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  • 무역과 경쟁정책 : OECD의 논의
    Trade and Competition: OECD's Perspective

    Chung-Soo Kim Date 1993.12.27

    Competition policy, Trade policy
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  • UR 총점검 : 최종협정의 분야별 평가
    Uruguay Round: Sectoral Evaluation of the Final Agreement

    Trade negotiators 117 nations reached an agreement on the Uruguay Round (UR) agreement in Geneva, Switzerland, in 1993 after the launch of UR in 1986. The UR was designed to formulate multilateral trade standards and liberalize tr..

    Co-authors Date 1993.12.27

    Multilateral negotiations
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    Trade negotiators 117 nations reached an agreement on the Uruguay Round (UR) agreement in Geneva, Switzerland, in 1993 after the launch of UR in 1986. The UR was designed to formulate multilateral trade standards and liberalize trade, regulating the world trade system in the 1990s.

    The UR agreement attempts to reconstruct GATT, but a series of threats to GATT formation developed in the process of negotiation. The Cold War system collapsed and regionalism spread rapidly all over the world with the European Community integration and the formation of the North American Free Trade Agreement.

    Therefore, as with GATT, having legal binding force to some extent, the World Trade Organization was founded to meet the call of the times.
    This report suggests that due to Korea's high foreign dependence and small economy, it needs strong multilateral trade formation.
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  • 파키스탄편람 1993
    Handbook on Pakistan

    Ju-Won Lee Date 1993.12.22

    Economic development
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  • 쿠바편람 1993
    Handbook on Cuba

    Young-Ho Park et al. Date 1993.12.10

    Economic development
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  • Tax Implicantions of International Capital Mobilty
    Tax Implicantions of International Capital Mobilty

    The paper begins with a discussion of tax neutrality in an open economy. The focus is on the distinction between taxation based on the ownership of capital and taxation based on the location of capital. Even at this conceptual sta..

    Joo-Sung Jun Date 1993.12.01

    Capital market, Tax system
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    1. Tax Neutrality In an Open Economy
    A. Source-based Taxation and Capital Import Neutrality
    B. Residence-based Taxation and Capital Export Neutrality
    C. Implications for Optimal Tax Policy and Policy Coordination

    2. The Taxation of Foreign Source Income

    3. Tax Distortions to International Investment
    A. The Effects of Foreign Tax Credits and Tax Deferrals on the Effective Tax Rate on Foreign Source Income
    B. The Effectiveness of Investment Incentives
    C. Tax Effects on Financing Decisions
    D. Tax Effects on Multinational R&D Decisions
    E. Relative Tax Advantage of a Portfolio vs. Direct Investment

    4. Implications for Korean Tax Policy
    A. Incentives in the Tax Laws
    B. Tax Treaties
    C. Tax Policy Concerning the Form of Foreign Investment
    D. Summary of Policy Implications

    〈References〉
    Summary
    The paper begins with a discussion of tax neutrality in an open economy. The focus is on the distinction between taxation based on the ownership of capital and taxation based on the location of capital. Even at this conceptual stage, tax implications of moving from a closed economy to an open economy can be dramatic. The greater the mobility of financial capital among countries, the greater are the opportunities for international tax arbitrage. Efficiency considerations may require highly unrealistic constraints on the optimal tax rates such as uniform taxation, exemplifying the difficulty of international tax coordination.
    The actual tax treatment of foreign source capital income is quite complex. There exist many other sources of distortion than can be described in a stylized theoretical framework. The efforts by countries to relieve double taxation of foreign source income are often incomplete and asymmetric across income types. The tax treatment of multinationals is extremely complicated, influencing both their real and financial behavior. The existence of alternative forms of international capital flows creates additional complications. Foreign direct investment faces a very different statutory tax treatment than foreign portfolio investment. The role of tax treaties and investment incentives in attracting foreign investment is not as clear as generally perceived. The rest of the paper addresses practical aspects of taxing international capital income.
    The organization of the paper is as follows: Section 1 analyzes the basic principles of tax neutrality in the presence of international capital mobility. The most standard practices of taxing foreign source income are summarized in section 2. Section 3 discusses various tax effects on international investment and financial behavior, while their implications for Korean tax policy are presented in section 4.
  • Leveraging Technology for Strategic Advantage in the Global Market : Case of the..
    Leveraging Technology for Strategic Advantage in the Global Market : Case of the Korean Electronics Industry

    Today, Korea is the third largest producer in the world of consumer electronic products and components, and Korean electronics have become the world's third largest industry. It is also the third largest exporter of consumer elect..

    Yoo-Soo Hong Date 1993.12.01

    Industrial policy
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    I. Introduction

    II. History of the Korean Consumer Electronics Industry

    III. International Competitiveness of the Korean Electronics Industry

    IV. Technology Transfer and Technological Dependence

    V. Concluding Remarks

    References
    Summary
    Today, Korea is the third largest producer in the world of consumer electronic products and components, and Korean electronics have become the world's third largest industry. It is also the third largest exporter of consumer electronics, but ranks fifth with the inclusion of components and re-exports.
    In 1970, Korea sold 55 million U.S. dollars worth of electronics to the world market. In 1992, two decades later, that figure has skyrocketed to 20.7 billion U.S. dollars, over 6 percent of the world market. Despite growing trade restrictions by the U.S. and by the EC, Korean-manufactured personal computers and VCR's now occupy an impressive share of their respective markets all around the globe, with exports representing more than three-quarters of total production.

    Methodological Questions
    Why has the Korean electronics industry-an obvious latecomer-been so successful? Can this trend continue? And what lessons does this specific case provide, if any, for other industrializing nations?
    These are the issues which will be discussed in this paper. But in order to gain a better appreciation for the complexities involved in these topics, one must first understand what has made the consumer electronics industry unique from other industries in recent Korean history.
  • Changing Patterns of Korea’s Trade in Goods and Sevices
    Changing Patterns of Korea's Trade in Goods and Sevices

    Korea has achieved rapid economic growth with its export-oriented industrialization policy since the 60's. The average annual growth rate of Korea's real Gross National Product(GNP) during the 1962-1992period was almost 8%, and th..

    Jin-Soo Yoo Date 1993.12.01

    Trade policy
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    I. Introduction

    II. Changing patterns in Korea's merchandise trade
    1. Exports and imports by commodity
    2. Exports and imports by country

    III. Changing patterns in Korea's trade in services
    1. Trade in services
    2. Technology trade

    IV. Prospects

    Reference
    Summary
    Korea has achieved rapid economic growth with its export-oriented industrialization policy since the 60's. The average annual growth rate of Korea's real Gross National Product(GNP) during the 1962-1992period was almost 8%, and the average annual growth rate of Korea's real GNP in the late 80's was above 10%. In 1992, Korea's per capita GNP became US$ 6,749, which is more than 77times of that in 1962.
    Unfortunately, Korea could not maintain its trade surplus. which was attributed to the considerably weakened competitiveness of Korean products. The trade surplus in the late 80's resulted in the appreciation of the Korean won and severe labor disputes caused wage increases. The Korean won appreciated by as much as 24% in the late 80's, and wages doubled during the same period.
    Recently, economic recession in developed countries is working against Korean exports. Protectionist sentiments are prevailing in major countries as well, because of the high unemployment rate in these countries. Korea is also experiencing difficulties in acquiring high technology and in attracting foreign direct investments. Accordingly, the growth rate of Korea's exports, especially to developped countries, dropped recently. The average annual growth rate of exports during the 1989-1992 period recorded 6.0%, which is considerably lower than the 80's. The average annual growth rate of imports, on the other hand, recorded 12.3% during the same period.
  • The Asian Dimention of EC Integration: Problems and Prospects
    The Asian Dimention of EC Integration: Problems and Prospects

    The Korea Institute for Internatioal Economic Policy (KIEP), in collaboration with the Friedrich-Ebert-Stiftung (FES) of Germany, organized the international seminar on "The Asian Dimension of EC Integration: Problems and Prospect..

    Bak Soo Kim Date 1993.12.01

    Economic cooperation
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    The Korea Institute for Internatioal Economic Policy (KIEP), in collaboration with the Friedrich-Ebert-Stiftung (FES) of Germany, organized the international seminar on "The Asian Dimension of EC Integration: Problems and Prospects" on November 10-11, 1993 in Seoul.
    This seminar gathered a number of distinguished scholars and specialists from the EC and Asian countries, who participated in efforts to share views on the issues and to develop new policy concepts that will help build foundations for further cooperative relationships between the EC and Asian countries.
  • Regional Context for Korea’s Dynamism
    Regional Context for Korea's Dynamism

    Korea's dynamism has put it in an important position to affect the Northeast Asian economy. With this in mind, a group of distinguished scholars from the U.S. and Korea participated in a seminar entitled, "Regional Context for Kor..

    Chang Jae Lee Date 1993.12.01

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    Korea's dynamism has put it in an important position to affect the Northeast Asian economy. With this in mind, a group of distinguished scholars from the U.S. and Korea participated in a seminar entitled, "Regional Context for Korea's Dynamism: Certainties vs. Uncertainties" on October 12, 1993 in Seoul. During this seminar, the challenges that lay ahead for Korea at the turn of the century were scruinized in for the purpose of developing new policy directions and enhancing Korea's economic role, especially in a regional context for the near future. The meeting provided a rich opportunity to exchange various political-economic perspectives for future progress.

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