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Policy Reference

Publications

  • 소련의 대외무역 및 금융제도의 개혁
    Reform of Soviet Foreign Trade and Financial Systems Reform: Analysis and Prospects

    This report identifies the characteristic and development of reform of Soviet foreign trade and financial systems reform by analyzing its reform and by suggesting perspectives for that reform. This research consists of six major p..

    Je-Hoon Park Date 1991.04.01

    economic opening, free trade
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    Summary
    This report identifies the characteristic and development of reform of Soviet foreign trade and financial systems reform by analyzing its reform and by suggesting perspectives for that reform.
    This research consists of six major parts. In Part II, the current status and trends of Soviet foreign trade system is observed from a perspective of its changes during the period. The characteristics and problems of the conventional trade system are analyzed from such a historical basis. In Part III, the evolution and characteristics of the Soviet foreign trade system reform since Perestroika, which is the socialist reform ideology declared in April 1985, are observed. In this part, the reform of planned trade mechanisms and the reorganization of the foreign trade structure and its decentralization are clarified. In Part IV, the reform of the finance and foreign exchange system are analyzed. In Part V, Soviet foreign economic relationships are analyzed.
    The conclusion discusses the tasks and perspectives of the progress in Soviet foreign economic relationships.
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  • 중국의 외국인 직접투자 유치와 한국의 진출전망
    Foreign Direct Investment in China and Prospects for Korean Firms

    At the end of the 1980s, Korea's overseas direct investment increased rapidly as it had been achieving surpluses in the balance of payments. Korean firms move overseas for various reasons such as securing overseas markets and proc..

    Si-Joong Kim Date 1991.04.01

    foreign investment
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    At the end of the 1980s, Korea's overseas direct investment increased rapidly as it had been achieving surpluses in the balance of payments. Korean firms move overseas for various reasons such as securing overseas markets and procuring raw materials at lower prices in foreign countries. Degree of internal reforms, abundance of skilled labor, investment promoting policies, and ethnic ties in Chinese provines are crucial in attracting Korean FDI in this regard. However, their main objective is to reduce production costs.
    This paper reviews the recent trends in foreign direct investment in China and its accomplishments. Furthermore, several desirable strategies and policy implications for future Korean overseas investment are proposed.
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  • 미국금융시장의 구조와 규제제도
    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

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    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 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.
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  • 주요환율변동의 특성과 정책시사점
    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 rate
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    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 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.
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  • EC統合과 우리의 對應方案
    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 rate
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    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 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.
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  • 북한의 무역 및 대외경제
    North Korea's International Trade and Economic Cooperation Policies

    Cheong-Mo Gang Date 1991.02.01

    trade policy, North Korean economy
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  • 미일경제마찰과 우리의 정책과제
    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

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    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 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.
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  • Models of Exchange Rete Behavior : Application to the Yen and the Mark
    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 rate
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    Contents

    1. Introduction

    2. Select Exchange Rate Theories

    3. Empirical Tests of the Models

    4. Concluding Remarks

    References
    Summary
    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 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.
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  • 북한의 에너지 수요와 공급
    Studies on North Korea's Supply and Demand of Energy Sources

    Young-Sik Chang Date 1991.01.01

    North Korean economy, energy industry
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  • 일본기업의 해외직접투자와 국제화전략
    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 investment
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    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 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.
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