• International Area Studies Review
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• v.14 no.2
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• pp.61-78
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• 2010

The paper is basically attempted to reveal a possibility of monetary unification and setting an anchor currency in North East Asian economies such as South Korea, China, and Japan. The Cobb-Douglas utility function is tentatively built by a Walrasian economic framework. Korean Won(KRW) is represented for a numeraire in a structural model, and the estimation of a parameter is performed by 2SLS and GARCH-M models. Empirical evidence is found that not only monetary unification itself in this regime seems not to be practicable, but also setting an anchor currency by Chinese Yuan(CNY) or Japanese Yen(JPY) is also inappropriated due to the fact that the estimated parameter is not converged to a unity. Walrasian equilibria are enhanced by the convergence to a unity in the model. It also has to be mentioned that a number of necessary and sufficient conditions should be fulfilled prior to discuss a monetary unification in North East Asian economies. Instead, Asia currency unit(ACU) is more feasible in reality.

• 프린팅코리아
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• v.8 no.5
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• pp.58-65
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• 2009

지난해 인쇄업계의 인쇄물수출은 전년에 비해 20% 가까운 증가세를 보인 가운데 2억5천만 달러를 기록했다. 인쇄물수입은 2.6% 증가에 그쳤지만 금액으로 3억6352만 달러를 기록해 인쇄물의 무역수지는 1억 달러가 넘는 적자를 기록한 것으로 나타났다. 최근 수년간 인쇄물의 수출액이 2억 달러 수준에서 제자리걸음에 가까운 움직임을 보이고 있는 가운데 인쇄물의 무역 수지는 여전히 적자를 벗어나지 못하고 있는 현상이 고착화되지 않을까 하는 우려가 일고 있다. 더욱이 지난해처럼 달러화, 유로화, 엔화 등 기축통화에 대한 원화의 가치가 떨어지면서 수출에서의 가격경쟁력이 상대적으로 높아진 것으로 평가됨에도 불구하고 기대만큼의 높은 증가세를 보이지 못한 것은 아쉬움을 남기고 있다. 또한 대안 마련의 필요성도 대두되고 있다. 해외 마케팅 전문인력의 부족, 미흡한 정부 차원의 수출지원, 중국 등 후발국가에 대한 가격 경쟁 열세 등 우리 인쇄산업의 수출 확대에 가로 놓인 어려움이 적지 않지만 이런 어려움 가운데서도 인쇄물 수출에 아낌없는 노력을 기울여 나름대로의 성과를 거두고 있는 업체들도 있다. 긴 호흡으로 보아야 한다는 인쇄물 수출 분야에 단기간의 성과를 기대하며 도전하는 것은 금물이라는 말이 있다. 내수시장의 고질적인 어려움을 감안, 중장기적으로 수출시장의 개척에 대해 진지하게 모색하는 것은 이제 인쇄업계에 몸담고 있는 이라면 누구라도 공감할 과제의 하나로 다가오고 있다. 인쇄물 수출분야에서 성과를 거두고 있는 업체들을 만나 본다.

• International Commerce and Information Review
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• v.14 no.3
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• pp.31-47
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• 2012

The Eurozone was launched to set a goal on using the single currency perfectly in 1999. Using the Euro could get rid of exchange cost and cost of Foreign exchange risk management which was approximately 1% of each member's GDP. It was possible that members has maintained a stable level of inflation and stimulate investment and employment with low interest rate. In addition, they could lead to economic growth and investment as well as increase the Euro demand in financial market. Especially, members has used the Euro as the method of payment on trade each other so that the volume of trade among the Eurozone members has increased continuously which was called "the effect of single market." This paper analyzes the correlation between using the Euro and members' export/import by using random effect estimation and fixed effect estimation. As a result, Eurozone members can get export decreasing effect of 4.68% and import increasing effect of 10.5% respectively on average by using the Euro.

• International Area Studies Review
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• v.14 no.1
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• pp.203-219
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• 2010

Nowadays an instability of the exchange rate on accounts of global finance crisis brings on a lot of an economic damage such as recession, decreasing of total trade and so on. However some countries which belong to be membership of the eurozone could escape economic slump shortly and easier than others. The reason for this is that they share with the Euro as a their own currency which is the second vehicle currency all of the world. This paper analyzes the correlation of joining the Euro zone and trade with pooled OLS, random effect estimation, and fixed effect estimation. A membership of the Euro zone are able to increase trade 11.3% ~ 25.3% one another on average since some country belongs to the Euro zone. It is very important for some countries which have a plan to affiliate the Euro zone sooner or later to realize economic effect because of a protection of the Euro zone as well as political power.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.303-309
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• 2021

This study examines the effects of CBDC(Central Bank Digital Currency) on the Korean economy in the digital currency era and discusses the response strategies for CBDC. With the review of the definition and the development status of digital currency, we explore the characteristics and current status of CBDC in Korea as well as the possibility for internationalization of CBDC. The result shows that CBDC can reduce credit risk, improve transaction transparency compared to cash, and increases monetary policy capacity. Meanwhile, the credit and intermediary function of financial institutions may be weakened, and side effects such as financial alienation may occur. Nevertheless, as the issuance of CBDC is an important opportunity to enhance the possibility of internationalization of Korean Won, preemptive measures are required to keep pace with the competition and cooperation with each country toward the digital key currency. We need to accelerate the digital financial environment through Korea's comparative advantage, and develop a strategy to achieve the internationalization of the financial industry and the Korean Won through CBDC issuance. From the early stage of CBDC designing, it is necessary to achieve international agreements through cooperation with other central banks and to develop policies suitable for the transition to digital currency.