Yoon Shik Park


Title: Professor of International Business
Department: International Business
Address: Funger Hall 401U
Phone: (202) 994-8215
Email: yspark@gwu.edu
Homepage: http://home.gwu.edu/~yspark/
Office Hours: Spring 2014: M 6-7pm, W 2-3pm, and by appointment

Profile


Education:

The George Washington University, Ph.D. (International Economics), M.A. (Economics).

Harvard Business School, D.B.A. (International Finance).

Fairleigh Dickinson University, M.B.A. (Finance).

Kyung Hee University, Seoul, Korea, B.A. (Law).

Current Research:

Reform of multinational financial institutions such as the World Bank and IMF in light of recent changes in the international financial environment. Enhancing the access to global financial markets by less developed countries. Menu of options among various recent financial innovations applicable to developing countries.

Biography:

Dr. Y. S. Park is currently Professor of International Finance at George Washington University School of Business in Washington, D.C. In addition to George Washington University, he also taught at Georgetown University and Columbia University. Before joining academia, he had worked for the World Bank in Washington as a Senior Economist and then as Financial Advisor at Samsung Group in Korea. He also served as a member of the board of directors of Samsung Corporation in Korea from 1998 until 2009, and during the past two decades he has been a member of the board of directors of the Korea Economic Institute of America, Inc.(KEI) in Washington.

 Prof. Park received two doctorate degrees: DBA(Doctor of Business Administration) in international finance from Harvard University Graduate School of Business Administration and PhD in economics from George Washington University. Among his many publications are such books as Project Financing and International Financial Markets, International Banking and Financial Centers, International Banking in Theory and Practice, Oil Money and the World Economy, and The Eurobond Market: Function and Structure, in addition to various articles and papers in the fields of international banking and finance.

 Dr. Park has been a consultant to the World Bank, Asian Development Bank, International Finance Corporation, Inter-American Development Bank, U.S. Agency for International Development (AID), U.S. Federal Reserve, U.S. Overseas Private Investment Corporation (OPIC), U.S. Export-Import Bank, New York State Banking Department, Kuwait Institute of Banking Studies, and other private and public institutions around the world.

Expertise:

International Finance, International Banking, Development Financing, International Financial Markets


Teaching Experience:

The George Washington University.

Columbia University Graduate School of Business.

Georgetown University.

Professional Experience:
World Bank. The Asian Development Bank. International Finance Corporation. The U.S. Agency for International Development. The Institute of Banking and Finance (Mexico). Overseas Private Investment Corporation (OPIC). U.S. Export and Import Bank. American Express International Banking Co. Royal Bank of Canada. Korean Institute for International Economics and Technology (KIET). The Kuwait Institute of Banking Studies. Central Bank of Nigeria. State Bank of Pakistan.



Research

Park, Yoon S. “Determinants of Credit Default Swap Spreads: The Case of Korean Firms,” Yoon S. Park and Hanjoon Kim, Journal of the Korea Academia-Industrial Cooperation Society, Vol. 12, No. 10, pp. 4359-4368, 2011.

Park, Yoon S. “Developing an International Financial Center to Modernize the Korean Service Sector,” Academic Paper Series, funded by Korea Economic Institute, October 2011.

Park, Yoon S. “Implications for the Future of the Korean Economy,” a chapter of a refereed book, State of the World Economy, 2011-2012: Whither or Wither? Johns Hopkins University, 2011.

"The Future of Finance and a New Role for Financial Centers," a paper delivered at the 6th Busan International Finance Conference, organized by Pusan National University, University of Hawaii, and Korea Institute of Finance, Busan, Korea, November 22, 2010

"The Role of Financial Innovations in the Current Global Financial Crisis," Seoul Journal of Economics, Summer 2009.

"The Economic Case for the Asian Monetary Fund," International Journal of Korean Studies, Spring 2009.

"The U.S.-Korea Economic Relations and Korea-U.S. FTA" a paper presented at a conference on Korea-U.S. FTA, Sigur Center for Asian Studies, George Washington University, December 3, 2007.

The Inefficiencies of Cross-border Payments: How Current Forces Are Shaping the Future, a paper publshed by Visa Commercial, August 2007.

Park, Yoon Shik. "Innovations in International Payment Systems and Their Implications for Banks." August 2007

Park, Yoon Shik. "A Nuclear North Korea and Prospects for the Korean Economy: An International Business Perspective." Paper presented at The Joint Annual Conference 2007 of the International Council on Korean Studies (ICKS) and Korean-American University

The Changes in North-East Asian Economic and POlitical ORder and Korea's Preparation for the 21st Century, Editor, Kyung Hee University Press, Seoul Korea, 2004

Korean Bond Market: Post-Asian Crisis and Beyond, Korea Stock Exchange, 2003.

FDI into Korea: Reaching the Next Plateau, a paper to appear in the new book, Korea: Reaching the Next Plateau, to be published by the Korea Economic Institute of America, Washington, 2003.

Why Is the Market Economy So Strong? A paper presented at the academic conference on Changes in North-East Asian Economic and Political Order and Korea's Preparations for the 21st Century, organized by George Washington University, Keio University (Japan)

The Outlook for Korea-U.S. Economic Relationship, a paper presented at the Conference on the Korean Economy and Korea-U.S. Economic Relations, sponsored by Center for Asia Pacific Economic Cooperation, George Mason University, November 15, 2002.

Challenges and Opportunities for Korean-American Businesses, a paper presented at The Centennial Anniversary Conference on Korean Immigration to the United States, Washington, August 16-17, 2002.

U.S.-Korea Strategic Economic Partnership, a paper presented at the International Symposium on U.S.-Korea Strategic Business Partnership in the 21st Century, organized by Gateway Institute for Regional Development, Kean University, New Jersey, March 15,

Sunshine Policy of the D J Kim Administration and its Effects on North-South Korean Economic Cooperation, a paper presented at the Conference on North-South Korea Cooperation Since the 2000 North-South Korea Summit Meeting, organized by Georgetown Unive

Potential Impact of International Capital Flows on the Korean Financial Market and Real Sector: Korea's Strategic Reponses, a chapter in Restructuring the Korean Financial Market in a Global Economy, edited by Lee-Jay Cho, Yoon Hyung Kim and Inseok Shin

Need for Development Financing and Policy Initiatives in Northeast Asia, a paper presented at the Conference on Strengthening Economic Cooperation in Northeast Asia, organized by the Northeast Asia Economic Forum of the East-West Center, Honolulu, Hawaii,

Potential International Financing Sources for North Korea, a paper presented at the Conference on Korea and the Four Major Powers in Northeast Asia, organized by the Center for Asian Studies of the Richard Walker Institute of International Studies, Univ

Moral Hazard, Financial Reforms, and the Role of the State, a paper presented at the Conference on Korea in Transition: three Years Under the Kim Dae Jung Government, organized by Georgetown University, Washington, March 26, 2001.

Corporate Governance Reform, a paper in Korea's Economy 2001, published by the Korea Economic Institute of America, Washington, 2001.

Financial and Macroeconomic Management Under a Liberalized Capital Account: Opportunities and Risks, a paper presented at The 5th Central Reserve Bank Governors Forum, organized by the Macroeconomic and Financial Management Institute of Eastern and Sout

Development of Asian Bond Markets, a paper presented at the Conference on Regional Financial Arrangements in East Asia: Issues and Prospects, organized by the Northeast Asia Economic Forum of the East-West Center, Honolulu, Hawaii, August 10-11, 2000.

Korea's Chaebols Issue Combined Financial Statements for First Time, Korea Insight, published by the Korea Economic Institute of America, August 2000.

The Asian Financial Crisis and its Effects on Korean Banks, a paper in The Korean Economy in an Era of Global Competition, Joint U.S.-Korea Academic Studies, Volume 10, 2000, published by the Korea Economic Institute of America.

Project Financing and International Financial Markets, Kluwer Publishers, 1999.

Economic Restructuring and Reform in Korea: Accomplishments and Challenges, a paper presented at the International Conference on Economic Crisis and Restructuring in Korea, organized by the Korea Development Institute, Seoul, Korea, December 3, 1999.

Financial Sector Restructuring, a paper in Korea's Economy 1999, published by the Korea Economic Institute of America, Washington, 1999.

Measurements of International Financial Integration, a paper sponsored by the World Bank, 1999.

"Expanding the Global Development Finance Coverage for New Financial Instruments, a report commissions by the World Bank, 1997.

Private Capital Flows: Implications for Capital Markets in Asia, a report prepared for the World Bank and the Asian Development Bank, 1997. (Co-author)

The Pakistan Bond market, a report prepared for the World Bank, 1996.

Application of the International Financial Innovations to Developing Countries, a study for the U.S. Agency for International Development, 1995.

The role of Guarantee Mechanism for the World Bank Operations, a report for the World Bank Co-Financing Group, 1994.

"LDC Debt Management Through International Capital Markets,"Journal of Development Finance, June 1988.

"Currency Swaps as a Long-term International Financing Technique," Journal of International Business Studies, Winter 1984.

"The Reform of the International Monetary Fund," Asian Perspective, Spring-Summer 1983.

"The Economics of Offshore Financial Centers," Columbia Journal of World Business, Winter 1982.

"Devaluation of the U.S. Prime Rate," The Banker, May 1982.

"Oil Money Recycling: A New Transfer Problem," Economia Internazionale, February 1976. (With Prof. Joseph Aschheim of George Washington University)

"A New Philosophy for Euromarket Banks," Euromoney, June 1975.

"Stucture and function of the Eurocredit Market," Euromoney April 1974.

The Link Between Special Drawing Rights and Development Finance, Princeton Essays in International Finance, Princeton University Press, Princeton, 1973.

Artificial Currency Units: The Formation of Functional Currency Area, Princeton Essays in International Finance, Princeton, 1976, (With Prof. Joseph Aschheim of George Washington University.)

Economic Costs and Benefits of Financial Integration, a study prepared for the Economic Development Institute, World Bank, 1990.

"Automated Funds Transfer Mechanism and its Implications for the International banking System,' In Phillip D. Grub et al., ed., The Multinational Enterprise in Transition, 2nd edition, the Darwin Press, 1984.

"Asian Money Markets," Abraham M. George and Ian H. Giddy ed., International Finance Handbook, John Wiley & Sons, 1983.

The Trends in International Capital Markets: Implications for Developing Countries, a study for the Economic Development Institute, World Bank, 1988.

The Emerging Role for Eurobonds in the World Financial Markets, a paper prepared for The Group or Thirty, New York 1984.

Study of the Korean Banking and Financial System, a study prepared for Mudge Rose, a Washington law firm, 1984.