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Issues In Korean Exchange Rate Policy
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Book Synopsis Issues in Korean Exchange Rate Policy by : Stanley W. Black
Download or read book Issues in Korean Exchange Rate Policy written by Stanley W. Black and published by . This book was released on 1996 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Korea faces a number of unique problems that affect its exchange rate policy. Among these are its asymmetric competitive position vis-...-vis Japan, which is both its major supplier of machine tools and a leading competitor in third markets; the current policy of financial liberalization that goes along with democratic liberalization; and the implications of the potential future unification of the Korean peninsula. This paper considers the question of exchange rate policy for Korea in the face of fluctuations in the yen/dollar rate, increasing competition from lower cost Asian countries, and financial liberalization. The paper deals with external vs. internal targets, choice of external comparison basket, and the effects of financial liberalization. The Korean choice of an independent exchange rate policy is analyzed in terms of the trade-off between external shocks and inflation-fighting credibility of the central bank. Financial liberalization brings with it increased capital mobility. The paper also considers the possibility of a regional currency area, Korean unification, and long run equilibrium.
Book Synopsis Korea's Exchange Rate Policy by : Sŭng-hŭi Chwa
Download or read book Korea's Exchange Rate Policy written by Sŭng-hŭi Chwa and published by . This book was released on 1988 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Changes in Exchange Rates in Rapidly Developing Countries by : Takatoshi Ito
Download or read book Changes in Exchange Rates in Rapidly Developing Countries written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.
Book Synopsis A Framework for Exchange Rate Policy in Korea by : Michael Patrick Dooley
Download or read book A Framework for Exchange Rate Policy in Korea written by Michael Patrick Dooley and published by 대외경제정책연구원. This book was released on 2002 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary and Exchange Rate Policy in Korea by : Barry J. Eichengreen
Download or read book Monetary and Exchange Rate Policy in Korea written by Barry J. Eichengreen and published by . This book was released on 2004 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Exchange Rate Fluctuations on Korean Industry by : Soo-Dong Kim
Download or read book The Impact of Exchange Rate Fluctuations on Korean Industry written by Soo-Dong Kim and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The stabilization of exchange rate fluctuations is an important economic policy issue for an open, export-oriented country such as South Korea. The 1997 foreign exchange crisis and the 2008 global financial crisis put the Korean foreign exchange market in great turmoil, and the instability of the exchange rate resulting from those crises seriously affected the economy as a whole. In addition, more frequent fluctuations in the value of the Korean won are causing concerns about the negative impact on foreign trade. This uncertainty in the external sector is a very important variable that can influence decision making by industries, companies and various stakeholders. As exchange rate fluctuations drew the attention of economists, they began to study their effects on macroeconomics using time series. However, recently analyses of exchange rate fluctuations have expanded to the firm level using corporate and industrial data.Meanwhile, major industrialized countries such as the U.S., Japan and the EU are trying to maintain monetary policy in a way that lowers or at least does not raise the value of their currencies for economic stability, economic recovery, and job creation. Many countries that suffer from currency appreciation and a current account deficit have been intervening in the foreign exchange market somewhat aggressively. And the debate about the legitimacy of these measures is intensifying. Countries around the world have engaged in a competition do devalue their currencies, and this trend is expected to accelerate amid creeping protectionism. For these reasons, the appreciation of the won is likely to persist over the long term, and concerns over the negative impact of this trend are also growing.Companies and industries will be affected differently by exchange rate fluctuations, depending on their export ratio, profitability and firm value, and the size of the effect will be different as well. The effect of exchange rates on the profitability of companies and industries varies depending on the characteristics and circumstances of the company in question, such as its share of exports of total sales, its dependency on the import of raw materials, and overseas market share of export products. Therefore, it is necessary to closely examine the effect of the exchange rate on corporate and industrial performance in a scenario where the won persistently appreciates. The results of this study are expected to carry various implications for individual companies operating in each industry. And these policy suggestions can be used as valuable reference materials for deploying countermeasures at the firm level. This study analyzes the effects of exchange rate fluctuations on profitability of firms and industries. This analysis will provide a basis for implementing countermeasures at the firm and industry level and design differentiated countermeasures according to the size of the impact of the exchange rate on profitability.In Chapter 2, I first examine the long-term and recent trends of the won against the currencies of major countries. And I also research the impact channel of exchange rate fluctuations on the performance or profitability of a firm or industry. I then review the previous research, which discusses how exchange rate fluctuations affect firm and industry performance. In Chapter 3, I analyze the effect of exchange rate fluctuations on the profitability of firms and industries empirically during the period from 2003 to 2017. In doing so, I theoretically examine the effect of the exchange rates on corporate profits, assuming that the final goods produced using imported raw materials are sold in domestic and foreign markets. In addition, I examine the effect of exchange rates on corporate profitability using corporate financial data and then study how it affects industry profitability according to the importance of overseas markets, whether the firm in question is listed or not and the size of company. Chapter 4 provides an overall conclusion and presents implications.
Book Synopsis Appropriate Exchange Rate Regime in Developing Countries by : Chae-sik Chŏng
Download or read book Appropriate Exchange Rate Regime in Developing Countries written by Chae-sik Chŏng and published by 대외경제정책연구원. This book was released on 2000 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Korea's Exchange Rate Policy by : Won Am Park
Download or read book Korea's Exchange Rate Policy written by Won Am Park and published by . This book was released on 1989 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Behavior of Korean Exchange Rate and Monetary Policy by : Jung Sik Kim
Download or read book The Behavior of Korean Exchange Rate and Monetary Policy written by Jung Sik Kim and published by . This book was released on 1991 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis FX Funding Risks and Exchange Rate Volatility–Korea’s Case by : Mr.Jack Ree
Download or read book FX Funding Risks and Exchange Rate Volatility–Korea’s Case written by Mr.Jack Ree and published by International Monetary Fund. This book was released on 2012-11-07 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how exchange rate volatility and Korean banks’ foreign exchange liquidity mismatches interacted with each other during the Global Financial Crisis, and whether the vulnerability stemming from this interaction has been reduced since then. Structural and cyclical changes after the crisis, including decreasing demand for currency hedges and the diversifying investor base for bonds, point to a possible weakening of the interaction mechanism; and we find evidences are strongly supportive of this.
Book Synopsis The Role of Exchange Rate Policy and External Competitiveness in the Growth and Adjustment of the Korean Economy by : Changhyo Bae
Download or read book The Role of Exchange Rate Policy and External Competitiveness in the Growth and Adjustment of the Korean Economy written by Changhyo Bae and published by . This book was released on 1996 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Korean Economy by : Charles Harvie
Download or read book The Korean Economy written by Charles Harvie and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Korea has played, and will increasingly play, an important role in the future development of the South East Asian region, including the expansion of regional economic cooperation and interregional trade. Indeed Korea has been a leading proponent of the idea of ASEAN+3. Clearer understanding of this economy, its major contemporary policy and reform issues and its future, are of particular interest from both regional and global perspectives.
Book Synopsis The Political Economy of the Won by : Deborah J. Lindner
Download or read book The Political Economy of the Won written by Deborah J. Lindner and published by . This book was released on 1992 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis New evidence on high interest rate policy during the Korean crisis by : Chae-sik Chŏng
Download or read book New evidence on high interest rate policy during the Korean crisis written by Chae-sik Chŏng and published by . This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "March 2002"
Download or read book Korean-U.S. Financial Issues written by and published by . This book was released on 1993 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Policies in Korea by : Yung Chul Park
Download or read book Exchange Rate Policies in Korea written by Yung Chul Park and published by . This book was released on 1999 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rates and Foreign Trade in Korea by : Bela A. Balassa
Download or read book Exchange Rates and Foreign Trade in Korea written by Bela A. Balassa and published by World Bank Publications. This book was released on 1991 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Korea's exchange rate has had a greater effect than other domestic economic variables on its exports, which have been key to its outstanding economic growth. Thus Korea's use of the exchange rate as a policy variable makes good sense and should be continued as long as domestic and foreign inflation rates differ.