Policy Analyses
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Policy Analyses
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Management Survey of Korean Firms in India and Strategies for Localization
India's consistent growth performance and large high-skilled workforce provides enormous opportunities for both domestic and foreign investment. Since 1991, India has initiated major economic reform programs in the fields of inves..
Sooncheul Lee et al. Date 2006.12.29
Business management, Foreign direct investmentDownloadContentSummaryIndia's consistent growth performance and large high-skilled workforce provides enormous opportunities for both domestic and foreign investment. Since 1991, India has initiated major economic reform programs in the fields of investment, trade, and finance - in addition to the enactment of competition laws, amendments to intellectual property rights laws, etc. (The rest is omitted.) -
A Study on Japan's Economic Reform and Its Implications for Korea
The Japanese economy has finally recovered from a decade of recession. According to the Japanese government's official report on its country's business cycle, the transition from contraction to expansion in the Japanese economy li..
Sung Chun Jung et al. Date 2006.12.29
Economic reform, productivityDownloadContentSummaryThe Japanese economy has finally recovered from a decade of recession. According to the Japanese government's official report on its country's business cycle, the transition from contraction to expansion in the Japanese economy likely occurred near the start of 2002. Today, Japan is in the middle of the longest expansion period since World War Ⅱ. It is argued that Japanese firms played a large role in eliminating the major obstacles to economic recovery - i.e. excessive employment, equipment and debt. Moreover, the Japanese government is also said to have succeeded in facilitating economic recovery by improving the business environment. (The rest is omitted.) -
Issues and Evaluation of the Doha Development Agenda Negotiations until 2006: Korea's Perspective
The members of the World Trade Organization (WTO) agreed at Doha, Qatar, in November 2001 to launch the Doha Development Agenda (DDA) for multilateral negotiations to reduce the use of trade-distorting policies and bolster the dev..
Jin Kyo Suh et al. Date 2006.12.29
Economic development, Economic cooperationDownloadContentSummaryThe members of the World Trade Organization (WTO) agreed at Doha, Qatar, in November 2001 to launch the Doha Development Agenda (DDA) for multilateral negotiations to reduce the use of trade-distorting
policies and bolster the development relevance of WTO. The Doha Agenda spans numerous issues, including the reduction of agricultural support policies, market access liberalization for good and services, and strengthening of WTO rules and dispute settlement procedures. (The rest is omitted.) -
Overall Strategy for Korean ODA Reform
Overall Strategy for Korean ODA ReformYul Kwon, Han Sung Kim, Bokyeong Park, Jooseong Hwang, and Sooyeon Hong Korea, as an emerging donor in the international community, has been providing ODA since the late 1980s. Although its vo..
Yul Kwon et al. Date 2006.12.29
Economic development, Economic cooperationDownloadContentSummaryOverall Strategy for Korean ODA Reform
Yul Kwon, Han Sung Kim, Bokyeong Park, Jooseong Hwang, and Sooyeon Hong
Korea, as an emerging donor in the international community, has been providing ODA since the late 1980s. Although its volume of ODA has been modest, the Korean government has made an effort to use its limited resources effectively. Since entering the OECD in 1996, the Korean government has further committed itself to increasing the amount of ODA. (The rest is omitted.) -
Trade Facilitation in APEC: Economic Impacts and Policy Options
APEC Leaders at the 14th APEC Economic Leaders' Meeting held in Hanoi on 18~19 November 2006 welcomed and endorsed the 'Hanoi Action Plan to Implement the Busan Roadmap towards the Bogor Goals,' which is a comprehensive set of spe..
Date 2006.12.29
Economic cooperation, Trade policyDownloadContentSummaryAPEC Leaders at the 14th APEC Economic Leaders' Meeting held in Hanoi on 18~19 November 2006 welcomed and endorsed the 'Hanoi Action Plan to Implement the Busan Roadmap towards the Bogor Goals,' which is a comprehensive set of specific measures, schedules, and capacity building initiatives. Specifically, Leaders highlighted numerous steps taken to carry the Busan Business Agenda forward and welcomed the new trade facilitation framework that targets a further reduction of trade transaction costs by 5% in the APEC region by 2010. (The rest is omitted.) -
Regional Trade Agreements and Productivity Improvement
The underlying stance of Korea's external economic policy has been the strengthening of the multilateral trading system of GATT/WTO. (The rest is omitted.)
Hongshik Lee et al. Date 2006.12.29
Economic integration, productivityDownloadContentSummaryThe underlying stance of Korea's external economic policy has been the strengthening of the multilateral trading system of GATT/WTO. (The rest is omitted.) -
Policy Direction for Mutual Recognition of Medical Professionals: Comparing Licensure System of Korea and the United States
Jeong Gon Kim Date 2006.12.29
Economic integration, Free trade -
Conditions for the Successful Establishment of East Asian Economic Integration: An Institutional Approach
1. Economic Integration in East Asia and 'Institutionalization' The subject of this research is to find out the methods of how to promote market integration in East Asia considering the experiences of the European Union. In its 56..
Cae-One Kim et al. Date 2006.12.29
Economic integration, Trade policyDownloadContentSummary1. Economic Integration in East Asia and 'Institutionalization'
The subject of this research is to find out the methods of how to promote market integration in East Asia considering the experiences of the European Union. In its 56 year old history from the Schuman Declaration in May of 1950, the EU has been the most successful, and in a sense the only successful example of regional economic integration. (The rest is omitted.) -
Global Imbalances and the US Debt Problem: Should Developing Countries Support the US Dollar?
The contributing authors to this book have provided highly interesting analyses and policy recommendations. Their analyses are geared toward both the functioning of the world economic system as well as at the question of what indi..
Jan Joost Teunissen et al. Date 2006.12.26
Economic cooperation, Monetary policyDownloadContentAcknowledgements
Notes on the Contributors
Abbreviations
1. Should Developing Countries Support the US Dollar?
By Way of Introduction
2. Global Imbalances and Emerging Markets
Barry Eichengreen and Yung Chul Park
3 Global Imbalances and Latin America: A Comment on Eichengreen and Park
Barbara Stallings
4 The Dilemmas and Dangers of the Build-Up of US Debt: Proposals for Policy
Responses
Jane D'Arista and Stephany Griffith-Jones
5 Currency Asymmetry, Global Imbalances, and Rethinking of the International
Currency System
Fan Gang
6 China's Macroeconomic Imbalances: The Liquidity Tango Mechanism
Wing Thye Woo
7 How Effective Is Monetary Policy in China? A Comment on Woo's "Inflationary
Tango"
Zdenk Drábek
8 Asian Monetary Coordination and Global Imbalances
Yonghyup Oh
9 Understanding Imbalances in a Globalised International Economic System
Jan A. Kregel
10 Policy Recommendations for the US, Europe and Asia: By way of Epilogue
Jan Joost Teunissen
SummaryThe contributing authors to this book have provided highly interesting analyses and policy recommendations. Their analyses are geared toward both the functioning of the world economic system as well as at the question of what individual countries and regions can do to resolve the US deficit and global imbalances problems. Several authors have reminded us of the need of more in-depth analysis of the causes of global imbalances. -
Cooperation among APEC Member Economies:An Interdisciplinary Approach of Economic and Cultural Perspectives
APEC Member Economies have devoted themselves to achieving sustainable economic development in the region by reconciling heterogeneity in economic and cultural aspects. However, comprehensive studies encompassing both economic and..
Hwy-Chang Moon et al. Date 2006.11.30
Economic cooperationDownloadContentExecutive Summary
I. Introduction
II. Previous Studies on APEC Member Economies
III. The Competitiveness Model
The Economic Model
The Cultural Model
IV. Data and Methodology
Data
Methodology
V. Results
Overall Competitiveness
Country Groups
Competition and Cooperation
VI. Discussion
Inter-group Cooperation
Intra-group Cooperation
VII. Policy Suggestions
VIII. Conclusion
ReferencesSummaryAPEC Member Economies have devoted themselves to achieving sustainable economic development in the region by reconciling heterogeneity in economic and cultural aspects. However, comprehensive studies encompassing both economic and cultural perspectives that suggest a way of mutually beneficial development are difficult to find. For a more accurate analysis on cooperation among APEC Member Economies, we, therefore, need a more comprehensive framework that deals important variables in various areas, including the cultural factors.
For this purpose, this article studies the relationship and cooperation among APEC Member Economies through the following three stages. In the first stage, national competitiveness of Member Economies will be measured with a comprehensive model developed through exhaustive literature reviews on national competitiveness in both economic and cultural perspectives. In the second stage, the national competitiveness structures of Member Economies are analyzed by classifying them into four country groups depending on their national competitiveness structures. In the final stage, a mutually beneficial way of cooperation among Member Economies will be suggested with an in-depth consideration of the characteristics of each country group.
The results of the empirical analyses over the relationship among the 19 Member Economies in the economic and cultural perspectives suggest the way of both inter-group cooperation and intra-group cooperation, based on the complementarity of the national competitiveness structure and the complexity of factors comprising national competitiveness. Inter-group cooperation, which is based on the complementarity of the national competitiveness structure, refers to a cooperative relationship among economies in different country groups. Economies have competitive relationships with economies in the same country group, while the portion of upstream and downstream cooperation increases when compared with economies in other country groups. Therefore, Member Economies can enjoy cooperative relationships with economies outside their own country groups.
On the other hands, intra-group cooperation, which lays it basis on the complexity of the factors comprising national competitiveness, means the cooperative relationship among the economies within the same country group. Although competition prevails in the majority of the factors among the economies in the same country group, there is room for cooperation among the other factors that are not in a competitive relationship. This is because countries can also benefit from similarities. Together with the similarity in many factors, the dissimilarity in other factors enables countries to reap further competitiveness.
Cooperation among APEC Member Economies, therefore, can be fostered with the integration of inter-group cooperation and intra-group cooperation with consideration of both economic and cultural factors comprising national competitiveness. The complementarity of the national competitiveness structure and the complexity of factors comprising national competitiveness should be two corner stones for the establishment and implementation of effective policies with which all APEC Member Economies can enjoy the benefits of cooperation. When considering a way to spur cooperation among Member Economies, we can draw several implications from this study. Firstly, macro level policies to enhance the cooperation among the country groups analyzed in this paper should appropriately be derived with a full consideration of the unique characteristics of the economies in each group. Secondly, micro level policies to increase the cooperation among Member Economies within the same country group should be more carefully considered by taking into account both the similarity and dissimilarity of the sub-variables of competitiveness. Thirdly, each Member Economy should take an appropriate strategic position between macro and micro policies in accordance with its unique status of competitiveness structure. Lastly, in the process of establishing and implementing policies, balanced attention must be paid to the factors comprising national competitiveness from both economic and cultural perspectives.
Based on these implications, more detailed suggestions can be derived as follows. Firstly, the results of this study can be employed as a rationale for the feasibility of cooperation among APEC Member Economies and the raison d'être of APEC. Secondly, governments should implement more active and favorable policies to enhance both inbound and outbound FDI. Thirdly, each Member Economy should establish its unique strategy to enhance national competitiveness through cooperation with other Member Economies. Lastly, some Korea-specific implications can also be derived.
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