Asian nies in the region's economic recovery and the options for South Korea: The potentials for Japan-Korea FTA

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Abstract

The purpose of this paper is to discuss the options for Korea's mid-term economic recovery from the financial crisis based on regional cooperation, especially through a Japan-Korea FTA and related possible changes. First, the paper will examine reform efforts undertaken by other MEs after the financial crisis, with a clear focus on intraregional division of labor. The second part will explore what strategies ROK will be able to pursue if she wishes to establish competitive advantage like other NEs in the region. The Japan-Korea FTA (JKFTA here) will be proposed as one option with potential dynamic gains for ROK's development. Thirdly, the strategic character of JKFTA to maximize mutual advantage will be discussed with some political implications.

Original languageEnglish
Pages (from-to)79-101
Number of pages23
JournalGlobal Economic Review
Volume28
Issue number4
DOIs
Publication statusPublished - 1999
Externally publishedYes

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South Korea
Korea
Japan
financial crisis
economics
division of labor
reform
Asia
Economic recovery
Financial crisis
Regional cooperation
Competitive advantage
Division of labor

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)
  • Business and International Management
  • Political Science and International Relations

Cite this

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abstract = "The purpose of this paper is to discuss the options for Korea's mid-term economic recovery from the financial crisis based on regional cooperation, especially through a Japan-Korea FTA and related possible changes. First, the paper will examine reform efforts undertaken by other MEs after the financial crisis, with a clear focus on intraregional division of labor. The second part will explore what strategies ROK will be able to pursue if she wishes to establish competitive advantage like other NEs in the region. The Japan-Korea FTA (JKFTA here) will be proposed as one option with potential dynamic gains for ROK's development. Thirdly, the strategic character of JKFTA to maximize mutual advantage will be discussed with some political implications.",
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