Several factors must be considered before adopting a full-phase power generation system based on renewable energy sources. Long-term necessary data (for one year if possible) should be collected before making any decisions concerning implementation of such a systems. To accurately assess the...

This book presents Korea’s economic strategy to meet the emerging challenges, as it recovers from the 1997 financial crisis and moves on into the globalization and information era. For important policy areas, the authors evaluate existing policies, and offer proposals for new strategic...

The paper deals with the questions of why Asian monetary and financial cooperation has not proceeded rapidly even though the countries have discussed this issue for so long and how to overcome this problem. The authors identify the lack of a common vision and a roadmap for monetary integration...

Increasing nervousness in world financial markets give new relevance to the long-standing issues of global current account adjustment. It reminds policymakers that this adjustment, if improperly managed, could lead to further drops in assets prices, disruptions in the global trading system, and...

The world economy faces a grave danger from the large imbalances in current account positions. Policymakers should not wait until financial markets force global adjustment. They should initiate a credible, comprehensive adjustment program to reduce the risks of a crisis, which could produce a...

This paper explores endogenous institution formation under a catching-up strategy in developing countries. Since the catching-up strategy is normally against the compartive advantages of the developing countries, it can not be implemented through laissez-faire market mechanisms, and a government...

This article applies a general equilibrium model to analyse the impact of new rice technology on household income and uses agricultural household survey data from China to test the implications of this model. It is shown that, when a new rice technology becomes available, the adopting household...