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Argentina assets Bank of Korea bilateral billion dollars capital controls capital inflows capital market Chile credibility current account surplus decline demand deposit depreciation deregulation Developing Countries domestic financial market domestic savings economic growth effective exchange rate policy expenditure external adjustment external competitiveness external conditions external surplus financial intermediaries financial liberalization financial market financial policies financial sector firms floating floating exchange rate foreign banks foreign exchange foreign exchange market GNP growth income industries inflation Institute for International International Economics investment Japan KDI Working Paper Korea Development Institute Korea's current account Korea's Exchange Rate Korea's exports Korea's external Korea's macroeconomic Korean economy Korean financial Korean won negotiations oil prices percent productivity promote rapid real appreciation real exchange rate real interest rates reduced REER regime restrictions result sequencing structural adjustment Table Taiwan tradable trade balance trade imbalance U.S. dollar U.S. Treasury wage increases Washington D.C. won/dollar rate Yen/Dollar Agreement