Search All Site Content

Total Index: 5626 publications.

Subscribe to our Mailing List!

Sign up for our mailing list to keep up to date on all the latest developments.

Our Team

Randall S. Jones

Distinguished Fellow
Korea Economic Institute of America
Download Profile Picture

Email Randall S. Jones

About Randall S. Jones

Dr. Randall Jones is a non-resident scholar at the Korea Economic Institute and a Professional Fellow at Columbia University’s Center on Japanese Economy and Business. Previously, he served as the Senior Counsellor for East Asia and as Head of the Japan/Korea Desk at the Organization for Economic Cooperation and Development (OECD) in Paris from 2002 until August 2019. During his 30 years at the OECD, Dr. Jones wrote all 16 OECD Economic Surveys of Korea and 15 OECD Economic Surveys of Japan, in addition to a number of other publications. In recognition for his work on Japan and Korea, Dr. Jones received the Decoration of the Order of the Rising Sun from the Government of Japan and the Sungnye Medal of the Order of Diplomatic Service Merit from the Government of Korea in 2018. Before joining the OECD in 1989, he spent three years in the U.S. government, serving at the Council of Economic Advisers and as an advisor in the State Department. Dr. Jones was also the vice-president of the Japan Economic Institute in Washington. Dr. Jones received a B.A. in Economics from Brigham Young University and a PhD in Economics from the University of Michigan in 1984. He lived in Korea from 1974 to 1976.

The potential growth rate – the level of output that an economy can produce at a constant inflation rate – in Korea has declined steadily from 5.0% during 1997-2006 to 2.7% during 2017-20, according to the OECD (Figure 1). The OECD projects that it will slow further to 2.2% from 2021-23. The Bank of Korea…

Read More

Region: Asia

January 26, 2022

Korea’s real GDP increased 1.2% (saar) in 2021Q3, a significant slowdown from the first two quarters of the year, reflecting a decline in private consumption (table below). A tightening of social distancing measures since July, aimed at slowing a fourth wave of COVID-19 infections, reduced spending on “consumer-facing services”. For example, demand in the food…

Read More

Region: Asia

November 12, 2021

North Korea’s real GDP fell by 4.5% in 2020, according to the estimate announced by the Bank of Korea (BoK) at the end of July (Figure 1). It was the steepest decline since 1997 during the “Arduous March,” when North Korea was hit by famine. The downturn last year was caused in part by measures to contain…

Read More

Region: Asia

October 1, 2021

One year ago, President Moon Jae-in launched the Korean New Deal, which aims to “set the foundation for Korea’s next 100 years.” The New Deal is a national development strategy with three main objectives. First, create jobs, both government-supported positions for low-skilled workers and jobs that support the transition towards a digital and green economy.…

Read More

Region: Asia

July 13, 2021

Korea is pursuing a bold strategy in an effort to achieve a paradigm shift that results in a fair economy. Some of its major initiatives – notably sharp increases in…

Read More

Region: Asia

July 30, 2019

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 Economic Cooperation and Development (OECD)…

Read More

Region: Asia

May 25, 2011

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 share of Korea’s population older…

Read More

Region: Asia

May 25, 2011