자본시장개방의 거시경제적 영향 분석 = A Study on Macroeconomic Impact of Fiancial Liberalization

다국어 초록 (Multilingual Abstract)

The considerable surge of foreign capitals by our financial liberalization are prone to invalidate the macroeconomic policies. In particular, the policy contradiction between domestic prices and foreign exchange rates is one of the main interesting questions for us to solve in the era of financial liberalization. In this regard, this study on the causalities of macroeconomic variables may contribute significantly to suggesting the timely orientation to future macroeconomic policies such as price and foreign exchange policies.
The results of our empirical and theoretical analyses reveal generally that the degrees of causality among main macroeconomic variables become higher with the considerable inflows of foreign capitals. This implies that the control of macroeconomic policies are not easy, due to intricacy in the interlinks among the macroeconomic variables. Therefore, the timely and appropriate mix of macroeconomic policies are definitely necessary to achieve a specific macroeconomic target in the era of financial liberalization.

목차 (Table of Contents)

• Ⅰ. 머리말
• Ⅱ. 외환 및 자본자유화 추이
• Ⅲ. 자본시장개방의 이론적 분석
• Ⅳ. 자본시장개방의 실증적 분석
• Ⅴ. 결론 및 정책 시사점
• 참고문헌