Bank of Korea Policy and the Asset Bubble Problem
Central banks have two responsibilities: (1) stabilize the value of the currency and (2) maintain public confidence in deposit money by limiting systemic risk. The…
Bankruptcy Policy Reforms and Corporate Restructuring in Postcrisis Korea
In the unfolding process of the Korean financial crisis in 1997, an inefficient corporate bankruptcy system played a damaging role in the Korean economy. Before…
Korea’s Economic Prospects and Challenges
Although Korea has seen its economic growth rates come down from the stratospheric heights of previous decades, it remains, by any advanced-country yardstick, a successful…
Korea-U.S. Economic Relations in 2005
Korea’s economy in the year 2005 demonstrated that it is picking up significant positive momentum, although the full-year performance in 2005 showed mixed results. Korea’s…
Reforming the Pension System in Korea
Korea is in the midst of the most rapid demographic transition of any member country of the Organization for Economic Cooperation and Development (OECD); the…
Korea’s Postcrisis Exchange Rate Policy
There are few areas about which there is a greater range of opinions among international monetary experts than the issue of exchange rate regimes. Eminent…
Recent Developments in Korea’s Financial Markets: Foreign Exchange Liberalization and the New Real Estate Policy
In 2005, the Korean government implemented a number of new financial policies. Of those, two policy measures deserve special attention because of their potentially significant…
Outlook and Reforms for the Korean Economy in 2006
After two years of sluggish growth, the Korean economy is now recovering. Economic activity began to revive in the early part of 2005 and accelerated…
KORUS FTA vs. Korea-EU FTA: Why the Differences?
The Korea-U.S. Free Trade Agreement (KORUS FTA) and the Korea-European Union Free Trade Agreement (Korea-EU FTA) are the major FTAs for the Korean economy. Although…
Preparing for Change in North Korea: Shifting Out of Neutral
This study was undertaken to assess possible futures for the North Korean regime and the Korean peninsula that could affect U.S. and regional interests, and…