Background: The circulation of information through the Internet allows us to promptly and conveniently deliver information. However, it is also causing a simultaneous occurrence of digital information gap and cultural lag phenomena. The gap in the ability to freely access and use Web site...

The authors re-examine the return-volatility relationship and its dynamics under a new vector autoregression (VAR) identification framework. By analyzing two model-free impliedvolatility indices - the well-established VIX (in the United States) and the recently published VKOSPI (in Korea) - and...

This paper examines changes in the balance sheets of the banking system in five East Asian economies which were affected by the 1997 Asian Crisis. These countries have persistently accumulated international reserves since the crisis. This paper estimates the impact of reserve accumulation on...

To obtain reliable estimates of the effects of single-sex education, I exploit the random assignment of students to single-sex and coeducational schools in South Korea. The results suggest that single-sex schooling is beneficial for girls in math, but has no effects for boys. Moreover,...

We estimate changes in the productivity of schooling for six East Asian countries. Our productivity measure is based on changes in the relative price of schooling. A rising price of schooling relative to other labor-intensive service sectors should indicate declining relative schooling...

The paper analyzes the potential trade distortion effects of state trading enterprises (STEs) on soybean imports to Korea. Traditionally, STEs have exercised exclusive rights to import the so-called strategic products, to ensure food security, domestic price stabilization, and import mark-ups....