Pub Date : 2022-06-30DOI: 10.11644/kiep.eaer.2022.26.2.408
Kyung-keun Kim
{"title":"Revisiting a Gravity Model of Immigration: A Panel Data Analysis of Economic Determinants","authors":"Kyung-keun Kim","doi":"10.11644/kiep.eaer.2022.26.2.408","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2022.26.2.408","url":null,"abstract":"","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48656614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-31DOI: 10.11644/kiep.eaer.2022.26.1.403
S. Armstrong, P. Drysdale
{"title":"The Economic Cooperation Potential of East Asia’s RCEP Agreement","authors":"S. Armstrong, P. Drysdale","doi":"10.11644/kiep.eaer.2022.26.1.403","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2022.26.1.403","url":null,"abstract":"","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2022-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46698483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-31DOI: 10.11644/kiep.eaer.2022.26.1.404
Byung-il Choi, Jennifer S. Oh
{"title":"Rise of Geopolitics and Changing Korea and Japan Trade Politics","authors":"Byung-il Choi, Jennifer S. Oh","doi":"10.11644/kiep.eaer.2022.26.1.404","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2022.26.1.404","url":null,"abstract":"","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2022-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47502646","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-31DOI: 10.11644/kiep.eaer.2022.26.1.405
Haggai Kennedy Ochieng
{"title":"China’s Public Diplomacy towards Africa: Strategies, Economic Linkages and Implications for Korea’s Ambitions in Africa","authors":"Haggai Kennedy Ochieng","doi":"10.11644/kiep.eaer.2022.26.1.405","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2022.26.1.405","url":null,"abstract":"","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2022-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48980628","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-31DOI: 10.11644/kiep.eaer.2021.25.4.400
Baran Han
{"title":"Strategic Portfolio Building in Donors’ Multilateral Institutional Choice","authors":"Baran Han","doi":"10.11644/kiep.eaer.2021.25.4.400","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2021.25.4.400","url":null,"abstract":"","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48235679","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-31DOI: 10.11644/kiep.eaer.2021.25.4.402
Sangil Bae,Minsoo Jeong
{"title":"Forecasting KOSPI Return Using a Modified Stochastic AdaBoosting","authors":"Sangil Bae,Minsoo Jeong","doi":"10.11644/kiep.eaer.2021.25.4.402","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2021.25.4.402","url":null,"abstract":"","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138496289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-31DOI: 10.11644/kiep.eaer.2021.25.4.401
Yongseung Jung
{"title":"Fiscal Policy and Redistribution in a Small Open Economy with Aging Population","authors":"Yongseung Jung","doi":"10.11644/kiep.eaer.2021.25.4.401","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2021.25.4.401","url":null,"abstract":"","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42638159","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-30DOI: 10.11644/kiep.eaer.2021.25.2.395
Jae Wook Jung,Kyunghun Kim
Over the past decades, financial markets have been integrated across countries while income inequality has increased in most countries. This paper studies the effect of financial market integration on income inequality and investigates whether this effect varies with the degree of financial market development. We find empirical evidence that financial market integration and financial market development interact to change income inequality. Specifically, the effect of financial market integration on income inequality is nonlinear, and the degree of financial market development plays an important role. Opening financial markets worsens income inequality in the countries holding the underdeveloped state of financial markets, however, the effect of capital account openness on income inequality is statistically insignificant in the countries with developed financial markets.
{"title":"Financial Market Integration and Income Inequality","authors":"Jae Wook Jung,Kyunghun Kim","doi":"10.11644/kiep.eaer.2021.25.2.395","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2021.25.2.395","url":null,"abstract":"Over the past decades, financial markets have been integrated across countries while income inequality has increased in most countries. This paper studies the effect of financial market integration on income inequality and investigates whether this effect varies with the degree of financial market development. We find empirical evidence that financial market integration and financial market development interact to change income inequality. Specifically, the effect of financial market integration on income inequality is nonlinear, and the degree of financial market development plays an important role. Opening financial markets worsens income inequality in the countries holding the underdeveloped state of financial markets, however, the effect of capital account openness on income inequality is statistically insignificant in the countries with developed financial markets.","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138496288","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-31DOI: 10.11644/kiep.eaer.2020.24.4.385
Sébastien Miroudot
This paper provides empirical evidence on the reorganization of GVCs in East Asia, highlighting that structural trends explain a decrease in the fragmentation of production after 2011 but that it is not the result of rising trade costs along the value chain Using harmonized inter-country input-output tables, the paper first analyzes the global import intensity of production to document changes in the structure of GVCs It then calculates theory-consistent bilateral trade costs for intermediate and final products using an approach derived from the gravity literature and introduces a new index of cumulative trade costs along the value chain These data are used to discuss whether the decrease in global imports is the consequence of shifts in demand, efficiency-enhancing strategies of firms or rising trade costs Between 2011 and 2016, cumulative trade costs have decreased in East Asian GVCs However, as COVID-19 is likely to intensify trade and investment uncertainties, trade costs could increase in the future Policies aimed at reducing uncertainties and preserving the gains from trade and investment liberalization will be key in this new environment
{"title":"The Reorganization of Global Value Chains in East Asia before and after COVID-19","authors":"Sébastien Miroudot","doi":"10.11644/kiep.eaer.2020.24.4.385","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2020.24.4.385","url":null,"abstract":"This paper provides empirical evidence on the reorganization of GVCs in East Asia, highlighting that structural trends explain a decrease in the fragmentation of production after 2011 but that it is not the result of rising trade costs along the value chain Using harmonized inter-country input-output tables, the paper first analyzes the global import intensity of production to document changes in the structure of GVCs It then calculates theory-consistent bilateral trade costs for intermediate and final products using an approach derived from the gravity literature and introduces a new index of cumulative trade costs along the value chain These data are used to discuss whether the decrease in global imports is the consequence of shifts in demand, efficiency-enhancing strategies of firms or rising trade costs Between 2011 and 2016, cumulative trade costs have decreased in East Asian GVCs However, as COVID-19 is likely to intensify trade and investment uncertainties, trade costs could increase in the future Policies aimed at reducing uncertainties and preserving the gains from trade and investment liberalization will be key in this new environment","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138496287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-31DOI: 10.11644/kiep.eaer.2020.24.4.386
Martín Uribe
The coronavirus pandemic of 2019-20 confronted fiscally dominant regimes around the world with the question of whether the large deficits caused by the health crisis should be monetized or financed by issuing debt The unpleasant monetarist arithmetic of Sargent and Wallace (1981) states that in a fiscally dominant regime tighter money now can cause higher inflation in the future In spite of the qualifier 'unpleasant,' this result is positive in nature, and, therefore, void of normative content I analyze conditions under which it is optimal in a welfare sense for the central bank to delay inflation by issuing debt to finance part of the fiscal deficit The analysis is conducted in the context of a model in which the aforementioned monetarist arithmetic holds, in the sense that if the government finds it optimal to delay inflation, it does so knowing that it would result in higher inflation in the future The central result of the paper is that delaying inflation is optimal when the fiscal deficit is expected to decline over time [ABSTRACT FROM AUTHOR] Copyright of East Asian Economic Review (EAER) is the property of Korea Institute for International Economic Policy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission However, users may print, download, or email articles for individual use This abstract may be abridged No warranty is given about the accuracy of the copy Users should refer to the original published version of the material for the full abstract (Copyright applies to all Abstracts )
{"title":"Financing COVID-19 Deficits in Fiscally Dominant Economies: Is The Monetarist Arithmetic Unpleasant?","authors":"Martín Uribe","doi":"10.11644/kiep.eaer.2020.24.4.386","DOIUrl":"https://doi.org/10.11644/kiep.eaer.2020.24.4.386","url":null,"abstract":"The coronavirus pandemic of 2019-20 confronted fiscally dominant regimes around the world with the question of whether the large deficits caused by the health crisis should be monetized or financed by issuing debt The unpleasant monetarist arithmetic of Sargent and Wallace (1981) states that in a fiscally dominant regime tighter money now can cause higher inflation in the future In spite of the qualifier 'unpleasant,' this result is positive in nature, and, therefore, void of normative content I analyze conditions under which it is optimal in a welfare sense for the central bank to delay inflation by issuing debt to finance part of the fiscal deficit The analysis is conducted in the context of a model in which the aforementioned monetarist arithmetic holds, in the sense that if the government finds it optimal to delay inflation, it does so knowing that it would result in higher inflation in the future The central result of the paper is that delaying inflation is optimal when the fiscal deficit is expected to decline over time [ABSTRACT FROM AUTHOR] Copyright of East Asian Economic Review (EAER) is the property of Korea Institute for International Economic Policy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission However, users may print, download, or email articles for individual use This abstract may be abridged No warranty is given about the accuracy of the copy Users should refer to the original published version of the material for the full abstract (Copyright applies to all Abstracts )","PeriodicalId":41122,"journal":{"name":"East Asian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138494438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}