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KIEP Newsletter

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[KIEP Webzine] Newsletter Vol.7 No.13

  • Date2019/06/28
  • Hit1,699
KIEP Newsletter Vol. 7 No. 13

KIEP Newsletter Vol. 7 No. 13 | June 28, 2019 | Print

KIEP Surmounting Global Challenges, Creative Response! Korea Institute for International Policy (ISSN: 2288-0348)

KIEP PUBLICATIONS

An Analysis of Africa’s Agricultural Value Chain and Lessons from Korea’s Agricultural Development Policies Youngho Park, Jaewook Jung and Yejin Kim / World Economy Brief 19-09

Agriculture is an integral part of Africas economy, but Africa still faces various challenges to increasing production and adding value. The focus of this study is to analyze Africas agricultural value chain development, review Koreas agricultural value chain development policies on a parallel, and to draw policy suggestions from the Korean experience that can be applied to the African situation. A special focus is put on the rice sector not only because it is the staple food of Korea, on which much of its agricultural policies were centered, but also because consumption of rice is increasing rapidly in Africa and calls for a detailed look into how the momentum can be utilized to increase the value of African rice. Policy suggestions include the creation of a multi-purpose agricultural cooperative, domestic production of agricultural inputs, and the establishment of one-stop post-harvest management systems, in addition to fostering social change for the active participation of producers.

Push vs. Pull Factors of Capital Flows Revisited: A Cross-country Analysis Tae Soo Kang and Kyunghun Kim / Working Paper 19-01

This paper examines the major determinants of net capital inflows. The forty-seven countries used for the empirical analysis are divided into advanced economies (AEs) and emerging market economies (EMEs). These countries are further divided into subgroups in order to consider the heterogeneity that exists in AEs and EMEs. Our empirical result shows that sizable heterogeneity exists across country groups. Both push and pull factors are statistically significant in AEs, but push factors play a larger role in EMEs, though some pull factors partly affect capital flows to a few EME subgroups. Our empirical result is robust to alternative model specifications, alternative capital flow and interest rate measures, and an alternative sample period.

  • KIEP OPINIONS

    New Approaches to the Trilateral Cooperation between South Korea, North Korea and Russia / Joungho Park

    It is necessary to take a new approach to the trilateral cooperation. We need to identify new locations, concepts, and projects focusing on the improvement of connectivity and integration in the region while carrying out the three existing megaprojects. To this end, the parties must take some actions. Firstly, recalibration of the scope of the cooperation projects is required. This should be done by applying some of the universal principles of international investment and cooperation, namely development cooperation, more facilitated trade, and foreign direct investment. Secondly, the spatial boundaries also need some expansion. Thirdly, soft infrastructure construction may become an essential part of the trilateral cooper-ation projects along with other infrastructure construction projects or development cooperation programs, which include joint research, the establishment of a policy coordination mechanism, and the signing of a comprehensive partnership agreement (CEPA) between the two Koreas and Russia. Also required is the establishment of a track 1.5 based coordinating body to identify new tri-lateral cooperation projects, speed up the implementation of the existing ones, and develop new ideas. For instance, it may be possible to establish a policy coordinating organization inside the Far East Development Ministry or the Far Eastern Federal University, and present and review the results at the annual Eastern Economic Forum conference.

  • UPCOMING EVENTS

    [Conference] WEAI 94th Annual Conference

    We are honored to invite you to the Western Economic Association International (WEAI) 94th Annual Conference on June 29, 2019 in San Francisco, U.S.
    The Korea Institute for International Economic Policy (KIEP) is co-organizing "the Asian Economy Session" with the Korea International Finance Association and the Asia Finance Society.
    Experts will gather at the conference to share the findings of research on Asian Economy and discuss on its implications.
    We look forward to welcoming you at the conference.

    Details are as follows:
    1. Date & Time: Saturday, June 29th, 2019, 8:15-12:00
    2. Venue: San Francisco, U.S.
    3. Program:
    [Asian Economy I]
    - A Monetary Model for the NECs exchange rates and foreign reserve holdings
    - Portfolio Capital Flows and Instability of Foreign Exchange Market in Korea
    - Cross-Border Asset Pledgeability for Enhanced Financial Stability
    [Asian Economy II]
    - North Korea’s Nuclear Provocation and Trade Exchange Rate Wars between the US and East Asia
    - Residents’ Foreign Portfolio Investment and Its Impact on Exchange Rate
    - Interest Rate Increase, Household Cash Flow and Consumption in Korea
    4. Contact: Ms. Eunjung Kang, Senior Researcher, International Finance Team (ejkang@kiep.go.kr)

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  • NEWS AND ACTIVITIES

    2019 IEFS-EAER Conference

    The Korea Institute for International Economic Policy (KIEP) jointly hosted the 2019 IEFS-EAER Conference, together with the Korea Chapter of the International Economics and Finance Society (IEFS) and Seoul National University (SNU), on June 5th, 2019 at the SNU Asia Center in Seoul.
    Participants discussed major issues in international finance and international trade under the theme of “Structural Changes in the Global Economy: Global Value Chains and Financial Risks” at the conference which was held for the 4th time this year.
    Senior Vice President Chul Chung of KIEP started the conference with his opening remarks. Keynote speeches were given by Professor Pol Antras of Harvard University and Professor Karen Lewis of the Wharton School at the University of Pennsylvania.

    - Topic: Structural Changes in the Global Economy: Global Value Chains and Financial Risks
    - Date & Time: Wednesday, June 5th, 2019, 9:00–18:00
    - Venue: Seoul National University Asia Center, Samik Hall (Room 220), Room 240
    - Organizers: Korea Institute for International Economic Policy (KIEP), Korea Chapter of the International Economics and Finance Society (IEFS), Seoul National University (SNU)
    - Contact: Ms. Juwon Seo, Specialist, EAER editorial board (jwseo@kiep.go.kr)

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  • NEWS AND ACTIVITIES

    President Jae-Young Lee Delivers Keynote Speech at the Conference on Changes in the Global Economic Environment and Korean Economy

    President Jae-Young Lee of the Korea Institute for International Economic Policy (KIEP) attended and made a keynote speech at the Conference on Changes in Global Economic Environment and Korean Economy, held on June 4th, 2019 at the Conrad Hotel in Seoul. The conference was hosted by Yonhap Infomax, celebrating the 19th anniversary of its foundation, and was organized to diagnose changes in the global environment, including the direction of trade disputes between the U.S. and China, and to delve deeper into the future of the Korean economy and financial markets with domestic and international financial experts.
    In his presentation titled “Changes in the Global Economic Environment and the Challenges of the Korean Economy,” President Jae-Young Lee explained that amid the global uncertainties caused by the spread of protectionism, U.S.-China trade disputes, and other developments, Korea has suffered from a slowdown in export growth, the weakening of employment effect from its exports, and export concentration in certain items and regions.
    In order to solve these problems, President Lee emphasized the need to expand into emerging markets other than the U.S. and China, along with improvements in industrial competitiveness through innovation. In addition, he pointed out that diversification of economic cooperation would lead to an improvement in the economic structure and robustness of the Korean economy.
    In particular, President Lee noted that cooperation with the new southern regions and new northern regions currently pursued by the Korean government will be a key to future prosperity. ASEAN and India have emerged as major trade and investment partners for Korea, and Eurasian countries have grown into huge markets with abundant resources, opening possibilities for complementary economic cooperation with Korea, a leading industrial country with high demand for energy, he explained.
    President Lee also stressed that it is essential to promote the New Economic Map of the Korean Peninsula, which is at the core of economic cooperation with North Korea.

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  • NEWS AND ACTIVITIES

    KIEP Wins Grand Prize for Global Management in 2019

    The Korea Institute for International Economic Policy (KIEP) won the Grand Prize for Global Management in 2019 at the 2019 International Association of Area Studies (IAAS) Spring Conference and Global Management Awards Ceremony held under the theme of “Social Values and Regional Development Strategies for Innovative Balanced Development” on June 1st, 2019 at the Chung-Ang University in Seoul.
    Celebrating the 23rd anniversary of the foundation of the IAAS, the ceremony was organized along with the seminar to acknowledge the achievements of research institutes that have made outstanding research achievements globally and contributed to the establishment of a national policy framework.
    The IAAS announced KIEP as the Grand Prize winner for Global Management this year, highly commending its efforts to overcome the limitations of a national research institute and grow into one of the world’s leading research institutes by enhancing its global competitiveness.
    Earlier this year, KIEP was ranked 5th in the world and 1st in Asia among global think tanks in the 2018 Global Go To Think Tank Index Report conducted by the Think Tanks and Civil Societies Program (TTCSP) of the Lauder Institute at the University of Pennsylvania.
    On this day, Vice President Pyeong-Seob Yang of KIEP accepted the award on behalf of President Jae-Young Lee.

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    ANNOUNCEMENT

  • Call for Research Topics for KIEP

    KIEP is seeking innovative, timely and essential topics for research. We sincerely hope to receive any suggestions you might have for research topics, which you believe KIEP should pursue. We would like to listen to opinion of experts from various areas and make significant contributions to the governments decision-making process.
    Your insightful ideas and suggestions will be carefully reflected in our planning of new research projects and contribute ultimately to formulating policies for a more open international economic order. Please send us your ideas and suggestions via email, fax, or post at your convenience.

    View More Research Activities

  • Call for Papers for the East Asian Economic Review

    - The East Asian Economic Review (EAER) is an economic journal, for the promotion of interdisciplinary research on international economics. Published as a quarterly by the Korea Institute for International Economic Policy, a Korean government-funded economic think-tank, the Journal is global in perspective and covers both theory and empirical research. The Journal has recently changed its title from Journal of East Asian Economic Integration (JEAI) to the EAER. Your attention and support would be highly appreciated.

    - The Journal aims to facilitate greater understanding of all issues pertinent to diverse economies of East Asia through publication of rigorous analyses by renowned experts in the field. The EAER connects policy and theory, providing empirical analyses and practical policy suggestions for the economies in the region.

    - Topics for articles in the EAER include, but are not limited to: Trade and Investment, Economic Integration; International Finance; International Monetary Cooperation; Bilateral and Multilateral Economic Cooperation among East Asian Countries; and International Economic Cooperation for Korean Unification.

    Visit EAER Website

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