The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform write by Mr.Angel J. Ubide. This book was released on 1999-03-01. The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform available in PDF, EPUB and Kindle. After years of strong performance, Korea’s economy entered a crisis in 1997, owing largely to structural problems in its financial and corporate sectors. These problems emerged in the second half of that year, when the capital inflows that had helped finance Korea’s growth were reversed, as foreign investors—reeling from losses in other Southeast Asian economies—decided to reduce their exposure to Korea. This paper focuses on the sources of the crisis that originated in the financial sector, the measures taken to deal with it, and the evolution of key banking and financial variables in its aftermath.
The Korean Financial Crisis of 1997
The Korean Financial Crisis of 1997 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Korean Financial Crisis of 1997 write by Kyu-sŏng Yi. This book was released on 2011. The Korean Financial Crisis of 1997 available in PDF, EPUB and Kindle. This book chronicles how Korea dealt with and overcame the crisis over time. The book is organized into eleven chapters. Chapter one outlines the troubling financial market conditions at home and abroad before the crisis. Chapter two then delves into the origin of the crisis and offers analyses on the shortcomings of the Korean economy and the instability of the international financial system. In chapter three, policy measures the government executed in the wake of the onset of the crisis are described and analyzed. Chapter four probes the steps taken to reduce the risk of sovereign insolvency in the face of the cool market reaction to the initial package of crisis response measures announced by the International Monetary Fund in December 1997. Chapter five describes the background within which the government established the institutional framework necessary for corporate, financial, and labor market restructuring between December 1997 and April 1998. The government efforts to secure additional foreign currency liquidity through the markets and to devise initiatives to counter the massive unemployment are discussed in detail. In chapter six, the situation during May and June 1998 is explored with a focus on the closure of nonviable corporate and financial companies and the efforts to drive down interest rates and revive credit flows. This is followed, in chapter seven, by an analysis of the first phase of financial sector restructuring, which started in the third quarter of 1998, and the measures adopted to shore up potential growth and cope with the pressing problem of unemployment. Chapters eight and nine deal separately with the restructuring of the top five chaebols (the large family-controlled and family-run groups that dominate business in Korea), the economic stimulus packages applied during the fourth quarter of 1998, the efforts to restore financial market stability and economic growth, and the initial phase of foreign exchange liberalization measures, which were implemented during the first half of 1999. Chapter ten then discusses the situation during the second half of 1999, with a particular focus on the collapse of the Daewoo business group, including the steps taken to contain the resulting fallout, as well as measures aimed at expanding the economic recovery. Chapter eleven, the final chapter, offers a diagnosis of the Korean economy, along with an analysis of the policy implications and the responses for the future.
The Korean Financial Crisis of 1997
The Korean Financial Crisis of 1997 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Korean Financial Crisis of 1997 write by Kyu-s?ng Yi. This book was released on 2011-01-01. The Korean Financial Crisis of 1997 available in PDF, EPUB and Kindle. This book provides an unparalleled insider's look at the factors leading up to the 1997-98 crisis in South Korea and how the crisis unfolded over the next two years. Written by former finance minister Kyu-Sung Lee, this book traces the evolving situation across the key sectors and the series of policy and institutional measures the government deployed throughout the crisis. This book is a must-read for policymakers, scholars, students, and any reader interested in understanding the facts and circumstances surrounding the 1997-98 crisis, the policies undertaken at the time, and what the experience implies for preventing future crises.
Financial Crisis and Transformation of Korean Business Groups
Financial Crisis and Transformation of Korean Business Groups - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Crisis and Transformation of Korean Business Groups write by Sea-Jin Chang. This book was released on 2003-04-28. Financial Crisis and Transformation of Korean Business Groups available in PDF, EPUB and Kindle. Sea-Jin Chang argues that the Korean financial crisis of 1997 was due to the inertia of both the business groups known as chaebols and the Korean government which prevented adaptation to changing external environments. Once the Korean government stopped central economic planning and pursued economic liberalization in the 1980s, the transition created a void under which neither the government nor markets could monitor chaebols' investment activities. The intricate web of cross-shareholding, debt guarantees, and vertical integration resulted in extensive cross-subsidization and kept chaebols from shedding unprofitable businesses. The government's continued interventions in banks' lending practices created 'moral hazards' for both chaebols and banks. This treatment demonstrates how the structure of chaebols later inhibited other adaptations and for all practical purposes became nearly dysfunctional. The book argues that restructuring of chaebols should focus on improving corporate governance systems. After such restructuring, the author predicts, chaebols will re-emerge as stronger, more focused global players.
The Korean Financial Crisis of 1997
The Korean Financial Crisis of 1997 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Korean Financial Crisis of 1997 write by Tomás Baliño. This book was released on 2006. The Korean Financial Crisis of 1997 available in PDF, EPUB and Kindle. After years of strong performance, Korea`s economy entered a crisis in 1997, owing largely to structural problems in its financial and corporate sectors. These problems emerged in the second half of that year, when the capital inflows that had helped finance Korea`s growth were reversed, as foreign investors - reeling from losses in other Southeast Asian economies - decided to reduce their exposure to Korea. This paper focuses on the sources of the crisis that originated in the financial sector, the measures taken to deal with it, and the evolution of key banking and financial variables in its aftermath.
