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Policy Analyses

RESEARCH

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  • Korea’s Recent Foreign Exchange Rate System
    Korea's Recent Foreign Exchange Rate System

    The initial goal of the paper was to evaluate the working of the MAR system which was adopted in Korea in March 1990. However, since the system is only two years and several months old, no credible macroeconomic empirical test cou..

    Jin Chun Kim Date 1992.12.30

    Exchange Rate
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    The initial goal of the paper was to evaluate the working of the MAR system which was adopted in Korea in March 1990. However, since the system is only two years and several months old, no credible macroeconomic empirical test could be accomplished due to the lack of data. It was also necessary to review the history of Korea's foreign exchange rate system in order to shed light on the background and rationale of the MAR system. Therefore, instead of only investigating the functioning of the MAR system, this paper reviewed the whole history of the foreign exchange rate system and evaluated the MCBP system which was adopted for the period of March 1980 through February 1990. This system is important in understanding the MAR system since it was the first effort made in Korea in the direction of a market-oriented foreign exchange rate system. This paper also reviewed Taiwan's central exchange rate system since it was the system that Korea followed in the name of the MAR system.
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  • 동북아 경제협력의 여건과 전망
    Conditions and Prospects of Economic Cooperation in Northeast Asia

    This paper predicts that with political and military conflict settled and barriers to trade and investment lowered, trade with Northeast Asia nations will increase. The linear free trade area theory used in this paper illustrates ..

    Co-authors Date 1992.12.01

    Economic Cooperation
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    This paper predicts that with political and military conflict settled and barriers to trade and investment lowered, trade with Northeast Asia nations will increase. The linear free trade area theory used in this paper illustrates conditions and prospects of economic cooperation in Northeast Asia.
    The liberalization of transactions of production factors and intermediates facilitated by a free trade area would contribute to the development of industry and resources for developing nations, accelerate the high growth of industry and secure resources procurement and markets for capital goods from developed economies.
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  • 일본의 산업 및 무역구조의 변화와 전망
    Prospects for Japan's Industrial and Trade Structure

    Recently, Japan has promoted its import policy with Korea to lower the surplus of international payments and settle severe foreign trade disputes. Therefore, industrial imports are rising sharply, accounting for $1.061 trillion, m..

    Chang Nam Kim Date 1992.10.30

    Trade Structure, Industrial Structure
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    Recently, Japan has promoted its import policy with Korea to lower the surplus of international payments and settle severe foreign trade disputes. Therefore, industrial imports are rising sharply, accounting for $1.061 trillion, more than 50 percent of total number of import. This report reveals that according to the report released by the department of Japanese trade, the substantial proportion of product imports has a great influence on adverse imports from Japanese field companies through overseas direct investment, accounting for $429 billion, 95 percent, in 1986 to 1990.

    Accordingly, Japan still maintains the current structure of import-led primary products to export-led manufactures. In other words, Japanese development has been fueled by trade with foreign companies rather than progressing overseas Japanese corporations.

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