Policy Analyses
PUBLISH
Policy Analyses
-
Evaluation and Future Agenda of WTO Investment Issues
There have been discussions on a Multilateral Framework on Investment (MFI) for the seven years since the Working Group on Trade and Investment was established at the WTO in 1997. However, the WTO failed to initiate negotiations f..
Seong-Bong Lee et al. Date 2003.12.30
Multilateral negotiationsDownloadContentSummaryThere have been discussions on a Multilateral Framework on Investment (MFI) for the seven years since the Working Group on Trade and Investment was established at the WTO in 1997. However, the WTO failed to initiate negotiations for a multilateral framework on investment in the 1999 Seattle, 2001 Doha and 2003 Cancun Ministerial Meetings. Even now, it is difficult to predict developments in discussions in the future. This study investigates some important reasons why the WTO discussions on the MFI have not reached a meaningful consensus.Despite the currently unfavorable circumstances, there is definitely a need for a multilateral investment agreement because the agreement can contribute to a stable and investment-friendly environment in the long run. In particular, long-term stability and predictability are essential for international direct investment. Considering the benefits, the WTO needs to seek ways to consistently pursue an investment agreement in the future. (The rest is omitted.) -
The Present and Prospect of Iraq Reconstruction
The purpose of this paper is to assess the status of the overall postwar reconstruction process and give some thoughts on future prospects for Iraq. More specifically, this paper addresses issues as follows: the reconstruction of ..
Bokyeong Park et al. Date 2003.12.30
Economic developmentDownloadContentSummaryThe purpose of this paper is to assess the status of the overall postwar reconstruction process and give some thoughts on future prospects for Iraq. More specifically, this paper addresses issues as follows: the reconstruction of the political system and the economic system and the restoration of infrastructure as well as the oil industry. (The rest is omitted.) -
Northeast Asian Economic Integration: Prospects for a Northeast Asian FTA
The 1990s witnessed a worldwide boom of Free Trade Agreements (FTAs) in which Northeast Asia lagged far behind other regions. However, recent developments suggest that a new era of regional integration may be dawning in Northeast ..
Yangseon Kim et al. Date 2003.12.27
Economic integration, Free tradeDownloadContentSummaryThe 1990s witnessed a worldwide boom of Free Trade Agreements (FTAs) in which Northeast Asia lagged far behind other regions. However, recent developments suggest that a new era of regional integration may be dawning in Northeast Asia. This volume is a collection of papers presented at a conference entitled 'Northeast Asian Economic Integration: Prospects for a Northeast Asian FTA,' held August 6-7, 2003 in Honolulu, jointly organized by the Korean Institute for International Economic Policy (KIEP) and the Northeast Asia Economic Forum (NEAEF). Distinguished scholars from around the world and experts from the region provided their views on feasible options and concrete policy measures available to each country toward the realization of a trilateral FTA based on a deep and critical analysis of economic/political constraints and the trade/economic structure of each country. -
Financial Integration and Consumption Risk Sharing in East Asia
This paper estimates the degree of consumption risk sharing and analyzes the channels of consumption risk sharing among the ten East Asian countries. (The rest is omitted.)
Soyoung Kim et al. Date 2003.12.27
Financial integration, Monetary policyDownloadContentSummaryThis paper estimates the degree of consumption risk sharing and analyzes the channels of consumption risk sharing among the ten East Asian countries. (The rest is omitted.) -
Trade Structure and Economic Growth: A New Look for the Relationship between Trade and Growth
What is the relationship between trade and economic growth? Due to the ambiguity of the relationship between trade and growth, the empirical relationship remains open (Rodriguez & Rodrik 2001, Baldwin, 2003). This paper introd..
Chan-Hyun Sohn et al. Date 2003.12.27
Economic development, Trade structureDownloadContentExecutive Summary
I. Introduction
II. Trade Structure and Growth
1. Use of Trade Structure
2. Three Models linking Trade to Growth
3. Trade Structure Variables
III. Empirical Analysis
1 Estimation Method
2. Data
3. Results
IV. Conclusion
References
AppendixSummaryWhat is the relationship between trade and economic growth? Due to the ambiguity of the relationship between trade and growth, the empirical relationship remains open (Rodriguez & Rodrik 2001, Baldwin, 2003). This paper introduces 'trade structure' variables, borrowing from the structure-conduct-performance (SCP) paradigm of Industrial Organization literature, and applying them to the relationship. A dynamic panel estimation for the data of 66 countries during 1991-2001 is used to verify the validity and robustness of the relationship. Trade structure variables that represent Heckscher-Ohlin model and Product Differentiation model respectively show strong evidence of positive effects on growth. This paper concludes that trade structures, not trade, well explain growth. (The rest is omitted.) -
European Integration and the Asia-Pacific Region
This book composed of eight papers dealing with the recent stage of the European Integration and its implications on the Asia-Pacific region. Firstly, Professor Delmatino's paper deal with the European Convention and the future of..
Heungchong Kim ed. Date 2003.12.27
Economic cooperation, Trade policyDownloadContentSummaryThis book composed of eight papers dealing with the recent stage of the European Integration and its implications on the Asia-Pacific region. Firstly, Professor Delmatino's paper deal with the European Convention and the future of the European Integration. Debating the future of European integration a few weeks before the Convention is expected to submit its final conclusions to the European Council, is a bit frustrating. In some fields significant progress has been made and the broad consensus reached on these issues is not limited to the 105 participants of this unique assembly, but shared by many in the European arena. On some crucial questions, however, the outcome is more questionable. Even if the Convention should find a compromise by mid-June, there is no guarantee that the 'Masters of the Treaties', the member states, will simply endorse it. In other words, the Convention undoubtedly marks a breakthrough, in terms of method and content, in the debate on the future of Europe, but is for sure not its ultimate conclusion. Therefore, a discussion of what yet has been achieved and what is still undecided, sheds some light on the characteristics of the process of consensus building in the EU and on the main issues at stake. (The rest is omitted.) -
Financial Market Opening in China and Korea
These seminar proceedings, a compilation of the works of four Korean and five Chinese economists, were the result of an international seminar co-organized by the Korea Institute for International Economic Policy of Korea and Insti..
Young-Rok Cheong et al. Date 2003.12.27
Economic openingDownloadContentSummaryThese seminar proceedings, a compilation of the works of four Korean and five Chinese economists, were the result of an international seminar co-organized by the Korea Institute for International Economic Policy of Korea and Institute of Quantitative and Technical Economics at the Chinese Academy of Social Sciences. (The rest is omitted.) -
Negotiation of a Possible WTO Regime on Competition Policy: The Way Forward
The increasing cross-border impact of anti-competitive behavior has led to frequent extra-territorial application of national competition law by major competition authorities such as the United States and the European Union. Recen..
Mikyung Yun Date 2003.12.27
Multilateral negotiationsDownloadContentSummaryThe increasing cross-border impact of anti-competitive behavior has led to frequent extra-territorial application of national competition law by major competition authorities such as the United States and the European Union. Recently, developing countries have also begun to vigorously enforce their competition laws against anti-competitive actions occurring abroad but affecting their markets, largely relying on decisions from developed economies.Such brisk cross-border activity related to competition policy has required increased coordination among competition authorities, both because international anti-competitive actions require international investigations and because of the need to resolve jurisdictional conflicts. Despite the recognition that an international competition regime is needed for such coordination, the suitability of the WTO as a forum has been subject to much debate. Although a Working Group on Trade and Competition Policy was established at the Singapore Ministerial in 1997 to discuss this issue, WTO members have so far failed to open negotiations on a multilateral competition regime. (The rest is omitted.) -
A China-Japan-Korea FTA: Current Progress and Tasks
A trilateral FTA between China, Japan and Korea(CJK) was raised as a possibility after the Asian financial crisis. In November 1999, the three countries made an official attempt to discuss stronger economic cooperation in Northeas..
Inkyo Cheong et al. Date 2003.12.27
Free tradeDownloadContentSummaryA trilateral FTA between China, Japan and Korea(CJK) was raised as a possibility after the Asian financial crisis. In November 1999, the three countries made an official attempt to discuss stronger economic cooperation in Northeast Asia during a trilateral summit meeting in Manila. Two years later (in November 2001), many issues were raised at the trilateral summit meeting in Brunei, including the commencement of foreign affairs and finance ministerial meetings among the three countries, a business forum, the development of cultural exchange and human resources, and the enforcement of an IT cooperation system. Through this process, the three countries finally were able to take their first steps toward trilateral economic cooperation and integrationOne year later, then Chinese Premier Zhu Rongji proposed the study of a trilateral FTA during the summit meeting in Phnom Penh, November 2002. Since then, the Trilateral Joint Research Project has been undertaken by the Development Research Center of the State Council(DRC) in China, the National Institute for Research Advancement in Japan(NIRA) and the Korea Institute for International Economic Policy(KIEP). The research has been carried out on a step-by-step basis, beginning with the 'Economic Effects of a Possible Free Trade Agreement among China, Japan and Korea' as the research theme for 2003. The policy recommendations have been developed jointly based on analysis and intensive discussion. The research results were reported at the trilateral meeting in Bali, October 2003, and a sectoral impact and policy study for a CJK FTA will be undertaken in 2004. (The rest is omitted.) -
Change in Japan's Trade Policy and Implications for Korea
'From multilateral to bilateral' is one of the important trends at present in the world trade environment. Since the late 1990s, Japan has supported a FTA-based trade policy for both a WTO-based multilateral trade system and an ac..
HongBae Lee et al. Date 2003.12.27
Trade policy, Free tradeDownloadContentSummary'From multilateral to bilateral' is one of the important trends at present in the world trade environment. Since the late 1990s, Japan has supported a FTA-based trade policy for both a WTO-based multilateral trade system and an active participation in promoting regionalism in relation to bilateral free trade agreements. This policy shift began in earnest with the Japan-Singapore FTA in 2002. (The rest is omitted.)