In 2009, Korea Institute for International Economic Policy (KIEP) launched "Visiting Fellows Program (VFP)" with the view of advancing cross-border exchanges of knowledge, information, insights and expertise.Since its inception, the VFP has demonstrated that sharing thoughts and ideas through...

Over the past decade, the Russian government has embarked on an ambitious program of economic development in the Russian Far East (RFE), envisioning the transformation of the region into a hub for trade with the Asia Pacific. This paper explores the extent of RFE's trade integration with both...

The rise in electronic communications and the recent liberalization of the postal market in the European Union have put national postal-service providers in Central and Eastern Europe (CEE) under pressure to restructure and optimize their operations. The paper employs non-parametric methods to...

Import demand has been a major research topic in international economics for the past 80 years because of its importance for analyzing trade and evaluating trade policies. The goal of this paper is to survey the literature and conduct a meta-analysis of empirical studies on import demand with...

Closer integration between Central and Eastern Europe (CEE) and the EU has opened up channels facilitating the propagation of economic shocks from the core to the eastern periphery. This paper examines the effects of such shocks to economic activity and monetary conditions originating in the...

Regional economies in emerging countries vary greatly in terms of their global integration. External shocks, therefore, require adjustment mechanisms that reflect local conditions. This paper focuses on the role of real exchange rates (RER) in the economic performance of regions. In particular,...

Rapid growth in large emerging economies has been spread unequally across their regions leading to growing income disparities. This paper examines the distribution of regional output per capita and the evolution of its shape in Brazil, China, India, and Russia from the mid-1990s to the...

Due to the considerable distances from the major sales markets of Russia, the Far East has close ties with markets of the countries in the Asian-Pacific region (APR). The current expansion of trade and economic interactions with these countries has a positive effect on the economic development...

The lack of developed financial markets and well-functioning transmission channels assigns monetary aggregates in emerging economies the potential role of nominal anchor, intermediate target, or informational variable for monetary policy. The effectiveness of this approach relies crucially on...

In addition to being one of the most isolated countries in the world, North Korea has been the target of sanctions and trade restrictions in recent years. This paper examines the trade patterns of North Korea with its 19 major trading partners over the period 1989–2016. Moreover, the paper...