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From Crisis To Recovery In Korea
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Book Synopsis Korean Crisis and Recovery by : Mr.David T. Coe
Download or read book Korean Crisis and Recovery written by Mr.David T. Coe and published by International Monetary Fund. This book was released on 2002-09-19 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edited by David T. Coe and Se-Jik Kim, this volume contains papers presented at a May 2001 conference in Seoul sponsored by the IMF and the Korea Institute for International Economic Policy on the Korean Crisis and Recovery. The papers examine the response to the 1997 crisis, its long-term impact on growth, and the state of financial and corporate sector reforms. Authors include academics, Korean policymakers, and IMF and World Bank staff involved in the Korean program.
Book Synopsis From Crisis to Recovery in Korea: Strategy, Achievements, and Lessons by : Ajai Chopra
Download or read book From Crisis to Recovery in Korea: Strategy, Achievements, and Lessons written by Ajai Chopra and published by INTERNATIONAL MONETARY FUND. This book was released on 2001-10-01 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant progress has also been made in stabilizing the financial system and addressing corporate distress, and wide-ranging reforms have made Korea’s economy more open, competitive, and market driven. Notwithstanding these achievements, more needs to be done before the soundness of the corporate and financial sectors is firmly established.
Book Synopsis Korea after the Crash by : Brian Bridges
Download or read book Korea after the Crash written by Brian Bridges and published by Routledge. This book was released on 2012-10-12 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brian Bridges examines the impact on South Korea of the financial crisis of 1997. Covering events up to and including the recent parliamentary elections in South Korea, the book considers the socio-economic and political implications of the financial crisis. It is invaluable reading for students of modern Korea.
Book Synopsis From Crisis to Recovery in Korea by :
Download or read book From Crisis to Recovery in Korea written by and published by . This book was released on 2001 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Korean Financial Crisis of 1997 by : Kyu-sŏng Yi
Download or read book The Korean Financial Crisis of 1997 written by Kyu-sŏng Yi and published by World Bank Publications. This book was released on 2011 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Korean Economy Beyond the Crisis by : Duck-Koo Chung
Download or read book The Korean Economy Beyond the Crisis written by Duck-Koo Chung and published by Edward Elgar Publishing. This book was released on 2004 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than five years have passed since South Korea fell prey to the Asian financial crisis. Bringing together experts from Korea and a variety of other countries, this book aims to better understand the three stages of the Korean crisis: the onset, the policy reaction, and the economic response. Providing an integrated analysis of the event and its consequences, the chapters in the book consider the causes of the crisis, the response of the US government and International Monetary Fund, adjustments in the Korean monetary and fiscal policies, and the success of financial and corporate restructuring. The concluding chapters bring the story up-to-date, describing the aftermath of the crisis and assessing whether there has been sufficient reform to facilitate the country s recovery and growth. International and also Asian economists will find this a thoroughly accessible and illuminating book, as will specialists on Korea, political scientists and political economists.
Book Synopsis OECD Insights From Crisis to Recovery The Causes, Course and Consequences of the Great Recession by : Keeley Brian
Download or read book OECD Insights From Crisis to Recovery The Causes, Course and Consequences of the Great Recession written by Keeley Brian and published by OECD Publishing. This book was released on 2010-09-10 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Crisis to Recovery traces the causes, course and consequences of the “Great Recession”. It explains how a global build up of liquidity, coupled with poor regulation, created a financial crisis that quickly began to make itself felt in the real economy.
Book Synopsis Recovery from a Financial Meltdown by : Shalendra D. Sharma
Download or read book Recovery from a Financial Meltdown written by Shalendra D. Sharma and published by . This book was released on 2017 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Korea, the IMF-supported program, approved in late 1997, focused on financial sector restructuring, corporate governance, capital account liberalization, labor market reforms and trade liberalization. As in Thailand, it soon became clear that the IMF program underestimated the severity and deIn Korea, the IMF-supported program, approved in late 1997, focused on financial sector restructuring, corporate governance, capital account liberalization, labor market reforms and trade liberalization. As in Thailand, it soon became clear that the IMF program underestimated the severity and depth of the crisis. It fell upon the newly-elected government of Kim Dae-Jung to deal with both the crisis and the IMF. This paper illustrates how the Kim Dae-Jung administration deftly dealt with the grave challenges it faced. Korea's remarkable economic recovery, is in large measure, due to the government's prudent handling of the numerous economic challenges it faced. This paper examines the Korean government's management of the crisis-documenting both its achievements and the challenges ahead.
Book Synopsis The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform by : Mr.Angel J. Ubide
Download or read book The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform written by Mr.Angel J. Ubide and published by International Monetary Fund. This book was released on 1999-03-01 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Korean Economy by : Charles Harvie
Download or read book The Korean Economy written by Charles Harvie and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Korea has played, and will increasingly play, an important role in the future development of the South East Asian region, including the expansion of regional economic cooperation and interregional trade. Indeed Korea has been a leading proponent of the idea of ASEAN+3. Clearer understanding of this economy, its major contemporary policy and reform issues and its future, are of particular interest from both regional and global perspectives.
Book Synopsis Korea's Economic Prospects by : O. Yul Kwon
Download or read book Korea's Economic Prospects written by O. Yul Kwon and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: '. . . very well presented academic book. . . in Korea's Economic Prospects a valuable source of research material on the economy and its prospects. It will help one to understand the factors leading to the Korean recovery which has recently been recognised by the credit rating agency. . .' - Marie-Aimée Tourres, The Journal of Development Studies This book examines the major issues arising from the Korean financial crisis of 1997. It considers the strong prospects for rapid economic recovery and the emerging changes in Korea's international economic relations and business environment. The authors investigate the causes of the financial crisis and provide an evaluation of remedial measures and reforms currently being introduced in both private and public sectors of the Korean economy. The book identifies a paradigm shift in Korean economic policy and discusses Korea's new role in both the regional and global economy. It also examines the major developments reshaping Korea's international business environment through fundamental policy shifts in trade, foreign direct investment, labor relations, management practices and the emerging trends in e-commerce.
Book Synopsis Inequality in Crisis and Recovery by : Kinisha Forbes
Download or read book Inequality in Crisis and Recovery written by Kinisha Forbes and published by . This book was released on 2011 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis After the Storm by : Jomo Kwame Sundaram
Download or read book After the Storm written by Jomo Kwame Sundaram and published by NUS Press. This book was released on 2004 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the Storm discusses restructuring and growth strategies adopted in Indonesia, Malaysia, Thailand, and South Korea after the currency and financial crisis of 1997-98. These four Asian economies were the most adversely affected despite achieving rapid growth in the 1970s and 1980s, with low inflation and current account surpluses. Although macroeconomic fundamentals in these countries were relatively sound prior to the crisis, early analyses of the crisis dwelled on the failure of corporate governance, currency controls and immature financial institutions and infrastructure in some countries. The book offers fresh insights into the causes of the crisis and postcrisis restructuring, the growth strategies adopted, and domestic initiatives taken by these countries. It also reveals why reforms recommended by the IMF, World Bank and others were met with resistance, thereby contributing to the ongoing discourse on the effects of globalisation.
Book Synopsis Developmental Mindset by : Elizabeth Thurbon
Download or read book Developmental Mindset written by Elizabeth Thurbon and published by Cornell University Press. This book was released on 2016-06-09 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian financial crisis of 1997–1998 was supposed to be the death knell for the developmental state. The International Monetary Fund supplied emergency funds for shattered economies but demanded that states liberalize financial markets and withdraw from direct involvement in the economy. Financial liberalization was meant to spell the end of strategic industry policy and the state-directed "policy lending" it involved. Yet, largely unremarked by analysts, South Korea has since seen a striking revival of financial activism. Policy lending by state-owned development banks has returned the state to the core of the financial system. Korean development banks now account for one quarter of all loans and take the lead in providing low-cost finance to local manufacturing firms in strategic industries.Elizabeth Thurbon argues that an ideational analysis can help explain this renewed financial activism. She demonstrates the presence of a "developmental mindset" on the part of political leaders and policy elites in Korea. This mindset involves shared ways of thinking about the purpose of finance and its relationship to the productive economy. The developmental mindset has a long history in Korea but is subject to the vicissitudes of political and economic circumstances. Thurbon traces the structural, institutional, political, and ideational factors that have strengthened and at times weakened the developmental consensus, culminating in the revival of financial activism in Korea. In doing so, Thurbon offers a novel defense of the developmental state idea and a new framework for investigating the emergence and evolution of developmental states. She also canvasses the implications of the Korean experience for wider debates concerning the future of financial activism in an era of financialization, energy insecurity, and climate change.
Book Synopsis From Crisis to Recovery by : Zongxian Yu
Download or read book From Crisis to Recovery written by Zongxian Yu and published by World Scientific. This book was released on 2001 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Readership: Professors and graduate students in economics and economists working in financial institutions such as the World Bank, IMF, ADB and commercial banks.
Book Synopsis The Asian Financial Crisis by : Shalendra Sharma
Download or read book The Asian Financial Crisis written by Shalendra Sharma and published by Manchester University Press. This book was released on 2018-07-30 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: This electronic version has been made available under a Creative Commons (BY-NC-ND) open access license. The Asian financial crisis of 1997-98 shook the foundations of the global economy and what began as a localised currency crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies long considered 'miracles' respond? How did the United States, Japan and other G-7 countries respond to the crisis? What role did the IMF play?. Why did China, which suffers many of the same structural problems responsible for the crisis remain conspicuously insulated from the turmoil raging in its midst?. What explains the remarkable recovery now underway in Asia? In what fundamental ways did the Asian crisis serve as a catalyst to the current thinking about the "new international financial architecture"?. This book provides answers to all the above questions and more, and gives a comprehensive account of how the international economic order operates, examines its strengths and weaknesses, and what needs to be done to fix it.
Book Synopsis Global Economic Crisis by : Maurice Obstfeld
Download or read book Global Economic Crisis written by Maurice Obstfeld and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2008, the global economy experienced the most severe crash since World War II. A sharp collapse in international trade followed, leaving no country on the globe immune to a sequence of economic shocks. This timely book explores many of the key issues raised in the wake of the global economic crisis and provides an in-depth analysis of crisis transmission to emerging markets. The expert contributors compare the recent crisis with earlier crises, explore international aspects of the crisis from the perspectives of markets and trade, and examine macroeconomic policy responses. In so doing, they address important questions including: How did this crisis differ from those suffered previously? How and why did flaws in financial markets contribute to the crisis? How important were global imbalances and global overheating in explaining the global meltdown? Did different pre-crisis fundamentals generate different post-crisis performances? And, how severe were the economic shocks to countries such as Korea and other emerging economies? Academics, students and policymakers in the fields of economics, international economics, finance money and banking and Asian studies will find this book to be a thought-provoking and stimulating read.
