• Choi Gong Pil
• Phone : +82-2-3705-6340
• Email : gpchoi@kif.re.kr

Field of Specialization

• International Banking and Finance
• Risk Management
• Development of early warning system for banking and currency crises
• IMacro and Micro Policy Analysis
• Analysis of capital markets
• Open-macro and monetary policy studies
• Business cycle analysis
• Interest rate forecasting and various policy simulations (Banking and Finance, Open Macroeconomics, Monetary Economics)

Education

• Ph.D. in Economics, University of Virginia (Advisor: James D. Hamilton)
• Ph.D. in Economics, University of Virginia (Advisor: James D. Hamilton)
• B.A. in English, Hankuk University of Foreign Studies

Experience

• 1999-present (Leave of Absence, 2005.9~2006.12) Chief Economist, Director of Research, Korea Institute of Finance, Macro-Finance and Capital Market Division
• 2002~present Director, The East-Asian Monetary and Financial Cooperation
• 2000~present Special Assistant to Duck-Koo Chung, Han-Koo Lee, and Chong-Koo Lee (Members of the Parliament)
• Oct. 2005~Oct. 2006 Senior Advisor, International Supervision and Analysis Group, Banking Supervision and Regulation, Federal Reserve Bank of San Francisco
• 2005~2006 Member, Financial Globalization and the Korean Economy (Financial Sub-Committee), National Assembly
• 2004~2005 Member, Advisory Group for the National Auditing Board
• 2004~2005 Member of the Macro-Finance Forum of the Financial Supervisory Commission
• 2003~2005 Senior Economic Advisor to the National Security Council, The Blue House
• 1988~2005 Advisor to the Ministry of Finance and Economy, the Blue House, the Financial Supervisory Commission, the Bank of Korea
• 2003~2004 Editor, Journal of the Korea Money and Finance Association
• 2002 Member (Macro Policy) of the National Competitiveness Sub-committee, The Presidential Commission on Policy Planning
• 2002 Local Consultant, ADB, Developed the Early Warning System for Indonesia
• 2001 Research Associate, Institute of Business and Economic Research, University of California, Berkeley
• 2001 Member of the Special Committee for Chaebol Reform, The Blue House
• 1999~2000 Local Consultant, World Bank, Developed the Early Warning System for Korea
• 2000.8-2001.12 Visiting Scholar, Federal Reserve Bank of San Francisco, UC Berkeley.
• 2001.1 - 3 Visiting Scholar, University of California, San Diego
• 2000.11 Researcher in Residence, Santa Fe Institute
• 1994.8-2000.8 - Head of the Macro Finance Team, Chief Economist, Korea Institute of Finance.
• - Advisor to the Ministry of Finance, the Financial Supervisory Commission, and the Blue House,
• - Advisor to the Ministry of Finance and the Economy on IMF and OECD related matters.
• 1998.11-1999.8 Local Consultant to World Bank on developing Early Warning System for currency crisis in Korea. Developer of a Comprehensive Early Warning System for Economic and Social Instability for KCIA.
• 1988-1994.7 Head, Division of Special Studies, Daewoo Research Institute. Advisor to the National Statistical Office.
• 1994.8-2000.8 - Instructor of Intermediate Macroeconomics, Univ. of Virginia.
• - Research Assistant, Statistical Consulting and Programming, McIntire School of Commerce, University of Virginia.
• 1980-1982 Research Assistant, Analysis of Financial Statements, Research Department, Korea Chamber of Commerce.

Publication

• “Toward an Exchange Rate Mechanism for Emerging Asia,” Brookings Institution 2006.
• “Reserve Management of the Asian Central Banks,” Mimeo, Banking Supervision and Regulation, Federal Reserve Bank of San Francisco, December 2005.
• "Economic Impact of Korea's Aging Population", Korea Focus, Sept-Oct 2005, Vol.13, No.5, pp.127~135
• "Social Governance, Growth Paradigm, and Mismatch Problems," Financial Economics Series no.2005-05, Korea Institute of Finance, February 2005.
• “The Korean Economy Beyond the Crisis,” D.K.Chung and Barry Eichengreen(eds) Edward Elgar, 2004
• "Debt-driven Recession and Systemic Risks in the Korean Banking Sector", Financial Economics Series no.2004-06, Korea Institute of Finance, July 2004.
• "Severity of Personal Delinquency Problem in Korea and Its Implications", Financial Economics Series no.2004-03,” Korea Institute of Finance, June 2004.
• "Economic Impact of the Recent Surge in Household Credit (in Korean)", Reports on Policy Issues no.2004-03, Korea Institute of Finance, June 2004.
• "Solutions to the Personal Delinquency Problem (in Korean)", Reports on Policy Issues no.2004-01, Korea Institute of Finance, April 2004.
• "Financial Stability of a Small Open Economy under Credit Constraints", Financial Economics Series no.2004-01, Korea Institute of Finance, January 2004.
• "The Implications of Globalized Finance for Growth and Stability in Emerging Economies", Financial Economics Series no.2003-05, Korea Institute of Finance, November 2003.
• "Structural Change and the Scope of Inflation Targeting in Korea," International Economic Journal, vol.17, no.3, Autumn 2003.
• "Implications of the Estimating Potential Output and Growth Potential (in Korean)", Reports on Policy Issues no.2003-09, Korea Institute of Finance, December 2003.
• "The Choice of Monetary Regime for Post-Crisis Asia: The Case of South Korea", Revue Economique, vol.54, no.5, Septembre 2003.
• "Post-Crisis Financial Developments in Korea: Implications for Monetary Policy" The Journal of the Korean Economy, vol.4, no.1, The Association of Korean Economic Studies, Spring 2003.
• "CMI Conditionality and Post-CMI Architecture", Financial Economics Series no.2002-03, Korea Institute of Finance, September 2002.
• "Forecasting Industrial Activities Using Various Sets of Leading Indicators (in Korean)", Research Reports no.2002-01, Korea Institute of Finance, August 2002.
• "The Current Household Debt Situation and Its Policy Implications (in Korean)", Reports on Policy Issues no.2002-03, Korea Institute of Finance, June 2002.
• "The Early Warning System for Currency Crises in Korea, Financial Research Paper 2001-06", Korea Institute of Finance.
• "The Macroeconomic Implications of Regulatory Capital Adequacy Requirements for Korean Banks, Economic Notes," vol.29, no.1 (Blackwell, 2000).
• "Economic Consequences of Political Instability: Evidence from Panel Data and Korean Time Series Data (in Korean), " Korean Panel Studies 1999.
• "The Macroeconomic Implications of Regulatory Capital Adequacy Requirements for Korean Banks, Economic Notes," vol.28, no.3 (Blackwell,1999).
• "The Asian Financial Crises: The Case of Korea, Economie Internationale," CEPII, 1999.
• The Korean Experience with Financial Crisis: A Chronology," Financial Research Paper 99-05, Korea Institute of Finance, 1999.
• "Cross-Border Capital Flows and Asset Price Volatility: The Case of Korea, " KIF working paper 98-03, 1998.
• "STBLNET: Neural Net for Forecasting Interest Rate," 1998, Korea Institute of Finance, in collaboration with Prof. White at UCSD.
• "Inflation Targeting under Various Expectations Formation(in Korean), " 1997, Policy Research Paper, Korea Institute of Finance.
• "Long-term Strategy for Developing Finance Industry in Korea, " 1996, Special Committee on Long-term Development, Ministry of Finance.
• "Korea Economic and Financial Outlook," English Periodical, Korea Institute of Finance 1995-present.
• "Interest Rate Forecasting Using Information on Regime Change," Asia-Pacific Economic Review vol. 1. no.2 (Cambridge, 1995)
• "Daewoo Economic Indicators," Periodical on Technical Analysis of Macro and Financial Trends, Daewoo Research Institute 1992-present.
• "The Composite Financial Indicator: Diagnosis and Prediction," the Monograph Series on Rising Asian Capital Markets (Greenwich, Connecticut: JAI Press, 1993).
• "Extracting Market Participants' Expected Inflation Using Kalman Filter," Korea Economic Review vol.4 no.1 (Korea Economic Association, 1992).

- Reference

• Kiwoong Om (Director, Korea Chamber of Commerce)
• Namdaemoon-ro 4-ga, Korea Chamber of Commerce, Seoul 100-743
• +82-2-316-3522☎, +82-2-771-3267(fax), kwom@kcci.or.kr
• Hahnkoo Lee (Senior Advisor, Democratic Party for the New Millennium)
• 34-3 Yoido, Daewoo Research Institute, Seoul 150-716
• +82-2-784-7898☎, +82-2-768-4102(fax), hklee@www.dweri.re.kr
• Yungchul Park(Chairman of the outside director committee, Korea Exchange Bank)
• Korea Exchange Bank, Eulgiro 2-ga, Chung-gu, Seoul 100-192
• +82-2-729-8733☎, +82-2-729-8699(fax) , ycpark@soback.kornet21.net
• Haewang Chung(President, Korea Institute of Finance)
• -1 Myung-dong, 1-ga, Korea Institute of Finance, Seoul 100-021
• ++82-2-3705-6251☎, +82-2-3705-6309(fax), kwom@kcci.or.kr

- Affiliation

• Columnist, The Korea Herald, Chosun-Ilbo, Dong-A Ilbo, Maekyung Business News, Financial News, Naeway Economic Daily, Money Today, Kookmin-Ilbo, Economist.
• Editor, "Korea Economic and Financial Outlook," Quarterly English Economic Bulletin by the Korea Institute of Finance 1994 ~ 2000.
• Executive Director, "The Korean Panel Studies"
• Member of "the Korean Econometric Society"
• Member of "the Korean Money and Finance Association"

- Honors

• The 30th Maekyung Economist Award, 2000.
• Economist of the year, The Sisa-Journal, 1998.
• Special Award by the Ministry of Finance and the Economy, 1997.
• Best Dissertation Award, Daewoo Research Institute, 1990.
• Dupont Graduate Fellow, University of Virginia, 1984-1986.