The joint research by Professor Woon-Joong Hwang and Dr. Kyong Hyun Koo empirically analyzes the impact of policy-based financing or financial constraints on the export performance of small and medium-sized enterprises (SMEs) in Korea. The study provides empirical evidence that export finance support can play a positive role for SME exporters facing financial constraints in the rapidly changing and uncertain international trade environment. The research is considered to make a significant policy contribution. Furthermore, the study is praised for making a substantial academic contribution by discovering the link between finance and exports, especially in a situation where data on export support policies for SMEs are lacking and micro and survey data are appropriately mixed.

As a quarterly journal published by KIEP, the East Asian Economic Review (EAER) annually announces the winner of its Best Paper Award with the aim of building a strong theoretical foundation for policy research and facilitating interdisciplinary research in the field of international economics and regional economic studies.

A total of 24 papers were judged for the 21st Outstanding Paper Award. In addition to the best paper, the paper by Min Hye Moon and Professor Yong Joon Jang of Kyunghee University entitled "The Effects of Strategic Goods Control on Productivity: The Case of Korea" took second place. The paper co-authored by Professor Jae Wook Jung of Sogang University and Research Fellow Hyunsoo Kim of KIEP entitled "Servitization and Manufacturing Firms' Performance: Korean Firm-Level Data" and the paper co-authored by Professor Kim Kyunghun Kim of Hongik University entitled "Revisiting a Gravity Model of Immigration: A Panel Data Analysis of Economic Determinants" were jointly selected as the third best papers.

KIEP has been publishing EAER to strengthen the theoretical foundation of Korea's foreign economic policy, while providing continuous academic support by selecting outstanding papers and providing incentives every year since 2001. 

- Title: 21st EAER Best Paper of the Year Award Ceremony

- Date & Time: January 15, 2024 (Monday), 13:30~14:00

- Venue: Korea Institute for International Economic Policy (KIEP) Conference Room

- Host: Korea Institute for International Economic Policy (KIEP)

- Contact: J.E. LEE, Senior Specialist, Planning and Coordination Team (lje@kiep.go.kr)