Policy Reference
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Policy Reference
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Changes in East German Industrial Structure in the Post-Unification Era
Although the German government has attempted to transform the industrial structure of former-East Germany into a market economy system in the post-unification era, it has been unsuccessful. This is attributed to the market monopol..
Date 1994.12.30
Industrial structureDownloadContentSummaryAlthough the German government has attempted to transform the industrial structure of former-East Germany into a market economy system in the post-unification era, it has been unsuccessful. This is attributed to the market monopoly and barriers to the smooth flow of resources from companies in former-West Germany. This paper suggests that the Korean government can learn from the policy implications offered by changes in industrial structure in the process of German unification. From these changes, the Korean government can form its own policy direction for matters that demand special attention after Korea unifies and moves to a market economy system. In particular, it is important that the price system is not transformed according to the market. For example, North Korean income for individuals should be assured by distributing the ownership of government property instead of selecting a favorable conversion rate for North Korean currency. -
Government Subsidy for R&D as a Strategic Trade Policy
In order to formulate national economic policy, economic analysis, in particular theoretical analysis, is more important than widely recognized.Although political compromise affects economic policy, decisions from bureaucracy are ..
Jeong Yeon Lee Date 1994.12.30
DownloadContentSummaryIn order to formulate national economic policy, economic analysis, in particular theoretical analysis, is more important than widely recognized.
Although political compromise affects economic policy, decisions from bureaucracy are generally based on coherent theory such as economic analysis.In addition, as the important effects of economic policy tend to be indirect, it is essential that the approach to formulating this policy try to see the big picture, anticipating the effects of policy.
This report suggests that theoretical analysis of an economy using mathematical models is the most effective method of predicting the general effects of economic policy. -
Policies to Promote Long-Term U.S.-Korea Industry and Technology Cooperation
There is a general inclination for the U.S. to receive fewer benefits from U.S-Korea industrial and technological cooperation, therefore it is natural for the U.S. to take a negative attitude toward cooperation with Korea.In order..
Yoo Soo Hong Date 1994.12.30
Technical cooperationDownloadContentSummaryThere is a general inclination for the U.S. to receive fewer benefits from U.S-Korea industrial and technological cooperation, therefore it is natural for the U.S. to take a negative attitude toward cooperation with Korea.
In order to increase profits between the two nations, this paper emphasizes cooperation between the public and private sectors.
This papers recommends that cooperation between companies play a more important role than cooperation between governments. A strategic technological tie-up has to be the center of cooperation, as well as licensing and technology transfer.Cooperation between governments can tie-in with political and economic cooperation, and the Korean government has to focus on playing the role of companion in cooperation with U.S. by helping them enter the Asia market. In addition, establishing a foundation for industrial-technical tie-ups and science-technical tie-ups could increase the cooperation between the two nations. -
Liberalization of the Foreign Exchange Market and Risk Management
This report estimates that there are some noticeable features in the foreign exchange rate fluctuations in the Korean market. Using a Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model on daily won-dollar exch..
Sang-Yong Joo Date 1994.12.30
Capital market, Exchange rateDownloadContentSummaryThis report estimates that there are some noticeable features in the foreign exchange rate fluctuations in the Korean market. Using a Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model on daily won-dollar exchange rate fluctuations, it was found that the range is higher for devaluation than for revaluation. In other words, the more the foreign exchange rate rises, the more risk increases.
So far, the Korean government has implemented risk management measures for the foreign exchange rate by devaluating the won price to maintain the competitiveness of exports and minimize risk, limiting the range of exchange rate fluctuations.
The report suggests that it is time for Korean companies to improve their risk management, specifically improving exclusive responsibility.
The report suggests that in preparing to use the floating foreign exchange rate system, Korean companies have to analyze systematically its risk and learn advanced methods such as forward exchange, currency futures and currency options. -
A Study of Social Overhead Capital and Transportation Systems in Northeast China
Kyung-Ho Kim et al. Date 1994.12.29
Economic development -
Japanese Investment in the Three Provinces of Northeast China
Soo Woong Choi Date 1994.12.29
Overseas direct investment -
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Japanese Firms' Strategies toward a Strong Yen, and Implications for Korea
Chon-Sok Im Date 1994.12.29
Business management, Overseas direct investment -