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Professor's Information

Joon-Ho Hahm (함준호)

Professor of International Economics and Finance
Ph.D. Business, Graduate School of Business, Columbia University, 1993

jhahm@yonsei.ac.kr      82-2-2123-4210 · Room : 603

Profile
Professor Hahm earned his undergraduate degree from Seoul National University and his graduate and doctorate degrees from Columbia University. His extensive teaching experience includes Yonsei University, Columbia University, Korea Development Institute, and the University of Hawaii. He also sits as a board member of distinguished academic journals related to economic policy and analysis. Professor Hahm has a broad range of experience in both the public and private sectors with roles in the World Bank, Korean Ministry of Foreign Affairs and Trade, and financial institutions and corporations. His expertise lies in financial economics, international business, money and banking, and financial institutions and governance
Education
  • Ph.D. Business, Graduate School of Business, Columbia University, 1993
  • M.Phil. Business, Graduate School of Business, Columbia University, 1992
  • M.B.A. Finance, Graduate School of Business, Columbia University, 1988
  • B.A. English Literature(Minor in Business Administration), Seoul National University, 1986
Academic and Professional Services
  • [RESEARCH AND ACADEMIC POSITIONS]
  • Visiting Assistant Professor, Graduate School of Business, Columbia University, New York (1993.8-1994.5)
  • Assistant Professor, Department of Economics, University of California, Santa Barbara (1994.7-1997.6)
  • Research Fellow, Money and Finance Division, Korea Development Institute (1996.9-2000.2)
  • Assistant Professor, Graduate School of International Studies, Yonsei University (2000.3-2004.8)
  • Associate Professor, Graduate School of International Studies, Yonsei University (2004.9-2009.8)
  • Director, Center for International Studies, Yonsei University (2004.9-2006.2)
  • Visiting Associate Professor, Department of Economics, University of Hawaii at Manoa (2006.8-2006.12)
  • Associate Dean, Graduate School of International Studies, Yonsei University (2007.9-2009.2)
  • Professor, Graduate School of International Studies, Yonsei University (2009.9-present)
  • [ACADEMIC SERVICES]
  • Editorial Board Member, Journal of Korea Economic Association (2001.2-2004.1)
  • Editorial Board Member, Journal of International Economic Policy Studies, KIEP (2001.2-2009.6)
  • Editorial Board Member, Korea Development Review, KDI (2001.8-present)
  • Deputy Secretary General, Secretariat, Korea International Economic Association (2003.1-2004.1)
  • Director, Korea Money and Finance Association (2005.10-2007.6)
  • Editorial Board Member, Quarterly Economic Analysis, Bank of Korea (2006.5-present)
  • Editorial Board Member, Journal of Korean Economic Analysis, Korea Institute of Finance (2007.3-present)
  • Director, Korea Money and Finance Association (2008.9-2010.8)
  • Deputy Secretary General, Secretariat, Korea Economic Association (2009.2-2010.2)
  • Director, Association of Korea Economic Studies (2010.1-present)
  • Director, Korean Academy of Financial Consumers (2010.3-2012.2)
  • Director, Korea Association of Financial Information (2010.10-2012.1)
  • Editorial Board Member, Journal of Korea Economic Association (2011.3-present)
  • Editorial Board Member, Journal of Money and Finance (2011.7-present)
  • Vice President, Korea Association of Financial Information (2012.1-present)
  • Vice President Korean Academy of Financial Consumers (2012.2-present)
  • [PROFESSIONAL SERVICES]
  • Specialist Commission Member, The Presidential Commission for Financial Reform, Korea (1997.1-1997.12)
  • Local Consultant, World Bank (Strategic Sovereign Debt Management Team) (1998.12-2000.4)
  • Advisory Committee Member, Resolution and Finance Corporation, Korea Deposit Insurance Corporation (2000.1-2004.2)
  • Advisory Committee Member on Trade Negotiations, Ministry of Foreign Affairs and Trade, Korea (2000.8-2006.12)
  • Outside Non-executive Director, Daehan Investment Trust Management, Co., Ltd. (2000.7-2001.7)
  • Task Force Economist on Financial Supervisory System Reform, Ministry of Planning and Budget, Korea (2000.11-2001.1)
  • Outside Non-executive Director, Woori Bank (former Hanvit Bank) (2001.3-2004.3)
  • Committee Member, Listing Committee, Korea Stock Exchange (2002.2-2008.3)
  • Committee Member, Deliberation Committee on Financial Development, Ministry of Finance and Economy, Korea (2004.11-2005.11)
  • Outside Non-executive Director, Prudential Asset Management Co., Ltd. (2005.6-2008.6)
  • Outside Non-executive Director, Gmarket, Co., Ltd. (US NASDAQ listed) (2005.10-2009.4)
  • Advisory Committee Member, Committee on Macro Prudential Regulation, Financial Supervisory Service, Korea (2007.2-2008.9)
  • Committee Member, Economic Analysis Panel, National Assembly Budget Office, Korea (2008.4-2009.3)
  • Committee Member, Review Committee on Approval of Bank Basel II-IRB Methods, Financial Supervisory Service, Korea (2008.7-present)
  • Committee Member, Advisory Committee on Macroeconomic Policy, Ministry of Strategy and Finance, Korea (2008.9-present)
  • Committee Member, Deliberation Committee on Financial Development, Financial Services Commission, Korea (2008.10-present)
  • Outside Non-executive Director, Korea Deposit Insurance Corporation (2008.11-2010.11)
  • Consultant, Asian Development Bank (2009.4-2010.5)
  • Committee Member, Clearing and Settlement Committee, Korea Exchange (2010.10-present)
Courses and Current Research Area
    Academic Publications
    [Journal Articles and Book Chapters in English]
  • “Non-core Bank Liabilities and Financial Vulnerabilities,” paper prepared for the Federal Reserve Board of Governors and the Journal of Money, Credit and Banking conference on Regulation of Systemic Risk, Washington, DC. September 15-16, 2011 (joint with Hyun Song Shin and Kwanho Shin)

  • “Macroprudential Policies in Open Emerging Economies,” Chapter 2 in, Reuven Glick ed. Asia’s Role in the Post-Crisis Global Economy, Asia Economic Policy Conference Volume, Federal Reserve Bank of San Francisco, pp. 49-100, 2012 (also NBER working paper No. 17780) (joint with Frederic S. Mishkin, Hyun Song Shin and Kwanho Shin)

  • “Economic Effects of Positive Credit Information Sharing: The Case of Korea,” Applied Economics, forthcoming (joint with Sangche Lee)

  • “Complementarity among international asset holdings,” Journal of the Japanese and International Economies, Vol. 23, No. 1, pp.37-55, March 2009 (joint with Kwanho Shin)

  • “Ten Years After the Crisis: The Financial System Transition in Korea,” a chapter in Meral Karasulu and Doo Yong Yang eds, Ten Years After the Korean Crisis – Crisis, Adjustment and Long-run Economic Growth, IMF and KIEP, Seoul Korea, December 2008

  • “External Finance and Productivity Growth in Korea: Firm Level Evidence Before and After the Financial Crisis," KDI Journal of Economic Policy, Vol. 30, No. 2, pp.177-209, December 2008 (joint with Sanghoon Ahn and Joon-Kyung Kim)

  • “Determinants and Consequences of Non-Interest Income Diversification of Commercial Banks in OECD Countries,” Journal of International Economic Studies, Vol. 12, No. 1, pp. 3-32, June 2008

  • “The New BASEL Accord and Bank Capital Requirements for SMEs in Korea," Asia-Pacific Journal of Financial Studies, Vol. 36, No. 6, pp. 897-926, 2007 (joint with Dongsoo Kang)

  • “Credit Guarantee Reform under the New Basel Accord: Implications for SME Lending in Korea,” a chapter in Hyeon-Wook Kim and Hyun-Song Shin eds, Adopting the New Basel Accord: Impact and Policy Responses of Asia-Pacific Developing Countries, KDI press, December 2006 (joint with Joon-Kyung Kim and Dongsoo Kang)

  • “Risks and Supervisory Challenges of Financial Conglomerates in Korea," KDI Journal of Economic Policy, Vol. 28, No. 1, pp.145-191, 2006 (joint with Joon-Kyung Kim)

  • “Turning a Crisis into an Opportunity: The Political Economy of Korea’s Financial Sector Reform,” a chapter in Jongryn Mo and Daniel Okimoto eds, From Crisis to Opportunity: Financial Globalization and East Asian Capitalism, Shorenstein APARC distributed by Brookings Institution Press, January 2006 (joint with Wonhyuk Lim)

  • “Debt Management Analysis of Nepal’s Public Debt,” Economics and Research Department, Asia Development Bank Technical Note Series, No. 15, December 2005 (joint with Sungsup Ra and Changyong Rhee)

  • “The Resurgence of Banking Institutions in Post-crisis Korea,” Journal of Contemporary Asia, Vol. 35, No. 3. pp. 386-403, 2005

  • “Macroeconomic Implications of Financial Market Reforms in Korea,” chapter 4 in L.-J. Cho, D. C. Cho and Y. H. Kim eds, Macroeconomic Implications of Postcrisis Structural Changes, KDI Press, Seoul, 2005

  • “Interest Rate and Exchange Rate Exposures of Banking Institutions in Pre-crisis Korea,” Applied Economics, Vol. 36, pp. 1409-1419, July 2004

  • “Reforms in Credit Policy and Risk Management: The Case of Woori Bank,” Chapter 8 in Duck Hoon Lee and Gilgin Lim eds, Reforms and Innovations in Bank Management, pp. 315-349, Nanam Publishing, 2004

  • “Financial Restructuring,” Chapter 8, Barry Eichengreen and Duckoo Chung eds, The Korean Economy Beyond the Crisis, pp. 172-193, Edward Elgar, 2004

  • “Cost-at-Risk and Benchmark Government Debt Portfolio in Korea,” International Economic Journal, Vol. 17, Number 2, pp. 79-103, Summer 2003 (joint with Jinho Kim)

  • “The Government, The Chaebol and Financial Institutions before the Economics Crisis,” Chapter 4 in S. Haggard, W. Lim and E. Kim, eds. Economic Crisis and Corporate Restructuring in Korea, Cambridge University Press, January 2003

  • "Durables Consumption under Time-varying Income Uncertainty: Evidence from Korea," Economic Papers, Bank of Korea, Vol. 5, No. 1, pp. 84-109, July 2002

  • “Financial Intermediation and Economic Performance: The Korean Experience," Proceedings of the 2001 APEC Economic Outlook Symposium, APEC #202-EC-04.1, ISBN 981-04-8023-7, pp. 249-262, Asia-Pacific Economic Cooperation, June 2002

  • "The Korean Crisis: Causes and Resolution," in L. Cho, Y. H. Kim and I. Shin, eds. Restructuring the Korean Financial Market in a Global Economy, Seoul, KDI Press, distributed by University of Hawaii Press, pp. 91-141, January 2002 (joint with Inseok Shin)

  • "The Korean Financial Crisis: An Asymmetric Information Perspective," Emerging Markets Review, Vol. 1, No. 1, May 2000, pp 21-52 (joint with Frederic S. Mishkin)

  • "Causes of the Korean Financial Crisis: Lessons for Policy,"  a chapter in The Korean Crisis: Before and After, edited by Inseok Shin, KDI Press, July 2000, (also NBER Working Paper No. 7483, January 2000) (joint with Frederic S. Mishkin)

  • "Consumption Growth, Income Growth and Earnings Uncertainty: Simple Cross-Country Evidence," International Economic Journal, Vol. 13, No. 2, Summer 1999, pp. 39-58

  • "Consumption Adjustment under Time-varying Income Uncertainty," Review of Economics and Statistics, Vol. 81, No. 1, February 1999, pp. 32-40 (joint with Douglas Steigerwald)

  • "Financial System Restructuring in Korea: The Crisis and its Resolution," a chapter in East Asia’s Financial Systems – Evolution and Crisis, Masuyama, Vandenbrin, Yeu, eds, Nomura Economic Research Institute, Tokyo, 1999, pp. 109-143

  • "Consumption Adjustment to Real Interest Rates: Intertemporal Substitution Revisited," Journal of Economic Dynamics and Control, Vol. 22, January 1998, pp. 293-320

  • "Essays on Uncertainty, Consumption and Precautionary Saving," Ph.D. Thesis, Columbia University, October 1993, awarded Ph.D. Dissertation with Distinction


  • [Journal Articles and Book Chapters in Korean]
  • “Risk and Cost Efficiency of Banks in Korea,” Journal of Money and Finance, Vol. 26, No. 2, June 2012, pp. 147-184.

  • “Liquidity in China: A Macroeconomic Appraisal and Implications for Policy,” joint with Aeyoung Dong, Chapter 2, in Dongsoo Kang ed. Challenges and Development of China’s Financial System: Policy Implication on the Korean Economy, pp. 34-97, Korea Development Institute, Seoul, December 2011

  • “Soundness of Financial Institutions and the Propagation of External Shocks,” joint with Hyun-Wook Kim, Chapter 7 in, Dongchul Cho and Hyun-Wook Kim eds. Korea’s Capacity to Cope with Crises in a Globalized Environment,., pp. 273-305, Korea Development Institute, Seoul, September 2011

  • “Risk Analysis of Household Debt in Korea: Using Micro CB Data,” joint with Jung In Kim, and Young Sook Lee, KDI Journal of Economic Policy, Vol. 32, No. 4, pp., December 2010

  • “Global Financial Crisis and Business Strategies of Korean Commercial Banks: Evaluation and Implications,” joint with Jungsoo Park and Jeong Ho Suh, Journal of Korean Economic Studies, December 2010

  • “An Empirical Study on the Economic Benefit of Sharing Negative and Positive Credit Information,” joint with Jaewook Chung, Journal of Money and Finance, Vol. 24, No. 3, pp. 27-64, September 2010

  • “The Subprime Crisis and Challenges for Korea’s Financial Industries,” KLCA Research, (The Journal of the Korea Listed Companies Association), Vol. 59, pp. 79-115, Spring 2009

  • “The Post-crisis Transformation of Korea’s Financial System,” Kyong-Je-Hak-Yon-Gu (The Journal of Korean Economic Association), Vol. 55, No. 4, pp. 401-445, December 2007

  • “SME Financing and Bank Lending: A Study on the Innovative SMEs,” joint with Jong-Ku Kang, Quarterly Economic Analysis, Vol. 11, No. 3, October 2005, pp. 87-119, Bank of Korea

  • “An Empirical Investigation of the Change in Financial Stability of Financial Conglomerates in Korea,” joint with Joon-Kyung Kim, Chapter 4 in A Study on the Financial Regulation and Supervision in the Era of Financial Globalization, pp. 183-266, Korea Development Institute, December 2004

  • “Financial Consolidation and Financial Stability,” joint with Seung-Je Hong, Chapter 3 in Jungho Hahm ed, Financial System in Korea in the Era of Global Economy - Effects and Tasks of Financial Consolidation, pp. 145-200, Bank of Korea, 2003

  • “Income Uncertainty and Durables Consumption in Korea,” Quarterly Economic Analysis, Vol. 7, No. 3, 3rd Quarter 2001, pp. 104-133, Bank of Korea

  • "Sovereign Debt Risk Management using Cost-at-Risk Concept,” joint with Jinho Kim, The Korean Journal of Finance, Vol. 13, No. 2, November 2000, pp. 277-309

  • "Exchange Rate Exposure of Korean Foreign Exchange Banks in the 90s,” joint with Jaekyun Yoo, KDI Journal of Economic Policy, Vol. 21, No. 2, 1999, pp. 55-96

  • "Predictive Power of Market-micro Information in Korean Foreign Exchange Markets," joint with Young Seob Lee, Journal of Korean Economic Analysis, Vol. 4, No. 1, June 1998, pp. 1-39

  • "A Study on the Source of Interest Rate Differentials," joint with Duck Hoon Lee, KDI Journal of Economic Policy, Vol. 19, No. 1, March 1997, pp. 51-98


  • [Journal Article in Chinese]
  • “Reconstruction of the Korean Financial System: Policy Lessons,” Comparative Studies, Vol. 6, April 2003, pp. 165-184


  • [Research Monographs]
  • “Global Crisis and Reforms of Prudential Regulations,” joint with Byung Duck Kim, KIF Finance Report, July 2010 (in Korean)

  • Financial Reforms in Korea, joint with Jun, S-I, Kim, K-H and S-J Kim, June 2005 (in Korean)

  • The Objectives and Directions of Sovereign Debt Management in Korea, April 1999, Korea Development Institute (in Korean)

  • Financial Restructuring in Thailand: Evaluations and Policy Implication for Korea, joint with Inseok Shin, September 1998, Korea Development Institute (in Korean)
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