THE KOREA-AMERICA ECONOMIC ASSOCIATION

NEWSLETTER

Vol. XIV, No. 5, September, 1998


Membership Dues

The Association needs supports from all members. There are many members who have not paid their annual membership dues as of August 1, 1998. You may click on the Dues-Paying Members to check if you have paid your 1998 membership dues. If you have not done so yet, please send your payment to the new treasurer, Dr. Jinill Kim, Department of Economics, 114 Rouss Hall, University of Virginia, Charlottesville, Va. 22903-3288. Checks should be made payable to the Korea-America Economic Association.

You may download the Annual Membership Application Form in a pdf file if you need one.


Announcements

1. CALL FOR PAPERS:  Dr. Suk-Hi Kim (University of Detroit Mercy) is inviting submissions for articles on Asian Financial Crisis of 1997 to publish in the 1999 issues of Multinational Business Review. For details, please contact Professor Kim at his email address: kimsuk@mich.com or his website: http://www.mich.com/~kimsuk/

2. SEOUL CONVENTION:  The Korea Economic Association would like to have the papers presented at the KAEA convention in Seoul on its website, http://members.iworld.net/kea1952/index.htm. The KEA wants to receive a copy of your paper in a diskette or by e-mail. Its e-mail and mailing addresses are:
     e-mail address:   KEA1952@chollian.net or KEA1952@Hitel.net
     Mailing address:   100-743, Seoul, Chung-gu, NamDaeMoon-Ro 4 Ga, 45 beonji, Sang Gong Whoeuiseo Whoe Gwan 442 ho.
Please send it to me also if you would like to post it on our web page.

3. CHANGE OF JOB:  Dr. Jinill Kim, the treasurer of the KAEA, has moved from the Federal Reserve Board to the Department of Economics, University of Virginia. His new address is Department of Economics, 114 Rouss Hall, University of Virginia, Charlottesville, Va. 22903-3288.

4. PUBLICATIONS:  Publications by Kyung Hwan Baik, Jongmoo Jay Choi, Kwan-Suk Kim and Suk H. Kim are listed in the PUBLICATIONS site for the years 1997, 1998, and 1999 forthcoming. The current research by Kyung Hwan Baik is listed in the current research site.

5. HONORS:  Dr. Jongmoo Jay Choi, Professor of Finance at Temple University, is now the President of The Korea-America Finance Association for 1998-1999. Congratualations!

6. NOMINATING COMMITTEE:  Dr. John Riew chairs the nominating committee for the next year's executive committee. The members of the committee are Youn-Suk Kim, Kwan Suk Kim and E. Han Kim. Thank you for your services.


KAEA Annual Meeting in New York
Academic Sessions and Business Meeting
Preliminary Program


The following is the program of the KAEA annual meeting in New York. Dr. Byung-Joo Lee, the Secretary General of the KAEA, has worked hard to organize the sessions. Please give him an applause for the job well done. We plan to post the papers on our PROCEEDING site. Please prepare your paper in the pdf format.

You may dowload the program by clicking on the KAEA PROGRAM, which is in the pdf format.




I.    International Economics and Finance

Date January 3 (Sunday), 2:30 - 4:30 p.m.
Place Hilton, Room #520
Chair Kyu-Sik Lee, World Bank
Papers
Suk Hi Kim, University of Detroit Mercy -- Hong Kong's Market Causes a Global Stock-Market Turmoil
Yoonbai Kim, Yung-hsiang Ying, University of Kentucky, Young-Yong Kim, Chonnam National University, and Jin Seok Park, Chosun University -- Economic Integration and Business Cycle Correlations in European Countries
Yung Y. Yang, California State University at Sacramento, and Min Hwang, University of California-Berkeley -- Effects of Trade Liberalization on Domestic Prices
Kilman Shin, Ferris State University -- Exchange Rate Crisis and Real Exchange Rate
Discussants
Byung-Joo Lee, University of Notre Dame
Bong-Soo Lee, University of Houston
Hae-Shin Hwang, Texas A&M University
Jay Choi, Temple University



II.    Economic Development in South Korea

Date January 4 (Monday), 8:00 - 10:00 a.m.
Place Sheraton, Conference Room I
Chair Semoon Chang, University of Southern Alabama
Papers
Kwack, Sung Y., Howard University -- Total Factor Productivity Growth in Korean Manufacturing Industries
Yuhn, Ky H., Florida Atlantic University, and Yung Joon Lee, Pusan National University -- Endogenous Growth and Agglomeration Economies in Korean Manufacturing
Choi, Young Back, St. John's University -- A Perspective on Korean Economic Development
Kim, Jinill, University of Verginia -- Three Sources of Increasing Returns to Scale
Discussants
Tae Oum, University of British Columbia
Kyu-Sik Lee, World Bank
Jai Myung Suh, Hankuk University of Foreign Studies
Yongsung Chang, University of Pennsylvania



III.    The Asian Financial Crisis, and The East Asian Development Model (AEA/KAEA Joint Session)

Date January 4 (Monday), 2:30 - 4:30 p.m.
Place Hilton, Room #524
Chair Bong Joon Yoon, State University of New York-Binghamton
Papers
E. Han Kim, University of Michigan -- The Asian Financial Crisis, Corporate Profitability and Market Liberalization
Janet T. Landa, York University, and Yong J. Yoon, George Mason University -- The Political Economy of Chinese Trading Networks and Korean Chaebol: Profit-seeking vs. Rent-seeking Entrepreneurship
Christopher Lingle, Case Western Reserve University -- Asian Values and Asian Crises: a Clash of Cultures
Jeffrey Sachs and Steve Radelet, Harvard Institute for International Development -- What have we learned from the Asian Financial Crisis?
Bong Joon Yoon, State University of New York-Binghamton -- The Nature of the Chaebol
Discussants
Edward M. Graham, Institute for International Economics
Seok Chae Lee, East West Center
Bong Joon Yoon, State University of New York-Binghamton
Hak-Yong Rhee, Korea University



IV.    Invited Lecture and Business Meeting

Social Hours

Date January 4 (Monday), 5:30 p.m.
Place Hilton, Room: Morgan Suite


Business Meeting

Date January 4 (Monday), 6:00 p.m.
Place Hilton, Room: Morgan Suite
Chair Hae-shin Hwang, President, KAEA
Guest Speakers
Duk-Choong Kim, President, Ajou University
Hak-Yong Rhee, President, Korea Economic Association


Dinner Reception

Date January 4 (Monday), 7:30 p.m.
Place to be announced at the business meeting
Guest Speaker No Soo Park, Korean Consulate General in New York



V.    Economic Crisis in South Korea

Date January 5 (Tuesday), 8:00 - 10:00 a.m.
Place Hilton, Room #548
Chair Kwan S. Kim, University of Notre Dame
Papers
Youn-Suk Kim, Kean University, and Hyeng Keun Koo, Pohang University -- The International Monetary Fund's Policy and its Impact on Korean Chaebols
Sun M. Kahng, University of Minnesota-Morris -- Korean Economic Development and the Formation of the Northeast-Asia Economic Community
Sung-Hee Jwa and Chan-Guk Huh, Korea Economic Research Institute -- Korea's 1997 Currency Crisis: Cause and Implications
Dong Chul Cho, Korea Development Institute -- A year after the Korean Economic Crisis: What Next?
Discussants
Soon Paik, Bureau of Labor Statistics
Kwan S. Kim, University of Notre Dame
Man-Woo Lee, Korea University
WeeGook Kim, East-West Research Institute




The Eighth International Economics Convention
August 18-19, 1998
Seoul, Korea

epilogue

Twenty five members of the KAEA participated in the Seoul convention as paper presenters, discussants and session chairs. The convention had an opening ceremony, three plenary sessions, and 27 academic sessions. The convention was successful by all accounts and it had a pretty good turnout. The Maeil Economic Daily Newspaper had covered the convention extensively.

The convention started with a dinner reception hosted by Dr. Myung-Gun Choo, chairman of board of trustee, Se Jong University, at the Se Jong hotel on the eve of the convention. Most KAEA members were present, except for those who arrived very late. Dr. Tae Dong Kim, a former member of the KAEA, also attended the reception and gave a short welcome speech.

On the first day of the convention, a shuttle bus transported all members from the Se Jong hotel to Inchon Memorial Hall at Korea university, the site of the convention. After the morning sessions, the luncheon was provided by the president of Korea University. In the afternoon, the plenary session was held in a large auditorium. Hae-shin Hwang served as the chair of the session, Professors E. Han Kim and Sung Yeung Kwak presented their papers, and Professor John Riew served as a discussant. Participants in the session from the KEA were Dr. Duk Hoon Lee (KDI) and Dr. Moo-Ki Bai (Central Labor Commission) as paper presenters, and Professors Byung-Joo Kim and Choong Yong Ahn (Chung-Ang University) as discussants. It was pretty well attended, though many seats were empty because of the size of the auditorium.

There was another plenary session in the late afternoon for the guest speakers. The Minister of Finance and Economy, GyuSung Lee, read the message from President DaeJung Kim to the convention participants. After the president's message, the group chairman of Daewoo group, Woo Choong Kim, gave the key note speech, which was one of the highlights of the day. He also hosted the dinner, which was attended by a very large crowd.

On the second day, Dr. Jong Keun You, a former member of the KAEA, gave a key note speech on the cultural problems of the Korean society, that prevents the economy from introducing the competitive market discipline. Dr. Changbun Yoon, the vice president of the Korea Information Society Development Institute, presented the current status and future plans for the Korean 'informatization' in very much details. After the plenary session, Dr. Jong Keun You hosted the luncheon.

On behalf of the executive committee of the KAEA, I thank you all for your help and cooperation. Without your help, the convention could not have been successful.