Wook Sohn
Wook Sohn is a professor at the KDI School of Public Policy and Management. He specializes in monetary policy and financial intermediaries and regulation. He published more than 20 articles and participated in the collaborative research for the Korean, Hungarian and Cambodian governments. He worked for the Office of Bank Supervision and the Bank of Korea, the nation’s central bank, before joining KDI School, and for the Board of Governors of the Federal Reserve System while a graduate student. Sohn earned a BA from Seoul National University, and an MA and a PhD from Columbia University.
Papers Published in World Economics:
Inflation Targeting in Developing Countries
This paper analyzes economic and institutional factors that affect the likelihood of adopting an inflation-targeting monetary policy regime in emerging markets and developing countries. We use a logit model for a sample that comprises both inflation-targeting and non-targeting countries for the period of 1990–2009. The results show that countries experiencing improved macroeconomic performance and stronger institutional stability have a high chance of switching to the inflation-targeting framework. In particular, central bank independence, as measured by governor turnover rate and legal independence, positively affects the decision to change regimes.
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