Korea needs to intensify economic linkages with emerging economies, but also has to be cautious of their political risks. As for the East Asian economic integration, it needs to steadily engage Japan in the integration process and to circumscribe the leverage of China together with Japan

This study investigates the fiscal multipliers of 21 OECD countries during the global financial crisis using panel VAR methodology. Our findings suggest that the 1-year fiscal multiplier was greater than 1 during the crisis, whereas it was smaller than 1 before the crisis because of different...

The authors estimate systemic risk in the Korean economy using the econometric measures of commonality and connectedness applied to stock returns. To assess potential systemic risk concerns arising from the high concentration of the economy in large business groups and a few export-oriented...