28 June 2009
In Monrovia, Liberia
African dancing party under a tree
When Mr. xxx, a consultant, dropped me at the swimming pool near the Mamba Point hotel, I was worried about returning. It was because I had to walk a road back through local people. They might accost to me with some intentions, e.g., to beg or to steal. No wonder, given that these people had just finished an internal war in 2003.
But it turned out to be a stupid guess. Nobody did such a mean thing to me. On the contrary, I could hear African rhythm nearby. Alas! A group of ladies were dancing surrounded by spectators, mostly females and children. Young girls were emulating the dances to be part of the party. The drum music was played by an elderly man. His grim face well contrasted with the brisk music with strong beat that he played. I could see people smiling. Some suggested me to go and dance. I could not but I felt that if I do I would be welcomed by them.
It seems that, it is we, the donors, not them, the have-not, who draw line between the two groups. Happiness is not so difficult to catch. The western civilization conquered the nature to obtain happiness even though there are non-western culture that leads to happiness subcumbing mankind to the nature.
29 June 2009
Deborah, a cleaner in the hotel, whose monthly wage is 150 USD, can afford sending one of her two daughters to college. It is because college fees are cheap especially Women’s college. Women’s college charges 10 USD per credit. However, a 1.5 liter bottle of water imported from Lebanon costs 4 USD in the Mamba Point Hotel. I know one year in Ivy League university costs more than 50,000 USD a year.
Deborah told me yesterday’s party under the tree was to congratulate high school graduation and provided by the parents of graduates. Deborah herself once provided such a party.
Driver Zala
At 13:00, I went to welcome another member of the mission team in the airport with the driver Zala who is 23 years-old. He was grim but smart-looking young man. I told Zala I would like to come back here with my family and asked about less expensive hotel than the Mamba Point Hotel which charges 150 USD per night. He recommended Royal hotel in the city area which would charge less.
I told him I felt good about Liberia after I saw the dancing party. “There is peace in Liberia, now right?” I asked. With grim face, he answered “Still different group of people have different ideas.”
When I talked about the cheap education, he said “I am a sophomore in the University of Liberia. There, one credit costs two dollar.”
He asked me whether this is first time in Liberia. I replied “Yes” and told him that Liberia was the second country in Sub-Saharan Africa that I visited after Ghana. When I said that I liked Ghana and its people, he commented with short words, “Ghana people are good.”
Arriving at the airport, I bought two cans of Coca Cola and gave him one and asked him
“Are you married?”
“No.”
“Why?”
“Marriage comes with large responsibilities.”
“How old are you?”
“Twenty five,” and he added, "Average age for marriage is now 30 and they get one or two children."
I was a little surprised, remembering the statistics showing very high fertility rate as well as mortality rate for Liberia. The discrepancy between the statistics and Monrovia's reality might be due to urbanization which resulted from displacement of people during the war period.
He was not talkative but on my question about his personal life, he said “My father passed away just in front of me when I was eleven years old. The soldiers shot six people in front of me and put them in one hole. Six persons in one hole!”
A silence between us has passed.
Then I told him “I lost my father when I was 15 years old. I am not a saint. But I would like to suggest you to forgive those soldiers. It is not for them but for you. It is to set yourself free from bad memory and to move one.” I saw his eye becoming red.
I switched the topic “When does the airplane arrive?”
30 June
I took a walk to the beach near the hotel. It was cloudy with strong wind at the beach. There were some young men in the beach. One middle-aged person approached me and asked "Where are you from?" "Tunisia," He tried to speak French. I said I do not speak French. He said "I welcome you. Enjoy the beach."
He may be one of the unemployed who could not find job during the day. Like me he must have come to the beach to heal the mind and body.
The country Liberia and its people is in the process of healing.
1st July 2009
Zala again
On my way to airport, I belatedly realized that I did not get my change of 15 USD from the reception desk of the Mamba Point Hotel. I used handphone to call the hotel reception and asked the person to give the money to Zala.
Listening my conversation over the phone, Zala told me “thank you” without much emotion.
He wants to establish a construction company of his own as his late farther did. For this he would get a job in a construction company on graduating the university to obtain necessary experience.
I come to believe that he will make it when he said “Honesty is a precious quality for a businessman.”
We departed with a hug. He said thank you and I wished him the best.
Sunday, July 5, 2009
Curriculum Vitae
Name : Hee-Sik Kim
Education:
Ph. D. in Economics, University of Hawaii at Manoa, Hawaii, U.S.A. December 1995
B. A. in Economics, Yeungnam University, Korea, February 1986.
Scholarship:
East-West Center Grants for degree participants, sponsored by U.S.A Senate. August 1990-September 1994.
Chunma Fellowship, a four-year full scholarship provided to the highest score on the entrance exam to Yeungnam University, Korea, March 1979 - February 1981, September 1983-February 1986
Full scholarships for three years on the ground of excellent academic performances, Muhag High School, March 1976-February 1979.
Fields
Economic development, International Finance
Career:
Principal Research Economist/Technical Assistant, Development Research Department, The African Development Bank, Since May 2008.
Senior Economist, International Economics Studies Team, Institute of Monetary and Economic Research, the Bank of Korea, March 2007-April 2008.
Senior Economist, Socioeconomics Studies Team, Institute of Monetary and Economic Research, the Bank of Korea, since March 2005.
Senior Economist, International Finance Research Team, International Department, The Bank of Korea, April 2003-March 2005
Senior Economist, International Economics Team, Institute of Monetary and Economic Research, the Bank of Korea, June 2001-April 2003
Senior Economist, Structural Studies Team, Special Studies Office, the Bank of Korea, June 1999-May 2001
Economist, Planning and Research Division, Kwangju Branch, the Bank of Korea, May 1998-May 1999
Economist, Institute for Monetary and Economic Research, the Bank of Korea, January 1996 1996-May 1998.
Junior Economist, Input-Output Division, the Bank of Korea, March 1986-March 1989.
Area of Expertise and Experience:
Finance and Development
- The role of domestic debts in economic development
- The impact of global financial crisis on African countries and policy implications
- Preconditions for financial development and globalization
- Spillover Effects of pension funds on financial development
- Bank entry regulation
- Inter-industrial productivity spillovers
- The role of selective credit allocation in industrial development
International Money and Finance
- FX market liquidity and stability
- Exchange rate pass-through to real activities
- Effects of monetary policy on exchange rate
Publications: Refer to the Korean site http://blog.naver.com/hkims
Dissertation:
Selective Credit Allocation and Industrial Development in South Korea, Ph. D. Dissertation submitted to the University of Hawaii at Manoa, 1995.
Articles
(in English)
“The Role of Domestic Debts in Economic Development for Africa: A Focus on Preconditions and Transmission Channels,” a mimeo, June 2009.
“Spillover Effects of Pension Funds on Capital Markets : the Mechanism and Preconditions,” A paper presented at the Conference on Institutional and Social Dynamics on Growth and Distribution, Lucca, Italy, December 10-12, 2007. The Bank of Korea Economic Papers, September 2007.
“Structural Change in the Effects of the Exchange Rate on Output in Korea, “The Bank of Korea Economic Papers, vol.7 no.2, 2004. http://blog.naver.com/hkims/150045810306
“Characteristics of North-East Asian Currencies and Policy Implications,” A paper presented at the China-Korea Economic Executives Meeting, December 2003.
“Five Years of Free-Floating the Won Currency," Korea Times (a daily news paper), November 23, 2002.
“Changes in Structural Features of Won-Dollar Rate Determination and the Effects of Monetary Policy on the Exchange Rate in Korea,” The Bank of Korea Economic Papers, Vol.6. No. 1., 2003, (with Dong Koo Chang).
"Inter-industrial Productivity Spillovers in Korean Manufacturing," the Bank of Korea, Economic Papers. 3(2) (November 2000): 164-197.
"A Financial Model for Korean Economy," the Bank of Korea Economic Papers 2(1), March 1999 (with Chiho Kim).
"The Effectiveness of Selective Credit Allocation in Korea: An Empirical Test," a paper presented at the eighth International Academic Meetings on Financial Industry Crisis and Information-communication Industry, Korean Economic Association, August 19, 1998.
"Inter-industrial Linkages and Employment in Korean Industry, 1975-85." The Developing Economies, 31(3) June 1993 (with W. E. James and N. Fujita).
( in Korean)
“Stabilizing Effects of FX Market Liquidity,” Institute of Monetary and Economic Research, Working Paper, no. 335, 2008.
“The Preconditions for Realizing Benefits from Financial Globalization,” Institute of Monetary and Economic Research, Working Paper no. 316, January 2008.
“Asymmetry in Financial Globalization,” a column for the Hankook Kyungje Sinmun,(Korean Economic Daily News), November 26, 2007.
“Pension Privatization and Financial Development: Lessons from the Case of Chile,” Institute of Monetary and Economic Research, Working Paper no. 294, January 2007.
“External Effects of Pension Funds on Stock Markets,” The Bank of Korea Economic Analysis, vol. 13 no. 2, June 2007.
“The Impact of Interest Rate Policy on Exchange Rate in Korea,” The Bank of Korea, International Department, Review of Foreign Exchange and International Finance, vol 6, 2005.
“A Test of Information Content of the KRW/USD risk reversal premium,” The Bank of Korea, International Department, Review of Foreign Exchange and International Finance, 4, December 2004.
“The Effect of Exchange Rate Shock on Economic Growth: A Comparison of the Experiences in Korea and Japan,” The Bank of Korea, International Department, Review of Foreign Exchange and International Finance, 3, June 2004.
“Macroeconomic Policies under Strong Won,” The Bank of Korea, Institute of Monetary and Economic Research, Working Paper no. 157, June 2003.
“Effects of Exchange Rate Realignments on Investments, Economic Growth and Structural Change in Korea,” The Bank of Korea, Institute of Monetary and Economic Research, Research on Finance and Economy, no. 144, 2003.1.
“Determinants of Currency Receipt-Issue Ratio,” The Bank of Korea Kwangju Branch Monthly Economic Review of Kwangju-Chonnam, 1998.11(with Myung-Chul Kim).
“On Bank Entry Regulations in Korea,” The Bank of Korea Economic Analysis, vol. 3. no. 4, 1997.11. pp.151-201.
(Unpublished Drafts in Korean)
“Suggestions for Solving the Problems of the National Pension Program in Korea," November 2007.
“Assessment of Potential Impacts of Chinese Yuan Appreciation on Korean Trade,” March 2005.
“Adequacy of Foreign Reserves in Korea,” BOK internal report, December 2004.
“Macroeconomic Effects of Foreign Reserve Accumulation (or importing risk capital while exporting safe capital) in Korea,” BOK internal report, December 2004.
“Assessment of Market Liquidity in the Seoul FX Market,” March 2004.
“Effects of Capital Flows on Exchange Rate in Korea,” July 2003.
(Research Works at the AfDB on the Financial Crisis)
“Financial Crisis – Weekly Report” Week ending 5th December 2008
Revision of Section 5 of the draft concept note for African Development Bank Annual Meetings 2009, “Enhancing the Integration of Africa into the Global Financial System”
Drafting a paper to be presented at the International Conference on Financing For development “The Current Financial Crisis: Implications on Domestic Resource Mobilization in Africa,” DOHA, QATAR, 29th November – 2nd December 2008(28 November 2008)
Co-drafting the Briefing Note for the High Level Conference on Financial Crisis in Ramada Plaza Hotel in Tunis on 12 November 2008, “The Current Financial Crisis: Impact on Africa” (With Rebei and Mafusire)
Presentation at OECD Development Center
"Remarks on the Computation Methodology of AEO-Political Risk Indicators," an Experts Meeting for AEO in OECD Development Center, Paris on 16 December
Opening Remarks at CAFRAD Conference
"Opening Remarks," the CAFRAD Conference on Financial Crisis, 1 December 2008
Presentation at AfDB-OECD Development Center-ECA Meeting
"A Review of AEO Political Troubles Indicator," the 2009 African Economic Outlook Kick-Off Meeting, a joint project of OECD, UN ECA, and AfDB, in which the AfDB will play a leading role from the 2009 edition, on 9 September 2008
"Comments on 'Innovations in Telecommunication in Africa-Framework for Country Notes: African Economic Outlook 2008/2009'"at the the 2009 African Economic Outlook Kick-Off Meeting on 9 September 2008
Presentation at an Academic Conference, “Spillover Effects of Pension Funds on Capital Markets : The Mechanism and Preconditions,” Conference on Institutional and Social Dynamics of Growth and Distribution, Lucca December 10-12, 2008.
Service as a Session Chair
Session B2-Health and Child Care- of the Conference on Institutional and Social Dynamics of Growth and Distribution, Lucca December 10-12, 2008.
Service as a discussant in the OECD/IOPS conference on Private Pensions in Latin America, 29-30 March 2006
Presenting, “Pension Coverage: the Korean Case,” http://www.oecd.org/document/7/0,2340,en_2649_34853_36017607_1_1_1_1,00.html
Service as the Korean delegate in the August 2005 G-20 Workshop on Demographic Challenges and Migration at Sydney, Australia
Provided some Korean viewpoints into the discussions about the effect of unskilled labor immigration on the domestic labor markets, which have been reflected in the final report of the Workshop
Presentation at the BIS Autumn 2004 Economists Meeting
Titled “Structural Change in the Effects of the Exchange Rate on Output in Korea,” which has been cited in the BIS Working Paper no. 178, “Research on Exchange Rates and Monetary Policy: an Overview, June 2005.
Provided lectures to the official visitors from Developing Countries to the Bank of Korea
“The Path from Selective Credit Allocation to Capital Market Opening: Lessons from Korean Experience,” to Official Visitors from Uzbekistan, Kyrgyzstan, Turkmenistan, and Vietnam. 2002, etc
Served as a moderator for the Central Banking Seminars by the Bank of Korea:
The 12th Central Banking Seminar on "Current Global Imbalances and Challenges for Central Banks” held in the Bank of Korea with participants from central banks of 15 countries from October 13 to 14, 2004
The 10th Central Banking Seminar on "Recent cross-border capital flows: the characteristics and policy response" held in the Bank of Korea with participants from central banks of 12 countries from October 14 to 18, 2002.
Training
A course on “Exchange Rate and Capital Flows,” by the CCBS of the Bank of England, U.K., in September 2003
A course on “Advanced Studies on International Economic Policy” by the Kiel Institute, Germany, in August 2002
(E-mail) h.kim@afdb.org
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