Asia

Along with commercial banks, capital markets are an integral part of the financial systems in most capitalist economies, and their relative importance is constantly increasing. Countries around the world are…

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 first responsibility is primary, ongoing,…

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 the crisis, in 1996 and…

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 economic performer. Korea’s real GDP…

When Kim Jong-il died in 2011, the world held its breath as North Korea entered uncharted waters. No other communist dictatorship in the last century – for that matter no…

On June 25, 1950, North Korea launched a surprise invasion of South Korea and started a war that is still technically ongoing. But it was – as North Korea’s Kim…

The North Korean economy is changing – we know this because of widely reported growth of private markets since the famine of 1990s. But black markets and illicit activities are…

In May, The Korean-born Los Angeles Dodgers’ pitcher Ryu Hyun-jin was named The National League Pitcher of the Month. When you think of Asians and baseball, you might think first…

By Seho Park On February 8, South Korea will celebrate Lunar New Year, called Seollal in Korean. Most Koreans get three days of vacation for the occasion, which is one of the most important annual holidays in Korea. Although some traditions have fallen out of popularity as Korea modernized, there are still many customs associated…

Shortly before the 8th Republican presidential debate in New Hampshire North Korea conducted its second successful satellite launch. North Korea was also topic of discussion at the 5th Democratic presidential debate a few days earlier. Here is what the candidates had to say about the satellite launch in the Republican debate and more generally about…

By Troy Stangarone After moving up its launch window, North Korea again violated previous UN Security Council resolutions by conducting a long-range rocket launch as part of a mission to put its second satellite in orbit. Combined with it fourth nuclear test a little more than a month ago, Pyongyang has undertaken two major provocations…

By Nicholas Hamisevicz The new year did not start off well for inter-Korean relations. The momentum was already moving in the wrong direction after a disappointing December. North Korea’s fourth nuclear test will now create an even larger setback for the two sides. The prospects will not get better either. Directly antagonizing one another while…