. Date 1996.12.28
Anti-Dumping SystemDownloadContentSummaryThis paper examines price in non-market economies, in particular, price in China, which is not decided following the principles of supply and demand, reflecting the scarcity of value.
At the beginning of price reform, China faced criticism over its price policy, but the central government neither adopted a single price policy nor deregulated it.
China's price reform policy of 1979 followed a two-tier price system: both administrative and market price. Price liberalization began when the two-tier price system was initiated. A quota of goods produced on farms and at government-owned enterprises was bought at the administrative price while other producers were able to sell market price. This two-tier price policy contributed to increasing the price efficiency toward actual output. -
An Analysis of Privatization of Public Enterprises in Mexico
Hyung-Soo Kim Date 1996.12.26
Economic Reform -
Results of Russia's two Major Elections and the Policy Implications
Pyoung-Hee Choi Date 1996.12.26
Political Economy -
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A Study on the Current Economic & Social Status of Russia's Economic Regions
Young-Joo Chung Date 1996.12.20
Economic Development -
Current Supply and Demand for Food in China
Soo-Woong Choi Date 1996.12.20
Economic Outlook, Agricultural Policy -
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Localization Policy of Intermediate Goods Under the New International Trade Rules
The localization of intermediate goods is essentially a means of import substitution for industries that are promoted by under-developed and developing countries to strengthen their competitiveness in the world economy and build e..
Tae-Hyung Kim Date 1996.12.19
Industrial PolicyDownloadContentSummaryThe localization of intermediate goods is essentially a means of import substitution for industries that are promoted by under-developed and developing countries to strengthen their competitiveness in the world economy and build economical independence.
Adjusting their strategy due to the industrialization of their production structures since 1960, developing countries are beginning to actively pursue oversea-oriented export promotion rather than import substitution.
With an abundant labor force but a shortage of technology and resources, underdeveloped and developing countries were dependent on importing capital and intermediate goods such as capital and technology-intensive machinery to enlarge their production facilities.
To this end, trade loss was accelerated and a heavy burden was imposed on their economy.
In this context, developing countries are interested in promoting capital and technology-intensive industry such as the heavy and chemical industry, for example electronics, automobile, machinery and equipment. -