Innovation-Technology-in-Korea

It contains two books:

Innovation and Technology in Korea by Jörg Mahlich

Only inadequately perceived by the Western public, Korea has transformed into an economic heavy weight during recent decades. The Korean government believes it can turn it into one of the top 10 competitive economies until 2010.

This goal does not sound overambitious as Korea has undergone tremendous efforts in order to forge ahead in the field of research and development. In some high tech industries, Korean firms have advanced into leading players in the global market place and are increasingly challenging their international competitors.

Against this background, the volume offers an in-depth analysis of the Korean innovation system and shows how its science and technology policies actually work. As Korea’s economy is now reaching the status of a newly advanced economy, the book also takes a close look on ongoing structural changes in the course of economic globalization.

Regulated Deregulation of the Financial System in Korea World Bank Discussion Papers by Dalla, Ismail.; Khatkhate, Deena R. Publisher: World Bank

It is now well recognized that the dismantling of interest rate ceiling in many countries have been conceived without regard to the state of the economy, state of the banking system and its nature, the quality of the liability structure of the borrowing firms and the host of other lesser issues. It was not therefore surprising that actual results of interest rate deregulation in several countries following a standard prescription totally diverged from what was intuitively expected. The increased freedom of entry into the financial sector resulting in indiscriminate bidding for fund can raise interest rate levels to excessively high level.

The structure of the banking system that emerges from regulatory changes can also result in concentration of power in banking, increased interlocking ownership and concentrated lending; such an environment is particularly vulnerable to market failure.

The belief that in the deregulatory environment interest rates would find their true equilibrium value or they could automatically tend to converge to international rates over time, has also been falsified by the experience. These unexpected results came about not only because the interest rate deregulation was introduced in the midst of macro-economic instability - this rationale is.

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