Based on a recently constructed firm-level panel dataset, Survey of Business Activities, 2006~08, from the National Statistics Office (NSO), we empirically analyzed probabilities and determinants of global sourcing in Korean industry by setting up a panel logit model and a panel tobit model.This...

In recent times, local governments and policymakers in Korea have been strongly interested in sustainable growth or job creative growth locally, but how? The purpose of this study was to expand our understanding of the relationship between regional economic growth and the local characteristics...

In the first year of the second decade in the 21st century, Korea entered upon the one-trillion-dollar trade era and is about to take a leap forward. As the goal of one-trillion-dollar trade volume was accomplished right after Korean GDP reached 1 trillion dollars, the accomplishment is...

In recent times, comparisons have been made between the West African country of Ghana and the Asian tiger, Korea. These comparisons have mostly been in relation to the economic transformation and development that has occurred in the two countries over the last five decades. Five decades ago,...

The Korean economy has continued to grow through an export-led growth strategy since the 1960s. As a result, the dependency of Korea’s economy on trade is exceptionally high. The high trade dependency is criticized by some people because it tends to make Korea’s economy vulnerable to...

The defense industry holds promising potential that could be a new growth engine of competitiveness with large-scale investments and integration of cutting-edge technologies.The advanced countries, including G7 and ex-communist countries, have been focusing on strategies to enforce their...

The Ministry of Knowledge Economy (MKE) and Korea Institute of Industrial Economics and Trade (KIET) have built an industrial statistical database for appropriate policy making in the midst of a rapidly changing economic climate. As a part of the project, a questionnaire survey has been...

The increased uncertainty that has rocked the global trading environment in the aftermath of the global financial crisis has emerged as a significant threat for the Korean economy and its high trade dependence. While advanced countries have found themselves confronted by the possibility of low...

Korea shows a very high energy consumption level because of its many energy-intensive industries such as petrochemical, steel making and cement industry. With scarce energy resources except a small natural gas basin, it basically gives Korea a severe limit to sustainable growth. But before the...

World economy, which showed relatively robust growth from the second half of 2010 to early 2011, has a slowdown due to the financial crisis in advanced countries, especially Greece and Italy. Retrenchment has become a common policy trend in response to rising oil price and inflationary concerns...