Korea's choices in emerging global competition and cooperation

목차 (Table of Contents)

• contents
• Contents = ⅲ
• Contributors = xi
• Preface = xiii
• Introduction = xv
• 1. Reorganization of Korea's Macroeconomic Management / Sung-hee Jwa = 1
• Overview of Korea's Past Macroeconomic Management and Performance = 3
• Existing Patterns of Macroeconomic Management = 7
• Distortions in Macroeconomic Management = 7
• Short Horizon in Macroeconomic Management = 9
• Political Democratization and political Economy in Macroeconomic Management = 9
• Changing Prospects in Macroeconomic Policy Environments = 10
• Globalization and Its Implications for Economic Management = 10
• Economic Liberalization and the Problems of Direct Regulation = 11
• Capital Flow Liberalization and Its Implications for Macroeconomic Management = 11
• Democratization and the Political Business Cycle = 11
• Reforms in Macroeconomic Policy Regime = 12
• Role of the Government in Macroeconomic Management = 12
• Indirect Macroeconomic Management System = 17
• Maintaining a Macroeconomic Policy Stance Free of Politics = 21
• Macroeconomic Policy Issues in a Small Open Economy Setting = 23
• Korea's Capital Flow: Overall Pattern, Determinants, and Prospects = 25
• Independence of Monetary Policy and Exchange-Rate Regime = 31
• Sterlization as an Independent Policy Instrument = 32
• Macroeconomic Policy Mix Under Capital inflow Pressures = 39
• Summary = 46
• Appendix 1. Historical Changes in Restrictions on Capital Flows and Exchange Transactions since 1990 = 48
• Direct Investment = 48
• Portfolio Investment = 48
• Exchange Controls = 48
• Appendix 2. Long Term Plan for Korea's Liberalization of Foreign-Exchange and Capital Transactions = 50
• Current Account Transactions = 50
• Capital Account Transactions = 51
• Foreign-Exchange Market = 51
• Comments : Vittorio Corbo = 57
• Michael R. Darby = 61
• 2. The Nature of the National Economy in the Borderless World and the Role of the Government / Jongho Yoo = 65
• Past and Future Changes in the World Economy = 66
• Past Changes = 66
• Future Changes = 70
• Changes in the Nature of the National Economy = 71
• Economic Characteristics = 71
• Emergence of Local Economies of Distinct Characteristics = 72
• Interindustry Relations = 73
• Concept of Nationality = 73
• Policy Implications for the Korean Economy = 73
• Market Opening and Industrial policy = 73
• Principle of Nondiscrimination = 74
• Resource Attraction = 75
• Rules of the Game = 77
• Conclusion: Role of Government = 80
• Comments : Robert E. Baldwin = 86
• Stanley Katz = 90
• Chang H. Lee = 93
• 3. Industrial Structural Changes and Enhancing Competitiveness / Kyoung-Hwie Mihn = 97
• Structural Changes in Industry and Trade = 97
• Structural Changes in the Manufacturing Sector = 98
• Changes in Comparative Advantage = 103
• International Comparison of Manufacturing Structures = 107
• A Vision for Newly Competitive Industries = 109
• Rationale for a Vision = 109
• Prospects for the Development of High-Technology Industries to the Year 2005 = 110
• Policies for Enhancing Industrial Competitiveness = 114
• The Role of Government = 114
• Competition and Cooperation = 115
• Internationalization and Strategic Alliances = 118
• Industrial Finance = 119
• Technological Development = 120
• Concluding Remark = 121
• Comments : Lawrence B. Krause = 127
• Peter A. Petri = 132
• 4. Korean Multinationals in the Pacific Basin: A Comparative Study of Foreign Investment and Trade Strategies / Dennis J. Encarnation = 137
• A Brief Sketch of Korean FDI Aboard = 138
• Shareholdings: Majority Subsidiaries Versus Minority Affiliates = 141
• Sales: Foreign Investment Versus International Trade = 145
• Value-Added: Offshore Production Versus Overseas Distribution = 150
• Markets: Local Versus Expert = 154
• Trade: Intracompany Shipments Versus Arm's-Length Trade = 158
• Conclusions: Korea Multinationals in Comparative Perspective = 162
• A trans-Atlantic Model = 164
• A trans-Pacific Model = 165
• Comments : Duk-Choong Kim = 174
• 5. Creating Extrafirm infrastructure of Institutions for Small and Medium-Sized Businesses / Joon-Kyung Park = 179
• The Prospects of Technological Development = 181
• Structure and Characteristics of the SMB Sector = 185
• Recent Development in the SMB Sector = 185
• Subcontracting System = 190
• Localized Networks of SMBs = 194
• Innovative Policies Toward SMBs = 196
• Research Cooperation and Innovation Consultancies for SMBs = 196
• Technology Transfer Centers = 197
• Regionalization of Science and Technology = 198
• Communal Support Structure = 200
• Concluding Remarks = 200
• Comments : Richard M. Locke = 219
• Michael J, Piore = 224
• 6. Corporate Governance: The Structure and Issues in Korea / Young-Ki Lee = 229
• Corporate Governance: A theoretical Review = 231
• Separation of Ownership and Management; Agency Problem = 231
• Stakeholder Concept in Corporate Governance = 232
• The Industrial Group and Organizational control = 234
• Corporate Governance, Innovation, and Competitiveness = 235
• The Role of Debt in Corporate Governance = 236
• Comparative Analysis of Governance Structure = 237
• The American System of Market Discipline = 238
• Japanese Governance System: Organizational Control = 241
• German Dual Board System and the "Power of Banks" = 246
• Corporate Governance Structure in Korea = 248
• Corporate Structure in Korea = 248
• Ownership and Control of Korean Corporations = 249
• Government Policies on Corporate Ownership and Control = 249
• Role of the Government in Corporate Governance = 256
• Comparison of Korean Corporate Governance Structure with Foreign Systems = 257
• Search for a New Model of Corporate Governance in Korea = 261
• Why is a New Governance System Required in Korea? = 261
• Contemporary Issues in Korea Corporate Governance = 262
• Proposing a New System of Corporate Governance in Korea = 263
• Financial Commitment Through Bank-Industry Alliances = 267
• Summary and Conclusion = 268
• Comments : E. Han Kim = 283
• William H. Lazonick = 286
• John M. Stopford = 295
• 7. Building Scientific and Technological Infrastructure / Won-Young Lee = 301
• The Korean Experience in Building Industrial Development and Technological Capabilities = 302
• Catching-up Product Cycle Model of Industrialization = 302
• Building Technological Capability in Korean Firms = 303
• Pattern of Specialization in Technological Trajectory = 306
• The Future Course of Industrial Development = 307
• Global Environments = 307
• Industrial Deepening = 308
• Strategic Industrial Policy = 310
• Diffusion-Oriented S&T Policy = 311
• Restructuring Government R&D Programs = 312
• Development of the National R&D Program = 312
• Priority Setting in the NRDP = 314
• The Total Size of NRDP = 316
• Coordination of R&D Programs = 317
• Promotion of Cooperation Among Industry, Academia, and Research Industries = 318
• Research Institues = 318
• Major Actors of R&D = 318
• Weak Links Among Industry, Academia, and GRIs = 319
• Vitalization of University Research Capabilities = 321
• Restructuring of GRIs = 322
• Manpower Training and Education = 323
• National Education System = 323
• Science and Technology Education = 324
• Supply and Demand of S&F Manpower = 324
• Recent Reform in Education = 325
• Education System More Responsive to Markets = 326
• Strengthening the S&T Information Network = 327
• Main Carriers of the S&T Information Network = 327
• Barriers to Equal Access to S&T Information = 328
• Policy Options = 328
• Concluding Remarks = 330
• Comments : Dieter Ernst = 333
• Nathan Rosenberg = 346
• 8. Conclusions and Challengers / Lee-Jay Cho and Yoon Hyung Kim = 355
• Industrial and Corporate Structure = 356
• Labor Relations = 357
• Technological Development = 358
• Macroeconomic Policy and Management = 360
• International Markets and Alliances = 361
• Challenges for the Korean Economy = 363