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Working Papers
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A Study on the U.S. Financial Market Structure and Regulations
The purpose of this paper is to discuss the useful strategies for the internationalization of Korea's financial industry by analyzing the U.S financial market structure and regulations. Based on the U.S. experience of finance mana..
Jang-Yung Lee Date 1991.03.30
DownloadContentSummaryThe purpose of this paper is to discuss the useful strategies for the internationalization of Korea's financial industry by analyzing the U.S financial market structure and regulations. Based on the U.S. experience of finance management, this paper will address four issues.
This paper is organized as follows: Section 1 reviews the classification and function of the U.S. financial market, as well as its structural characteristic. Section 2 analyzes the financial products by field and main party, such as dealer. Section 3 reviews the evolution of the U.S. financial market regulations and its content by analyzing systematically the effect of regulations. Concluding remarks and policy implications are provided in Section 4. -
Exchange Rate Fluctuations of Major Currencies and Korea's Exchange Rate Policy
This paper analyzes the characteristics of the exchange rate fluctuations of major currencies in Korea and discusses the policy implications for its exchange rate system. The type of exchange rate regime has been at the center of ..
Chong-Man Kim Date 1991.03.01
Exchange rateDownloadContentSummaryThis paper analyzes the characteristics of the exchange rate fluctuations of major currencies in Korea and discusses the policy implications for its exchange rate system. The type of exchange rate regime has been at the center of economic debate due to economic globalization and liberalization. The choice of exchange rate regime has been regarded as critical to achieving sustainable economic growth and has important implications for the world economy.
While revaluation of the domestic currency results in decreased exports, a high unemployment rate and the distortion of overall production factor. Devaluation of exchange rate leads to the regulations of exports and the pressures of import liberalization from foreign countries, as well as price rise.
Accordingly, the Korean government should apply appropriate exchange rate policy in response to the currency crisis. The objective of this paper is to allow the government to participate in the foreign exchange market in a way that contributes to economic stability and promotes the development of the private sector's participation in foreign exchange. -
EC Integration and Its Impact on Korea's Policy Direction
This book is a compilation of the papers and comments from the 'Seminar on EC Integration and Its Impact on Korea's Policy Direction' organized by the Korea Institute for International Economic Policy. The European Community will ..
Chung Ki Min Date 1991.02.23
Economic integration, Exchange rateDownloadContentSummaryThis book is a compilation of the papers and comments from the 'Seminar on EC Integration and Its Impact on Korea's Policy Direction' organized by the Korea Institute for International Economic Policy.
The European Community will become the largest trading bloc in the world, and with the cataclysmic changes brought about by the collapse of the Soviet bloc and German unification, EC's role in the world economy is expected to grow further in the near future. This seminar provided an excellent opportunity to share views on the progress of the European economic integration and to deliberate Korea's policy implementations since the EC's market liberalization in 1992. -
North Korea's International Trade and Economic Cooperation Policies
Cheong-Mo Gang Date 1991.02.01
Trade policy, North Korean economy -
US-Japan Economic Friction and Korea's Policy Response
The purpose of this paper is to explain the background and recent history of U.S.-Japan economic friction and discuss Korea's policy response. This paper is organized as follows. Section II will review U.S.-Japan economic friction..
Heong-Goo Kang Date 1991.01.28
DownloadContentSummaryThe purpose of this paper is to explain the background and recent history of U.S.-Japan economic friction and discuss Korea's policy response. This paper is organized as follows. Section II will review U.S.-Japan economic friction focused on the imbalance of international accounts and industrial structure.
Section III will see the trend of U.S.-Japan economic friction such as trade goods dispute, up-to-date-technology, market open toward Japan and the change in policy response. Section IV will examine comprehensive policy cooperation and the effort of transforming policy between U.S.-Japan. Section V will investigate the closed structure of the Japanese economy, aggravating their trade disputes. Section VI will examine the background of structural agreement between U.S.-Japan and the prospects. Finally, based upon this, this paper will discuss the Korea's policy implications. -
Models of Exchange Rete Behavior : Application to the Yen and the Mark
As part of the effort to enhance our understanding of the actual movements of exchange rates under the floating exchange rate system, the purpose of this paper is to review the development of major exchange rate modeling in the pa..
Sung Yeung Kwack Date 1991.01.01
Exchange rateDownloadContentContents
1. Introduction
2. Select Exchange Rate Theories
3. Empirical Tests of the Models
4. Concluding Remarks
References
SummaryAs part of the effort to enhance our understanding of the actual movements of exchange rates under the floating exchange rate system, the purpose of this paper is to review the development of major exchange rate modeling in the past two decades and to build a better empirical model of exchange rate determination. This paper presents an empirical model of yen-dollar and mark-dollar exchange rates tested over the period from January 1976 to June 1990.
In section two, we will discuss major theories on exchange rate determination for industrial countries generated since the early 1970's to cast some light on exchange rate modeling. In section three, we discuss some of the empirical results of the theories of exchange rate determination applied to the yen-dollar and mark-dollar rates, and finally section four holds the conclusion of this paper. -
Studies on North Korea's Supply and Demand of Energy Sources
Young-Sik Chang Date 1991.01.01
North Korean economy, Energy industry -
Analysis of Japanese Strategies for Foreign Direct Investment and Internationalization of Its Industries
This paper suggests policy direction for the internationalization of Korean companies by analyzing the globalization process of Japanese companies and strategies for FDI. As there are worries that the microanalysis might not see t..
Sang-Rock Seo Date 1990.12.26
Overseas direct investmentDownloadContentSummaryThis paper suggests policy direction for the internationalization of Korean companies by analyzing the globalization process of Japanese companies and strategies for FDI. As there are worries that the microanalysis might not see the big picture, detecting the globalization strategy Japanese companies will be the most effective method for formulating national FDI policy.
The composition of this study is as follows. Section II reviews the meaning and type of management internationalization. Section III reviews the evolution of corporate strategy and systems. Section IV and V examines the trend and international status of Japanese FDI. Section VI analyzes Japanese strategies for foreign direct investment and internationalization of its industries. A summary and policy implications are provided in Section VII. -
Studies on the Liberalization of the Financial Systems in the US and Japan
Jang-Yung Lee Date 1990.11.01
Financial liberalization, Financial policy -