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Policy Reference
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Major Issues on Some Services Sectors in DDA Negotiations and Future Policy Directions: Legal,Audio-visual and Education Services
The Ministerial Declaration of the 4th WTO Ministerial Meeting at Doha in November 2001 annouced the launch of the Doha Development Agenda(DDA) to be completed by January 1st, 2005. This study seeks to analyze major issues on se..
June-Dong Kim et al. Date 2002.12.30
Multilateral negotiationsDownloadContentSummaryThe Ministerial Declaration of the 4th WTO Ministerial Meeting at Doha in November 2001 annouced the launch of the Doha Development Agenda(DDA) to be completed by January 1st, 2005.
This study seeks to analyze major issues on selected services sectors in DDA negotiations and recommend future policy directions. The three services sectors that we select, namely, legal, audio-visual and education services, are those sectors where foreign providers have not been allowed to freely operate in Korea and thus the DDA negotiations have significant implications for the Korean economy. In legal services, trading partners are expected to demand that foreign legal consultants (FLCs) be allowed to provide services and establish law firms in Korea in the area of consultancy on foreign laws and international laws. In response to this demand, the Korean government needs to establish a system of indemnity insurance to protect consumers. The culture industry, which encompasses Audio-visual services, has been deemed one of the most promising sectors of the 21st century. In the DDA services negotiation, some major trading partners requested that the issue of quantitative restrictions on foreign contents such as screen quotas and broadcasting programming quotas be addressed. According to the experiences of the United Kingdom and Canada, these quantitative regulations on foreign contents failed to yield the anticipated benefits of facilitating production of domestic contents. Furthermore, as technological progress increases the distribution channels of audio-visual services, quantitative regulations on contents will lose their effectiveness. Therefore, it is necessary to convert the current quantitative regulations towards a policy that regulates anti-competitive practices. In addition, subsidies to increase the opportunities or the screening of domestic movies and to support the related infrastructure and education of related personnel may be possible alternatives to quantitative restrictions. (The rest is omitted.) -
East Asian Economic Integration: Recent Development of FTAs and Policy Implications
With the development of transportation and communication links, barriers of physical distance are gradually lowered and the expansion of trade and investment promotes the integration of global economy at a faster speed. Recently E..
Inkyo Cheong Date 2002.12.30
Economic integration, Free tradeDownloadContentSummaryWith the development of transportation and communication links, barriers of physical distance are gradually lowered and the expansion of trade and investment promotes the integration of global economy at a faster speed. Recently East Asian countries have begun to scrutinize new vision of an East Asian economic cooperation and to consider various ways to execute such a vision. Until recently, Northeast Asian countries - China, Japan, and Korea- have not participated in any regional trade agreements. After the financial crisis, however, these countries began to show a great interest in establishing free trade agreements. In 1998, Korea announced its plan to proceed with an FTA with Chile and also began a joint study with Japan. In 1999, Korea began FTA negotiations with Chile and concluded it October 2002. In addition to the FTA with Chile, Korea has been doing joint researches on an economic effect the FTAs with Japan, New Zealand and Thailand would bring about. (The rest is omitted.) -
Strategic Alliances of IT Industries in Korea, China and Japan: With an Emphasis on Knowledge Networking
Strategic Alliances of IT Industries in Korea, China and Japan: With an Emphasis on Knowledge NetworkingYoo Soo HongThis study has three purposes. First, it identifies that the core of strategic alliances in the world today is the..
Yoo Soo Hong Date 2002.12.30
Technical cooperationDownloadContentSummaryStrategic Alliances of IT Industries in Korea, China and Japan: With an Emphasis on Knowledge Networking
Yoo Soo Hong
This study has three purposes. First, it identifies that the core of strategic alliances in the world today is the knowledge networking to share the world knowledge. Second, it attempts to derive policy implications from the trends and future challenges of strategic alliances among the three major Northeast Asian countries－Korea, China and Japan. Third, it recommends a new national grand strategy, the Northeast Asian IT Community (NAITC) Program and several policy measures for the implementation of the strategy in line with the development of strategic alliances among the three countries.The study is both theoretical and empirical. First, it renders a conceptual framework for the relationship between the knowledge-based economy, knowledge networking and strategic alliances. Then it reviews the trends and structural characteristics of strategic world alliances in the 1990s, referring to the reports and data recently published by the OECD. (The rest is omitted.) -
The Development of Korea-Japan FTA and the Japanese Distribution Barriers: From the Competition Policy Perspective
The study examines the Japanese distribution barriers as one of most important non-tariff barriers of the Japanese market and attempts to lead the implications on the Korea-Japan FTA, Free Trade Agreement, of it in terms of the co..
Yang-Hee Kim et al. Date 2002.12.30
Free tradeDownloadContentSummaryThe study examines the Japanese distribution barriers as one of most important non-tariff barriers of the Japanese market and attempts to lead the implications on the Korea-Japan FTA, Free Trade Agreement, of it in terms of the competition policy. (The rest is omitted.) -
The State of Land Ownership Reform in Russia
In 2001, Russia marked the 10th anniversary of the dismantling of the Soviet Union, which set in motion its transition to a market economy. Among the many achievements that can be considered in assessing the country's performance..
Yoo Jung Ha Date 2002.12.30
Economic reformDownloadContentSummaryIn 2001, Russia marked the 10th anniversary of the dismantling of the Soviet Union, which set in motion its transition to a market economy. Among the many achievements that can be considered in assessing the country's performance during the 10-year economic transformation, this paper focuses on land reform. Land reform has been seen as a cornerstone that marks private ownership, a market-based economy, and a favorable investment climate in transition economies; but it has never been an easy task due to political conflicts. This regional report focuses on the recent progress in land reform under the Putin Administration after a brief historical overview and suggests some remaining tasks that must be completed to activate the land market in Russia. (The rest is omitted.) -
The Recent Monetary and Fiscal Policies in Eurozone Countries
Although the European economy returned to growth in the first half of 2002 led by increasing exports, the upward trend in economic growth is still fragile. Improving exports led the upturn in the first quarter, benefited from stre..
Young-Gon Park Date 2002.12.30
Economic outlookDownloadContentSummaryAlthough the European economy returned to growth in the first half of 2002 led by increasing exports, the upward trend in economic growth is still fragile. Improving exports led the upturn in the first quarter, benefited from strengthening global activity, while domestic demand picked up modestly in the second quarter. However, the global outlook has recently weakened and become more uncertain, which already appears to be dampening European exports. (The rest is omitted.) -
Sustainability of the US Current Account Deficit and its Effects on the Korean Economy
The U.S. current account deficit has been increasing at an incredibly fast pace in recent years, reaching $393 billion in 2001, the equivalent of 3.9 percent of the GDP. The sharp growth of the current account deficit highlights t..
Moonsung Kang et al. Date 2002.12.30
Economic outlookDownloadContentSummaryThe U.S. current account deficit has been increasing at an incredibly fast pace in recent years, reaching $393 billion in 2001, the equivalent of 3.9 percent of the GDP. The sharp growth of the current account deficit highlights the dependence of domestic demand on borrowing from abroad. It implies that the external imbalance is related to the domestic imbalance between savings and investments, even though other factors such as productivity growth and investment booms in the New Economy also contributed to the current trend of the U.S. current account deficit. (The rest is omitted.) -
Exchange Rate Pass-Through in East Asia
Recently, in the new stream of open economy macroeconomics, a lot of attention has been focused on the analysis of pricing-to-market behavior, or local price setting behavior, to find if changes in the exchange rate have any effec..
Sammo Kang et al. Date 2002.12.30
Exchange rateDownloadContentSummaryRecently, in the new stream of open economy macroeconomics, a lot of attention has been focused on the analysis of pricing-to-market behavior, or local price setting behavior, to find if changes in the exchange rate have any effect on the behavior of final purchasers of goods. If nominal exchange rate changes are not fully passed through to goods prices, countries adopting a free floating exchange rate regime would not have to worry too much about a high level of exchange rate volatility. (The rest is omitted.) -
Measuring Tariff Equivalents in Cross-Border Trade in Services
Trade barriers in services do not take the form of import tariffs, but rather of a complex variety of quantitative restrictions, prohibitions and regulations. This paper attempts to measure tariff equivalents in 7 traded services ..
Soon-Chan Park Date 2002.12.30
Trade disputeDownloadContentSummaryTrade barriers in services do not take the form of import tariffs, but rather of a complex variety of quantitative restrictions, prohibitions and regulations. This paper attempts to measure tariff equivalents in 7 traded services for 51 countries by using a gravity model. It is shown that the gravity equation has great explanatory power not only in illustrating trade patterns in merchandise but also in services. Unlike previous studies, this paper shows that estimates of tariff equivalents are not systematically associated with a country's level of development. The EU countries have more open regimes relative to other industrialized countries. -
Korea's FDI into China: Determinants of the Provincial Distribution
This paper seeks to identify the major factors determining the location of Korea's FDI across 25 Chinese provinces, comparing the results with those of world FDI as a whole, and to understand why those factors are important. (The ..
Chang-Soo Lee et al. Date 2002.12.30
Overseas direct investmentDownloadContentSummaryThis paper seeks to identify the major factors determining the location of Korea's FDI across 25 Chinese provinces, comparing the results with those of world FDI as a whole, and to understand why those factors are important. (The rest is omitted.)
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