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Issues in Capital Account Liberalization in Asian Developing Countries
This paper discusses problems often faced by a country in the process toward a more open capital account and the policy responses to these problems. In the following sections, we begin to discuss the issues accompanied by a capita..
JaeJung Kwon Date 1995.12.01
Financial liberalizationDownloadContentContents
1. Introduction
2. Capital Account Liberalization and Capital Flows in Asian Developing Countries
2.1. Liberalization Process
2.2. Trends of Capital Flows
2.3. Other Causes for Increased Capital Movement in Asian Developing Countries
2.4. Internal / External Pressure toward Capital Account Liberalization
3. Issues of Transition
3.1. Speed and Sequencing
3.2. Macroeconomic Issues
3.3. Microeconomic Issues
4. Policy Mix
5. Conclusions
〈Appendix〉 Current Regulations on Capital Account
References
SummaryThis paper discusses problems often faced by a country in the process toward a more open capital account and the policy responses to these problems. In the following sections, we begin to discuss the issues accompanied by a capital account liberalization. The discussion in each section is followed by the actual episodes of capital account liberalization which focus on six Asian developing countries : Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand. Reviewing the kinds of problems these countries have been facing and the governments' responses to the problems, we will discuss the prospects on the financial opening of developing countries including other Asian developing countries. -
The Promotion of Economic Cooperation between Korea and Eastern
Gye-Pan Kim Date 1995.12.01
Economic cooperation -
Competition Policy in Major Countries Regarding Cooperative Research and International License
Jin-Soo Yoo Date 1995.11.29
Competition policy, Technical cooperation -
DownloadContentShort-term Prospects of the World EconomyEconomic Potential of ChinaPrerequisites for the Economic DevelopmentWTO and Korea’s EconomyWTO and International Economic RelationsGlobal Problems Related to Economic GrowthRegionalism in the World EconomyConditions for Korea’s UnificationPolicy Issues for Korea’s UnificationSummary
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Korea in the New World Economic Order : Issues and Solutions for the Future
1995 marks the 50th anniversary of the Republic of Korea's national independence. This years will also bear great historics significance as a unique moment in the world economics order. The World Trade Organization(WTO) was inaugu..
Date 1995.11.28
Economic developmentDownloadContentSummary1995 marks the 50th anniversary of the Republic of Korea's national independence. This years will also bear great historics significance as a unique moment in the world economics order. The World Trade Organization(WTO) was inaugurated on the first day of 1995, signifying the entire world community's firm commitment to a truely open and fair trading system. In the past 50 years, the Korea economy has achieved remarkable economic growth and development which was unprecedented in history. From a very poor and a war-devastated country, Korea has become one of the leading countries in the world economiy. Now, it is ranked 11th and 12th in the world in terms of GDP and trade volume respectively. It is well known that Korea's economic developement was based on an export-oriented industraializion strategy, and has benefited a lot from trade with other trading partners. In this respect, the embarkment of the WTO system will provide the Korean economy with more challenges as well as more opportunities. Under WTO, providing direct subsidies to domestic industries is prohibited, and new areas such as intellectual property right and services are also to be regulated. At the same time, however, the reduction of trade barriers under the WTO system will bring about a sizeable trade expansion effect, from which Korea's economy is expected to benefit. -
Chinese Ninth Five Year Plan and Long-term Development Plans to 2010
Co-authors Date 1995.11.10
Economic development -
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Economic Relations between South and North Korea under the WTO System
Sang-Man Lee Date 1995.10.11
Economic relations, North Korean economy -
Korea's ODA Policy
This paper outlines problems in Korea's foreign aid policy and suggests improvements through a comparison with advanced countries. Once a beneficiary of aid from advanced countries and international organizations, South Korea has ..
Chang-Jae Lee Date 1995.10.11
Economic developmentDownloadContentSummaryThis paper outlines problems in Korea's foreign aid policy and suggests improvements through a comparison with advanced countries.
Once a beneficiary of aid from advanced countries and international organizations, South Korea has become the 10th-largest economy in the world in terms of trade and investment. Korea's high levels of trade and investment have led it to become a donor rather than a recipient of aid.
Although Korea has had frequent economic interchanges with developing economies, its reach is still rather limited. Therefore, this paper suggests with Korea's entry into the OECD, it should build a foreign aid framework that strengthens its relationship with developing countries. This official development assistance is expected to change the relationship between Korea and other developing countries to one of mutual dependency, thus increasing Korea's international influence. -
Trade and Environment Related Issues: A Korean perspective
In trade, the environment has become a source of conflict, with economic development having negative effects on the environment. To mitigate these trade conflicts, multilateral environmental agreements are formed. Agreements on tr..
Taek-Whan Han Date 1995.10.06
Trade policy, Environmental policyDownloadContentSummaryIn trade, the environment has become a source of conflict, with economic development having negative effects on the environment. To mitigate these trade conflicts, multilateral environmental agreements are formed.
Agreements on trade and environmental are related to the following issues. First, multilateral trade regulations are used to protect the global and regional environments. Second, each nation's regional environment measures have influenced their trade.
This report emphasizes that during negotiations, it is important to discuss normative harmony between trade and environment. More than this, it is important to conduct analytical study on areas of the economy to reveal the correlation between the economy and the environment. Such studies would have a positive effect on negotiations and the overall well-being of the public.
What is more, this report implies that correlation analysis can have a substantial influence on international standards. Before this can happen, studies have to incorporate institutional and legal issues related to trade and the environment.
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