Policy Analyses
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Policy Analyses
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North Korea's Economic Reform Under An International Framework
This paper endeavors to draw a picture showing the expected roles of important players in North Korea's economic reform. It explores the roles of inter-Korean economic cooperation in North Korea's rehabilitation and transition. Th..
Jong-Woon Lee Date 2004.11.25
Economic cooperation, North Korean economyDownloadContentExecutive Summary
I. Introduction
II. Tasks for South Korea in Inducing North Korea's Economic Reform
1. A Review of Economic Assistance from South Korea
2. Facilitation of Stable Inter-Korean Economic Relations through Institutionalization
3. Economic Assistance Aimed at Bottom-Up Changes through the Expansion of Private Economy Activities
4. The Activation of New Special Economic Zones as Instruments for Economic Openness
III. International Cooperation for Inducing Economic Reform in North Korea
1. Further Relaxation of U.S. Economic Sanctions
2.China's Role in Resolving North Korea's Nuclear Issues and Influencing Economic Transition
3. Economic Assistance from Japan through Diplomatic Normalization
4. The Expansion of Regional Cooperation Projects with Russia
5. The European Union's Humanitarian and Development Assistance
6. Expected Roles of International Financial Institutions
IV. Conclusion
ReferencesSummaryThis paper endeavors to draw a picture showing the expected roles of important players in North Korea's economic reform. It explores the roles of inter-Korean economic cooperation in North Korea's rehabilitation and transition. The measures needed to be taken to encourage North Korea integration with the world economy are also studied, as North Korean issues are closely related to the interests of neighboring powers. (The rest is omitted.) -
Understanding the British economy and economic relations between Korea and the UK
The British Economy has revitalized again since early 1990s. Since 1993 the UK economy has enjoined its longest period of expansion, real GDP growing by an average of 3% per year. Now per capita Income of the UK reached over US$30..
Heungchong Kim et al. Date 2004.11.25
Economic development, Economic cooperationDownloadContentSummaryThe British Economy has revitalized again since early 1990s. Since 1993 the UK economy has enjoined its longest period of expansion, real GDP growing by an average of 3% per year. Now per capita Income of the UK reached over US$30,000 in 2003. (The rest is omitted.) -
The European Integration and Development of European Automobile Industry
The European Integration and Development of European Automobile Industry Young-Gon Park This study analyzes the development trajectory of the European automotive industry and finds specific phenomenons of the industry in the pro..
Young-Gon Park Date 2004.11.20
Economic integration, Industrial structureDownloadContentSummaryThe European Integration and Development of European Automobile Industry
Young-Gon Park
This study analyzes the development trajectory of the European automotive industry and finds specific phenomenons of the industry in the process of european integration. The study also draws implications for the successful development of Korea's automotive industry.
The European Union abolished tariff and non-tariff barriers and unified different technical standards and regulations among member states during the 1990's integration process. The European automobile industry policies, standards and regulations were also unified through the integration process. This study finds that the abolishment of trade barriers for extra-union and the strengthening of standards related to the environment regulations and safety conditions in the union have led the increase the degree of competitive environment in the industry.
Facing a competitive environment, European automobile companies reorganized production and distribution systems, while leading establishment of strategic alliances or acquisitions with competing companies. And European automobile companies transferred their production facilities to Central and Eastern Europe in the late 1990's in order to reduce product costs and reinforce their market dominancy.
After examining the development of the European automobile industry, this study highlights the following implications for the development of Korea's automobile industry. In the EU's case, EU member states reinforced the industry's competitiveness through the abolishment of trade barriers for foreign enterprises and strengthened standards related to the environment regulations and safety conditions of automobile instead of financial and technical assistances to automobile companies. Thus, the recommended policy for the successful development of the automobile industry is one like EU, in which the government creates a favorable environment that could encourages market-competition, rather than providing direct financial and technical supports. To enlarge the market share in the Europe, Korean automobile companies should increase investments through the establishment of local corporations and the raising of the brand recognition in the local market. -
Current Economic Situation in the ASEAN+3 (China, Japan and Korea)'s and It's Economic Relations with Korea
Current Economic Situation in the ASEAN+3 (China, Japan and Korea)'s and It's Economic Relations with Korea Jae-Wan Cheong, Wanjoong Kim, Kyoung-Doug KwonASEAN+3 consists of..
Jae-Wan Cheong et al. Date 2004.11.20
Economic integration, Economic cooperationDownloadContentSummaryCurrent Economic Situation in the ASEAN+3 (China, Japan and Korea)'s and It's Economic Relations with Korea
Jae-Wan Cheong, Wanjoong Kim, Kyoung-Doug Kwon
ASEAN+3 consists of Southeast Asian countries, China, Japan and Korea. The population in the region is more than $ 2 billion, about 32% of the world population, and total GDP is $ 7 trillion, about 19.3% of the world GDP in 2003. Trade value of the region is $ 3 trillion, 20.8% of the world trade value. Thanks to economic recovery, China's growth and trade liberalization and the export oriented economic policy in the region, the trade portion of the region to the world trade is increasing. (The rest is omitted.) -
International Capital Market Imperfections: Evidence from Geographical Features of International Consumption Risk Sharing
This paper tests the validity of gravity variables to explain the degree of international consumption risk sharing. Our data show that consumption and output cycles for selected economies in the EU, NAFTA, East Asia and English-sp..
Yonghyup Oh Date 2004.11.15
Capital marketDownloadContentI. Introduction
II. Consumption risk sharing: specification
III. Consumption correlation and output correlation for the world
IV. Consumption risk sharing for 27 countries in the world
V. Regional features
VI. Concluding remarks
Appendix: Data
ReferencesSummaryThis paper tests the validity of gravity variables to explain the degree of international consumption risk sharing. Our data show that consumption and output cycles for selected economies in the EU, NAFTA, East Asia and English-speaking countries have synchronized during the four decades since 1950s, but the lack of consumption risk sharing is evident. For the panel of 27 countries our results first show that the gravity variables such as distance, economic size, richness, sharing the same border and sharing the same language are valid in explaining consumption correlations, but among these variables sharing the same border is not significant in explaining output correlation. (The rest is omitted.) -
Evaluation of Korean-Latin American Economic Relations and Policy Directions for Strategic Partnership
The contemporary environments for Korea's economic and trade policy toward Latin America are quite different from those of the 1990s. Today Korea has a free trade agreement (FTA) with Chile, is joining soon the Inter-American Deve..
Won-Ho Kim et al. Date 2004.11.10
Economic cooperationDownloadContentSummaryThe contemporary environments for Korea's economic and trade policy toward Latin America are quite different from those of the 1990s. Today Korea has a free trade agreement (FTA) with Chile, is joining soon the Inter-American Development Bank (IDB), is suffering from the hike of international prices of commodities in which the Latin American region is abundant, and has assumed the role of regional coordinator for the East Asia-Latin America Cooperation Forum (FEALAC). The shape of the region's political and economic realities in its turn is also different from that of the 1990s, when democratization, economic stability, market opening and reform, and regional integration featured. With the general exception of Mexico and Chile, Latin American countries have suffered in recent years from the vicious cycle of boom and bust, suspected the working of market-friendly reforms, and undergone the social instability. They have not been so much enthusiastic recently with the intra-regional integration as before, but more interested in further integration with extra-regional trade partners such as the United States, European Union, and major East Asian economies. (The rest is omitted.) -
Impacts of Exchange Rates on Employment in Three Asian Countries: Korea, Malaysia, and the Philippines
Exchange rate fluctuations provide a source of movements in employment both within and across industries. Previous studies focus on only developed countries, such as OECD countries. But country and industry characteristics in deve..
Wanjoong Kim et al. Date 2004.11.05
Exchange rateDownloadContentSummaryExchange rate fluctuations provide a source of movements in employment both within and across industries. Previous studies focus on only developed countries, such as OECD countries. But country and industry characteristics in developing countries are different from those of developed countries, so that the effects of fluctuations in real exchange rates on employment in developing countries may be different from those in developed countries. This paper examines the relationship between exchange rates and employment using a panel of 28 industries in three developing countries (Korea, Malaysia, and the Philippines) from 1970 to the 1990s using a panel VAR model. The impulse response functions show that Korean and Malaysian employment responds positively to exchange rate shocks. However, Philippine employment responds positively only after 1985. Compared to the developed countries over the same period, the developing countries show a larger response to exchange rate shocks. -
Policy Directions for Strengthened Economic Relations between Korea and Mexico
Since the beginning of the 1990s, bilateral trade has steadily increased. Mexico's imports from Korea have sharply grown due to the recent trade liberalization in Mexico, Korea's direct investments in Mexico, and Mexico's industri..
Won-Ho Kim Date 2004.10.15
Economic cooperationDownloadContentSummarySince the beginning of the 1990s, bilateral trade has steadily increased. Mexico's imports from Korea have sharply grown due to the recent trade liberalization in Mexico, Korea's direct investments in Mexico, and Mexico's industrialization process that demands components and intermediate goods to reexport to neighboring markets. Intra-industrial and intra-firm trade currently help expand trade, and ultimately meet trade balance. (The rest is omitted.) -
Economic Reform in the Middle East since the 1990s
Most of Middle Eastern countries faced an economic stagnation and macro-economic instability in the 1980s, whereas they had recorded a very rapid economic growth owing to the oil dollar in the 1970s. This dramatic economic change ..
Bokyeong Park Date 2004.10.10
DownloadContentSummaryMost of Middle Eastern countries faced an economic stagnation and macro-economic instability in the 1980s, whereas they had recorded a very rapid economic growth owing to the oil dollar in the 1970s. This dramatic economic change in the Middle East was found also in the non-oil exporting countries as well as the oil exporting countries. The bitter economic experiences in the 1980s was the momentum that prompted the Middle Eastern countries to start economic reform in the early 1990s. The new international economic environments such as globalization and regional integration were also a part of the background of the economic reform. (The rest is omitted.) -
Lifting Economic Sanctions on Libya and Its implication to Korean Construction Firms.
Libya had long been placed under economic sanctions by international society. Libya's support of international terrorism and violations of international peace were the basic reasons behind the sanctions. The economy of Libya had ..
Young Ho Park Date 2004.10.10
Economic developmentDownloadContentSummaryLibya had long been placed under economic sanctions by international society. Libya's support of international terrorism and violations of international peace were the basic reasons behind the sanctions. The economy of Libya had been suffering from serious depression mainly due to the UN and US sanctions especially leaving the oil sector damaged. Libya's nominal GDP per head shrank from around 7,430 US dollar in 1992; the year UN sanctions were imposed, to an estimated 5,929 US dollar in 1999. (The rest is omitted.)