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13017 results in East Asian government, politics and policy

Page 71 of 651

  • CQY volume 249 Cover and Front matter

  • Journal:
    The China Quarterly / Volume 249 / March 2022
    Published online by Cambridge University Press:
    20 April 2022, pp. f1-f5
    Print publication:
    March 2022
    • Article
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  • Off the COVID-19 Epicentre: The Impact of Quarantine Controls on Employment, Education and Health in China's Rural Communities

  • Huan Wang, Sarah-Eve Dill, Huan Zhou, Yue Ma, Hao Xue, Prashant Loyalka, Sean Sylvia, Matthew Boswell, Jason Lin, Scott Rozelle
  • Journal:
    The China Quarterly / Volume 249 / March 2022
    Published online by Cambridge University Press:
    09 March 2022, pp. 183-209
    Print publication:
    March 2022

  • This study documents the COVID-19 disease-control measures enacted in rural China and examines the economic and social impacts of these measures. We conducted two rounds of surveys with 726 randomly selected village informants across seven provinces. Strict disease-control measures have been universally enforced and appear to have been successful in limiting disease transmission in rural communities. The infection rate in our sample was 0.001 per cent, a rate that is near the national average outside of Hubei province. None of the villages reported any COVID-19-related deaths. For a full month during the quarantine, the rate of employment of rural workers was essentially zero. Even after the quarantine measures were lifted, nearly 70 per cent of the villagers still were unable to work owing to workplace closures. Although action has been taken to mitigate the potential negative effects, these disease-control measures might have accelerated the inequality between rural and urban households in China.

  • 1 - The Goals of Economic and Monetary Policy

  • from Part I - What Is the Goal of Korean Monetary Policy?
  • Woosik Moon, Seoul National University
  • Book:
    Monetary Policy and Central Banking in Korea
    Published online:
    17 February 2022
    Print publication:
    24 February 2022, pp 3-28
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  • Summary

    Economic policy refers to the actions of the state in defining its objectives and using appropriate instruments to achieve them. The objectives of government in this regard are high long-run economic growth, equitable distribution of income and wealth, and stable prices and output. Macroeconomic policies, represented by monetary and fiscal policies, are just those intended to stabilise prices and output. This chapter begins by examining historically how these policy objectives have been addressed by the Korean government, and, against this backdrop, looks at the goals of macroeconomic policy, and especially monetary policy in Korea.

  • 5 - The Monetary Policy Strategies of the Bank of Korea

  • from Part III - How Is Monetary Policy Conducted in Korea?
  • Woosik Moon, Seoul National University
  • Book:
    Monetary Policy and Central Banking in Korea
    Published online:
    17 February 2022
    Print publication:
    24 February 2022, pp 114-137

  • Summary

    To carry out monetary policy properly, central banks prepare a strategy through which they attain their goals. Initially, the BoK set its priority on stabilising exchange rates and maintaining a balance of payments surplus, but this goal was gradually overshadowed by the goal of price and output stability. Accordingly, the BoK shifted its strategy from exchange rate and monetary targeting to inflation targeting. This chapter examines the historical development of the monetary policy strategies in Korea, and the current monetary policy framework adopted by the BoK.

  • 10 - Financial Crisis and the Role of Government

  • from Part IV - How Is Financial Stability Pursued in Korea?
  • Woosik Moon, Seoul National University
  • Book:
    Monetary Policy and Central Banking in Korea
    Published online:
    17 February 2022
    Print publication:
    24 February 2022, pp 235-260

  • Summary

    Financial markets are subject to constant shocks, which can lead to crises when markets fail. Theoretically, the government can prevent such market failures. In practice, however, crises are often caused or amplified by government failure. This was particularly the case for the 1997 currency crisis in Korea. Not only did the Korean government’s inappropriate intervention trigger the crisis, but its inappropriate policy responses further transformed the initial mistakes into an economic disaster. This stands in sharp contrast to the government’s responses to the 2008 global economic crisis and the 2020 COVID-19 pandemic. This chapter overviews the roles played by the Korean government during these three crises.

  • 3 - The Transmission Channels of Money and Credit

  • from Part II - How Does Money Affect the Korean Economy?
  • Woosik Moon, Seoul National University
  • Book:
    Monetary Policy and Central Banking in Korea
    Published online:
    17 February 2022
    Print publication:
    24 February 2022, pp 54-78

  • Summary

    If wages and prices are flexible enough, money can be neutral in the long term and has little impact on business fluctuations. In the short term, however, money can affect national output and employment because wages and prices are rigid. This chapter looks at the effect of money on prices and on short-term economic fluctuations in Korea. Finally, the chapter examines the relationship (Phillips-curve relationship) between inflation and output in Korea.

Page 71 of 651