The Developing Economies
Volume 41, Number 4 (December 2003)
■ The Developing Economies Volume 41, Number 4 (December 2003)
■ B5
■ 105pp
■ December 2003
For
further
information
and
to
subscribe,
visit
WILEY-BLACKWELL
PDF
files
can
be
viewed
for
articles
that
were
published
by
2005.
CONTENTS
Effects of the Real Exchange Rate on Output and Inflation: Evidence from Turkey (515KB) / Hakan Berument and Mehmet Pasaogullari
Import Liberalization and Productivity Growth in Indian Manufacturing Industries in the 1990s (479KB) / Bishwanath Goldar and Anita Kumari
Effect of IT Job Training on Employment and Wage Premium: Evidence from Korea Panel Data (87KB) / Hong-kyun Kim and Ilsoon Shin
Are Private Transfers Altruistically Motivated? The Case of the Republic of Korea before and during the Financial Crisis (74KB) / Sung Jin Kang and Yasuyuki Sawada
Book Reviews
Abstract
Hakan
Berument
and
Mehmet
Pasaogullari,
"Effects
of
the
Real
Exchange
Rate
on
Output
and
Inflation:
Evidence
from
Turkey,"
pp.
401-35.
This
paper
assesses
the
effects
of
real
depreciation
on
the
economic
performance
of
Turkey
by
considering
quarterly
data
from
1987:I
to
2001:III.
The
empirical
evidence
suggests
that,
contrary
to
classical
wisdom,
the
real
depreciations
are
contractionary,
even
when
external
factors
like
world
interest
rates,
international
trade,
and
capital
flows
are
controlled.
Moreover,
the
results
obtained
from
the
analyses
indicate
that
real
exchange
rate
depreciations
are
inflationary.
Bishwanath
Goldar
and
Anita
Kumari,
"Import
Liberalization
and
Productivity
Growth
in
Indian
Manufacturing
Industries
in
the
1990s,"
pp.
436-60.
Total
factor
productivity
growth
in
Indian
manufacturing
decelerated
in
the
1990s,
a
decade
of
major
economic
reforms
in
India.
Econometric
analysis
presented
in
the
paper
indicates
that
the
lowering
of
effective
protection
to
industries
favorably
affected
productivity
growth.
The
results
suggest
that
gestation
lags
in
investment
projects
and
slower
agricultural
growth
in
the
1990s
had
an
adverse
effect
on
productivity
growth.
The
analysis
reveals
that
underutilization
of
industrial
capacity
was
an
important
cause
of
the
productivity
slowdown.
With
corrections
for
capacity
utilization,
the
estimated
productivity
growth
in
the
1990s
is
found
to
be
about
the
same
as
in
the
1980s.
Hong-kyun
Kim
and
Ilsoon
Shin,
"Effect
of
IT
Job
Training
on
Employment
and
Wage
Premium:
Evidence
from
Korea
Panel
Data,"
pp.
461-83.
In
this
paper,
we
examine
whether
IT
job
training
raises
the
probability
of
getting
employed
and
enables
the
trainee
to
obtain
a
high
wage.
In
this
paper,
it
is
reported
that,
in
the
Republic
of
Korea,
IT
job
training
as
a
whole
affects
not
only
employment
but
also
wage
premium,
even
though
the
effect
on
wage
premium
is
somewhat
less
conspicuous.
In
particular,
the
intensity
of
IT
job
training
is
more
instrumental
in
the
opportunity
of
getting
employed
than
simply
whether
receiving
IT
job
training
or
not.
This
effect
is
intensified
in
the
low-education
group.
In
this
group,
the
probability
for
the
persons
who
undergo
IT
job
training
for
more
than
six
months
of
getting
employed
is
higher
than
that
for
a
person
without
any
job
training.
Additionally,
provision
of
IT
job
training
by
a
private
institute
and
cost
sharing
with
the
government
enhances
the
opportunity
of
employment.
Sung
Jin
Kang
and
Yasuyuki
Sawada,
"Are
Private
Transfers
Altruistically
Motivated?
The
Case
of
the
Republic
of
Korea
before
and
during
the
Financial
Crisis,"
pp.
484-501.
Using
household
panel
data
from
Korea
for
1995-98,
this
paper
shows
that
private
transfers
of
Korean
households
were
altruistically
motivated.
Although
the
altruistic
motive
of
households
seemed
to
be
reinforced
during
the
financial
crisis,
the
amount
of
private
transfers
was
still
not
sufficient
to
support
households
living
in
urban
areas.
Also,
there
had
been
a
strong
crowding-out
relation
between
private
and
public
transfers.
This
suggests
that
the
Korean
government
should
have
designed
its
public
transfer
scheme
carefully
in
order
to
improve
the
effectiveness
and
efficiency
of
its
social
safety
net
programs.