By Chung-Sok Suh, Moon Joong Tcha, Un Chan Chung
ISBN-10: 0203564782
ISBN-13: 9780203564783
ISBN-10: 0415316022
ISBN-13: 9780415316026
For a few years up till 1997, Korea used to be broadly noticeable in financial and fiscal circles as whatever of a miracle. The monetary predicament that Korea skilled then did a lot to set its economic climate again, yet by way of 2001 it was once nonetheless the thirteenth biggest economic climate by way of GDP on the earth. This engaging assortment, with contributions from specialists with a powerful wisdom of Korea and its economic system, charts not just the good documented reasons of the difficulty, yet extra importantly, its reaction and restoration from it. With an admirable scholarly rigour, the booklet covers such subject matters as: the beginning and evolution of the Korean economic climate and its unique elements together with chaebols Korean industries because the situation What occurred to the money after the capital flight of the concern and did america profit? The Korean economic climate on the Crossroads is meant and prompt not just for college kids and teachers interested in foreign finance, economics and Asian reviews, but in addition for the enterprise leaders and coverage makers who can draw classes from the books very important analyses.
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Extra resources for The Korean Economy at the Crossroads: Triumphs, Difficulties and Triumphs Again
Example text
If all these crises had occurred over a short period, or if even some had occurred simultaneously, it would have been difficult for the international institutions or developed countries to provide adequate rescue packages to those affected countries. Third, the US economy, which has been Korea’s largest market recorded very high levels of stable growth throughout the 1990s. With the depreciation of the Korean currency, it was therefore, relatively easy for Korean exporters to penetrate the US market and increase their market share.
It has also, along with subsequent crises, affected the global financial system.
With the exceptions of Hong Kong and Singapore, the riskiness of banks’ operating environment was not matched by an appropriate level of capital. History led to the strong expectation that depositors and creditors would get bailed out should banks get into trouble. In the face of strong political pressures for regulatory forbearance, bank supervisors lacked the mandate to resist. Adding to these problems, the quality of public disclosure and transparency was questionable. Of course, every borrower of foreign funds in these economies had a corresponding lender overseas.
The Korean Economy at the Crossroads: Triumphs, Difficulties and Triumphs Again by Chung-Sok Suh, Moon Joong Tcha, Un Chan Chung
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