KIEP Working Paper

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  Determinants of Korean Outward Foreign Direct Investment: How Do Korean Firms Respond to the Labor Costs of Host Countries? 

  Ryu, Hanbyul; Jeong, Young Sik (Korea Institute for International Economic Policy, 2020-09-01)

  Low cost of labor has been one of the major incentives that foreign firms invest in many developing countries. Yet, many developing countries including China and ASEAN have recently experienced a rapid increase in labor costs. Using the wage information provided by JETRO, this study examines how Korean FDI outflow is affected by the increase in labor costs of the manufacturing industry in host ...

  Low cost of labor has been one of the major incentives that foreign firms invest in many developing countries. Yet, many developing countries including China and ASEAN have recently experienced a rapid increase in labor costs. Using the wage information ...
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  Defined Contribution Funded Social Security and Labor Supply: Focus on Mexican Social Security Reform in 1997 

  Hong, Sungwoo (Korea Institute for International Economic Policy, 2020-06-28)

  Countries adopting a defined benefit pay-as-you-go (DB PAYG) regime have two options to solve the issue of financial unsustainability: (1) a parametric reform, which alters policies within DB PAYG regime, and (2) a structural reform, which changes the regime from DB PAYG to a defined contribution funded (DC) system. In this study, focusing on the structural reform of Mexico in 1997, I investigate ...

  Countries adopting a defined benefit pay-as-you-go (DB PAYG) regime have two options to solve the issue of financial unsustainability: (1) a parametric reform, which alters policies within DB PAYG regime, and (2) a structural reform, which changes the ...
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  Global Financial Imbalance: Firm-level Evidence from Korea 

  Kang, Tae Soo; Kim, Kyunghun; Kim, Yuri (Korea Institute for International Economic Policy, 2020-05-26)

  Since the global financial crisis, low interest rates have continued throughout the world. However, financial imbalance has deepened as much of the expanded investment during low interest rates did not lead to increased productivity. This study focused on the increase of marginal firms as a result of the adverse effects of financial imbalances on firms. The marginal firms were identified based on ...

  Since the global financial crisis, low interest rates have continued throughout the world. However, financial imbalance has deepened as much of the expanded investment during low interest rates did not lead to increased productivity. This study focused ...
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  The Effects of US Sectoral Shocks through the World Input-Output Network 

  Han, Minsoo (Korea Institute for International Economic Policy, 2020-03-24)

  In this paper, I estimate the global effects of hypothetical 1% changes in US sectoral productivity. To do that, I formulate a multi-sector Armington trade model with import tariffs, trade in intermediate goods, sectoral heterogeneity, and input-output linkages. Because a closed form for changes in welfare is not available in the model, as opposed to Ossa (2015), I solve for equilibrium to conduct ...

  In this paper, I estimate the global effects of hypothetical 1% changes in US sectoral productivity. To do that, I formulate a multi-sector Armington trade model with import tariffs, trade in intermediate goods, sectoral heterogeneity, and input-output ...

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