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Author: Jang-Sup Shin
Publisher: Routledge
Published: 2003-01-16
Total Pages: 157
ISBN-13: 1134469381
DOWNLOAD EBOOKThe 1997 South Korean financial crisis not only shook the country itself but also sent shock waves through the financial world at large. This impressive book critically assesses the conventional wisdom surrounding the Korean crisis and the performance of the IMF-sponsored reform programme.Looking first at the strengths and weaknesses of 'Korea Inc.
Author: Stephan Haggard
Publisher: Cambridge University Press
Published: 2003-02-26
Total Pages: 374
ISBN-13: 9780521823630
DOWNLOAD EBOOKAsian business conglomerates have clearly been successful agents of growth, mobilizing capital, borrowing technology from abroad and spearheading Asia's exports. However, these firms have long had a number of organisational and financial weaknesses, including heavy reliance on debt, that make them vulnerable to shocks. Nowhere was this more true than in Korea, where the large corporate groups known as chaebol have dominated the economic landscape. This collection of essays by leading political scientists and economists provides a comprehensive look at the chaebol problem in the wake of the Asian financial crisis. The authors consider the historical evolution of the chaebol and their contribution to the onset of economic turmoil in 1997. The book analyses the government's short-run response to corporate and financial distress, and outlines an agenda for longer-term reform of the financial system, corporate governance and the politics of business-government relations.
Author: Mr.Angel J. Ubide
Publisher: International Monetary Fund
Published: 1999-03-01
Total Pages: 67
ISBN-13: 1451844646
DOWNLOAD EBOOKAfter 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.
Author: Sung-Hee Jwa
Publisher: Edward Elgar Publishing
Published: 2004-01-01
Total Pages: 310
ISBN-13: 9781782543237
DOWNLOAD EBOOK"This informative book will appeal to academics and researchers of industrial organization, economics and corporate reform as well as those involved in Asian studies."--BOOK JACKET.
Author: Sea-Jin Chang
Publisher: Cambridge University Press
Published: 2003-04-28
Total Pages: 380
ISBN-13: 1139440071
DOWNLOAD EBOOKSea-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.
Author: Carl-Johan Lindgren
Publisher:
Published: 1999
Total Pages: 103
ISBN-13: 9781557758712
DOWNLOAD EBOOKAn IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
Author: Duck-Koo Chung
Publisher: Edward Elgar Publishing
Published: 2004
Total Pages: 388
ISBN-13: 1843769735
DOWNLOAD EBOOKMore 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.
Author: Robert F. Emery
Publisher: Routledge
Published: 2019-01-25
Total Pages: 234
ISBN-13: 9781138721791
DOWNLOAD EBOOKThis title was first published in 2001. In 1997 the author was told, by an official at the Korean embassy in Washington DC, that the most serious economic problem facing Korea was the need for reform of the financial sector. This proved to be true, as a financial crisis hit Korea in November 1997. Though problems arising before November 1997 indicate that Korea's economic problems were not solely financial. This study covers earlier reform efforts, the 1997 crisis and the measures taken by Korea since then to deal with the country's economic problems. It attempts to analyze the problems and offer suggestions as to how problems might corrected or resolved.
Author: Iain Pirie
Publisher: Routledge
Published: 2007-09-12
Total Pages: 248
ISBN-13: 1134141580
DOWNLOAD EBOOKIan Pirie gives a comprehensive and up-to-date analysis of state and economic restructuring in South Korea since the 1997 crisis.
Author: Umakanth Varottil
Publisher: Cambridge University Press
Published: 2017-10-26
Total Pages: 545
ISBN-13: 1107195276
DOWNLOAD EBOOKComparative Takeover Regulation compares the laws relating to takeovers in leading Asian economies and relates them to broader global developments. It is ideal for educational institutions that teach corporate law, corporate governance, and mergers and acquisitions, as well as for law firms, corporate counsel and other practitioners.
