We study how low interest rates in the United States affect risk taking in the market of crossborder leveraged corporate loans. To the extent that actions of the Federal Reserve affect U.S. interest rates, our analysis provides evidence of a cross-border spillover effect of monetary policy. We find that before the crisis, lenders made ex-ante riskier loans to non- U.S. borrowers in response to a decline in short-term U.S. interest rates, and, after it, in response to a decline in longer-term U.S. interest rates. Economic uncertainty and risk appetite appear to play a limited role in explaining ex-ante credit risk. Our results highlight the potential policy challenges faced by central banks in affecting credit risk cycles in their own jurisdictions.
How did a country with a dearth of natural resources, a sprawling population congested in a limited arable land transform itself to a modern industrial state within a generation? How could these have been achieved given the lingering geopolitical threats to its very survival as a state, as evidenced by the Korean War and the internecine aggressive posturing of its neighbor from the north? This book looks at strategies, institutional arrangement, role of entrepreneurs and workers in this odyssey, and on how those factors have worked together through effective leadership to transform South Korea’s economic fortunes.
At the turn of the second millennium, Koreans face multiple challenges at home and abroad. South Korea is still in the throes of democratisation and economic reforms, while North Korea faces food shortages and other economic difficulties. The two Koreas need to manage the unification process so as to bring about national harmony and promote economic prosperity. The Korean people need to devise a new security strategy for a unified Korea to ensure its survival and independence in the early 21st century. This collection is divided into three parts, and each addresses an important issue area confronting the Korean people in the 21st century. Part I examines South Korea's democratisation and economic reforms against the backdrop of the East Asian financial crisis. Part II discusses the problems and prospects for inter-Korean relations and the characteristics of North Korea's foreign policy behaviour. Part III analyses South Korea's security relations with the four major powers at the turn of the new millennium. All chapters are written by renowned experts in their fields and offer valuable insights into the dynamics of the two Korean's domestic politics and foreign policy.
HVDC grids and super grids have sparked so much interest these days that researchers and engineers across the globe are talking about them, studying them, supporting them, or questioning them. This book provides valuable information for researchers, industry, and policy makers. It explains why HVDC is favorable over AC technologies for power transmission; what the key technologies and challenges are for developing an HVDC grid; how an HVDC grid will be designed and operated; and how future HVDC grids will evolve. The book also devotes significant attention to nontechnical aspects such as the influence of energy policy and regulatory frameworks.This book is a result of collaboration between industry and academia. It provides theoretical insights into the design and control of MMC technology and investigates practical aspects of the project planning, design, manufacture, implementation, and commissioning of MMC-HVDC and multi-terminal HVDC transmission technologies; filling the knowledge gap between the technology specialists and VSC-HVDC project developers and key personnel involved in those projects.
This book will be informative and challenging for scientists, enlightening and stimulating for intellectuals and serious students, and highly beneficial and interesting for Alzheimer’s workers and the public. The first half is a historical account of recent scientific discoveries on calcium (Ca2+) storage and control organelles in cells, explaining the major role of secretory granules in the cytoplasm and the newly identified nucleoplasmic Ca2+ store vesicles in the nucleus. The second half not only presents unprecedented and highly relevant information on the pathogenic process of Alzheimer’s disease and current research, but also introduces Alzheimer’s therapeutics, which is ready to proceed to clinical trials. In light of this, it contains valuable information which will greatly benefit Alzheimer’s workers, patients, the families, and anybody interested in Alzheimer’s disease.
A permanent peace regime on the Korean peninsula has yet to be achieved even though the Korean War came to a halt more than half a century ago. Without a peace treaty formally ending the Korean War, the two Korean states are technically still at war. The current situation on the Korean peninsula is extremely tense and precarious, and tensions and distrust between the two Koreas and between the U.S. and North Korea escalated in the wake of North Korea's second underground nuclear weapons testing in 2009. The editors of this volume conceptually present a two-track (inter-Korean and international) approach to Korean peninsula peace-regime building. They argue that an inter-Korean and international approach should be pursued simultaneously for the construction of a permanent peace regime on the Korean peninsula. The contributing authors are established specialists and experts on Korean foreign relations and Northeast Asian international relations. As natives of the U.S., Korea, China, and Japan, they provide objective, scholarly and diverse perspectives on the Korean peace regime building.
Relations between the two Koreas continue to be hostile, volatile and unpredictable with North Korea’s nuclear issue remaining as untamed as ever. As such, there is a growing urgency for security cooperation in Northeast Asia to be given immediate attention. The key players in the region - the US, China, Japan and Russia - are keenly aware of the security threat of an armed clash between North and South Korea and are committed to denuclearization of the Korean peninsula. This book explores the domestic factors of the two Koreas and the four major powers that influence their security policies towards North Korea and Northeast Asia. This well thought out and consistently analysed volume has huge potential to frame the conversation on Northeast Asian relations in the coming years.
Cinema under National Reconstruction calls for a revisionist understanding of state film censorship during successive Cold War military regimes in South Korea (1961–1988). Drawing upon primary documents from the Korean Film Archive’s digitized database and framing South Korean film censorship from a transnational perspective, Hye Seung Chung makes the case that, while political oppression/repression existed inside and outside the film industry during this period, film censorship was not simply a tool for authoritarian dictatorship. Through such case studies as Yu Hyun-mok’s The Stray Bullet (1961), Ha Kil-jong’s The March of the Fools (1975), and Yi Chang-ho’s Declaration of Fools (1983), the author defines censorship as a dialogical process of cultural negotiations wherein the state, the film industry, and the public fight out a battle over the definitions and functions of national cinema. In the context of Cold War Korea, one cannot fully understand or construct film history without reassessing censorship as a productive feedback system where both state regulators and filmmakers played active roles in shaping the new narrative or sentiment of the nation on the big screen.
The Democratic People's Republic of Korea (North Korea) joined the rank of nuclear powers in October 2006 after exploding its first nuclear device. The test was not fully successful yet it unequivocally demonstrated North Korea's nuclear weapons capability. North Korea under the leadership of Kim Jong-il remains as unpredictable and mysterious as ever. This comprehensive study brings together leading scholars in the field to examine the country's current foreign policy under Kim Jong-il as well as its bilateral relations with the USA, China, Russia, Japan and South Korea.
As the two billion YouTube views for “Gangnam Style” would indicate, South Korean popular culture has begun to enjoy new prominence on the global stage. Yet, as this timely new study reveals, the nation’s film industry has long been a hub for transnational exchange, producing movies that put a unique spin on familiar genres, while influencing world cinema from Hollywood to Bollywood. Movie Migrations is not only an introduction to one of the world’s most vibrant national cinemas, but also a provocative call to reimagine the very concepts of “national cinemas” and “film genre.” Challenging traditional critical assumptions that place Hollywood at the center of genre production, Hye Seung Chung and David Scott Diffrient bring South Korean cinema to the forefront of recent and ongoing debates about globalization and transnationalism. In each chapter they track a different way that South Korean filmmakers have adapted material from foreign sources, resulting in everything from the Manchurian Western to The Host’s reinvention of the Godzilla mythos. Spanning a wide range of genres, the book introduces readers to classics from the 1950s and 1960s Golden Age of South Korean cinema, while offering fresh perspectives on recent favorites like Oldboy and Thirst. Perfect not only for fans of Korean film, but for anyone curious about media in an era of globalization, Movie Migrations will give readers a new appreciation for the creative act of cross-cultural adaptation.
This book asks what strategies women’s movements can employ to induce law and policy changes at the national level that will assist women’s equality without sacrificing their feminist energy, movement cohesiveness and core feminist commitments. The book takes up this question in order to emphasize the need not only to recognize the accomplishments of women’s movements through political participation, but also to analyze the process through which feminist organizations interact with formal politics. It examines the institutionalization of the Korean women’s movement under the progressive presidencies of Kim Dae Jung (1998-2002) and Roh Moo Hyun (2003-2007), focusing on three major pieces of legislation concerning women’s rights that were enacted during this time, and looks at the process of gender politics and the strategic bargains that needed to be made between the women’s movement and other political forces in order to advance their agenda. It questions whether the institutionalization of the women’s movement inevitably results in demobilization and deradicalization, and goes on to examine the relationship between the women’s movement and the government over the two most women-friendly administrations in South Korean history, a period marked by flourishing civil society activism and participatory democracy.
In the post-Cold War era, US relations with the two Korean states - the Republic of Korea (ROK) and the Democratic People's Republic of Korea (DPRK) - have been undergoing profound changes, with critical and immediate repercussions for peace and security in the Korean Peninsula and Northeast Asia. This volume examines the key political, security and economic aspects of US-ROK and US-DPRK relations, focusing on the current status, salient issues and future prospects. Drs Kwak and Joo are distinguished professionals in the field and their volume constitutes a very interesting addition to the available literature.
Rights advocacy has become a prominent facet of South Korea's increasingly transnational motion picture output, and today films about political prisoners, undocumented workers, and people with disabilities attract mainstream attention. Movie Minorities offers the first English-language study of Korean cinema's role in helping to galvanize activist social movements across these and other identity-based categories.
This study complements the burgeoning literature on South Korean economic development by considering it from the perspective of young female factory workers. In approaching development from this position, Kim explores the opportunity and exploitation that development has presented to female workers and humanizes the notion of the 'Korean economic miracle' by examining its impact on their lives. Kim looks at the conflicts and ambivalences of young women as they participate in the industrial work force and simultaneously grapple with defining their roles in respect to marriage and motherhood within conventional family structures. The book explores the women's individual and collective struggles to improve their positions and examines their links with other political forces within the labor movement. She analyses how female workers envision their place in society, how they cope with economic and social marginalisation in their daily lives, and how they develop strategies for a better future.
This volume comprises papers presented at the 2nd International Conference on Advanced Nondestructive Evaluation (ANDE 2007) held in Busan, Korea, on October 17-19, 2007. Many of the excellent papers included in this book show the current state of nondestructive technologies, which are experiencing rapid progress with the integration of emerging technologies in various fields. As such, this volume provides an avenue for both specialists and scholars to share their ideas and the results of their findings in the field of nondestructive evaluation.
Despite recent achievements in the South Korean economy and development within welfare institutions, new forms of precarious work continue to prevail. This book introduces the concept of ‘melting labour’, which refers to the blurring of boundaries between traditional forms of work and workplace and the dissolution of standard employment relationships. Presenting a theoretical framework at the intersection of ‘melting labour’ and institutional protection of workers, it addresses how and why the Korean welfare state has failed to protect precarious workers. Based on rich, in-depth interviews with over 80 precarious workers in Korea, from subcontracted manufacturing workers to platform workers, it provides a real depiction of how workers lose control over their lives and experience precariousness in labour markets.
Magnetorheological Fluid Technology: Applications in Vehicle Systems compiles the authors' recent work involving the application of magnetorheological (MR) fluids and other smart materials in vehicles. It collects concepts that have previously been scattered in peer-reviewed international journals. After introducing the physical phenomena and prope
This book presents state of the art knowledge on new techniques and materials that can improve functional and aesthetic results in wound healing while reducing invasiveness, based on the author's extensive personal experience. The aim is to equip the practitioner with all the information required in order to select a strategy that will accelerate wound healing and minimize both the risk of complications and scar formation after the wound has fully healed. The opening chapters set the stage by providing an overview of wound healing, including brief descriptions of the anatomy of the skin, the wound healing process, and advanced wound dressings. A full description follows of the various methodologies employed in repairing acute wounds with the goal of achieving optimal functional and cosmetic outcomes while utilizing the safest and least invasive method. Treatment protocols that have proven successful in closing nonhealing and/or delayed healing chronic wounds are then presented. In addition, a chapter addresses aesthetic procedures using advanced technology in wound healing. The closing chapter presents author’s experience with the establishment a hospital wound dressing team. The text is supported by 1,411 full color photos. Since the publication of the second edition, there have been many notable advances in wound healing research. The third edition is expanded and updated to reflect the advancements and new information. Key revisions include new chapters and/or sections on recently developed dressings such as a bioelectric dressing, a fluorescence imaging device of bacteria, usefulness of fibrin glue to support wound healing, graft of 3D-printed micronized adipose tissue, significance of skin hydration level for wound healing, novel staged excision technique to reduce scar length, newly developed risk scoring system to predict wound healing outcomes in diabetic patients, expanded coverage of cell therapy, new devices such as extracorporeal shock wave therapy, and automated SVF cell isolation system.
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