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Policy Reference

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  • 외국인투자에 대한 올바른 이해
    A Guide to Foreign Direct Investment

    This book seeks to enhance the general public's perception of foreign direct investment and promote awareness in the general public of the benefits of foreign direct investment. Furthermore, by explaining issues in dispute such as..

    Co-authors Date 2001.12.18

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    This book seeks to enhance the general public's perception of foreign direct investment and promote awareness in the general public of the benefits of foreign direct investment. Furthermore, by explaining issues in dispute such as foreign dominance of domestic firms and foreign acquisition at a giveaway price easily to understand and giving Britain's successful case, this book attempts to enhance public interest and understanding on foreign direct investment.
  • China’s Integration with the World Economy
    China's Integration with the World Economy: Repercussions of China's Accession to the WTO

    This book is the outcome of intense academic and policy debates at a round table conference held to assess the impact of China's accession to the WTO on the Chinese and world economies. The conference, held in Beijing on August 25..

    Kyung Tae Lee et al. Date 2001.12.15

    Economic opening
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    This book is the outcome of intense academic and policy debates at a round table conference held to assess the impact of China's accession to the WTO on the Chinese and world economies. The conference, held in Beijing on August 25 and 26, 2001, was organized by the Korea Institute for International Economic Policy (KIEP), a policy-oriented thinktank in Seoul, Korea. Some 30 distinguished scholars and policy makers from China, Korea, Japan and Hong Kong participated in the conference, exchanging views on issues related to China's entry into the WTO.
  • Aggregate Shock, Capital Market Opening, and Optimal Bailout
    Aggregate Shock, Capital Market Opening, and Optimal Bailout

    This paper explores the joint effect of aggregate productivity shocks and capital market liberalization on the optimal bailout (or liquidation) policy of banks towards defaulted borrowers. It suggests that in bad times both good ..

    Se-Jik Kim Date 2001.12.10

    Financial liberalization, Capital market
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    This paper explores the joint effect of aggregate productivity shocks and capital market liberalization on the optimal bailout (or liquidation) policy of banks towards defaulted borrowers. It suggests that in bad times both good and bad firms default on their obligations, it is harder for the bank to distinguish between the two and therefore it is less costly to bail out defaulted firms. Therefore, the optimal liquidation rate in a closed economy may be substantially lower in recessions than in booms. In an economy with open capital markets, however, the corporate rate of return has to be raised at least up to the world rate of interest by improving the composition of the corporate sector through higher liquidation in order to prevent an outflow of capital and the subsequent financial crisis. As a result, the optimal liquidation rate (bailout rate) during recessions may be much higher (lower) in an economy with liberalized capital markets than in a closed economy. The model in this paper explains why liquidation rates of defaulted firms have risen significantly and structural reform to facilitate more liquidation has been pursued after the financial crisis in those East Asian countries with more liberalized capital markets.
  • Reform of the Financial Institutions in China:Issues and Policies
    Reform of the Financial Institutions in China:Issues and Policies

    Executive SummaryThis paper analyzes the financial reform in China, given the characteristics of the transition economy. The Chinese financial system has certain characteristics including an overly rapid expansion of credit, a ban..

    Eui-Hyun Choi Date 2001.11.30

    Economic reform
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    Executive SummaryThis paper analyzes the financial reform in China, given the characteristics of the transition economy. The Chinese financial system has certain characteristics including an overly rapid expansion of credit, a bank-dominated financial system, weak central bank regulation and supervision of commercial banks, and a massive buildup of non-performing loans (NPLs). The Chinese financial sector has accumulated a huge number of NPLs. This is because i) banks are in charge of state projects in place of the fiscal system, and ii) financial institutions give loans to money-losing enterprises. China needs a coordinated reform of its financial, enterprise, and fiscal systems. (The rest is omitted.)
  • 중국 WTO 가입의 경제적 효과와 정책시사점
    Economic Effects of China's WTO Accession and Policy Implications on Korea

    This study aims to estimate the economic impact of China's accession to the WTO and to find policy implications for the facilitation of trade and investment between Korea and China. (The rest is omitted.)

    Inkyo Cheong Date 2001.11.30

    Economic outlook
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    This study aims to estimate the economic impact of China's accession to the WTO and to find policy implications for the facilitation of trade and investment between Korea and China. (The rest is omitted.)
  • 도하 아젠다 어떻게 할 것인가
    How to Cope with the Doha Agenda

    This book seeks to enhance the general public's perception of the Doha Agenda and to promote awareness in the general public of the benefits of foreign direct investment through giving concrete examples. Furthermore, by explaining..

    Co-authors Date 2001.11.20

    Economic opening
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    This book seeks to enhance the general public's perception of the Doha Agenda and to promote awareness in the general public of the benefits of foreign direct investment through giving concrete examples. Furthermore, by explaining issues in disputes related to the Doha Agenda, this book attempts to enhance public interest and understanding on foreign direct investment.
  • FTA시대에 어떻게 대처할 것인가?
    How to Cope with the Expansion of FTAs?

    The purpose of this paper is to give a general picture of Korea's FTA policy in terms of its background, current status and future challenges. Further, it suggests selection criteria for determining eligible FTA partners for Korea..

    Inkyo Cheong Date 2001.11.10

    Free trade
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    The purpose of this paper is to give a general picture of Korea's FTA policy in terms of its background, current status and future challenges. Further, it suggests selection criteria for determining eligible FTA partners for Korea and draws important implications on how Korea's future FTA policy should be developed.
  • 농산물 시장개방: 그 득과 실
    The Liberalization of the Agricultural Market: Advantages and Disadvantages

    This book seeks to enhance the general public's understanding of agricultural policies and to explain the WTO Agreement on Agriculture. This book therefore attempts to enhance public interest and understanding of the liberalizatio..

    Yoo Cheul Song Date 2001.11.07

    Economic opening
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    This book seeks to enhance the general public's understanding of agricultural policies and to explain the WTO Agreement on Agriculture. This book therefore attempts to enhance public interest and understanding of the liberalization of the agricultural market and important related issues.
  • 이제는 자유무역협정(FTA)의 시대다
    The Epoch of the Free Trade Agreement

    This book seeks to correct general public's imprecise perception of a Free Trade Agreement (FTA) and to promote awareness in the general public of the benefits of FTA. Furthermore, by explaining issues in dispute related to FTA ea..

    Inkyo Cheong Date 2001.11.05

    Free trade
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    This book seeks to correct general public's imprecise perception of a Free Trade Agreement (FTA) and to promote awareness in the general public of the benefits of FTA. Furthermore, by explaining issues in dispute related to FTA easily to understand, this book attempts to enhance public interest and understanding on FTA.
  • 무역개방화와 제조업부문의 변화
    Openness to Trade and Changes in Korea's Manufacturing Sector

    Openness to Trade and Changes in Korea's Manufacturing SectorSang-yirl Nam Since the Uruguay Round (UR) of the most recent multilateral trade negotiations, there have been substantial shift and spread of interests from lowering t..

    Sang-yirl Nam Date 2001.10.30

    Economic opening
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    Openness to Trade and Changes in Korea's Manufacturing SectorSang-yirl Nam

    Since the Uruguay Round (UR) of the most recent multilateral trade negotiations, there have been substantial shift and spread of interests from lowering tariff on manufacturing goods to reducing other barriers (nontariff as well as tariff) related to trade in agricultural products, services, intellectual properties and investment. The implementation of tariff concessions in the UR began in 1995 with the establishment of the WTO and was completed with some exceptions by January 1, 1999. Now we expect the launch of another round of multilateral trade negotiations, so called the New Round, for additional trade liberalizations in the near future. (The rest is omitted.)
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