Policy Analyses
RESEARCH
Policy Analyses
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Finance and Economic Development in Korea
This paper focuses on the following two issues. First, the paper investigates the extent to which financial development has contributed to economic growth in Korea. For this purpose, we introduce four well-known financial developm..
Yung Chul Park et al. Date 2004.08.30
Economic Development, Financial PolicyDownloadContentSummaryThis paper focuses on the following two issues. First, the paper investigates the extent to which financial development has contributed to economic growth in Korea. For this purpose, we introduce four well-known financial development indicators, and seek to find a long-run relationship between output growth and financial development. Second, the effects of financial repression on economic growth are examined. A financial repression index is constructed based on five related measures, and this index is augmented to the growth-finance equation. (The rest is omitted.) -
The Prospects of the Trade and FDI in Central and Eastern Europe after EU Enlargement
Ten new member states (Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia) joined the EU on May 1. This means that the EU is now comprised of 25 of the 191 sovereign states of the..
Cheol-Won Lee Date 2004.08.30
Economic IntegrationDownloadContentSummaryTen new member states (Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia) joined the EU on May 1. This means that the EU is now comprised of 25 of the 191 sovereign states of the world. The old EU had 380 million inhabitants, and enlargement added another 75 million people, an increase of 20%. Thus the enlarged EU has 455 million inhabitants. Also enlargement contributed little to the total GDP of the EU which increased to about 9,600 billion ?, an increase of 5%. (The rest is omitted.) -
Expansion Strategies of South Korean Multinationals
The purpose of this paper is to study the motivations of South Korean foreign direct investment. Using recent, detailed data on a selective sample of South Korean multinational firms, I examined the export and import behavior of t..
Hongshik Lee Date 2004.08.25
Overseas Direct InvestmentDownloadContentSummaryThe purpose of this paper is to study the motivations of South Korean foreign direct investment. Using recent, detailed data on a selective sample of South Korean multinational firms, I examined the export and import behavior of the affiliates abroad of South Korean multinational corporations. In doing so, I investigated, on the one hand, to what extent multinational activity is consistent with the factor proportions theory, i.e., to what extent multinational activity is related to cheap factor supplies. (The rest is omitted.) -
North Korea Development Report 2003/04
As a result of North Korea's isolation from the outside world, international communities know little about the status of the North Korean economy and its management mechanisms. Although a few recent changes in North Korea's econom..
Date 2004.07.30
Economic Cooperation, North Korean EconomyDownloadContentPart I Macroeconomic Status and Finance Chapter 1 Current Status of the North Korean Economy and Its Prospects Chapter 2 National Financial Revenue and Expenditure Chapter 3 Banking and Price Management Part II Industrial Management and Problems Chapter 4 The Industrial Sector Chapter 5 The Agricultural Sector Chapter 6 Social Overhead Capital Chapter 7 Commerce and Distribution Sector Chapter 8 The Defense Industry Part III International Economic Activities Chapter 9 Foreign Economic Relations Chapter 10 Special Economic Zones Chapter 11 Inter-Korean Economic Relations Part IV Social Security and Technology Development Chapter 12 Social Security and Social Services Chapter 13 Science and Technology Sector Part V The Recent Economic Policy Changes Chapter 14 The Contents and Background for the Recent Policy Changes Chapter 15 The Features and Problems of the Recent Economic Policy Changes Chapter 16 Prospects and Future Tasks of the July 1 Economic ReformSummaryAs a result of North Korea's isolation from the outside world, international communities know little about the status of the North Korean economy and its management mechanisms. Although a few recent changes in North Korea's economic system have attracted international interests, much confusion remains as to the characteristics of North Korea's recent policy changes and its future direction due to the lack of information. Therefore, in order to increase the understanding of readers in South Korea and abroad, KIEP is releasing The North Korea Development Report in both Korean and English. The motivation behind this report stemmed from the need for a comprehensive and systematic investigation into North Korea's socio-economic conditions, while presenting the current status of its industrial sectors and inter-Korean economic cooperation. The publishing of this second volume is important because it not only supplements the findings of the first edition, but also updates the recent changes in the North Korean economy. The topics in this report include macroeconomics and finance, industry and infrastructure, foreign economic relations and inter-Korean economic cooperation, social welfare and science & technology. This report also covers the 'July 1 Economic Reform' launched two years ago and subsequent changes in the economic management system. The North Korea Development Report helps to improve the understanding of the contemporary North Korean economy. -
2003/04 북한경제백서
As a result of North Korea's isolation from the outside world, international communities know little about the status of the North Korean economy and its management mechanisms. Although a few recent changes in North Korea's econom..
KIEP Date 2004.07.30
Economic Cooperation, North Korean EconomyDownloadContentPart I Macroeconomic Status and Finance
Chapter 1 Current Status of the North Korean Economy and Its Prospects
Chapter 2 National Financial Revenue and Expenditure
Chapter 3 Banking and Price Management
Part II Industrial Management and Problems
Chapter 4 The Industrial Sector
Chapter 5 The Agricultural Sector
Chapter 6 Social Overhead Capital
Chapter 7 Commerce and Distribution Sector
Chapter 8 The Defense Industry
Part III International Economic Activities
Chapter 9 Foreign Economic Relations
Chapter 10 Special Economic Zones
Chapter 11 Inter-Korean Economic Relations
Part IV Social Security and Technology Development
Chapter 12 Social Security and Social Services
Chapter 13 Science and Technology Sector
Part V The Recent Economic Policy Changes
Chapter 14 The Contents and Background for the Recent Policy Changes
Chapter 15 The Features and Problems of the Recent Economic Policy Changes
Chapter 16 Prospects and Future Tasks of the July 1 Economic ReformSummaryAs a result of North Korea's isolation from the outside world, international communities know little about the status of the North Korean economy and its management mechanisms. Although a few recent changes in North Korea's economic system have attracted international interests, much confusion remains as to the characteristics of North Korea's recent policy changes and its future direction due to the lack of information. Therefore, in order to increase the understanding of readers in South Korea and abroad, KIEP is releasing The North Korea Development Report in both Korean and English. The motivation behind this report stemmed from the need for a comprehensive and systematic investigation into North Korea's socio-economic conditions, while presenting the current status of its industrial sectors and inter-Korean economic cooperation. (The rest is omitted.) -
E-Finance Development in Korea
E-finance in Korea has evolved since the late 1980s, when developments in information and telecommunication technology started to be applied to the financial industry. Since the 1990s, e-finance has led a paradigm shift in the fin..
Choong Yong Ahn et al. Date 2004.07.25
Financial SystemDownloadContentSummaryE-finance in Korea has evolved since the late 1980s, when developments in information and telecommunication technology started to be applied to the financial industry. Since the 1990s, e-finance has led a paradigm shift in the financial industry as financial transactions in computer-based tools began increasing. There are several factors that contributed to e-finance development. Korea possesses the basic requisite conditions to foster thriving e-finance, including an advanced IT infrastructure, several government e-commerce initiatives and financial restructuring resulting from the financial crisis. In fact, all of these factors have eliminated possible impediments to the development of e-finance in developing countries. (The rest is omitted.) -
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Complementarity of Horizontal and Vertical Multinational Activities
This paper explores the multinational activities of the Japanese automobile industry by focusing on the vertical production structure of a firm. The main objective is to analyze the effects of horizontal multinational activities o..
Sungil Bae et al. Date 2004.05.15
Business Management, Overseas Direct InvestmentDownloadContentSummaryThis paper explores the multinational activities of the Japanese automobile industry by focusing on the vertical production structure of a firm. The main objective is to analyze the effects of horizontal multinational activities on vertical multinational activities. (The rest is omitted.) -
Review of the Ten Years of Transformation in South Africa Since 1994
The political transition of power from the regime of the white minority to the black majority 10 years ago in South Africa after a long struggle against apartheid was recorded as a historical event by itself. In the meantime, the ..
Young Ho Park Date 2004.04.20
Economic ReformDownloadContentSummaryThe political transition of power from the regime of the white minority to the black majority 10 years ago in South Africa after a long struggle against apartheid was recorded as a historical event by itself. In the meantime, the new democratic government inherited an economy in deep structural crisis, trapped in a low-growth equilibrium and international economic isolation due to the notorious racial discrimination policy of the white minority regime. The apartheid system had caused extreme inequality in the distribution of income and wealth beyond the level expected in a country at South Africa's level of development.
Since 1994, the government has implemented various economic and social policy reform programs to transform the economy, especially focusing on dismantling the legacy of apartheid, which systematically restricted the majority of South Africans from participation in the economy. (The rest is omitted.) -
Monetary Union and Real Convergence Compared: Europe and East Asia
Using the Gross Regional Domestic Product data for 10 East Asian countries, this study shows that East Asia as a whole tends to converge in terms of per capita income. Far stronger evidence in favor of real growth convergence is o..
Heungchong Kim et al. Date 2004.04.15
Financial CooperationDownloadContentSummaryUsing the Gross Regional Domestic Product data for 10 East Asian countries, this study shows that East Asia as a whole tends to converge in terms of per capita income. Far stronger evidence in favor of real growth convergence is observed if Northeast Asia is considered separately, while we cannot find any clear tendency of convergence for ASEAN 5 countries (Indonesia, Malaysia, Singapore, the Philippines and Thailand). This result may reinforce a brighter prospect for furthering economic and monetary integration in Northeast Asia. We can observe there are still relatively wider income disparities among regions and nations in East Asia than within Europe, suggesting that a common effort to reduce the income gap is needed for deeper integration. If income disparity continues between some East Asian countries, it can lead to the isolation of economically depressed regions or countries from a given union, which may then jeopardize the East Asian economic integration process itself. (The rest is omitted.)