Policy Analyses
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Policy Analyses
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The Impact of the EU Cultural Policy on European Integration and Its Implications for East Asia
This report was motivated by a number of recent events that have decelerated the European integration, including the failure of ratification of the European Constitution, and the fact that the European Union has started paying mor..
Date 2008.12.30
Economic integration, Industrial policyDownloadContentSummaryThis report was motivated by a number of recent events that have decelerated the European integration, including the failure of ratification of the European Constitution, and the fact that the European Union has started paying more attention to 'Culture'. At the background of this shift in policy focus is the recognition that recent failures have been partly induced by the feeling of 'democratic deficit', which has prevailed in the mindset of European peoples. In fact, citizens of Europe have felt an 'increasing distance' from 'Brussels', implying that decision made by the European Union not necessarily reflected their needs of daily life. Making the European people acquire European identity by making the EU visible and tangible has become one of policy tasks of the EU officials. These new developments in policy environment have motivated the EU policy circle to pay more attention to cultural programs, which are viewed as instruments to enhance the 'Unity in Diversity', by supporting the 'Diversity in Unity'. (The rest is omitted.) -
The Linkage of Climate Measures and Trade Rules and Its Implication on Korea
The past half century has been marked by an unprecedented expansion of international trade. Since 1950, world trade has grown more than 6% per year on average. The increased output or economic activity resulting from this trade ex..
Chang-In Yoon Date 2008.12.30
Environmental policyDownloadContentSummaryThe past half century has been marked by an unprecedented expansion of international trade. Since 1950, world trade has grown more than 6% per year on average. The increased output or economic activity resulting from this trade expansion have also impacted on greenhouse gas emissions. In addition, international trade expansion is likely to lead to increased use of transportation services, which has a strong link to greenhouse gas emissions. (The rest is omitted.) -
Trade Liberalization, Global Outsourcing and Employment
The consequences of trade-related job loss for the domestic labor market are very likely the key political economy issue for the future of Korean international economic policy. Recent opinion surveys reveal that sizable majorities..
Jin Kyo Suh et al. Date 2008.12.30
Economic opening, Labor marketDownloadContentSummaryThe consequences of trade-related job loss for the domestic labor market are very likely the key political economy issue for the future of Korean international economic policy. Recent opinion surveys reveal that sizable majorities of Korean understand that the benefits of free trade are accompanied by costs, borne largely by workers who lose jobs. Considerable public opinion supports future trade agreements that addressed labor issues. (The rest is omitted.) -
Trade liberalization and productivity growth in Korea
There is a lively debate about the effects of trade liberalization on productivity. although many empirical studies find a positive linkage between trade liberalization and productivity. One of the important reason for the disagre..
Jin Kyo Suh et al. Date 2008.12.30
Economic opening, productivityDownloadContentSummaryThere is a lively debate about the effects of trade liberalization on productivity. although many empirical studies find a positive linkage between trade liberalization and productivity. One of the important reason for the disagreement is that the specific mechanism through which trade liberalization may affect productivity is not yet analyzed. This report investigates the mechanism through which trade liberalization increases productivity. (The rest is omitted.) -
Intra-regional Trade of ASEAN Plus Three: Trends and Implications for East Asian Economic Integration
The paper analyses the evolving trends in trading patterns among the ASEAN+3 economies during the past decade in order to explain why it is the time for nstitutionalization of regional trade relations and how to meet those expecta..
Bui Truong Giang Date 2008.12.30
Economic integration, Trade structureDownloadContentSummaryThe paper analyses the evolving trends in trading patterns among the ASEAN+3 economies during the past decade in order to explain why it is the time for nstitutionalization of regional trade relations and how to meet those expectations. The author considers that though the ASEAN+3 trade relationship is reaching a critical point of interdependence, given its high intra-regional and intra-industry trade ratios, the 'final demand' is still outside the East Asian region. Thus, forming a regionwide FTA is the most relevant policy approach; that is, shifting the regional economic integration process from a market-driven to an institution-oriented one. East Asian trading nations should be more reliant on themselves and less reliant on outsiders to make the East Asian region better positioned in the global trading system. To this end, the FTAs in the region must act as effective means to generate for East Asia endogenous demand, turning China, Japan, Korea, and ASEAN, to some extent, into the final markets for the regional economies. (The rest is omitted.) -
Korea's Systematic Approach of ODA Policy toward Africa
Poverty is one of the most common problems in developing countries. However, poverty in Africa is much extensive, which is not just a problem, but more of a true misery. The scope of underdevelopment in Africa is beyond the econom..
Young Ho Park et al. Date 2008.12.30
Economic development, Economic cooperationDownloadContentSummaryPoverty is one of the most common problems in developing countries. However, poverty in Africa is much extensive, which is not just a problem, but more of a true misery. The scope of underdevelopment in Africa is beyond the economic arena as it prevails in every sphere of the society. Considering the fact that 40% of the population in Africa lives on less than USD 1 per day, poverty in Africa is an urgent matter that should not be neglected any longer. (The rest is omitted.) -
The Next APEC Membership from Latin America: A Contextual Approach
For most of the countries in Latin America, the Asia-Pacific region is still an unexploited market. The dynamic aggregate demand of the countries of the Asia-Pacific region, especially China, offers Latin America and the Caribbean..
Won-Ho Kim Date 2008.12.30
Economic integration, Economic cooperationDownloadContentExecutive Summary
I. Introduction
II. The Issue of the Admission of New Members
III. The Asia-Pacific, Latin America, and APEC
IV. Colombia and the Asia-Pacific Region
V. Differentiation of Economic Spectrum in South America
VI. Conclusion
ReferencesSummaryFor most of the countries in Latin America, the Asia-Pacific region is still an unexploited market. The dynamic aggregate demand of the countries of the Asia-Pacific region, especially China, offers Latin America and the Caribbean unprecedented production and export opportunities, both in commodities and in manufactures and services. Colombia actively promoted their interest and position in the Asia-Pacific regional cooperation with President Alvaro Uribe participating as the sole president of a non-member economy in 2008 APEC Summit. Colombia signed FTA with Canada, and the Bilateral Investment Treaty (BIT) with China on the sidelines of APEC. Colombia's trade and investment links with the Asia-Pacific is still limited although dynamic and ambitious in recent years. Considering the Uribe government's efforts for the APEC's two causes of regional integration and open economy, and for the sake of another locking-in effect, however, it will be appropriate that Colombia be admitted to APEC to enhance its momentum. This will give implications not only for future political and economic policymaking in Colombia but also for other countries' in the region. (The rest is omitted.) -
Corporate Social Responsibility (CSR) in the APEC: Another Common Denominator or Harmonizing Measure
This paper asks whether Corporate Social Responsibility (CSR) becomes another negotiating agenda, which asks all the APEC economies adopt a common set of discipline, or just a device for increasing peer pressure for the purpose of..
Byung-il Choi Date 2008.12.30
Economic cooperation, Business managementDownloadContentExecutive Summary
I. Introduction
II. Current Literature on CSR
III. Current State of Play of CSR in the APEC
IV. International Framework on CSR
A. The ILO Tripartite Declaration of Principles Concerning Multinational Enterprises and Social Policy
B. The OECD Guidelines for Multinational Enterprises
C. The UN Global Compact
D. ILO Core Labor Standards
E. ISO 26000
V. A Way Forward to CSR at the APEC
VI. Conclusion
ReferencesSummaryThis paper asks whether Corporate Social Responsibility (CSR) becomes another negotiating agenda, which asks all the APEC economies adopt a common set of discipline, or just a device for increasing peer pressure for the purpose of harmonizing business practices. The paper traces the process of CSR becoming an agenda at the APEC, and discusses several international CSR codes developed by other fora and their relation to the APEC. In the light of APEC's sensitivity to hidden trade agenda and voluntary nature of most international CSR codes, it is suggested that the best way to address CSR in the APEC be to undertake a dual-track approach: First, the APEC may set a medium-term goal of developing the APEC CSR code on voluntary basis; and Second, the APEC should continue to work on capacity building of CSR by stepping up efforts in the area of identifying best practice and dissemination, advocacy and public engagement, and networking. (The rest is omitted.) -
Free Trade Agreements in the APEC Region: An Evolutionary Path to Bogor Goals
The paper analyses the increasing regionalism tendency of APEC member economies, and investigates how the APEC process can make use of this tendency to bring the member economies closer to the Bogor Goals. The paper identified APE..
Date 2008.12.30
Economic integration, Free tradeDownloadContentI. Introduction II. Analysis of FTA Initiatives of APEC Member Economies 1. General Tendency towards Regionalism in the Region 2. FTA Activities with Other APEC Member Economies 3. FTA Activities with non-APEC Countries III. Increasing FTA Activities of APEC Member Economies and Bogor Goals 1. Potential of Increasing FTAs to be Stumbling Block to the Bogor Goals 2. Potential of Increasing FTA Activities to be Building Block to the Bogor Goals IV. APEC's Response to Increasing FTA Activities of Member Economies: An Evaluation 1. Rethinking the Instruments to Achieve the Bogor Goals 2. Approaches Addressing the Problem of Increasing FTA Activities 3. Evaluation of APEC Activities and Prospects V. Roadmap towards Achieving the Bogor Goals through intra-APEC FTAs 1. A Possible Roadmap of APEC towards the Bogor Goals 2. Challenges for Each Step of the Roadmap VI. ConclusionSummaryThe paper analyses the increasing regionalism tendency of APEC member economies, and investigates how the APEC process can make use of this tendency to bring the member economies closer to the Bogor Goals. The paper identified APEC to be dwindled in two crises – identity and credibility crisis – and recommended to actively make use of the intensified regionalism forces of member economies in overcoming these crises. Especially when making APEC-wide efforts to achieve the Bogor Goals, the paper advises the APEC process to utilize the diverse policy responses, which have been already adopted, in a more focused and consistent manner. By presenting a Roadmap and suggesting related policy steps, as well as discussing challenges and opportunities pertaining to each step, this paper proposed a series of policy actions for APEC to achieve the Bogor Goals. (The rest is omitted.) -
Economic Effects and Policy Implications of Financial Opening in Korea
Since the 1980's, Korea has witnessed a continuous expansion of financial opening, consequently having a high degree of financial opening as in developed economies. Despite various potential benefits, financial opening also poses ..
Deok Ryong Yoon et al. Date 2008.12.30
Economic opening, Financial liberalizationDownloadContentSummarySince the 1980's, Korea has witnessed a continuous expansion of financial opening, consequently having a high degree of financial opening as in developed economies. Despite various potential benefits, financial opening also poses potential problems such as macroeconomic instability. Financial opening may promote investment and economic growth through providing financial resources at a lower cost, and it may also contribute to improvement of the efficiency in domestic financial market. However, financial opening may also result in excessive capital inflows or promote inflows of highly volatile short-term capital, increasing macroeconomic instability or causing financial crisis. In particular, in 2008, Korea faced a global financial crisis, and this made Korea reconsider the benefits and costs of financial opening and Korea's approach to become a regional financial hub. At this point, comprehensive studies are needed that can help to properly evaluate the effects of financial opening in Korea. For this purpose, this paper empirically analyzes the economic effects of financial opening on the Korean economy in various respects. This study also extensively discusses policy implications of its empirical results. (The rest is omitted.)