본문 바로가기 주메뉴 바로가기
kiep logo

Contents

Citation

Citation
No Title

Abstract

To overcome the financial crisis, we need to do some reform, such as to change the governmental and non-governmental structure, make sure the policy to be transparent, and remove restrictions, etc. All these measures can restore the confidence of foreign investors towards Korea. But to make balance of the trade surplus and keep foreign exchange reserve at a reasonable level, ensure foreign exchange and the security of financial department is one of the most urgent topics. Since the deep relationship of economy among countries in North-East Asia, financial crisis is not only the problem in Korea. It is already expended to the whole North-East Asia. This thesis shows the idea that we can forecast surplus in the trade balance scale, enlarge the trade balance of South Korea and activate export. It also shows that instead of the increase of export, the surplus is caused by the decrease of import. At this point of view, the number of surplus is not true. If the investment keeps decreasing like this, the foundation of Korean Economy will collapse.

JEL classification: F13, F14, F17

Keywords

Asian Financial Crisis, Asia Countries, Trade Policy Asia

Language

Korean

References

  1. Maeil Business Newspaper & MK Inc. 1998. “1 Billion People in Asia Experiencing Unemployment,” 9 April. (in Korean)
  2. Ohn, K. and B. Song. 1998. “Directions for 1998/99 Economic Policy under the IMF-supported Programs,” Issue Paper, Seoul: Korea Institute for Industrial Economics and Trade. (in Korean)
  3. Korea Institute for Industrial Economics and Trade. “International Trade Policy under the IMF Condition”, January 1998. (in Korean)
  4. Cheong I. 1996. “Economic Effects of APEC Trade Liberalization,” Policy Analyses 96-09, Seoul: Korea Institute for International Economic Policy. (in Korean)
  5. Cheong, I. 1998. “America’s Potential Condition of Additional Market Opening for Financial Support,” Nara Kyungje (monthly), April 1998, Seoul: Korea Development Institute. (in Korean)
  6. Cheong, I. and H. Pyo. 1996. “CGE Analysis of WTO Trade Liberalization,” Policy Analyses 96-05, Seoul: Korea Institute for International Economic Policy. (in Korean)
  7. Ministry of Trade-Industry. 1998. “Survey on Equipment Investment Plan of Top 200 Enterprises.” (in Korean)
  8. Korea Economic Research Institute. 1998. Ways to Expand Current Account Surplus against Economic Crisis. Seoul: Korea Economic Research Institute (in Korean)
  9. Hahn, C. 1998. “Macroeconomic Effects of the Decrease in Oil Prices.” KDI Economic Outlook (Quaterly), 1st Quarter. April 1998. Seoul: Korea Development Institute (in Korean)
  10. Korea Development Institute. 1998. KDI Economic Outlook (Quaterly). 1st Quarter. April 1998. Seoul: Korea Development Institute. (in Korean)
  11. Korea International Trade Association. 1998. Survey on the Trend of Export Firms under the IMF Programs. Seoul: Korea International Trade Association (in Korean)
  12. Korea Development Bank. 1998. Prospect for Industrial Equipment Investment of 1998. Seoul: Korea Development Bank. (in Korean)
  13. Arndt, C., Hertel, T., Dmaranan, b., Huff, K. and R. McDougall. 1997. "China in 2005, Implications for the Rest of the World," Journal of Economic Integration, vol. 12, no. 4, pp. 505-547.
  14. Ballard, C. L. and I. Cheong. 1997. "The Effects of Economic Integration in the Pacific Rim, A Computational General Equilibrium Analysis," Journal of Asian Economics, vol. 8, no. 4, pp. 505-524. Connecticut: JAI Press.
  15. Bergsten, C. F. 1998. "The Trade Implications of the Asian Financial Crisis". Remarks before the Committee on Finance, US Senate. February 4.
  16. Cheong, I. 1995. "The Economic Effects of Asia-Pacific Economic Cooperation (APEC) and Asia-Based Free Trade Area (AF-11) : A Computational General Equilibrium Approach". Unpublished Ph.D. Dissertation. Lansing, Michigan: Michigan State University.
  17. Cheong, I. 1996. "Who really loses from the 'Flexibility' in the Osaka Action Agenda," Journal of Economic Theory and Econometrics, vol. 2, no. 1, pp. 77-102.
  18. Cheong, I. 1997. "The Effects of APEC Trade Reform on Structural Adjustments of Member Economies," Singapore Economic Review, vol. 42, no. 1, pp. 1-18.
  19. Cheong, I. and S. Lee. 1997. "Importance of Market Structures in the CGE Modeling, An Application to the AFTA," Journal of Economic Research, vol. 2 no. 1, pp. 55-77.
  20. DRI. 1998. World Economic Outlook. 1st quarter.
  21. Francois, J., McDonald, B. and H. Nordstrom. 1994. "The Uruguay Round: A Global General Equilibrium Assessment". Paper presented to the conference on The UR and the Developing Countries. Washington, D.C.: The World Bank.
  22. Gehlhar, M. T. H. and W. Martin. 1994. "Economic Growth and the Changing Structure of Trade in the Pacific Rim," American Journal of Agricultural Economics, vol. 76, no. 5, pp. 1101-1110.
  23. IMF. World Economic Outlook. October.
  24. IMF. 1997. 10. World Economic Outlook - Interim Assessment. Washington, D.C.: IMF.
  25. Johansen, L. 1960. A Multi-Sectoral Study of Economic Growth. Amsterdam: North Holland Publishing Company.
  26. Liu, L., Noland, M., Robinson, S., and Z. Wang. 1998. Asian Competitive Devaluations. IIE Working Paper 98-2. Washington, D.C.: Institute for International Economics.
  27. McKibbin, W. J. 1996. Quantifying APEC Trade Liberalization: A Dynamic Analysis. Working Paper in Trade and Development no.96/1. Canberra, ACT, Australia: Economics Department, Australian National University.
  28. Pyo, H., Kim, K. and I. Cheong. 1996. "Foreign Import Restrictions, WTO Commitments and Welfare Effects: The Case for Korea," Asia Development Review, vol. 14, no. 2, pp. 21-43.
  29. Roth, W. V. Jr. and C. F. Bergsten. 1997. 12. 27. "The (Potential) Asian Silver Lining," The Washington Post.
  30. WEFA. 1998. 1. World Economic Outlook.
  31. WTO. 1998. 3. World Trade Growth Accelerated in 1997, Despite Turmoil in Some Asian Financial Markets. Geneva: WTO.
  32. World Bank. 1993. The Asian Miracle Economic Growth and Public Policy. Oxford University Press.