Policy Analyses
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Policy Analyses
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Korean-American Trade Structures Since the 1990s
Korean-American Trade Structure since the 1990s. Junsok Yang and Hong-Youl KimThis study examines the changes in industry-level structure of Korea-US trade between 1991 and 2001. This study also examines the role of some macroecon..
Junsok Yang et al. Date 2002.12.30
Trade structureDownloadContentSummaryKorean-American Trade Structure since the 1990s.
Junsok Yang and Hong-Youl Kim
This study examines the changes in industry-level structure of Korea-US trade between 1991 and 2001. This study also examines the role of some macroeconomic variables such as exchange rate and GDP on the trade structure of Korean-American trade through econometric analysis.Since the liberation of Korea in 1945, the United States has been Korea's largest trading partner. US has been Korea's largest export market, and, along with Japan, one of the two largest import sources. However, in terms of percentage shares of Korean exports and imports, the importance of US has been declining since the 1980s. Whereas the American share in Korean exports and imports sometimes reached 50% before the 1980s, by 1991, the American share had fallen to 25% of Korean exports and 22% of Korean imports. While the share fluctuated during the mid-1990s and after the Asian financial crisis, the American share seems to have stabilized around 20% of total Korean exports, and 15% of total Korean imports in early 2000s. (The rest is omitted.) -
Non-trade concerns: Strategics for the DDA negotiation on agriculture
The Agriculture Agreement provides significant scope for governments to pursue important non-trade concerns such as food security, the environment, structural adjustment, rural development, poverty alleviation, and so on. Article ..
Yoocheul Song et al. Date 2002.12.30
Multilateral negotiationsDownloadContentSummaryThe Agriculture Agreement provides significant scope for governments to pursue important non-trade concerns such as food security, the environment, structural adjustment, rural development, poverty alleviation, and so on. Article 20 says the negotiations have to take non-trade concerns into account. Most countries accept that agriculture is not only about producing food and fiber but also has other functions, including these non-trade objectives. Some countries say all the objectives can and should be achieved more effectively through green box subsidies that are targeted directly at these objectives and by definition do not distort trade. Examples include food security stocks, direct payments to producers, structural adjustment assistance, safety-net programs, environmental programs, and regional assistance programs that do not stimulate agricultural production or affect prices. These countries say the responsibility is on the proponents of non-trade concerns to show that the existing provisions, which were the subject of lengthy negotiations in the Uruguay Round, are inadequate for dealing with these concerns in targeted, non-trade distorting ways. (The rest is omitted.) -
Effects of the Liberalization of Distribution Industry in China and Korea's Strategy
The Liberalization of the Distribution Industry in China and Korea's Strategy Hyun-jun Cho This study aims to examine changes and effects related to the liberalization of China's distribution industry and to suggest some strateg..
Hyun-jun Cho Date 2002.12.30
Economic openingDownloadContentSummaryThe Liberalization of the Distribution Industry in China and Korea's Strategy Hyun-jun Cho
This study aims to examine changes and effects related to the liberalization of China's distribution industry and to suggest some strategies to take advantage of the opportunities accruing from the liberalization. Several recent important trends related to the liberalization of China's distribution industry are as follows: The general process of liberalization of its distribution industry was initiated by China's accession to the WTO. With its comparative advantages of a vast market and lower production costs, China is becoming a global distribution and production base. With the opening of the distribution industry, accessing China's domestic market is increasingly becoming the main objective of foreign investment to China. (The rest is omitted.) -
Economic Effects of the Doha Development Agenda
Economic Effects of the Doha Development Agenda Negotiations According to Various ScenariosNakgyoon Choi and Soon-Chan ParkThis study examines the possible effects of the on-going Doha Development Agenda (DDA) negotiations on the ..
Nakgyoon Choi et al. Date 2002.12.30
Multilateral negotiationsDownloadContentSummaryEconomic Effects of the Doha Development Agenda Negotiations According to Various Scenarios
Nakgyoon Choi and Soon-Chan Park
This study examines the possible effects of the on-going Doha Development Agenda (DDA) negotiations on the GDP, welfare, trade and industrial production of Korea by using a computable general equilibrium (CGE) model. The studys objective is to shed some light on the implications for the Korean economy. We consider various scenarios according to possible developments in the negotiations. Since the DDA negotiations cover all economic sectors, we classify economic activities into 14 sectors including agriculture, manufacturing and services. (The rest is omitted.) -
Major Issues on Some Services Sectors in DDA Negotiations and Future Policy Directions: Legal,Audio-visual and Education Services
The Ministerial Declaration of the 4th WTO Ministerial Meeting at Doha in November 2001 annouced the launch of the Doha Development Agenda(DDA) to be completed by January 1st, 2005. This study seeks to analyze major issues on se..
June-Dong Kim et al. Date 2002.12.30
Multilateral negotiationsDownloadContentSummaryThe Ministerial Declaration of the 4th WTO Ministerial Meeting at Doha in November 2001 annouced the launch of the Doha Development Agenda(DDA) to be completed by January 1st, 2005.
This study seeks to analyze major issues on selected services sectors in DDA negotiations and recommend future policy directions. The three services sectors that we select, namely, legal, audio-visual and education services, are those sectors where foreign providers have not been allowed to freely operate in Korea and thus the DDA negotiations have significant implications for the Korean economy. In legal services, trading partners are expected to demand that foreign legal consultants (FLCs) be allowed to provide services and establish law firms in Korea in the area of consultancy on foreign laws and international laws. In response to this demand, the Korean government needs to establish a system of indemnity insurance to protect consumers. The culture industry, which encompasses Audio-visual services, has been deemed one of the most promising sectors of the 21st century. In the DDA services negotiation, some major trading partners requested that the issue of quantitative restrictions on foreign contents such as screen quotas and broadcasting programming quotas be addressed. According to the experiences of the United Kingdom and Canada, these quantitative regulations on foreign contents failed to yield the anticipated benefits of facilitating production of domestic contents. Furthermore, as technological progress increases the distribution channels of audio-visual services, quantitative regulations on contents will lose their effectiveness. Therefore, it is necessary to convert the current quantitative regulations towards a policy that regulates anti-competitive practices. In addition, subsidies to increase the opportunities or the screening of domestic movies and to support the related infrastructure and education of related personnel may be possible alternatives to quantitative restrictions. (The rest is omitted.) -
East Asian Economic Integration: Recent Development of FTAs and Policy Implications
With the development of transportation and communication links, barriers of physical distance are gradually lowered and the expansion of trade and investment promotes the integration of global economy at a faster speed. Recently E..
Inkyo Cheong Date 2002.12.30
Economic integration, Free tradeDownloadContentSummaryWith the development of transportation and communication links, barriers of physical distance are gradually lowered and the expansion of trade and investment promotes the integration of global economy at a faster speed. Recently East Asian countries have begun to scrutinize new vision of an East Asian economic cooperation and to consider various ways to execute such a vision. Until recently, Northeast Asian countries - China, Japan, and Korea- have not participated in any regional trade agreements. After the financial crisis, however, these countries began to show a great interest in establishing free trade agreements. In 1998, Korea announced its plan to proceed with an FTA with Chile and also began a joint study with Japan. In 1999, Korea began FTA negotiations with Chile and concluded it October 2002. In addition to the FTA with Chile, Korea has been doing joint researches on an economic effect the FTAs with Japan, New Zealand and Thailand would bring about. (The rest is omitted.) -
Strategic Alliances of IT Industries in Korea, China and Japan: With an Emphasis on Knowledge Networking
Strategic Alliances of IT Industries in Korea, China and Japan: With an Emphasis on Knowledge NetworkingYoo Soo HongThis study has three purposes. First, it identifies that the core of strategic alliances in the world today is the..
Yoo Soo Hong Date 2002.12.30
Technical cooperationDownloadContentSummaryStrategic Alliances of IT Industries in Korea, China and Japan: With an Emphasis on Knowledge Networking
Yoo Soo Hong
This study has three purposes. First, it identifies that the core of strategic alliances in the world today is the knowledge networking to share the world knowledge. Second, it attempts to derive policy implications from the trends and future challenges of strategic alliances among the three major Northeast Asian countries－Korea, China and Japan. Third, it recommends a new national grand strategy, the Northeast Asian IT Community (NAITC) Program and several policy measures for the implementation of the strategy in line with the development of strategic alliances among the three countries.The study is both theoretical and empirical. First, it renders a conceptual framework for the relationship between the knowledge-based economy, knowledge networking and strategic alliances. Then it reviews the trends and structural characteristics of strategic world alliances in the 1990s, referring to the reports and data recently published by the OECD. (The rest is omitted.) -
The Development of Korea-Japan FTA and the Japanese Distribution Barriers: From the Competition Policy Perspective
The study examines the Japanese distribution barriers as one of most important non-tariff barriers of the Japanese market and attempts to lead the implications on the Korea-Japan FTA, Free Trade Agreement, of it in terms of the co..
Yang-Hee Kim et al. Date 2002.12.30
Free tradeDownloadContentSummaryThe study examines the Japanese distribution barriers as one of most important non-tariff barriers of the Japanese market and attempts to lead the implications on the Korea-Japan FTA, Free Trade Agreement, of it in terms of the competition policy. (The rest is omitted.) -
The State of Land Ownership Reform in Russia
In 2001, Russia marked the 10th anniversary of the dismantling of the Soviet Union, which set in motion its transition to a market economy. Among the many achievements that can be considered in assessing the country's performance..
Yoo Jung Ha Date 2002.12.30
Economic reformDownloadContentSummaryIn 2001, Russia marked the 10th anniversary of the dismantling of the Soviet Union, which set in motion its transition to a market economy. Among the many achievements that can be considered in assessing the country's performance during the 10-year economic transformation, this paper focuses on land reform. Land reform has been seen as a cornerstone that marks private ownership, a market-based economy, and a favorable investment climate in transition economies; but it has never been an easy task due to political conflicts. This regional report focuses on the recent progress in land reform under the Putin Administration after a brief historical overview and suggests some remaining tasks that must be completed to activate the land market in Russia. (The rest is omitted.) -
The Recent Monetary and Fiscal Policies in Eurozone Countries
Although the European economy returned to growth in the first half of 2002 led by increasing exports, the upward trend in economic growth is still fragile. Improving exports led the upturn in the first quarter, benefited from stre..
Young-Gon Park Date 2002.12.30
Economic outlookDownloadContentSummaryAlthough the European economy returned to growth in the first half of 2002 led by increasing exports, the upward trend in economic growth is still fragile. Improving exports led the upturn in the first quarter, benefited from strengthening global activity, while domestic demand picked up modestly in the second quarter. However, the global outlook has recently weakened and become more uncertain, which already appears to be dampening European exports. (The rest is omitted.)