May 1, 2025

Jungsoo Park

Current Position

• Professor, Department of Economics, Sogang University 

• Dean, College of Economics

• Dean, Graduate School of Economics

Primary Field of Research

• Macroeconomics/Growth

• Economics of Banking and Finance

• International Economics

• Economics of Innovation

Teaching Experience

• Professor, Department of Economics, Sogang University, Seoul, Korea (Sept. 2010 - )

• Associate Professor, Department of Economics, Sogang University, Seoul, Korea (Sept. 2005 – Aug. 2010)

• Assistant Professor, Department of Economics, State University of New York at Buffalo, NY. (Sept. 1998- Aug. 2005)

Professional Experience

• Board Member, Korean Society for Bioeconomy (May 2017 - present) 

• Council Member, National Economic Advisory Council for the President of Korea (2015, 2016, 2024)

• Vice President, Korean Money and Finance Association (2021, 2023)

• Vice President, Korean Economic Association (Feb 2023 – Feb 2024)

• Board Member, Korean Economic Association (2016, 2017, 2019, 2021)

• Board Member, National Happy Fund (2019 - 2022)

• Head of Global City Competitiveness Division, Seoul City Vision 2030 Council (May 2021 – July 2021)

• Editor-in-Chief, Journal of Korean Economic Analysis (February 2019 – January 2021)

• Director, Nam Duck-Woo Economic Research Institute (March 2021– January 2022)

• Board Member, Korean Money and Finance Association (May 2017 – May 2019)

• Board Member, Korean Association of Industrial Organization (February 2016 – February 2018)

• Council Member, National Economic Advisory Council for the President of Korea (February 2015 – Februrary 2017)

• Visiting Research Associate, Market Economy Research Institute (2010 – present)

• Associate Dean, Graduate School of Economics, Sogang University (January 2013 – January 2015 )

• President, Korean Association of Applied Economics (April 2014 – April 2015)

• Editor-in-Chief, Journal of Market Economy (June 2014 – February 2016)

• Associate Professor, Department of Economics, Sogang University, Seoul, Korea (Sept. 2005 – Aug. 2010)

• Editor-in-Chief, Korea Review of Applied Economics (March 2008 – June 2010)

• Visiting Scholar, Nihon University, Tokyo (Summer 2006)

• Visiting Scholar, Asia Pacific Research Center (APARC), Stanford University. (Summer 2001).

• Visiting Scholar, Stanford Institute for Economic Policy and Research (SIEPR), Stanford University. (Summer 1999).

Publications  (International Refereed Journals)

1. "Middle-Income Country Trap and Total Factor Productivity Growth" (with Young Hoon Lee) Pacific Economic Review 29(2),  May 2024, 214-229

2. "Why Do Real Wages Stagnate in Japan and Korea" (with Hyunbae Chun, Kyoji Fukao, Hyeog Ug Kwon) Asian Economic Papers 23(1), Winter/Spring 2024, 116-139

3. "Heterogeneous Effect of Uncertainty on Corporate Investment: Evidence from Listed Korean Firms" (with Cheonkoo Kim, Donghyun Park, ShuTian) International Journal of Empirical Economics 2(4), 2023, 2350013-1 ~ 26.

4. "Non-Interest Income and Bank Performance during the Financial Crisis" (with Bokyung Park, Joon Chae) Applied Economics Letters, 26(20), March 2019, 1683-1688

5. “R&D, Foreign Ownership and Corporate Group: Evidence from Japanese firm-level data” (with Hyeog Ug Kwon) Research Policy, 47(2), March 2018, 428-439

6. “The Role of Total Factor Productivity Growth in Middle Income Countries” (with Jungsuk Kim) Emerging Markets Finance and Trade 54(6), June 2018, 1264-1284

7. “Foreign Direct Investment and International R&D Spillovers in OECD Countries Revisited” (with Suyi Kim) Journal of Institutional and Theoretical Economics, 173(3), September 2017, 431-453

8. “Do Bank Loans to Financially Distressed Firms Lead to Innovation?” (with Minjung Kim) Japanese Economic Review 68(2), June 2017, 244-256

9. “Bank Creditor Structure and Bank Risk during Liquidity Crises: A Survey with Policy Implications”(with Hyun-Han Shin and Jeong Ho Suh) International Finance Review 14, December 2013, 433~447

10. “Foreign Direct Investment and Country-Specific Human Capital.” (with Jinyoung Kim) Economic Inquiry 51(1), January 2013, 198-210

11. “Total Factor Productivity Growth for 12 Asian Economies: the Past and the Future" Japan and the World Economy 24(2), March 2012, 114-127

12. “Why Do Price Limits Exist in Stock Markets? A Manipulation-Based Explanation” (with Kenneth A. Kim) European Financial Management 16(2), March 2010, 296-318

13. “The Intensity and Externality Effects of Information Technology Investments on National Productivity Growth" (with Hyun-Han Shin and Seung Kyoon Shin), IEEE Transactions on Engineering Management 54(4), November 2007, 716-728,

14. “Impact of International Information Technology Transfer on National Productivity” (with Seung Kyoon Shin and G. Lawrence Sanders), Information Systems Research 18(1), March 2007, 86-102.

15. “Dispersion of Human Capital and Economic Growth.” Journal of Macroeconomics 28(3), September 2006, 520-539.

16. “Accumulation, Technical Progress, and Increasing Returns in the Economic Growth of East Asia.” (with Hang K. Ryu) Journal of Productivity Analysis 25(3), June 2006, 243-255

17. “International and Intersectoral R&D Spillovers in OECD and East Asian Economies.” Economic Inquiry 42(4), October 2004, 739-757.

18. “International Student Flows and R&D Spillovers.” Economics Letters 82, March 2004, 315-320.

Publications (Korean Refereed Journals)

1. "The Adoption of Digital Transformation Technology and Firm-level Labor Productivity" (with Seungil Lee) Korea Review of Applied Economics 27(1), March 2025, 5-31

2. "Analysis on Rescheduled Debts of Individual Work-out Program" (with Donghoon Ryu, Joo-Ha Nam) Financial Stability Studies 22(2), December 2021, 139-168

3. "Uncertainty and Investment Irreversibility" (with Cheonkoo Kim) Korea Review of Applied Economics 22(4), December 2020, 5-42

4. "Does Credit Supply Accelerate Business Cycle Changes in Korea?: Some New Evidence by Incorporating Regime Changes" (with Sei-Wan Kim, Jinill Kim) Journal of Economic Theory and Econometrics 31(2), June 2020, 19–39

5. "Self-Employment Sector and Functional Income Distribution of Korean Economy" Korea Economic Forum,12(4), 2020, 27-68

6. "Labor Productivity and Wage in Korean Economy" Korea Economic Forum, 12(1), 2019, 81-112

7. "Adequacy and Growth Effect of Finance in Korea" (with Cheonkoo Kim) Journal of Money and Finance, 32(3), 2018. 1~36.

8. "Finance and Growth in Korea: Financial System Inefficiency and Excessive Finance" (with Hail Park, Yung Chul Park, Junghwan Park) Journal of Korean Economic Analysis 24(1), 2018, 107~172.

9. “Analysis on the Effectiveness of Individual Workout Program” (with Joo-Ha Nam) Journal of Korean Economic Analysis 23(3), 2017, 1-53

10. “Influence of Affiliated Company Transaction on Innovative Activities of Firms” (with Sun Ok Kim) The Korean Journal of Industrial Organization 25(3), 2017, 1-30

11. “Did the Funding Structure of Foreign Bank Affiliates Affect Capital Outflows in the Great Recession?: Evidence from U.S. Global Banks” (with Eunju Lee) Asian Review of Financial Research 29(2), May 2016, 265-318 (in English)

12. “Are the Funding Strategies and Bank Risk Different in Greenfield and Takeover Banks? Evidence from Foreign Banks in Bulgaria” (with Eunju Lee) International Business Review 19(3), March 2016, 1-43 (in English)

13. “Is Deregulating Capital Region Regulation Impossible? A Need for a Practical Approach.” (with Sung-Ho Choi and Moosang Cho) Journal of Regulation Studies 24, Sept. 2015, 123-169

14. “The Influence of Foreign Bank Presence and Its Funding Structure on Capital Inflows: Evidence from Emerging Economies” (with Eunju Lee) Journal of Money & Finance 29(2), June 2015, 93-130 (in English)

15. “The Role of Internal R&D and R&D Cooperation in Technological Innovation.” (with Eun Young Choi) Journal of Technology Innovation 23(1), Feb. 2015, 61-86.

16. “ A Study on the Validity of New Debt Relief Program by the National Happiness Fund” (with Joo-Ha Nam, Jungmin Lee, Sok Chul Hong) Korea Review of Applied Economics 16(2), Sept. 2014, 5-30 (in Korean)

17. “The Effect of Loan Expansion on Bank Profitability and Risk: Evidence from Bankscope Database.” (with Jeong Ho Suh and Bokyung Park) Kukje Kyungje Yongu 19(1), March 2013, 51-73 (in Korean)

18. The Size, Effects, and Efficiency of Internet Economy in Korea.” (with Ilsoon Shin and Seonghoon Jeon) International Telecommunications Policy Review 19(2), June 2012, 33-67 (in English)

19. “Predictive Power of Forecasts by Domestic and Foreign Research Institutions.” (with Noh-Sun Kwark and Hahn Shik Lee) ) Journal of Korean Economic Studies 29(3), September 2011, 35~70 (in Korean)

20. "Productivity Effect of Industrial Policy in Korea: Empirical Analysis based on Public R&D and Entry Regulation Reduction Policy" (with Sung-ho Choi) Korean Economic Analysis 17(2), September 2011, 1~67 (in Korean)

21. "Foreign Ownership and R&D Investment: Empirical Evidence from Korean Firm-level Data" Kukje Kyungje Yongu 17(2) August 2011, 117~140 (in Korean)

22. “The Effects of the Structural Change on the Productivity of the Korean Banks," (with Eunyoung Cho and Sun Ok Kim), Korea Review of Applied Economics, 13(1), June 2011, 55~82 (in Korean)

23. “Global Financial Crisis and Business Strategies of Korean Commercial Banks: Evaluation and Implications” (with Jeong Ho Suh and Joon-Ho Hahm) Journal of Korean Economic Studies 28(4), Dec. 2010, 251-307 (in Korean)

24. “The Impact of Depositor Structure on Bank Risk in Liquidity Crisis” (with Jeong Ho Suh and Hyun-Han Shin) Journal of Money & Finance 24(1), March 2010, 99-129 (in Korean)

25. “Optimal Board Strength and Project Initiation,”(with Doyoung Kim) Korea Journal of Industrial Organization 17(2), June 2009, 1-22

26. “Evaluation on Financial Policies in Korea after the Financial Crisis Based on Market-Friendliness and Efficiency” (with Hong-Kyun Kim and Noh-Sun Kwark) The Journal of Regulation Studies 17(1), June 2008, 183-220 (in Korean)

27. “International Comparison of Japanese and Korean Banking Efficiency,” (with Tomohiko Inui and Hyun-Han Shin) Seoul Journal of Economics 21(1), Spring 2008, 195-223.

28. "International Fiscal Coordination under Imperfect Information" (with Kang-Oh Yi and Doyoung Kim), Korean Economic Review 23(2), Winter 2007, 303-328.

29. "Optimal Expensing of Multinational Corporation's R&D in the Presence of Externalities" (with Sukwhan Ahn), Korea Review of Applied Economics 9(3), December 2007, 119-150

30. “Transition of Growth Paradigm in the East Asia.” Korea Review of Applied Economics 5(1), June 2003, 5-26.

31. “The Role of R&D Investments and International R&D Spillovers in East Asian Economic Growth.” Korea Review of Applied Economics 4(2), Dec. 2002, 27-49. 

Books

• Technological Change and Inequality in Korea, a book chapter in Shifting Paradigms: Growth, Finance, Jobs, and Inequality in the Digital Economy, Brookings Institution Press, 2022

• Korean Economy Facing Challenges, Hakhyeon Publishing Co., 2019

• Financial Inclusion and Future of the Financially Poor, Hongmoon Publishing Co., 2017

• Directions for Finanical Reform to Develop the Korean Banking Industry, Hongmoon Publishing Co., 2015

Courses Taught

• Graduate level: Seminar in Banking and Finance, International Finance, Applied Monetary Economics, Monetary Economics

• Undergraduate level: International Financial Markets, International Finance, Macroeconomics, Microeconomics, Mathematics for Economists, Development Economics, Economics of East Asia

Fellowships, Grants and Awards

• Social Science Korea (SSK), Final Stage, National Research Foundation of Korea Grant (2016-2021), Principal Investigator

• Social Science Korea (SSK), Second Stage, National Research Foundation of Korea Grant (2013-2016), Principal Investigator

• Social Science Korea (SSK), First Stage, National Research Foundation of Korea Grant   (2010-2013), Principal Investigator

• 2010 The Best Paper Award, Korean Money and Finance Association (June 2010)

• 2008 Namsan Academic Award, Korea Association of Applied Economics (April 2008)

• Junior Scholar Grant, Korea Foundation Research Grant  (2008-2009)

• Special Faculty Research Grant, Sogang University (2006-2007, 2008-2009)

• Summer Faculty Grant, Research Foundation, SUNY at Buffalo. (Summer 2000)

• Stanford University Research Assistant Scholarship, Stanford University (1993-1998)

• Foreign Studies Scholarship, Korea Foundation for Advanced Studies Fellowship (1991-1997) 

Journal Referee

• American Economic Review, International Economic Review, Journal of Money, Credit, and Banking, Journal of Development Economics, Information Systems Research, European Financial Management, Research Policy, Journal of Productivity Analysis, Review of International Organization, Journal of Macroeconomics, Papers in Regional Science, International Economic Journal, Journal of Money and Finance, Economic Analysis, Seoul Journal of Economics, Journal of Market Economy and more.

Courses Taught

• Graduate level: Seminar in Banking and Finance, International Finance, Applied Monetary Economics, Monetary Economics

• Undergraduate level: International Financial Markets, International Finance, Macroeconomics, Microeconomics, Mathematics for Economists, Development Economics, Economics of East Asia