RESEARCH
Policy Analyses
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Effect of China's Entry on WTO and China-Korea Economic Cooperation
This paper focuses on how China's entry to the WTO has affected China-Korea economic cooperation and takes its countermeasure. Although China had an opportunity to join GATT succeeding former treaty powers after Taiwan's withdrawa..
Ick-Soo Kim Date 1995.12.30
Economic OpeningDownloadContentSummaryThis paper focuses on how China's entry to the WTO has affected China-Korea economic cooperation and takes its countermeasure.
Although China had an opportunity to join GATT succeeding former treaty powers after Taiwan's withdrawal in 1950, China only declared its intention to join the WTO in 1986.
Negotiations on admission to GATT were suspended after the events at Tiananmen Square in 1989, but they took a favorable turn after China and the U.S. signed a memorandum of understanding on pursuing market economics and intellectual property rights in 1992.
However, disputes arose over the China-U.S. trade balance and former Taiwanese President Lee Teng-Hui's visit to the United States in 1995, delaying China's admission to the WTO.
Nevertheless, given the following factors, negotiations on China's entry on the WTO will progress rapidly according to the development of China-U.S. relations: 1) China has acquired a position as a WTO observer; 2) China has the 11th-largest trade ($240 billion); and 3) the political situation between China and the United States can change rapidly.
It is only a matter of time before China joins the WTO in consideration of its high growth and improved position. -
Effect of Tariff Reduction on Offshore-Processed Imports
This paper aims to analyzing how tariff reductions on offshore-processed imports affect the Korean economy. This system exempts domestically produced parts from customs duty and levies value-added tax on raw materials levies when ..
June-Dong Kim et al. Date 1995.12.30
DownloadContentSummaryThis paper aims to analyzing how tariff reductions on offshore-processed imports affect the Korean economy. This system exempts domestically produced parts from customs duty and levies value-added tax on raw materials levies when they are imported after processing offshore. Most developed economies, including the U.S., Japan, EU and Canada, have already implemented such a system.
This study also analyzed the effects of overseas direct lowered production cost due to the economic effects of tariff reduction. The results reveal that overseas direct investment in the metalworking, machinery, chemistry and textile industry will be beneficial. -
Linking Trade and Environmental Issues
The objective of linking trade and environmental issues is to strike harmony between the liberalization of trade and preservation of the environment. Based on this, the WTO has a committee on trade and environment and has been dis..
Ho-Saeng Rhee Date 1995.12.29
Free Trade, Environmental PolicyDownloadContentSummaryThe objective of linking trade and environmental issues is to strike harmony between the liberalization of trade and preservation of the environment. Based on this, the WTO has a committee on trade and environment and has been discussions its agenda.
This paper inquires into the possibility of WTO joining Multilateral Environmental Agreements and environmental labeling standards such as those for non-product related process and production methods.
The Rio Earth Charter and Agenda 21 reached an agreement linking trade and environment issues, and in the WTO, discussions based on international agreements are going to progress further.
However, although each nation agrees to the proposition, there are differences in each standpoint in realizing the proposition according to environmental and economic conditions. -
OECD Code for Foreign Direct Investment and Korea's Foreign direct Investment Laws and Regulations
With foreign direct investment having increased since the 1980s, the Multilateral Agreement on Investment has become a main issue for discussion in the Uruguay Round agreement.However, since the WTO was formed in 1995, a multilate..
Yunjong Wang Date 1995.12.26
Foreign Investment, Overseas Direct InvestmentDownloadContentSummaryWith foreign direct investment having increased since the 1980s, the Multilateral Agreement on Investment has become a main issue for discussion in the Uruguay Round agreement.
However, since the WTO was formed in 1995, a multilateral approach to investment is not likely to see progress at the UR level, with many issues still unaddressed in these negotiations.
Although developing nations have achieved substantial liberalization of direct investment, they still have several institutional barriers to FDI that differ greatly from developed countries. Consequently, it will not be until these differences are resolved that discussions on a multilateral agreement on investment will make substantial progress.
Established to promote the sustainable development of member nations in 1961, the Organization for Economic Cooperation and Development formulated and operated codes to promote the smooth movement of capital for the efficient distribution of resources. The OECD is expected to strengthen and explore multilateral agreements on investment, following the lead of advanced nations. -
Japaneses FDI in the United States: Trends and Implications
Japan's economy has been in recession from the early half of 1990s. This depressed situation of Japanese economy had adverse effects on Japanese overseas direct investment. For example, Japanese overseas direct investment increase..
Kwanho Kim Date 1995.12.18
Overseas Direct InvestmentDownloadContentSummaryJapan's economy has been in recession from the early half of 1990s. This depressed situation of Japanese economy had adverse effects on Japanese overseas direct investment. For example, Japanese overseas direct investment increased rapidly in the last half of 1980s, but it decreased significantly during 1990s.
The purpose of this paper is to examine the trends of Japanese's FDI in the United States, by providing some suggestions to Korea's future foreign direct investment policy.
This paper is organized as follows: Chapter I will explain the purpose of this paper. Chapter II will give analysis on the trends, problems and strategy of Japanese overseas direct investment by period. Chapter III will analyze the trends of Japanese's FDI in the United States. Chapter IV will look into the modernization of Japanese overseas direct investment in 1990s from various perspectives. Finally, Chapter V will evaluate Japanese's FDI in the United States by presenting Korea's future foreign direct investment policy. -
1996 World Economic outlook and Korea's International Economic Policies
Co-authors Date 1995.12.15
Economic Development, Economic Outlook -
Issues in Capital Account Liberalization in Asian Developing Countries
This paper discusses problems often faced by a country in the process toward a more open capital account and the policy responses to these problems. In the following sections, we begin to discuss the issues accompanied by a capita..
JaeJung Kwon Date 1995.12.01
Financial LiberalizationDownloadContentContents
1. Introduction
2. Capital Account Liberalization and Capital Flows in Asian Developing Countries
2.1. Liberalization Process
2.2. Trends of Capital Flows
2.3. Other Causes for Increased Capital Movement in Asian Developing Countries
2.4. Internal / External Pressure toward Capital Account Liberalization
3. Issues of Transition
3.1. Speed and Sequencing
3.2. Macroeconomic Issues
3.3. Microeconomic Issues
4. Policy Mix
5. Conclusions
〈Appendix〉 Current Regulations on Capital Account
References
SummaryThis paper discusses problems often faced by a country in the process toward a more open capital account and the policy responses to these problems. In the following sections, we begin to discuss the issues accompanied by a capital account liberalization. The discussion in each section is followed by the actual episodes of capital account liberalization which focus on six Asian developing countries : Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand. Reviewing the kinds of problems these countries have been facing and the governments' responses to the problems, we will discuss the prospects on the financial opening of developing countries including other Asian developing countries. -
The Promotion of Economic Cooperation between Korea and Eastern
Gye-Pan Kim Date 1995.12.01
Economic Cooperation -
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DownloadContentShort-term Prospects of the World EconomyEconomic Potential of ChinaPrerequisites for the Economic DevelopmentWTO and Korea’s EconomyWTO and International Economic RelationsGlobal Problems Related to Economic GrowthRegionalism in the World EconomyConditions for Korea’s UnificationPolicy Issues for Korea’s UnificationSummary