The Globalization of Finance : Opportunities and Challenges

Insop Pak 한국무역학회 2006 Journal of Korea trade Vol.10 No.1

Now that globalization is in the air, it is discernible in various forms and assuming varying contacts and ramifications. Globalization already affects national treatment and practice. It raises a number of questions that cannot be readily and easily answered. In particular, the globalization of finance has created a significant evolution of the international financial system in recent years. The information revolution has reduced the costs of borrowing and lending across traditional national boundaries and thereby led to a dramatic expansion of cross-border financial flows. Notably, global financial integration has eroded economic and regulatory barriers to competition across the marketplace for financial services. The growing global financial system is demonstrated to be far more efficient today than ever before in that it has significantly facilitated cross-border trade in goods and services, and thus has substantially contributed to standards of living worldwide. However, as shown in the recent financial crisis episodes in East Asia and Mexico, the globalization of finance has become a challenge to the participants of the financial markets. In this regard, this paper analyzes the process of financial globalization to better understand how the global financial community can maximize the benefits from the globalization of finance while recognizing the challenges.

Nicotine-induced behavioral sensitization is associated with extracellular dopamine release and expression of c-Fos in the striatum and nucleus accumbens of the rat

Shim, Insop,Javaid I. Javaid,David Wirtshafter,Jang, Soo-Yong,Shin, Kyung-Ho,Lee, Hye-Jung,Chung, Young-Cho,Chun, Boe-Gwun 경희대학교 동서의학연구소 2001 東西醫學硏究所 論文集 Vol.2001 No.-

It is well known that repeated injections of nicotine produce progressively larget increases in locomotor activity, an effect referred to as behavioral sensitization. This study was carried out to investigate the neural mechanisms underlying nicotine-induced behavioral sensitization using in vivo microdialysis and Fos-like immunohistochemistry (FLI). Rats were given repeated injections of saline or nicotine (0.4 mg/kg s.c., twice daily for 7 days) followed by one challenge injection on the 4th day after the last daily injection. Systemic challenge with nicotine produced a much larger increase in locomotor activity in nicotine-pretreated rats (659.1±94.9 counts/2 h) than in saline-pretreated rats (218.1±6.1 counts/2 h). A direct local challenge of nicotine(1 or 5 mM) via a microdialysis probe in the nucleus accumbens or striatum induced a much greater dose-dependent increase of dopamine (DA) output in nicotine-pretreated rats than in saline-pretreated rats. Furthermore, in parallel with the behavioral and biochemical data, systemic challenge with nicotine produced marked Fos-like immunohischemistry in the nucleus accumbens and the striatum in the nicotine-pretreated rats. Taken together, this study demonstrates that behavioral sensitization is clearly associated with an increase in DA release and activation of Fos-like immunoreactive cells in the striatum and the nucleus accumbens produced by repeated nicotine treatment. Our results strongly suggest that the striatum and the nucleus accumbens may play a major role in nicotine-induced behavioral sensitization. The present results are discussed in terms of the development and expression of nicotine-induced behavioral sensitization. ⓒ 2001 Elsevier Science B.V. All rights reserved.

U.S. Trade Policy in Transition : An Overview

Pak, Insop;Pak, Myongsop 법무부 2006 통상법률 Vol.- No.69

1980년대 초반 이후 미국의 고질적인 무역적자와 경상수지적자는 대외부문의 불균형을 지속적으로 악화시키고 있는 실정이다. 미국의 이러한 구조적 불균형은 한편으로 미국의 재정수지적자와 일본과 중국등 동남아시아 국가들의 수출경쟁력의 신장에 기인 한다고도 볼 수 있다. 1980년대의 세계부채위기는 미국의 우루과이라운드 협상을 비롯한 통상전략에 커다란 영향을 끼쳤다. 특히 1994년 WTO 출범 이후 미국의 통상정책은 국제통상환경의 변화에 따라 교역상대국과의 통상확대를 통하여 협상력을 제고할 수 있는 유리한 입지확보를 위한 방향으로 수정되어 시행되고 있다. 이에 본 논문은 대외 통상환경의 개선을 위한 미국의 개별적인 노력 및 구제조치를 비롯한 구체적인 통상정책이 어떻게 채택되었는지를 살펴보고자 한다. 이를 위해 본 논문은 GATT체제에서 미국이 어떠한 통상정책으로 대외균형을 유지해왔는지를 분석하고자 한다. 나아가 현행 WTO의 틀내에서 미국의 통상정책의 조정수준을 고찰하고 적극적인 무역자유화 추진의 전개방향을 전망하고자 한다. Since the early 1980's the U.S. has been suffering large and chronic trade and current account deficits. These have been caused by large U.S. budget deficits, increased industrial competition from many countries. The World debt crisis of the 1980's had a big impact on U.S. trade bargaining strategy, the Uruguay Round―GATT outcomes. The U.S. trade policy has adjusted to new conditions to capture the full gains from the developments with the rapid evolution of global trading relationships. In this paper we examine the adjustment environment in the U.S. as set out by the U.S. trade remedy laws (countervailing duties for subsidies, anti‐dumping duties, Section 201 safeguard relief, Section 301 remedies, and balance of payments relief) under GATT/WTO. How has the U.S. responded to opportunities and challenges associated with the change of global trade relations? Specifically, what options for improved U.S. trade balance operated under the GATT 1947? How does the GATT 1994 and the WTO alter this situation and the scope for U.S. trade remedies? This paper begins with an analysis of the economic situation of the U.S. with respect to foreign trade. Then, it examines how U.S. trade policy could accomplish in response to changes in global market condition by the means provided by GATT 1994, or by the measures provided by GATT 1947, if there would be any need for a change. Based on the review, we will provide prospects of the U.S. trade policy for the future and the implications for global trade relationships.

다국적 기업의 조세 회피 규제: 유럽 연합의 조세 개혁을 중심으로

박인섭(Insop Pak),토이로바 무비나(Mubina Toirova) 부경대학교 인문사회과학연구소 2016 인문사회과학연구 Vol.17 No.2

2012년 이후 조세 회피 관련 문제가 전 세계 언론에서 주요기사로 자주 다뤄지고 있다. 최근 구글, 아마존, 스타박스는 물론 애플, 이베이, 페이팔, 페이스북 등 대다수의 다국적 기업이 조세를 회피하고 있다는 의혹이 제기 되어 각국의 조세 당국자 등 관련 기관들이 이를 주시하고 있다. 이는 2005년 마이크로소프트사가 조세를 회피했다는 월스트리트저널의 보도에 대한 국제 사회의 관심이 거의 없었던 데 비해 현격한 차이라 할 수 있다. 이러한 다국적 기업의 조세 회피 행위와 조세 피난처 이용은 글로벌 기업경영의 필수 전략으로 악용되어 개별 국가의 세원존립기반에 위협을 주 는 등 국제사회의 심각한 문제로 부각되었다. 이와 같은 문제에 대한 해결책으로 최근 유럽연합은 경제협력개발기구 (OECD)의 “국가 간 소득이전을 통한 세원잠식” (BEPS) 대응방안(통칭 구 글세)과 “통합법인세하한기준” (CCCTB) 두 가지 프로젝트를 기초로 마련한 법인세제 개혁안을 유럽의회에서 입법화해 28개 전 회원국에 적용할 방침이다. 이에 본 논문은 동 프로젝트의 특징과 목적 등에 대해 심층 분 석하고 있다. 그러나 여전히 동 프로젝트와 관련해 몇 가지 난제가 남아 있다. 즉 동 프로젝트의 향후 다국적기업의 법인세 회피 방지 효과 여부와 국가 간 소 득이전을 통한 세원잠식 대응 방안과 통합법인세 하한기준의 분리 여부에 대한 결론은 추후 동 프로젝트의 최초 성과가 나오기 전까지는 현 상황에 서 내리기가 어렵다. 이와 같은 난제의 해결책을 강구하기 위해서는 향후 지속적인 관련 연구가 요구되는 바이다. Starting from 2012 the phrase “tax avoidance” became frequent in headlines. Many multinationals, such as Google, Amazon and Starbucks were mentioned in tax dodging claims, but were not, however, alone. Apple, eBay, PayPal, Facebook and other multinationals have all been subject to comment. The first claim was against Microsoft and appeared in The Wall Street Journal in 2005. However, it was encountered with nearly null reaction. Tax avoidance practices and the use of tax havens by multinational enterprises have become commonplace and even an essential part of modern business operations. Today it becomes a serious issue for national governments of developed countries. Two projects were introduced in EU, in order to suppress corporate tax avoidance: the Base Erosion and Profit Shifting (BEPS) project of OECD and the Common Consolidated Corporate Tax Base (CCCTB) project. The features and particular objects of these projects are studied in future research. However, it will take reasonable period of time, until both projects will present first results.

이동로봇 자율주행을 위한 행위 모듈의 실행 순서 조정기법에 관한 연구

송인섭(Insop Song),박정민(Jungmin Park),전윤호(Yunho Jeon),오상록(Sang-Rok Oh),조영조(Young-Jo Cho),박귀태(Gwi Tae Park) 제어로봇시스템학회 1998 제어로봇시스템학회 합동학술대회 논문집 Vol.1998 No.3

Effect of Ginseng Total Saponin on Extracellular Dopamine Release Elicited by Local Infusion of Nicotine into the Striatum of Freely Moving Rats

Shim, Insop,Javaid, J.I.,Kim, Sang-Eun 경희대학교 동서의학연구소 2001 東西醫學硏究所 論文集 Vol.2000 No.-

We investigated the effect of ginseng total saponin(GTS) on nicotine-induced dopamine(DA) release in the striatum of freely moving rats using an in vivo microdialysis technique. In order to further characterize the mechanism by which GTS affects DA release, the effect of GTS on K+-induced DA released was also examined. Local infusion of nicotine(1, 5, and 10 mM) into the striatum produced a dose-dependent increase in extracellular DA in dialysate samples (maximal response = 154.0 ± 10.8%, 308.1 ± 55.7%, and 499.9 ± 77.9% over basal levels, respectively). GTS(100mg/kg i.p.) had no effect on basal levels of extracellular DA. However. GTS inhibited maximal DA release induced by intra-striatal infusion of nicotine (1, 5, and 10 mM) by 35.3%, 36.6%, and 58.5%, respectively. Intra-striatal infusion of high K+ solution (100mM) produced and increase in extracellular DA in the striatum(maximal response = 796.6 ± 98.8% over basal levels). However, GTS had no effect on the K+-induced increase in extracellular DA. The present study demeonstrated that GTS inhibited striatal DA release stimulated by local infusion of nicotine. This may reflect the blocking effect of GTS on the striatum-related behavior induced by nicotine as well as other psychostimulants. The results also suggest that GTS may act on presynaptic nicotinic acetylcholine receptors or receptor-operated Na+ channels in dopaminergic nerve terminals, but not on voltage-sensitive ion channels

Berberine alleviates symptoms of anxiety by enhancing dopamine expression in rats with post-traumatic stress disorder

Bombi Lee,Insop Shim,Hyejung Lee,Dae-Hyun Hahm 대한생리학회-대한약리학회 2018 The Korean Journal of Physiology & Pharmacology Vol.22 No.2

Post-traumatic stress disorder (PTSD) is a trauma-induced psychiatric disorder characterized by impaired fear extermination, hyperarousal, anxiety, depression, and amnesic symptoms that may involve the release of monoamines in the fear circuit. The present study measured several anxiety-related behavioral responses to examine the effects of berberine (BER) on symptoms of anxiety in rats after single prolonged stress (SPS) exposure, and to determine if BER reversed the dopamine (DA) dysfunction. Rats received BER (10, 20, or 30 mg/kg, intraperitoneally, once daily) for 14 days after SPS exposure. BER administration significantly increased the time spent in the open arms and reduced grooming behavior during the elevated plus maze test, and increased the time spent in the central zone and the number of central zone crossings in the open field test. BER restored neurochemical abnormalities and the SPS-induced decrease in DA tissue levels in the hippocampus and striatum. The increased DA concentration during BER treatment may partly be attributed to mRNA expression of tyrosine hydroxylase and the DA transporter in the hippocampus, while BER exerted no significant effects on vesicular monoamine transporter mRNA expression in the hippocampus of rats with PTSD. These results suggest that BER had anxiolytic-like effects on behavioral and biochemical measures associated with anxiety. These findings support a role for reduced anxiety altered DAergic transmission and reduced anxiety in rats with PTSD. Thus, BER may be a useful agent to treat or alleviate psychiatric disorders like those observed in patients with PTSD.

Tetramethylpyrazine reverses anxiety-like behaviors in a rat model of post-traumatic stress disorder

Bombi Lee,Insop Shim,Hyejung Lee,Dae-Hyun Hahm 대한생리학회-대한약리학회 2018 The Korean Journal of Physiology & Pharmacology Vol.22 No.5

Post-traumatic stress disorder (PTSD) is a trauma-induced psychiatric disorder characterized by impaired fear extermination, hyperarousal, and anxiety that may involve the release of monoamines in the fear circuit. The reported pharmacological properties of tetramethylpyrazine (TMP) include anti-cancer, anti-diabetic, anti-atherosclerotic, and neuropsychiatric activities. However, the anxiolytic-like effects of TMP and its mechanism of action in PTSD are unclear. This study measured several anxiety-related behavioral responses to examine the effects of TMP on symptoms of anxiety in rats after single prolonged stress (SPS) exposure by reversing the serotonin (5-HT) and hypothalamic-pituitary-adrenal (HPA) axis dysfunction. Rats were given TMP (10, 20, or 40 mg/kg, i.p. ) for 14 days after SPS exposure. Administration of TMP significantly reduced grooming behavior, increased the time spent and number of visits to the open arm in the elevated plus maze test, and significantly increased the number of central zone crossings in the open field test. TMP administration significantly reduced the freezing response to contextual fear conditioning and significantly restored the neurochemical abnormalities and the SPS-induced decrease in 5-HT tissue levels in the prefrontal cortex and hippocampus. The increased 5-HT concentration during TMP treatment might be partially attribute to the tryptophan and 5-hydroxyindoleacetic acid mRNA level expression in the hippocampus of rats with PTSD. These findings support a role for reducing the altered serotonergic transmission in rats with PTSD. TMP simultaneously attenuated the HPA axis dysfunction. Therefore, TMP may be useful for developing an agent for treating psychiatric disorders, such those observed in patients with PTSD.

Tetramethylpyrazine reverses anxiety-like behaviors in a rat model of post-traumatic stress disorder

Lee, Bombi,Shim, Insop,Lee, Hyejung,Hahm, Dae-Hyun The Korean Society of Pharmacology 2018 The Korean Journal of Physiology & Pharmacology Vol.22 No.5

Post-traumatic stress disorder (PTSD) is a trauma-induced psychiatric disorder characterized by impaired fear extermination, hyperarousal, and anxiety that may involve the release of monoamines in the fear circuit. The reported pharmacological properties of tetramethylpyrazine (TMP) include anti-cancer, anti-diabetic, anti-atherosclerotic, and neuropsychiatric activities. However, the anxiolytic-like effects of TMP and its mechanism of action in PTSD are unclear. This study measured several anxiety-related behavioral responses to examine the effects of TMP on symptoms of anxiety in rats after single prolonged stress (SPS) exposure by reversing the serotonin (5-HT) and hypothalamic-pituitary-adrenal (HPA) axis dysfunction. Rats were given TMP (10, 20, or 40 mg/kg, i.p.) for 14 days after SPS exposure. Administration of TMP significantly reduced grooming behavior, increased the time spent and number of visits to the open arm in the elevated plus maze test, and significantly increased the number of central zone crossings in the open field test. TMP administration significantly reduced the freezing response to contextual fear conditioning and significantly restored the neurochemical abnormalities and the SPS-induced decrease in 5-HT tissue levels in the prefrontal cortex and hippocampus. The increased 5-HT concentration during TMP treatment might be partially attribute to the tryptophan and 5-hydroxyindoleacetic acid mRNA level expression in the hippocampus of rats with PTSD. These findings support a role for reducing the altered serotonergic transmission in rats with PTSD. TMP simultaneously attenuated the HPA axis dysfunction. Therefore, TMP may be useful for developing an agent for treating psychiatric disorders, such those observed in patients with PTSD.

China′s Rare Earth Industry Policy and Its Global Impact

Mubina Toirova(토이로바 무비나),Insop Pak(박인섭) 강원대학교 사회과학연구원 2015 사회과학연구 Vol.54 No.2

“첨단산업의 비타민”으로 불리는 희토류는 그 희소성으로 최근 전 세계의 주목을 받고 있다. 중국은 희토류 자원 매장량이 가장 많은 국가로서 세계 최대의 생산국이지만 최근에 환경보호와 자원보존을 이유로 국가 전략적 산업구조조정과 함께 수출 쿼터를 통제하는 수출규제조치를 강화하여 희토류 산업을 정비하게 되었다. 한편 중국은 2010년 댜오위다오(센카쿠열도) 영토 분쟁 이후 불거진 자국의 희토류 산업정책과 수출규제 및 수출량 제한조치로 공급물량 부족과 가격급등을 우려한 서방세계의 WTO 분쟁해결기구 제소에서 1심 패널 판결에 불복, 항소에도 불구 2014년 8월 패소함으로써 희토류 수출 쿼터 폐지등 후속 조치를 취할 수밖에 없는 상황에 직면하게 되었다. 이에 본 연구는 최근 전 세계적으로 주목을 받고 있는 중국의 희토류 산업정책과 수출규제 및 수출제한조치가 전 세계에 어떠한 영향을 끼쳤는지를 살펴보고자 한다. 특히 중국이 희토류 산업 정책을 통해 얻을 수 있는 효과 및 “중국의 희토류 수출제한조치”와 “희토류 가격”간의 연관성에 대해 분석하고 그 시사점을 도출하고자 한다. Rare earths which are called as the vitamin of high-tech industry are indispensable part of high-tech devices, and eco-friendly products such as smart phones, laptops, plug-in hybrid electric vehicles. As the world"s dominant rare earth provider China has suffered from severe environmental pollution in their production areas due to Chinese government"s inappropriate supervision, and thus the excessive development by rarer earth producers. In response China"s government has overhauled its rare earth industry regime by way of its restructuring as a national strategic industry, and strengthening the pollutant emission standard and export restrictions including export quotas. China"s Diaoyu Dao island territory dispute with Japan in 2010 has led to tighten its export control over rare earth materials, which caused the USA, EU and Japan"s serious concern over a undersupply and sudden price rise of rare earth, and thereby filing suit with the WTO. Despite China"s defense, in March 2014 the panel of the WTO Dispute Settlement Body(DSB) held that China violated the GATT rules. Moreover, China"s appeal was rejected by the appellate body of the WTO DSB in August 2014. This paper examines China’s rare earth industry policies and its global impact. In order to fulfil the research, global rare earth reserves and history of Chinese rare earth production has been reviewed. Moreover, the aspects of implementing rare earth industry policies by the Chinese government have been analyzed. China being one of the major exporter of rare earths faced several problems, such as illegal mining activities and severe environmental problems associated with extraction and production of rare earthmetals. As a result, Chinese government implemented export restrictions(export quotas, export taxes) on rare earths in order to tackle environmental problems. In the circumstances, major rare earth consuming countries strongly argued that the regulatory measures increased rare earth prices globally. In this context, this paper explores the nexus between China"s rare earth industry policies and rare earth prices, that is China"s influence on the formation of rare earth price.