KDI 한국개발연구원

요약 CHAPTER 1-1
WILL THE U.S. BANK RECAPITALIZATION SUCCEED? LESSONS FROM JAPAN 　I. Introduction
　II. Macroeconomic Conditions in the U.S. and Japan
　III. Japanese Asset Management Companies and Recapitalization Programs
　IV. The U.S. Crisis and Responses
　V. Conclusions
　References

CHAPTER 1-2
　I. Introduction
　II. An Accounting Framework
　III. Prescriptions
　IV. Implications for Korea
　V. Concluding Remarks
　References

CHAPTER 1-3
Sovereign Wealth Meets Market Failure:
　I. Introduction
　II. Origins of The Financial Crisis
　III. A Way Forward: Mutual Wealth Funds
　IV. Governance Structure of Mutual Wealth Funds
　V. Rescuing the Global Environment
　VI. Conclusions
　References
　Comments on “Sovereign Wealth Meets Market Failure: Government Participation versus Government Intervention in Markets”

CHAPTER 2-1
Between Two Whales: Korea’s Choice in the Post-Crisis Era
　The 1997 Asian Financial Crisis and Institutional Reform in Korea
　The Current Crisis’s Economic Impact and Government Response
　Yet Another Variable: The Emergence of China
　Trade in Parts and Cross-Border Production Networks between Korea and China
　The Effect of the Crisis on Korea’s External Economic and Strategic Relations
CHAPTER 2-2
Economic Crisis and Intergenerational Economy:
　I. Introduction
　II. Background
　III. Results
　IV. Conclusion
　References
　Comments on "Financial Crisis and Intergenerational Economy: Lessons for Korea’s 1997 Financial Crisis"

CHAPTER 2-3
Growth of Felonies after the 1997 Financial Crisis in Korea
　I. Introduction
　II. Theoretical Framework of Criminal Deterrence Policy
　III. Trend of Felony
　IV. Criminal Deterrence Policy of the Korean Government
　V. Conclusion
　References
　Comments on “Growth of Felonies after the 1997 Financial Crisis in Korea”
CHAPTER 3-1
Walking after the Elephant of Financial Crisis
　I. Introduction
　II. The story
　III. The logic of bail out
　IV. Arithmetic of Securitization: Risk Illusion
　V. Conclusion
　References
　Exhibit 1.
　Comments on "Walking after the Elephants of Financial Crisis"

CHAPTER 3-2
Was There an Explosive Bubble in U. S. Stock Prices before the Recent Stock Market Crash?
　I. Introduction
　II. A Review of the Literature
　III. The Theoretical Model
　IV. Empirical Analysis
　V. Concluding Remarks
　References
　Comments on “Was There an Explosive Bubble in U. S. Stock Prices before the Recent Stock Market Crash?”
　References

CHAPTER 3-3
Testing Financial Contagion with Time-Varying Correlation of Heteroscedastic Asset Returns
　I. Introduction
　II. Related Literature
　III. The Model
　IV. Empirical Results and Interpretations
　V. Test for the 1994 Mexican Peso Crisis and the 1987 U. S. Market Crash
　VI. Summary and Conclusion
　Appendix
　References
　Comments on “Testing Financial contagion with Time-Varying Correlation of Heteroscedastic Asset Returns”

CHAPTER 3-4
Forecasting Time-varying Densities of Inflation Rates:
　I. Introduction
　II. Econometric Methodology: Functional Autoregression
　III. Data and Descriptive Statistics
　IV. Forecasting the UK Inflation Rates
　V. Conclusion
　References
　Discussions on “Forecasting Time-varying Densities of Inflation Rates: A Functional Autoregressive Approach”

CHAPTER 4-1
Global Crisis, Official Bailout and the Long-run Demand for Official Lending　I. Introduction
　Appendix
　References

CHAPTER 4-2
외환관리정책의 재조명과 바람직한 외환정책
　I. 서 론305
　II. 외환위기 이후 우리나라 외환시장 동향
　III. 외환위기 이후 외환관리 정책 평가
　IV. 향후 외환정책 방향 검토
　V. 결론 및 시사점
　<부록> 외환위기 이후 외환관리 정책 주요 내용
　References
　Comments on " A Reevaluation of Foreign Exchange Policy and Future Policy Direction"

CHAPTER 4-3
자본시장의 글로벌화와 한국 통화정책의 독립성
　I. 서 론
　II. 해외자본유입에 대한 정책대응
　III. 통화정책의 독립성에 대한 실증분석
　IV. 결 론
　References
　Discussions on “Capital Market Globalization and Monetary Policy Independence in Korea”

CHAPTER 4-4
Financial Market Integration in East Asia: Status and Options
　I. Introduction
　II. Interest differentials in East Asia
　III. Determinants of Interest Differentials
　IV. Implication for Regional Monetary Cooperation
　V. Conclusion
　References
　Annex: Table for transforming the S&P ratings into numerical values