Editor's Introduction to the Special Issue

Seoul Journal of Economics, Spring 2007

Sustainable Growth in East Asia

The 14th. Seoul Journal of Economics International Symposium, which was co-hosted with the Korea Economic Research Institute (KERI) and the Korea Institute of Finance (KIF), was held on November 24, 2006 with a theme of 'Sustalnable Growth in East Asia.'

While many countries in East Asia have been growing fast until recent years, economists in the business community, governments and academics raise the question whether the same growth rate can be sustained. Dramatic changes in technology and economic environment are taking place worldwide and the countries in East Asia have to overcome a huge challenge to sustain the high growth rate. A careful examination of the critical factors which determine the growth rate in East Asia seems an important issue for policy makers and academic researchers. The Editorial Board at SJE has invited the following experts to the Symposium to present their views with the selected subjects:

Kyeong-Hoon Kong (Dongguk University) "Developing Bond Markets for Sustalnable Growth of East Asia."

Young Hoon Lee (Hansung University) and Hak K. Pyo (Seoul National University) "Productivity Growth and Patterns of Efficiency Changes in Korean Economy: Stochastic Frontier Approach with Industry-Panel Data."

Seung Chon Ahn (Arizona State University) and Stuart Low (Arizona State University) "A Parametric Test for the Distinction between Unemployed and Out of the Labor Force Statuses."

W. Erwin Diewert (University of British Columbia) and Alice O. Nakamwa (University of Alberta) "Productivity Measures and Sustalnable Prosperity."

Pilhyun Kim (Korea Economic Research Institute) "The Effects of Financial Sector Development on Innovation as an Engine of Sustained Growth."

R. Anton Broun (University of Tokyo) and Etsuro Shioji (Hitotsubashl University) "Investment Specific Technological Changes in Japan."

The Symposium was chaired by Shin-Haing Kim (Seoul National University), Chon Pyo Lee (Seoul National University), and Seung Hoon Lee (Seoul National University).

Following our guidelines, designated commentators have served as referees of each paper. The Editor requested all the contributors to revise their papers reflecting the designated commentators' remarks together with the comments and criticisms raised in the Symposium.

The Journal wishes to thank Dr. Sung-Toe Ro (President of Korea Economic Research Institute) and Dr. Heungsik Choe (President of Korea Institute of Finance) for financial support for the Symposium.