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Policy Analyses

Publications

  • Rationale for a China-Japan-Korea FTA and Its Impact on the Korean Economy
    Rationale for a China-Japan-Korea FTA and Its Impact on the Korean Economy

    This volume summarizes the results of a series of cooperative research efforts on 'The Implications of an FTA between China, Japan and Korea (CJK FTA) for the Korean Economy,' undertaken under the auspices of the National Research..

    Chang Jae Lee et al. Date 2005.12.30

    economic integration, economic cooperation
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    Content
    Foreword

    Preface

    Abstract

    I. Introduction

    II. Need for a CJK FTA
    1. Economic Benefits of a CJK FTA
    2. Effective Response to Regionalism
    3. Need for a CJK FTA: Alternative Thinking

    III. Macroeconomic Effects of a CJK FTA
    1. CGE model
    2. Distinctions from Preceding Studies
    3. Structure of the CGE model
    4. Scenarios of CJK FTA
    5. Outcome of the Analysis

    IV. Effects on the Manufacturing Sector
    1. Features of the Manufacturing Sector and the Selection of Sensitive Products
    2. Electronics Industry
    3. Automobile Industry
    4. General Machinery Industry
    5. Textile Industry
    6. Steel Industry
    7. Petrochemical Industry

    V. Effects on Agriculture and Fisheries
    1. Competitiveness of Major Agriculture Products
    2. Effects of Agriculture Opening by a CJK FTA
    3. Trade Specialization of Major Fishery Products
    4. Effects of a CJK FTA in the Fishery Sector

    VI. Implications for the Service Sector
    1. Concept and Significance of Service
    2. Classification of Service and International Trade
    3. Growing Importance of the Service Sector in the Korean, Chinese, and
    Japanese Economies
    4. International Status of the Service Sectors in Korea, China, and Japan
    5. Comparison of Competitiveness of the Service Sector of Korea, China, and
    Japan
    6. Sensitive Service Sectors of Korea, China, and Japan
    7. Direction for the Service Sectors in a CJK FTA

    Appendix

    References

    Contributing Authors
    Summary
    This volume summarizes the results of a series of cooperative research efforts on 'The Implications of an FTA between China, Japan and Korea (CJK FTA) for the Korean Economy,' undertaken under the auspices of the National Research Council for Economics, Humanities and Social Sciences in 2005. (The rest is omitted.)
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  • Feasibility and Economic Effects of a Korea-U.S. FTA
    Feasibility and Economic Effects of Korea-U.S. FTA

    This study begins with a motivation that both economic and non-economic effects should be considered in order to increase the feasibility of a Korea-U.S. FTA from the Korean perspective. This study also begins with a motivation to..

    Junkyu Lee et al. Date 2005.12.30

    economic integration
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    Content
    Preface

    Acknowledgements

    Executive Summary

    Chapter I. Introduction
    1. Background for a Korea-U.S. FTA
    2. Contributions of this Study: Integrated and Extensive
    3. Content and Organization

    Chapter II. U.S. Strategy for FTAs: Obstacles and Opportunities for Korea
    1. U.S. Trade Negotiating Strategy
    2. Process in the United States for FTA negotiations
    3. U.S. Trade Policy on Separate Areas in FTAs
    4. Chapter Conclusion: Comparison with Korean FTA Strategy

    Chapter III. Korea-U.S. Economic Relations, Issues and Competitiveness
    1. Trade and Investment Relations
    2. Current Bilateral Trade Related Issues
    3. Comparison of Competitiveness Using Three Methods
    4. Chapter Conclusion

    Chapter IV. Macroeconomic Effects of a Korea-U.S. FTA
    1. Analysis of Macro Economic Effects
    2. Effects of a Korea-U.S. FTA on Korean Service Sector
    3. Chapter conclusion
    Chapter V. The Political Economy of a Korea-U.S. FTA
    1. Korea as an FTA Partner for the United States: Why?
    2. The United States as an FTA Partner for Korea: Why?
    3. Trade Micro-Politics: Product Issues
    4. Trade Macro-Politics: Coalitions, Presidents and Parties
    5. Conclusions and Consequences for East Asia

    Chapter VI. Conclusions
    1. Effects of a Korea-U.S. FTA
    2. Non-economic effects of a Korea-U.S. FTA
    3. Opportunity Cost of Not Having a Korea-U.S. FTA
    4. Policy Implications

    Annex

    References

    Contributing Authors
    Summary
    This study begins with a motivation that both economic and non-economic effects should be considered in order to increase the feasibility of a Korea-U.S. FTA from the Korean perspective. This study also begins with a motivation to help successful Korea-U.S. FTA negotiations by writing the research in English. The English written study on the feasibility and economic effects of a Korea-U.S. FTA is expected to contribute to increasing the understanding of issues and effects of an FTA and to helping negotiators move along with efficient negotiations for the both countries. (The rest is omitted.)
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  • Economic Effects of a Korea-China FTA and Policy Implications(I)
    Economic Effects of a Korea-China FTA and Policy Implications(I)

    Growing dependence on trade blocs in the global economy (creating more regionalism) puts pressure on Korea, whose international economic activities comprise more than 70 percent of its GDP, to create or join an active trade bloc. ..

    Hongshik Lee et al. Date 2005.12.30

    economic integration
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    Content
    Preface

    Executive Summary

    I. Introduction
    1. Background of a Korea-China FTA
    2. Pursuit of a Korea-China FTA
    3. Overview of Methodologies

    II. Korea and China's FTA Strategies
    1. Korea's FTA Strategy
    2. China's FTA Strategy

    III. The Economic Relationship Between Korea and China
    1. Trade Patterns
    2. Investment Patterns
    3. A Competitiveness Analysis in Korean and Chinese Industries
    4. Comparison of Tariff Rates of Korea and China

    IV. Analysis of the Economic Effects of a Korea-China FTA
    1. Analysis of the Macroeconomic Effects
    2. Effects of a Korea-China FTA on Foreign Direct Investment

    V. Conclusion
    1. Potential Economic Effects of a Korea-China FTA
    2. Policy Implications
    3. Limitations and Future Work

    References

    Contributing Authors
    Summary
    Growing dependence on trade blocs in the global economy (creating more regionalism) puts pressure on Korea, whose international economic activities comprise more than 70 percent of its GDP, to create or join an active trade bloc. In other words, if Korea does not enter the global FTA network, Korea will face disadvantages. If Korea's major trading partners conclude FTAs with other nations and regions, Korean products will become relatively more expensive and lose price competitiveness in these markets because of the relatively higher tariff rates imposed on Korean products. (The rest is omitted.)
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  • 최근 국내 외환정책의 주요 이슈와 향후 과제 - 한국의 외환보유액 결정요인 분석과 적..
    The Demand for and Optimal Management of International Reserves in Korea

    In this paper we provide empirical interpretations for the build up and active management of international reserves in Korea. (The rest is omitted.)

    Deok Ryong Yoon et al. Date 2005.12.30

    exchange rate
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    Content
    Summary
    In this paper we provide empirical interpretations for the build up and active management of international reserves in Korea. (The rest is omitted.)
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  • 최근 국내 외환정책의 주요 이슈와 향후 과제 - 소규모 개방경제모형하에서의 통화정책..
    Optimal Monetary Policy in a Small Open Economies

    There are many small open economies that have recently been employing inflation targeting as a medium-term monetary policy target. In addition, inflation targeting comes with a free-floating exchange rate regime because it is adva..

    Doo Yong Yang et al. Date 2005.12.30

    monetary policy
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    Content
    Summary
    There are many small open economies that have recently been employing inflation targeting as a medium-term monetary policy target. In addition, inflation targeting comes with a free-floating exchange rate regime because it is advantageous in mitigating external shocks. However, in the process of inflation targeting there arise some conflicts between the pressures of and exchange rate stability and higher inflation, especially cost-push inflation. (The rest is omitted.)
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  • 최근 국내 외환정책의 주요 이슈와 향후 과제 - 한국의 물가안정목표제하의 환율정책
    Exchange Rate Policies under Inflation Targeting in Korea

    This report reviews theoretical developments on inflation targeting, evaluates the way it has been managed in Korea, and tries to find its link with Korea's exchange rate policies. Introduced officially in late 1990s, inflation ta..

    Eun Kyung Kim et al. Date 2005.12.30

    exchange rate
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    없음
    Summary
    This report reviews theoretical developments on inflation targeting, evaluates the way it has been managed in Korea, and tries to find its link with Korea's exchange rate policies. Introduced officially in late 1990s, inflation targeting has been one of the key macroeconomic means exercised by Bank of Korea. (The rest is omitted.)
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  • 무역자유화가 고용 및 임금 양극화에 미친 영향: 한국 제조업을 중심으로
    무역자유화가 고용 및 임금 양극화에 미친 영향: 한국 제조업을 중심으로

    Since 1980 when the limitations of the government-led growth strategies started to show, Korea has adopted trade liberalization policies from import substitution ones. (The rest is omitted.)

    Woo-Yung Kim et al. Date 2005.12.30

    trade policy
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    Content
    Summary
    Since 1980 when the limitations of the government-led growth strategies started to show, Korea has adopted trade liberalization policies from import substitution ones. (The rest is omitted.)
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  • 전 세계적 양극화 추세와 해외 주요국의 대응
    Policy Responses by Developed Countries to the Global Trend of Bipolarization

    This study studies policy implications of the phenomenon of 'bipolarization' in contemporary Korea by providing ample case studies of developed foreign countries in terms of bipolarization and policy responses. The phenomenon of b..

    Heungchong Kim et al. Date 2005.12.30

    economic development, financial liberalization
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    Content
    Summary
    This study studies policy implications of the phenomenon of 'bipolarization' in contemporary Korea by providing ample case studies of developed foreign countries in terms of bipolarization and policy responses. The phenomenon of bipolarization is a relatively new phenomenon, even in developed countries. Bipolarization has emerged as one of Korea's major problems, as its speed is unprecedentedand its scope is broad and comprehensive. In case of the United States, worsening income distribution has been observed, and the problem of poverty is now receiving special attention. (The rest is omitted.)
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  • ASEAN 및 회원국들의 지식재산권관련 현황과 한 ASEAN FTA의 시사점
    IPRs of ASEAN and Its Members and Implications for the Korea-ASEAN FTA

    Korea and ASEAN, aiming to conclude an FTA in 2006, began the first round of negotiations on February 22 to 25 and concluded the seventh round as of October11 to 14 in 2005. It is agreed that IPR is one of the remaining issues in ..

    Booyoung Eom Date 2005.12.30

    economic integration, industrial policy
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    Content
    I. Introduction
    1. Scope and Objective
    2. The Overview of IPRs under FTA

    II. The IPRs Policies of ASEAN Member Countries
    1. Overview
    2. The IPRs Policies of Individual Countries
    3. FTAs Concluded by ASEAN Members
    a. Singapore-US FTA
    b. Singapore-Japan FTA
    c. Vietnam-US FTA

    III. The IPRs Policies of ASEAN
    1. Overview
    2. Agreement and Action Plan
    a. ASEAN Framework Agreement on Intellectual Property Cooperation
    b. ASEAN Intellectual Property Right Action Plan 2004-2010
    3. Cooperations with Other Regions
    a. EC-ASEAN Intellectual Property Rights Cooperation Program
    b. ASEAN-WIPO Cooperation

    IV. The Infringement of IPRs on Korean Goods
    1. The Infringement of IPRs on Cultural Goods
    2. The Comparison of Technological Competitiveness

    V. Conclusion and Implication
    Summary
    Korea and ASEAN, aiming to conclude an FTA in 2006, began the first round of negotiations on February 22 to 25 and concluded the seventh round as of October11 to 14 in 2005. It is agreed that IPR is one of the remaining issues in negotiating economic cooperation between the two entities. Under worries that any positive effects of an FTA will be negated in the event of inadequate IPR protection, this paper analyzes the IPR policiesof ASEAN and its members, and draws implications for a Korea-ASEAN FTA. (The rest is omitted.)
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  • 해외충격이 국내경기변동에 미치는 효과 분석
    Impacts of Foreign Shocks onDomestic Macroeconomic Fluctuations

    When evaluating the domestic economy of small-open economy, there are various potentially negative foreign shocks that must be taken into consideration. (The rest is omitted.)

    Kwon Sik Kim Date 2005.12.30

    exchange rate
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    Content
    Summary
    When evaluating the domestic economy of small-open economy, there are various potentially negative foreign shocks that must be taken into consideration. (The rest is omitted.)
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