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이수훈 경상대학교 해외지역연구센터 1997 해외지역연구 Vol.1 No.1
Area studies are booming in Korea in the 1990s. This is a significant academic phenomenon which need to be examined. In this paper, we try to examine the following issues: the issue of the identity of area studies in Korea, the implications of activation of area studies on the social science disciplinary structure, and the issue of the embedded disharmony of Korea's emerging area studies. After examination of these issues, we found that 1) Korea's area studies have no proper epistemology, 2) there is a great potential for the area studies to play a positive role in weakening the existing boundaries between social science disciplines, and 3) Korea's area studies show signs of disharmony between what it tries to achieve and the changing realities of the world which they attempt to capture.
East Asian Economic Crisis : An Indian Perspective
Nagaraj, R.,Park, Jongsoo 경상대학교 해외지역연구센터 1998 해외지역연구 Vol.2 No.1
This paper seeks to answer the following questions: What led to the crisis, what solution was chosen, and why, and with what effects. Why some other countries like China, Taiwan and India were not affected, at least so far? We will briefly describe the Indian experience of external financial liberalisation and how India has tried to cope with the threat of the contagion.
IMF구제금융시대에 있어서 정부와 시장의 역할에 대한 재조명 : 규범적 접근 A Normative Approach
박효종 경상대학교 해외지역연구센터 1998 해외지역연구 Vol.2 No.1
This research has attempted to justify the vision of a minimal state against governmental failures and to present some important reform proposals in South Korea, which is faced with economic crisis. The discussion has been normative rather than empirical. Certainly, the market is an imperfect economic mechanism in the sense that it cannot deal with externality problems and, thus, produce public goods in an efficient way. Asymmetrical information and tyranny of small decisions are other salient area of market failure. Nevertheless, the fact that the market fails in some specific areas should not necessarily mean that the government can succeed in those area. In particular, this research has taken care to refuse the proposition that the government can do what the market cannot do. The main reason is that the government has its own failures. We usually confront the empirical fact that government bureaucrats trend to act as revenue-maximizers and politicians and elected representatives as vote-maximizers In view of those imperfections of both mechanisms, this research posits two major criteria in evaluating the market and government mechanisms. Those are efficiency and social justice. As far as efficiency is concerned, the market is definitely superior to the government, since market transactions always produce Pareto-optimal results. On the other hand, we can say that both the market and government fail with regard to social justice. Agents in the market transactions and government officials tend to behave themselves in an egoistic way, doing harm to public interests and common good in the community. Given this comparison, it is worth noting that the market is less imperfect than the government, although both are essentially imperfect mechanisms. This is also why this research which commits itself to the market rather than the government proposes that the government should self-consciously decline to intervene in the modus operandi of the market mechanism and regulate property rights.
India's New Economic Policy and Japanese Response
Esho, Hideki 경상대학교 해외지역연구센터 1998 해외지역연구 Vol.2 No.1
By comparison with its attention to Southeast Asia including China, Japan has long neglected India as a major economic partner. However, India not only vigorously started her "reform and open-door policy" in 1991, she has been also very keen to woo Japanese capital and technology to promote industrial development. Yet India is neither major Japanese trade partner nor is the attractive host country for Japanese investors even today. India seem to be significant for Japan primarily as recipient of Japanese official development assistance(ODA). In this paper I investigate the main reasons for such lopsided development of ecenomic relationships between Japan and India. In chapter 1 I begin by turning our attention to India's new economic policy (NEP) which started in 1991. Then in chpater2 I present a brief outline of Japanese economic relations with Indea in the field of trade, FDI, and ODA. Finaly in chapter 3 I disscuss some characteristics of Indian political economy systems and how Japanese assess them.
IMF체제 논리로서의 신자유주의 이데올로기 : 패권의 존재와 약육강식적 시장 The Existence of A Hegemony and A Predatory Market
심흥수 경상대학교 해외지역연구센터 1998 해외지역연구 Vol.2 No.1
The purpose of this essay is threefold. First, we identify the neoliberal ideology as the core of the International Monetary Fund(IMF)regime. By illuminating the orgins of the ideology, we show why it is necessary to offer a new definition of the ideology, We argue that the neoliberal ideology is a mix between the "fantastic" neoliberal promise of markets and American power politics. We trace its upbringing in United States-Latin American relations during the early part of the Cold War. Second, we attempt to explain why the ideology has rapidly been spreading all over the world in the postCold War era. We argue that a structural change from bipolarity to unipolarity is the permissive cause for the proliferation of the ideology. The problematic is the presence of an unchecked power, the United States. Third, we identify various problems that result from the proliferation. We focus on market failures which are well recognized in the political economy literature, and on anarchy which is the defining characteristics of the international system, Our arguments together point to an unfair and unequal distribution of wealth worldwide, which the neoliberal ideology consequently produces. We question the legitimacy of the ideology since it exercises power politics and perpetuates a predatory market that mainly serves the interests of the hegemon.