• KDI Journal of Economic Policy
• /
• v.46 no.1
• /
• pp.1-19
• /
• 2024

This paper evaluates explanations for China's growth slowdown. The natural tendency for rapidly growing economies to slow down is a major factor, along with problems bequeathed by unbalanced growth, including a declining ICOR, slowing total factor productivity growth, and rising indebtedness. A number of other mechanisms are of lesser importance: demographics, President Xi's centralization of political power and anti-corruption campaign, and U.S. export controls. Sustaining growth in the longer term will require China to step away from investment, debt and export-fueled growth in favor of a balanced growth model with household consumption playing a larger role. Doing so will require hardening of the budget constraints of regional and local governments and restructuring of the nonperforming debts of property and construction companies.

• KDI Journal of Economic Policy
• /
• v.13 no.2
• /
• pp.41-67
• /
• 1991

Local autonomy of Korea's lower-level local council has been reinstated following elections last March for the first time in thirty years. Last June, we had elections for the upper-level local council. Mayors, governors, and administrative chiefs of cities, provinces and other local government bodies are slated for elections in the first half of next year. The impacts of local autonomy are taking effect in not only the political sphere, but also the administrative and economic spheres. In fact, it seems that some modification of all economic policy making and administration is inevitable. Since the initiation of local autonomy, in order to make the economy work more efficiently, it has become quite important to examine the impact of local autonomy on the national economy. The areas of local autonomy include independent legislative power, administrative power, organizational power, and most important of all, the independent public financial power of the local governments. The purpose of this paper is to examine the effects of local autonomy on the national economy and ways of enhancing the role of local public finance to facilitate settlement and development of the local autonomy system. Local autonomy will contribute to the continuous growth of our economy, allow balanced development, and generate greater efficiency. However, local autonomy can also incur economic costs causing at times short-term price instability, inefficient resource allocation, through tax competition and tax exporting, and insolvency of local government due to abusive fiscal operation. To reduce these side effects, different alternatives must be considered. Local autonomy systems generally provide more efficient resource allocation than centralization. But in the model used in Chapter 3 of this paper, the relative efficiencies of both local autonomy and centralization are determined by comparing the elasticity of substitution between national public goods and local public goods. If the elasticity of substitution is bigger than one, centralization provides a more efficient resource allocation. The development of local autonomy could be attained through democratization of the local public finance system including the following three propositions. I) The independence of public financial power of local governments should be established over central government. Furthermore, a democratically operated scheme of intergovernmental fiscal coordination is especially necessary. 2) In the operation of local finance, direct democracy is needed to induce the voluntary participation of local residents. The residents can take part in planning both the local budget and the development of the community. To attain this goal, all the results of local finance operations should be made public. 3) Among economic ill-effects of the local autonomy system, the most serious one is the possibility of insolvency of local governments. Therefore, measures to limit abusive spending by the local governments should be introduced, such as the fiscal restraints system adopted in the United States.

• Journal of Digital Convergence
• /
• v.10 no.5
• /
• pp.207-213
• /
• 2012

ICT industry in Korea was constituted an industry in early 1980's and has been growing more and more since then. In the process of this growth, most of the large ICT companies in Chaebeols has been absorbing in undemocratic economic behaviors. As a result, the sales and the profit of Cheabeols and large companies has been increasing by geometrical progression, but most of small and medium cooperative companies of these big corporations have been eking a scanty existence. And many of them had gone belly up. This article will propose the digital economic democratization as an alternative to overcome the present undemocratic economic situation in the digital economic field and to develop the healthy ICT industry, and to preliminarily study the concept, elements and meaning of the digital economic democratization.

• Journal of the Korean association of regional geographers
• /
• v.16 no.4
• /
• pp.355-368
• /
• 2010

This study is to make a framework of newly interpretating the dynamic change of regional or local landscape rapidly occurred after the establishment of the nation state and capitalistic system. The basic concepts of making an interpretative framework are power, subjectivity, and performativity. The framework of closely interrelating the three concepts developed in the near future will be applied to the interpretation of variety of (de)centralized landscapes in regions or locals. A centralized political power under the nation state has destroyed or marginalized the historically developed landscapes, traditional culture, and subjects' values in regions or locals by the political implementation of the nation state, the establishment of national identity, a centralized economic development, and so on. The landscapes produced by the political power of the nation state can take a role as a cause of conflicts in regions or locals in terms of a historical perspective. Landscapes are being made by various subjects, and the produced landscapes also positively or negatively will influence the emotion, cognition, and behavior of the subjects particularly in a performative perspective. The dynamics interrelation between subjects and landscapes has been disguised or marginalized by reason/rationality, totality/collectivity, the separation between reason and emotion mainly made by modernism, the nation state, a capitalistic system. The interrelation between landscapes and subjects is especially emphasized on people's resistibility and creativity. Lastly, landscape is not a concept given as a priori or (re)presented objectively. It is not also a material or an object independently existed from a subject's emotion and cognition. It should be interpreted through a performative relation with subjects. Performativity will take an active role of combining the materiality of landscape, power, and subjectivity. It is also important to understand the active role of landscapes.

• The Research Journal of the Costume Culture
• /
• v.6 no.1
• /
• pp.1-13
• /
• 1998

As for the taboo of dress and its ornaments which was applied to only populace one-sidedly mainly under the power structure of feudalistic centralization of government like Chosun dynasty, the aspect of taboo was diversified all the more by having relation with various phenomenon of social structure characteristics, and the taboo items to be given in accordance with the flow of time shows the diversity. Especially, the structure of dress and its ornaments in Chosun period showed the side of social position relation and luxury control, and the taboo of dress and its ornaments which was derived from the current thought about China was given frequently. To respect the frugal virtue and moderate the life has relation with the stream of the times in individuals or nations. And, that it is externalized is dress and its ornaments. As the luxury about dress and its ornaments was serious in accordance with times, it appeared by having relation with whole economic question of nations. Then, this researcher thought this by relating this to the culture of customs. This researcher thought that the luxury about clothing gets to go to extremes and the law and order collapses, according as public morals get to be very lax. And, it can be said that the way to be able to control this is that the customs should be thoroughly obeyed and that the system to be able to play the role of braking is taboo. So, this researcher thinks that it is significant to examine the achievement which has contributed toward the life of dress and its ornaments by successive kinds on the basis of a true record of the Vidynasty and other all sorts of literatures about the real situation of prohibition order which has been from the first king to Kojong at the last period of nation. The criticism and taboo about luxury which have been discussed at Chosun period may be subdivided into some kinds in accordance with the subjects. But, in this tests, as it sis the real situation that the case to be due to the lavish necessary articles for marriage which is coming to fore as our social problem nowadays is increasing remarkably, this researcher tries to examine the taboo about the marriage luxury at Chosun period in the order of successive generations. Thus, before examining the taboo of marriage luxury, this researcher tries to examine about the taboo of textile luxury and study the taboo of marriage luxury, as the marriage luxury governs almost everything of textile luxury and it is regarded as the origin of marriage luxury, especially. And, this researcher tries to study as to how was the penal regulations based on it at the same time.