Policy Analyses
RESEARCH
Policy Analyses
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The Burst of the Asset Bubble and Financial Distress: Japan's Experience and Its Implication for Korea
During the second half of the 1980s, the Japanese economy experienced severe asset price bubbles while overall economic activities became overheated. Stock prices rose sharply by more than three times and commercial land prices sk..
Jonghwa Cho et al. Date 2003.12.24
Financial CrisisDownloadContentSummaryDuring the second half of the 1980s, the Japanese economy experienced severe asset price bubbles while overall economic activities became overheated. Stock prices rose sharply by more than three times and commercial land prices skyrocketed more than four times. The main reason for the asset price rise was that the Bank of Japan lowered its interest rates significantly in response to a possible decrease of external demand due to the sharp appreciation of the yen following the Plaza Agreement of September 1985, while financial liberalization had been progressed rapidly. (The rest is omitted.) -
Development of A Northeast Asian Financial Hub in Kore: Cases Studies and Their Implications
An international financial center means the specific area which functions as a center for borrowing and lending of funds. With London and New York at the top, many cities or countries such as Frankfurt, Paris, Chicago, Tokyo, Hong..
Hyungdo Ahn et al. Date 2003.12.24
Financial LiberalizationDownloadContentSummaryAn international financial center means the specific area which functions as a center for borrowing and lending of funds. With London and New York at the top, many cities or countries such as Frankfurt, Paris, Chicago, Tokyo, Hong Kong, and Singapore have been competing against one another to play a central role in international financial market. Given the situation, it is not enough for Korea to just put emphasis on its potentials as one; rather clear visions, accurate analysis of present conditions, and action plans are in need for Korea to build an international financial center. (The rest is omitted.) -
GMS Program: 10 Years Estimation and its Implications
The Mekong River, the 12th longest river in the world (flowing from Yunnan province, Southern China, to Vietnam) has been both an important resource and an obstacle to the development of infrastructure in the region. With programs..
Jae-Wan Cheong et al. Date 2003.12.24
Economic DevelopmentDownloadContentSummaryThe Mekong River, the 12th longest river in the world (flowing from Yunnan province, Southern China, to Vietnam) has been both an important resource and an obstacle to the development of infrastructure in the region. With programs to construct roads and railroads as well as energy and communication facilities, the region could seek to achieve sustainable economic growth and attract foreign direct investment, narrowing the economic gap between rural and urban areas. (The rest is omitted.) -
Opening of Service Industries in China and Its Implication
Prior to China's entry to the WTO, its service industries were highly protected due to the legacies of its traditional socialist economic system. However, since its admission to the WTO, China has been undertaking radical reform a..
Chang-Kyu Lee et al. Date 2003.12.24
Economic OpeningDownloadContentSummaryPrior to China's entry to the WTO, its service industries were highly protected due to the legacies of its traditional socialist economic system. However, since its admission to the WTO, China has been undertaking radical reform and the opening of its service industries.It is anticipated that service industries will face drastic and tremendous transformation in the WTO-era in China. Opening of service industries in China will also provide a new horizon for foreign firms and foreign investors in China in terms of business opportunities. Furthermore, the opening of service industries in China will bring about significant changes in structures and the basic framework of the Chinese economy, the economic relationships in East Asia and the entire world economy. (The rest is omitted.) -
An Analysis on Trade Rules of Korea, Japan and China: Implications on an FTA among Three Countries
This research has analyzed trade rules of Korea, Japan and China, focusing on rules of origin, antidumping, subsidies and countervailing measures, competition policy, and intellectual property rights, in order to provide implicati..
Moonsung Kang et al. Date 2003.12.24
Economic IntegrationDownloadContentSummaryThis research has analyzed trade rules of Korea, Japan and China, focusing on rules of origin, antidumping, subsidies and countervailing measures, competition policy, and intellectual property rights, in order to provide implications on an FTA among the three countries. (The rest is omitted.) -
Progress of a China-ASEAN FTA and Its Impacts
Since the Asian financial crisis of 1997∼1998, it has become a trend for many East Asian countries to actively enter into FTA agreements. There are several examples of FTAs that can describe this trend best, with not only bilater..
Inkyo Cheong et al. Date 2003.12.24
Free TradeDownloadContentSummarySince the Asian financial crisis of 1997∼1998, it has become a trend for many East Asian countries to actively enter into FTA agreements. There are several examples of FTAs that can describe this trend best, with not only bilateral FTA agreements such as those between Japan-Korea, China-ASEAN and Korea-ASEAN, but also trilateral FTAs between China, Japan and Korea. Even though the Japan-Korea FTA was initiated much earlier than the China-ASEAN FTA, the procedure of the latter has been pursuing a faster track. A China-ASEAN FTA is expected to become one of the most prominent trade agreements, forming a bloc composed of China, very potentially a giant economic power, and the 10 ASEAN countries. (The rest is omitted.) -
China's Role in Asia and the World Economy: Fostering Stability and Growth
China's continuing high growth rate and her comprehensive development process are expected to change the economic landscape of not only East Asia but also of the entire world in the next two decades. In this respect, China's role ..
Young Rok Cheong et al. Date 2003.12.23
Economic DevelopmentDownloadContentSummaryChina's continuing high growth rate and her comprehensive development process are expected to change the economic landscape of not only East Asia but also of the entire world in the next two decades. In this respect, China's role in both regional and global economy is essential in maintaining economic and financial stability. In this volume, a number of renowned Chinese scholars and other experts in international finance and development present various views on China's current state of development and future prospects, and discuss the challenges Chinese policymakers are likely to face when dealing with domestic, regional and international economic issues. (The rest is omitted.) -
Analysis of the Trade Negotiation Options in the East Asian Context
It is widely agreed that multilateral trade liberalization provides better welfare by promoting better resource allocation and enhancing competition. Regional trade agreements have been the only exceptions to the non-discriminator..
Nakgyoon Choi et al. Date 2003.12.23
Multilateral Negotiations, Free TradeDownloadContentSummaryIt is widely agreed that multilateral trade liberalization provides better welfare by promoting better resource allocation and enhancing competition. Regional trade agreements have been the only exceptions to the non-discriminatory liberalization under specific conditions. In reflection of a growing trend, many countries including the European Union, the United States, Mexico and Chile have become members of several regional trade agreements. (The rest is omitted.) -
Taiwanese Investment in China: Its Development and Strategy
Cross-Strait trade relations have developed rapidly since Beijing initiated economic reform and liberalization policies in 1978 and Taiwan followed later with a deregulation policy on trade with Mainland China. This has led to mut..
Wei Ai et al. Date 2003.12.23
Overseas Direct InvestmentDownloadContentSummaryCross-Strait trade relations have developed rapidly since Beijing initiated economic reform and liberalization policies in 1978 and Taiwan followed later with a deregulation policy on trade with Mainland China. This has led to mutual dependence between the two sides and influenced their respective economic development. For Taiwan, Mainland China has become a key trading partner, a major source of foreign trade surplus and an important area for outbound investments. (The rest is omitted.) -
Comprehensive Review of the Doha Development Agenda Negotiations during 2003
The 2003 Doha Development Agenda(DDA) negotiations focused on agenda regarding agriculture, services, non-agricultural market access, rules, TRIPs, trade and environment, trade and development, and the Singapore issues. The Cancun..
Nakgyoon Choi et al. Date 2003.12.23
Multilateral NegotiationsDownloadContentSummaryThe 2003 Doha Development Agenda(DDA) negotiations focused on agenda regarding agriculture, services, non-agricultural market access, rules, TRIPs, trade and environment, trade and development, and the Singapore issues. The Cancun Ministerial Conference held in September of 2003 failed to produce a compromise on the conflicting viewpoints of the developed and developing camps regarding the Singapore issues and agricultural negotiations. This monograph proposes negotiation strategies after reviewing the 2003 DDA negotiations. (The rest is omitted.)