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On Korea: Academic Paper Series 2016

Publication: January 2017
Rajarshi Mitra

Exchange Rate Risk, Stock Transactions and Financial Integration: The Republic of Korea and Japan

This paper examines the short-run and long-run relation between volatility in the real effective exchange rate and stock returns in the Republic of Korea. A trivariate vector autoregressive model is estimated in which the Japanese stock market is included as a variable representing the influence of both international and regional…

North Korea Policy: Recommendations For The Trump Administration

Among the most important issues that will confront the new Trump administration is how to deal with North Korea. Before Mr. Trump leaves office, North Korea may achieve the capability of attacking the United States with nuclear weapons, a situation previous U.S. leaders have deemed unacceptable. President Trump’s policy needs…

A Fork in the Road? Korea and China’s One Belt, One Road Initiative

In 2013, two countries in East Asia launched their respective visions for an East-meets-West integrated region: China pronounced one of the most ambitious foreign economic strategies in modern times by any country, “One Belt, One Road” (OBOR), and South Korea launched the “Eurasia Initiative” (EAI). This paper examines the rationale,…

Vladimir Hlasny

Labor Market Rigidities and Social Inequality in Korea: The Role of Legal, Economic and Social Governance

This study explores the organization of the Korean labor market, systemic faults in it leading to undesirable outcomes and their determinants, and consequences for workers and employers. Long-term implications for the arrangement and cohesion of society at large are discussed. The study has three specific objectives: 1) to describe the…

The Middle East Reopens for Business but with Old and New Hazards for South Korea

The Middle East offers huge trade opportunities to South Korea, especially after the P5+1 agreement with Iran. President Park Geun-hye’s May 2016 visit to Iran has demonstrated this economic potential very clearly. However, Seoul should be aware that it is not the only state that is looking for business opportunities…

Authoritarian Regimes and Economic Sanction Effectiveness: The Case of North Korea

North Korea has been under several rounds of economic sanctions since the beginning of the Korean War in 1950. Economic coercion, however, has had no major effect on the Kim regime’s political stability and nuclear program. Drawing from the literature on the survival of authoritarian regimes and sanction effectiveness, this…