• Korea Trade Review
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• v.42 no.4
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• pp.1-20
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• 2017

This study is to investigate the dynamic relationship between international capital flows and won exchange rate to the major currency in Korea. As the results of Granger causality test, international capital flows Granger-cause currency rate volatility in the short term. However, over time, won exchange rate volatility Granger-cause international capital flows in Korea. According to the results by period divided based on 2008 financial crisis, international capital flows have the significant effects on won-dollar exchange rate volatility before 2008 crisis although currency rate volatility Granger-cause international capital flows after the crisis. As the results of impulse-response function of the basis of VAR, foreign exchange rate volatility has no connection with international capital flows before the crisis while it doesn't after. After the crisis, currency rate volatility has promoted international capital flows, while its influence diminishes as time passes. As these results, the uncertainty of foreign exchange market tend to influence the international capital flows rather than vice versa in Korea. Thus, it would be a more effective policy to control the uncertainty of market than the direct restrictions international capital flows.

• International Area Studies Review
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• v.20 no.4
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• pp.57-72
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• 2016

This Paper investigates the role of wealth distributions and Financial institutions of an economy on within-industry firm heterogeneity in productivity. If there is no Financial imperfection so that entrepreneurs are not constrained in borrowing all of them make the same, productivity-enhancing investment. International Trade industry average productivity also increases the avoidance of capital and international capital movements developing countries linked by lead industry cuts in global investing. International Trade of goods, on the other hand, amplifies this impact of capital mobility when capital structures the countries.

• Journal of the Korean association of regional geographers
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• v.12 no.2
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• pp.215-228
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• 2006

Because of the technological innovation of information-communication, the liberalization of world trade and the intensification of regionalisation, the world economic space is in progress of globalization that is not only a product but also a capital, technology and labour move freely over the countries. In the globalized economic space, the multinational finns accelerate a globalization of capital and labour by exporting the capital to the peripherals countries for the low cost of production and importing the low wage labour from the peripherals countries. East Asia which appeared one of the world triad economic axis with a rapid regional economic growth after 1980's intensifies the regionalisation of capital and labour. As the increase of gap in cost of production and income level among the countries, not only the direction of flows of capital and labour but also the traits of migrant labour also changes remarkably.

• Proceedings of the Korean Association for Survey Research Conference
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• 2000.11a
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• pp.65-91
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• 2000

국제적으로 국가간의 거래가 활발해지고 자본이동이 자유화되면서 부패문제는 더 이상 특정지역의 문제로 국한되지 않고 국제적으로 큰 파급효과를 야기하고 있다. 세계 각국은 부패로 인한 윤리적.경제적 폐해를 방지하기 위해 OECD 부패방지협약이라는 국제규칙을 마련하였다. 본 연구에서는 부패방지협약의 구체적인 내용과 후속 및 이행조치를 검토하고, 한국 기업인들의 부패인지도 조사를 통해 이러한 국제적 상황에 대처하고 기업부문에서 부패를 척결할 수 있는 방향을 제시하였다. 조사결과 한국 기업인들은 부패라운드에 대하여 거의 인식하지 못하고 있었으며 그에 대한 대응조차도 이루어지고 있지 않았다. 기업문화 역시 부패가 발생할 가능성을 내포하고 있어 기업인의 의식 전환이 필요하였다. 그러나 문화의 인위적 변화 가능성은 의문의 여지로 남는다.

• International Area Studies Review
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• v.21 no.4
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• pp.125-139
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• 2017

This study analyzes the determinants and patterns of regional migration in Myanmar. Population migration is affected by various factors such as economic and social factors as well as regional characteristics. It is affected by factors such as income, employment and social overhead capital. Therefore, this study attempts to analyze the following two research problems. First, I would like to analyze whether the reform and opening of Myanmar is causing the migration of rural to urban population. Myanmar is also trying to verify the pattern of population migration experienced by other developing countries. Second, we analyze the impact of social overhead capital on population migration in Myanmar. We analyze the impact of basic infrastructure such as roads, electricity and water on population movements. This will give implications for investment policy decision of social overhead capital for balanced regional development. First, the pattern of population migration in Myanmar is shifting from rural to urban areas, as other developing countries have experienced. Myanmar's urban areas of Yangon and Mandalay have been analyzed as having migration. Second, the expansion of social overhead capital was found to have an impact. Social overhead capital such as roads and educational environments were analyzed to have the capacity to inhale the population. Especially, the educational environment of the region has a great effect on population migration. It is analyzed that education reform is an important policy issue for the balanced regional development of Myanmar. Fourth, employment opportunities were analyzed to have the greatest impact on Myanmar population movements. In the early stage of economic development, it is analyzed that the population moves to a region where employment opportunity is high in the situation where foreign capital is coming in. It is analyzed that the direction of inflow of foreign capital and the imbalance of development in the region will be determined in the situation where the economic development is carried out through foreign capital.

• Environmental and Resource Economics Review
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• v.8 no.1
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• pp.95-129
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• 1998

한국은 1990년대에 들어서면서 자본이동을 자유화함에 따라 환율의 급격한 변동을 경험하고 있으며 이로 인하여 원유수입가격(原油輸入價格)의 변동을 경험하고 있다. 본 연구는 이러한 원유수입가격의 변동이 수출입에 주는 효과를 분석하기 위하여 1990년부터 1996년까지의 수요 중심의 월별 거시모형을 구축하여 국제원유가격변동으로 인한 원유수입가격 변동효과와 환율 변동으로 인한 원유수입가격 변동효과를 분석하였다. 분석 결과에 의하면 수출의 경우 국제원유가격 상승시는 단기에 -0.06% 감소하다가 그 효과가 없어지는 데 비해, 환율 상승시는 단기에 -1.84% 감소하다가 장기에 0.36%까지 증가하는 J-curve 현상을 보이고 있다. 원유수입(原油輸入)의 경우 국제원유가격 상승시는 원유(原油)가 비경쟁적 수입이므로 단기에 3.91% 증가하여 장기까지 그 수준을 유지하며, 환율 상승시는 수출과 산업생산의 영향으로 단기에 -7.5%까지 감소하다가 점차 증가하여 장기에는 0.39%까지 증가하는 추세를 보이고 있다. 원유외수입(原油外輸入)의 경우도 국제원유가격 상승시에는 장기에 -0.35% 감소하나 환율 상승시에는 수출과 산업생산의 영향으로 단기에 -4.60%까지 감소하고 장기에는 -0.15% 감소하고 있다. 결국 원유를 포함한 수출입은 국제원유가격 상승시보다 환율 변동시 더 큰 변동을 보이고 있음을 알 수 있다.

• KDI Journal of Economic Policy
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• v.17 no.4
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• pp.3-61
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• 1995

기업활동의 범세계화(汎世界化), WTO 출범 등으로 세계경제(世界經濟)의 통합(統合)과 무국경화(無國境化)가 진행되고 있다. 이에 따라 자본 고급인력 등 국제이동성(國際移動性)이 높은 자원들이 유동화(流動化)할 것이고, 그 결과 토지, 사회간접자본, 미숙련 노동력, '경기규칙', 사회 전반적인 과학기술수준, 문화 등 국제이동성(國際移動性)이 낮은 광의(廣義)의 생산요소(生産要素)들이 한 나라의 경제적 특성을 결정하고 경제 기반을 이룰 것이다. 무국경시대(無國境時代)에는 자원배분뿐 아니라 자원유치(資源幽致)가 한 나라의 경제성과에 큰 영향을 미칠 것이며, 따라서 자원유치가 경제운영의 중요한 과제로 등장할 것으로 예상된다. 자원의 국제적(國際的) 유동화(流動化)는 국제이동성(國際移動性)이 높은 생산요소들이 국제이동성이 낮은 생산요소들을 찾아 경제활동의 근거지를 선택하는 것이므로, 무국경시대(無國境時代)에는 저이동성(低移動性) 생산요소(生産要素)들의 양적(量的) 확충(擴充)및 질적(質的) 수준(水準) 제고(提高)를 통한 자원유치(資源誘致)의 가능성이 커지며, 따라서 일부 첨단기술산업의 육성보다는 전반적인 과학기술(科學技術) 수준(水準) 제고(提高)가, 소수의 고급인력 확보보다는 다수(多數) 미숙련(未熟練) 인력(人力)의 질적(質的) 수준(水準) 제고(提高)가 경제성과를 높이는 데 상대적으로 더 중요해진다. 또한 경제적(經濟的) 무국경화(無國境化)는 국적에 관한 속인주의(屬人主義)의 퇴조와 속지주의(屬地主義)의 보편화, 한 나라 국경 안에 상이한 특성을 가진 지방경제(地方經濟)들의 부상, 국내 산업들 사이의 산업연관관계(産業聯關關係) 약화(弱化) 등의 변화를 수반할 것으로 예상된다. 이같은 변화로 개방주의(開放主義) 및 무차별주의(無差別主義)의 확대(擴大)가 불가피하게 되고 특정 산업에 대한 정부지원 및 보호의 근거가 약화되는 반면, 자원배분의 참고단위로서 개별(個別) 경제주체(經濟主體)들의 중요성이 높아지며 그만큼 시장경쟁을 지배하는 '경기규칙(鏡技規則)'의 올바른 정립이 중요해진다. 그러므로 정부는 자원배분에 대한 개업을 축소하고, 저이동성(低移動性) 생산요소(生産要素)들의 양적 질적 수준 제고, 특히 '경기규칙(競技規則)'의 공정성(公正性) 및 투명성(透明性)을 높여야 한다. 즉 정부가 폐쇄성 높은 경제의 지배인으로부터 개방(開放)된 시장경제(市場經濟)의 후견인으로 바뀌어야 한다. 이것이, 시장질서(市場秩序)가 우리를 먹여 살리는 손이라는 인식이나 국제분업(國際分業)이 살 길이라는 확신이 부족한 우리 사회에 무국경시대(無國境時代)가 던지는 어려운 도전(挑戰)이다.

• International Area Studies Review
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• v.13 no.2
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• pp.117-144
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• 2009

This paper analyzes how Korea's trade intensity with major ASEAN countries changed from 2000 to 2005. For this purpose, we measured the trade intensity index, the trade complementarity index, and the special country bias index between Korea and ASEAN countries by the trade intensity index model developed by Yamazawa (1970). The OECD trade matrix was used as data. We found that Korea's trade intensity with Indonesia increased from 8.91 in 2000 to 10.88 in 2005 due to a considerable increase in Korea's special country bias with Indonesia from 9.58 in 2000 to 10.75 in 2005. Therefore Korea's special country bias with Indonesia should be enhanced further by increasing capital movements and reducing discriminatory tariffs and other import restrictions between Korea and Indonesia. It was also found that trade intensity between Korea and other ASEAN countries (i.e., Malaysia, Philippines, Singapore, and Thailand) shows a similar pattern of the above trade intensity between Korea and Indonesia except the trade complementarity.

• International Area Studies Review
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• v.15 no.1
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• pp.267-288
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• 2011

As world trade becomes more active and expansive, job mobility has progressed correspondingly in growth. In particular, high-skilled scientists (including advanced-degree holders) now possess the option of various occupational and residential mobilities. We explain the "brain drain" by using two empirical examples. One concerns the U.S. experience of foreign-born Ph.D holders living and working in the United States. The other pertains to the Korean experience, where Korean-origin and foreign-born experienced scientists are actively recruited by the government. We also explore the necessary conditions for recruiting and keeping advanced-skilled scientists, the attainment of which will result in strong future economic growth.

• International Area Studies Review
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• v.14 no.1
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• pp.3-29
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• 2010

The purpose of this paper is to examine the transmission of domestic and foreign real and monetary disturbances into a small country with heavy imports of intermediate goods, and to analyze how the wage indexation in a small country affects the transmission of foreign disturbances into a small country. We consider the two countries, a small country and the rest of the world, two goods, and rational expectations world model under flexible exchange rate system with perfect capital mobility. We find out that foreign disturbances are transmitted into a small country through the price channel, the foreign output multiplier channel, and the nominal interest rate channel, and the foreign real balance channel. We have conducted an empirical investigation by using the Korean data for a small country and the U.S. data for a large country to see how real and monetary disturbances originating from the US affects the Korean economy with wage indexation.