Roubini : QE tapering to have positive impact on S. Korea | NOURIEL ROUBINI BLOG

Monday, November 25, 2013

Roubini : QE tapering to have positive impact on S. Korea

SEOUL, Nov. 4 (Xinhua) -- Future tapering of the U.S. quantitative easing (QE) would influence the South Korean economy positively, a New York University economics professor said Monday.
"QE tapering will be positive to Korea," Nouriel Roubini said in Seoul at a meeting with South Korean Finance Minister Hyun Oh- seok, noting that the QE tapering would mean a recovery of the U.S. economy, on which South Korea heavily depends for trade, according to the Finance Ministry.
Interest rate hikes in the U.S. would lead to strong U.S. dollar, having a positive impact on exports, which account for around half of the South Korean economy, said Roubini who served as a senior economist in the White House Council of Economic Advisers during the Clinton administration. He earned a nickname of "Dr. Doom" due to his consistently bearish economic views.
Roubini said that South Korea held positive position in terms of fiscal balance and sovereign debts, assessing that the April supplementary budget was appropriate and contributed to the country's recovery.
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Nouriel Roubini

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

Nouriel Roubini, (born March 29, 1958, Istanbul, Turkey), Turkish-born American economist and educator who was best known for predicting the 2007–08 subprime mortgage crisis in the United States and the subsequent global financial crisis.

Born to Iranian Jewish parents, Roubini moved with his family to Iran and Israel before they settled in Italy in 1962. After a year at Hebrew University of Jerusalem, he studied economics at Bocconi University in Milan (B.A., 1982) and Harvard University (Ph.D., 1988), where he specialized in macroeconomics and international economics. He joined the economics faculty at Yale University in 1988 and taught there until 1995, when he moved to New York University. He also served as a visiting scholar to the International Monetary Fund (IMF), was a research associate with the National Bureau of Economic Research (NBER), held single-year terms on the White House Council of Economic Advisers (1998–99) and at the U.S. Department of the Treasury (1999–2000), and cofounded (2004) the consulting firm Roubini Global Economics. Roubini spent much of his early career studying countries that experienced extreme economic failures, such as Mexico (in 1994), Thailand and other countries associated with the 1997 Asian financial crisis, Russia (1998), and Argentina (2000). He determined that each shared one common element: a massive current account deficit.(www.britannica.com)

Nouriel Roubini is the Chairman and CEO of Roubini Macro Associates, LLC, his own global macroeconomic consultancy firm. He is also a professor of economics at New York University’s Stern School of Business. Dr. Roubini has extensive policy experience as well as broad academic credentials. From 1998 to 2000, he served as the senior economist for international affairs on the White House Council of Economic Advisors and then the senior advisor to the undersecretary for international affairs at the U.S. Treasury Department, helping to resolve the Asian and global financial crises, among other issues. The International Monetary Fund, the World Bank and numerous other prominent public and private institutions have drawn upon his consulting expertise.