RESEARCH
Proceedings
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Economic Cooperation of South Korea, North Korea and China: Possibility and Problems
The Korea Institute for International Economic Policy (KIEP) organized an international conference on 'Economic Cooperation of South Korea, North Korea and China: Possibility and Problems' in collaboration with Chinese academy of ..
Myung Chul Cho ed. Date 2002.12.30
Economic IntegrationDownloadContentSummaryThe Korea Institute for International Economic Policy (KIEP) organized an international conference on 'Economic Cooperation of South Korea, North Korea and China: Possibility and Problems' in collaboration with Chinese academy of social science and Liaonig academy of social science.
The purpose of this conference was to analyze problems in economic cooperation between South Korea, North Korea and China and identify the possibility of economic cooperation. In addition, it determines modalities and the discussions that eventually will develop a consensus on economic cooperation.
These proceedings are a collection of the lectures, papers and formal comments made by speakers and discussants. -
Changes in Industrial Interdependency between Japan and Korea since 1985 -An Application of International Input-Output Analysis-
Based on an analysis of the International Input-Output Table Japan-Korea (1985, 1990) and the Asian International Input-Output Table (1995), this paper focuses on changes in the industrial interdependence between Korea and Japan a..
HongBae Lee Date 2002.12.30
Industrial StructureDownloadContentExecutive Summary
I. Introduction
II. Statistical Background for Empirical Analysis
III. Changes in Industrial Linkage between Japan and Korea
1. Analytical Framework
2. Results of Empirical Analysis
IV. Changes and Comparison of International Technological Specialization between Japan and Korea
1. Analytical Framework
2. Results of Empirical Analysis
V. Concluding Remarks
References
AppendixSummaryBased on an analysis of the International Input-Output Table Japan-Korea (1985, 1990) and the Asian International Input-Output Table (1995), this paper focuses on changes in the industrial interdependence between Korea and Japan after the Plaza Accord, an agreement which triggered a drastic appreciation of the yen. Considering the industrial structures of the two countries and the structure of the trade between them, special attention was paid to the manufacturing sectors, which were analyzed on the basis of a more detailed industrial classification than the other sectors. In particular, we measured the international technological specialization (ITS) index between Korea and Japan, which provided a foundation for studying the structure of Koreas heavy dependence on Japan-made intermediate inputs. The ITS index shows the amount of intermediate goods certain industries in two countries import from each other, and serves as a good indicator of a country's dependency on imports for intermediate inputs. (The rest is omitted.) -
The Capital Market Development in Vietnam
This report is intended to be a comprehensive understanding for building the strategic positioning and future direction of the Vietnamese capital market. (The rest is omitted.)
Daekeun Park et al. Date 2002.12.30
Capital MarketDownloadContentSummaryThis report is intended to be a comprehensive understanding for building the strategic positioning and future direction of the Vietnamese capital market. (The rest is omitted.) -
An Assessment of Japan's Import Promotion Polices
Japan has been experiencing a rise in imports recently and the trend is likely to continue unless there are change in Japan's current internal and external conditions. Internal factors include a high yen, the prolonged sluggishnes..
Eun-Ji Kim Date 2002.12.30
Trade PolicyDownloadContentSummaryJapan has been experiencing a rise in imports recently and the trend is likely to continue unless there are change in Japan's current internal and external conditions. Internal factors include a high yen, the prolonged sluggishness of the economy and deepening competition among domestic corporations. The following are among the external factors: cheaper imports, which are preferred by Japanese consumers in light of the extended recession; reverse imports stemming from th foreign direct investment of Japanese corporations and intensifying price wars among manufactures manufacturers. In addition to such growing demand for imports, Japanese corporations increasingly forming interdependent relations with countries in East Asia. Considering these points, Japan's economic recession provides East Asian countries with the opportunity to make inroads into Japan. (The rest is omitted.) -
Patterns of Japanese Direct Investment Abroad in 1990s
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..
Hoon Chung Date 2002.12.30
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 rest is omitted.) -
Cuban Lessons for North Korean Economic Reform
Cuban Lessons for North Korean Economic ReformKim Yeonchul(Korea University, Asiatic Research center, research Professor)The North Korean new economic strategies that began in July 2002 showed the limits of partial measures. The d..
Yeonchul Kim Date 2002.12.30
Environmental PolicyDownloadContentSummaryCuban Lessons for North Korean Economic ReformKim Yeonchul(Korea University, Asiatic Research center, research Professor)
The North Korean new economic strategies that began in July 2002 showed the limits of partial measures. The direction of change is marketization, but such changes are selective and limited, and still fall short of reform and opening in the fundamental sense of modifying the economic mechanism or expanding private ownership.What is the economic reform model for North Korean to hint? The initial conditions in North Korea and China are different. First, economic reform requires the top echelon's commitment to change, along with a principal force among the ruling elites that can drive reform. North Korea is challenged to carry out policy changes while maintaining existing leadership and political ideology.Second, before undertaking economic reform China had growth potential, i.e., the farming population in its non-government sector as well as a highly decentralized economy. However, North Korea has an Eastern European-style industrial structure.Third, in the late 1970s, China was able to leverage its attractive domestic market to induce the capital it needed, while participating in the international market economy by stimulating its export industry. North Korea faces a different global environment. (The rest is omitted.) -
Regional Investment Environment: ChangJiang Delta
Investment Conditions in the Changjiang Delta Dong Yoon Oh and Hong Soo Lim Foreign direct investment (FDI) should be viewed as a continuing process that consists of two stages: initial entry and continuing expansion. The differ..
Dong Yoon Oh et al. Date 2002.12.30
Overseas Direct InvestmentDownloadContentSummaryInvestment Conditions in the Changjiang Delta Dong Yoon Oh and Hong Soo Lim
Foreign direct investment (FDI) should be viewed as a continuing process that consists of two stages: initial entry and continuing expansion. The difference in objectives and determinants between these two stages incurs distinctive spatial behavior in the investors. Once the decision to invest has been made, the initial search for the location of initial entry is limited and mainly based on the macroeconomic factors of the host country. In evaluating locations for the investment, the emphasis is placed on the potential to realize the overall strategies of investors to gather information about a higher level of region. As investors become more familiar with the economic environment of host countries, the locational options for continuing expansion or allocation increase. The perception and evaluation of location choices become more sensitive to various factors such as resources, markets, institutions and production. The location search then focuses on a lower spatial and micro-framework. Market considerations may grow more important. (The rest is omitted.) -
Debt Resolution, Cross-Border M&As, Governance and Control in Korea's Post-Crisis Corporate Restructuring
The outbreak of financial crisis in Korea in 1997 exposed the chronic structural weaknesses in the country's economy. Heated debates have failed to generate definitive answers on just what caused the financial crisis. (The rest is..
Chan-Hyun Sohn Date 2002.12.30
Business ManagementDownloadContentSummaryThe outbreak of financial crisis in Korea in 1997 exposed the chronic structural weaknesses in the country's economy. Heated debates have failed to generate definitive answers on just what caused the financial crisis. (The rest is omitted.) -
How FTAs Affect Income Levels of Member Countries: Converge or Diverge?
The purpose of this paper is to analyze whether the formation of an FTA will converge or diverge the economic levels of its member countries. Although similar previous studies predicted, to a certain degree, the possibility of eco..
Chan-Hyun Sohn Date 2002.12.30
Multilateral Negotiations, Free TradeDownloadContentSummaryThe purpose of this paper is to analyze whether the formation of an FTA will converge or diverge the economic levels of its member countries. Although similar previous studies predicted, to a certain degree, the possibility of economic convergence among FTA members, they failed to provide reliable research methods or concrete conclusions. By introducing the concept of 'accelerating convergence', this study tries to estimate economic convergence to analyze the pure effects of an FTA on the economic level convergence among its members. The model of economic growth developed by Barro and Sala-i-Martin (1995) is extended for this purpose, and by employing the panel data analysis of major FTAs including EU, NAFTA, Mercosur and AFTA, the seemingly unrelated regression (SUR) method provides considerable evidence on accelerated convergence. -
Korea's Strategy for Becoming a Northeast Asian Business Hub: Based on Case Studies of Major Business Hubs
Korea's Strategy for Becoming a Northeast Asian Business Hub- Based on Case Studies of Major Business Hubs -Chang Jae LeeIn Northeast Asia, functional regional economic integration has been progressing, driven by market forces des..
Chang Jae Lee Date 2002.12.30
Economic Opening, Economic CooperationDownloadContentSummaryKorea's Strategy for Becoming a Northeast Asian Business Hub- Based on Case Studies of Major Business Hubs -
Chang Jae Lee
In Northeast Asia, functional regional economic integration has been progressing, driven by market forces despite the absence of formal regional economic integration. China's recent accession to the WTO is expected to further accelerate the formation of the 'Northeast Asian Business Area.' As the rise of the Chinese economy can bring both threats and opportunities for Korea, it is up to Koreans to turn threat into opportunity. Although Koreans feel the need for a paradigm shift, there is still no consensus on the future direction of the Korean economy.Faced with these challenges, Korea's strategy for becoming a regional business hub stems from the idea that Korea should take advantage of its geographic location between two economic giants, China and Japan. (The rest is omitted.)