May 25, 2011

The Rocky Road for Modernizing the North Korean Economy

By Mr. Bradley Babson

Rocky roads conjure images of pitfalls and jarring bumps on a tortuous journey toward some desired destination, without assurance that some calamity will not bar...

May 25, 2011

Economic Policy Reforms in the Lee Myung-Bak Administration

By Tony Michell

Between winning the election in December 2007 and taking office in February 2008, Lee Myungbak and his administration sketched out a massive reform program that...

May 25, 2011

Engagement on the Margins: Capacity Building in North Korea

By Bernhard Seliger

The year 2008 saw a reversal of a long-lasting policy constellation in the international community visà- vis the Democratic People’s Republic of Korea (North Korea)....

May 25, 2011

Global Financial Crisis and the Korean Economy: Issues and Perspectives

By Pyo Hak-kil

The year 2008 will be recorded in world history as a year in which the global capitalist system was threatened as a consequence of the...

May 25, 2011

Korea’s Near-Term Economic Prospects and Challenges

By Leif Lybecker Eskesen, Subir Lall

Following several years of strong expansion, the Korean economy began losing momentum in the second half of 2008 in the wake of the stress engulfing...

May 25, 2011

North Korea and International Financial Organizations: Political and Economic Barriers to Cooperation

By Lee Sang-hyun

North Korea’s economy has been on the verge of collapse since the beginning of the second nuclear crisis in 2002 because of the international community’s...

May 25, 2011

Tax Reform in Korea

By Randall S. Jones

The tax burden in Korea—at 26 percent of gross domestic product (GDP) —was well below the average of the member countries of the Organization for...

May 25, 2011

The Wall Street Panic and the Korean Economy

By Kim Dong-hwan

There may have been no one who anticipated the bankruptcy of Lehman Brothers, once one of the top five global investment banks. The shocking news...

May 25, 2011

Impact of U.S. Financial and Economic Distress on South Korea

By Thomas F. Cargill

Korea’s economy in 2008 was adversely impacted by high commodity prices, especially oil, and by financial and real shocks started by the collapse of housing...

May 25, 2011

Financial Asia Rising: Asian Stock Markets in the New Millennium

By Karim Pakravan

The twenty-first century has already been dubbed the Asian century. Although this nomination may be premature, it is certain that its fi rst decade belongs...

May 25, 2011

The Graying of Korea: Addressing the Challenges of Aging

By Jerald Schiff, Murtaza Syed

This past year—2007—was another solid one for Korea’s economy. Buoyed by continued strong exports and a pickup in domestic demand, real GDP is estimated to...

May 25, 2011

The Roles of China and South Korea in North Korean Economic Change

By Mika Marumoto

The year 2007 demonstrated more clearly than ever that external economic engagement provides a chance to help convince North Korea to abandon isolation and take...