KIEP: World Economy Brief (WEB) (Topic)最新文献

{"title":"Korea-China FTA in Its First Year and Effectuation","authors":"Kyu Yub Lee, Jounwon Lee, Min-Chirl Chung","doi":"10.2139/ssrn.2913374","DOIUrl":"https://doi.org/10.2139/ssrn.2913374","url":null,"abstract":"On 20 December 2015, the Korea-China Free Trade Agreement (FTA) entered into force. The Korea-China FTA would impact both economies' welfare in the long run, elevating it to a higher level compared to before the FTA was concluded. However, it must be pointed out that in the short run, trade activities between Korea and China might be affected by external/internal economic forces such as the persistent global trade slowdown and weak domestic economic growth, and non-economic forces such as THAAD and non-tariff barriers. Thus, it might be impetuous to examine the economic impact on the Korean and Chinese economies just a year after the Korea-China FTA was concluded. Nevertheless, it would be worth examining the positive changes that have occurred over the last year, and providing constructive suggestions to both countries in order to accelerate the materialization of the benefits of the Korea-China FTA. This article investigates the major changes after the Korea-China FTA in terms of trade of goods and services, digital trade, and investment. Section II covers a brief analysis of the trade of goods between Korea and China. Section III underscores the distinctive features of international digital trade between Korea and China. Section IV provides facts on trade in services and investment. The last section presents policy implications for the Korea-China FTA.","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128177632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Recent Development of Labor Mobility in the EU: Comparative Study on the British and German Cases","authors":"Yoo-Duk Kang, Youjin Lim","doi":"10.2139/ssrn.2772319","DOIUrl":"https://doi.org/10.2139/ssrn.2772319","url":null,"abstract":"A new trend of labor mobility has been emerging amid the varying economic conditions among EU members. Since the global financial crisis there have been diverging trends in labor market conditions in Europe. The unemployment rate in Southern Europe still remains at its record high, while Northern Europe maintains a relatively stable employment figure. Such diverging labor market conditions have been reflected on the labor movement within the EU. Countries such as Germany and the UK attract more immigrants to their job markets, while southern countries become ‘net exporters’ of their labor to other parts of Europe.A number of studies conclude that labor mobility within the EU is determined by income differences between the migrant departing and hosting countries. The distinctive business cycles between countries (i.e. unemployment gaps) are insufficient for explaining the intra-European labor movement. These empirical facts were well spotlighted under the arguments of an optimal currency area (OCA); the lack of labor mobility within the Euro area suggests that it is far from being qualified as an OCA. It was hardly expected that labor mobility would work as an ‘absorber’ in the face of asymmetric shocks. However, recent observations show that internal migration within the EU has been increasingly affected by the difference in unemployment rates between countries.","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"179 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122089675","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Russia's Economic Modernization Policy and Implications for Cooperation between Korea and Russia","authors":"Boogyun Kang, Jiyoung Min, S. Jeh","doi":"10.2139/ssrn.2771540","DOIUrl":"https://doi.org/10.2139/ssrn.2771540","url":null,"abstract":"The goal of Russia's economic modernization policy is to transform the economy, heavily dependent on energy exports, into an innovation-based economy. There are diverse views as to the achievements and limits of Russia's economic modernization policy. The Russian leadership considers the discussions over goals, policy directions and priority sectors of the modernization policy to be yet unfinished. Meanwhile, experts do agree in general that economic modernization is a laudable policy direction for sustainable development and that the government's willingness, efficient operation of the constituent mechanisms, improving the investment environment through intensive structural reforms, and promoting innovation of SMEs through political and financial methods are critical factors for the policy's success. Recently, the Russian government has shown a tendency to include economic reform tasks such as nurturing import substitute industries and SMEs in economic modernization policies. This reflects Russia's reality in which comprehensive reforms led by the government are urgently called for. The five sectors - energy efficiency, nuclear technology, ICT, space technology, and medical and pharmaceutical technology - are still Russia's key priority, and the industries are discussed as core agendas by the Council for Economic Modernization and Innovative Development, the control tower of the policy. Based on the findings of this study, measures for Korea-Russia cooperation in terms of Russia's economic modernization policy are suggested as follows. First, a Korea-Russia business forum for innovative venture companies should be held simultaneously when the Korea-Russia Joint Committee on Economic, Scientific and Technological Cooperation convenes. Second, it is necessary to open a Korea Innovation Center (KIC) in Moscow and set up cooperative relations with the implementing agencies of the economic modernization policy.Third, the next generation's human resources should be nurtured to enhance scientific and technological cooperation between Korea and Russia. Fourth, Russia's special industrial and innovative economic zones can be utilized as a platform for Korea-Russia cooperation. Fifth, launching a Korean-Russian portal site for economic modernization and innovation will be helpful in strengthening bilateral cooperation.","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129089957","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Korean Current Account Surplus and the Transmission of the Won-Dollar Exchange Rate","authors":"Seongman Moon, Yoon Sun Choi","doi":"10.2139/ssrn.2770239","DOIUrl":"https://doi.org/10.2139/ssrn.2770239","url":null,"abstract":"This paper empirically investigates the effects of exchange rate shocks on the variables of the primary interests, such as trade balance and current account, using the Korean data. The result shows that the effect of the won-dollar exchange rate on the current account is weak. This is because the effect of the won-dollar exchange rate on exports and imports are similar. We also examine the effect of the won-dollar exchange rate shock on Korea’s trade balance with major trading partners such as the US, China, Japan, and the European Union, respectively. The results show that the responses of the Korea-Japan and Korea-European Union trade accounts are weak and not statistically significant; but those from the Korea-US trade account and the Korea-China trade account are statistically significant.","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128887743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Global Imbalance: A Policy Mishap or a Rational Outcome? The Case of Korea","authors":"I. Lee","doi":"10.2139/SSRN.2770237","DOIUrl":"https://doi.org/10.2139/SSRN.2770237","url":null,"abstract":"Among multitude of issues, global imbalance has attracted more attention than may be warranted because it is perceived to be policy induced and constrain global growth, or a zero sum game in the sense of growing at another countries' expense. Yet many of those with a current account surplus face a rapidly aging population that motivates high savings to ensure consumption smoothing. Those with a deficit, on the other hand, may need to be there for the opposite reason. Thus, a current account imbalance could be a rational market outcome, rather than a policy induced market distortion.","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"121 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132739013","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Review on Korea, China and Japan's Comparative Advantage in the IT Services Sector: Focusing on Productivity Analysis","authors":"Seung Kwon Na, Hokyung Bang, Boram Lee","doi":"10.2139/ssrn.2770224","DOIUrl":"https://doi.org/10.2139/ssrn.2770224","url":null,"abstract":"This research attempts to draw the policy implication of cooperative activities among Korea, China and Japan based on an analysis on a comparative advantage of the IT service industry, focusing on productivity analysis. The results of the productivity (efficiency) analysis show that productivity gap exists between the three countries, but the gap is narrowing. The changing gap seems to result from a catch-up effect between countries and companies rather than technical advancement across the industry. In addition, a close look into the institutional framework which affects the productivity of IT services sector in Korea, China and Japan revealed five areas (introduction and enforcement of regulations, existing legal and regulatory frameworks, transparency of IT related policies, preferential treatment of home-grown technologies in the public sector, bureaucracy) that can prove to be excessive regulations on IT service companies. Based on the study results, this paper draws the policy implications for further cooperation among three countries. First, the three countries could cooperate in building a common data set for a more concrete productivity analysis. Second, the three countries could further cooperate in the industry level and lower the entry barriers for instance. Finally, the three countries could cooperate to upgrade the expertise of middle management and foster human resource development.","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129338582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Emergence of the Pacific Alliance and Implications for Korea","authors":"T. Lim, Siun Yi","doi":"10.2139/ssrn.2544178","DOIUrl":"https://doi.org/10.2139/ssrn.2544178","url":null,"abstract":"In June 2012, four Latin American countries on the Pacific coast (Chile, Colombia, Mexico, and Peru) declared the establishment of a new economic integration initiative within the region, and consequently launched the Pacific Alliance. Since then, it has been making rapid progress and is expected to open up new horizons in regional economic integration. Under recent circumstances in which existing regional communities, such as MERCOSUR (Southern Cone Common Market) and ALBA (Bolivarian Alliance for the Peoples of Our America), are faltering, the Pacific Alliance draws increasing attention from the world as it advocates open regionalism. Of the member countries of the Pacific Alliance, all four have already signed FTAs. The intention of these countries, however, is to deepen existing economic integration through the Pacific Alliance. Narrowing geographical distance by working on the joint project of transportation infrastructure and eliminating cross-border visa requirements to encourage freer movement of human resources are key pillars of their plan.","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116791907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"China's Long-Term Economic Reform: Perspectives and Implications","authors":"Pyeong Seob Yang, S. Na","doi":"10.2139/ssrn.2487716","DOIUrl":"https://doi.org/10.2139/ssrn.2487716","url":null,"abstract":"China has recognized sustainable economic growth and harmonious social development as long-term national development strategies and has concentrated economic policies on changing the ways of economic development, economic restructuring, improvement of people's lives. In particular, at the 3rd plenary session of the 18th-term Central Committee of the Communist Party of China (CCCPC), held last November 2013, China's new leadership expressed that they would carry out extensive economic reforms in the future.This study analyzes the content and forecasts of the directions of China's economic reform implementation in the eight categories of money market, marketization, public finance, tax system, prices, state-owned enterprises, labor, hukou system (household registration system), and international economy; presentation of implications for Korea and countermeasures that should be taken.","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123498398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Financial Supervisory and Regulatory Reform of the EU after the Global Financial Crisis","authors":"Yoo-Duk Kang, Kyuntae Kim, Tae Hyun Oh, Cheol-Won Lee, Hyun Jean Lee, Hee-Yul Chai","doi":"10.2139/ssrn.2320944","DOIUrl":"https://doi.org/10.2139/ssrn.2320944","url":null,"abstract":"1. History and Background of the EU's Financial Supervisory and Regulatory Reform 2. Supervisory and Regulatory Reform at the EU level 3. Supervisory and Regulatory Reform at the National level 4. The Future of the EU Banking Union and Implications","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"23 12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130807799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"20 Years of the Korea-China Economic Relationship: Retrospect and Prospect","authors":"Philip Pilsoo Choi, S. No, Min Suk Park","doi":"10.2139/ssrn.2320333","DOIUrl":"https://doi.org/10.2139/ssrn.2320333","url":null,"abstract":"Korea-China trade passing through the initial growth period (1992-1997), adjustment period (1998-2001), and second growth period (2002-2005), is now passing through its fourth phase, the stabilization period (2006-present). Although the scale of trade has increased, there is limited accessibility of Korean exports into the Chinese domestic market while processing trade still takes large share. - In the case of Korea’s trade with China, there is a strong connection with investment in China as an investment dependent export structure. However, following from the recent strengthening of local procurement by Korean business subsidiaries in China, there has been a decrease in the export inducement effect through investments. - Despite Korean shares in the Chinese import market holding second place after Japan at 9.6% as of 2011, shares in the domestic market are lower at 6.3% following Japan (11.3%), the US (9.1%), and Germany (7.5% in 2010). Korea’s investment in China, passing through the exploratory period (1989-1991), entrance period (1992-1997), adjustment period (1998-2001), growth period (2002-2008), and transition period (2009-present), has been diversified both in industry and region. However, there has been a recent decline. - After China’s admission to the WTO, the goals of Korea’s investment in China has changed from low-wage toll processing to the domestic market. In regards to industries, there has been a gradual transition from early light industries to heavy chemical industries, as well as a recent increasing focus on service industries. - In order to energize recent inactive investment, there is a need for policies that work to (a) cooperate to expand pioneering investments into the domestic market and (b) move the existing bases of production to the inland mid-western regions that are still needed by toll processing businesses, (c) establish and utilize new Korean industrial complexes, or (d) support the small and medium-sized enterprises which have business items to invest in China. There is an emerging need by both Korea and China to create a paradigm of mutually beneficial cooperation by concluding the FTA and uncovering new cooperative fields. - The reduction of tariffs and overcoming of barriers to entrance into the service industry, through the Korea-China FTA, can provide significant momentum for advancement into China’s domestic market. - In the finance and monetary area, Korea-China cooperation has not yet reached a level of real economy, however, in the future, if there is an increase in the international use of the RMB and a lowering of the barriers to the Chinese financial market, there will be a great increase in the possibility of actual cooperative endeavors. - In Korea’s 17 future growth engine industries and China’s 7 strategic industries, because of the abundance of overlap, there is a need to make a specific cooperative strategy according to areas where the two countries have its own strength and where the two coun","PeriodicalId":141085,"journal":{"name":"KIEP: World Economy Brief (WEB) (Topic)","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114700712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}