Detail Factors Contributing to The Financial Crisis in Korea   Oleh:  Sung, Yeung Kwack Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Asian Economics vol. 9 no. 4 (1998), page 611-626. Topik: FINANCIAL CRISIS; factors contributing; financial crisis Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ50.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Korea's economic development is a well documented fact. The globalization of the Korean economy brought with it a high rate of economic growth. The Korean economy began to experience a financial crisis from late 1997. This paper inquires into the causes that led to such a crisis. It shows that there were economic indicators foretelling the crisis. Among many factors causing the crisis, the current account deficit, the inadequate cash flows of corporations and the banks' weakening finances, and the small amount of international reserves, provided conditions for a successful speculative attack on the Korean won. The government guarantees led to over - investment and excessive borrowing. Thus, the self - fulfilling hypothesis of Flood and Garbers (1984) and Obstfeld (1986) and the hypothesis of Krugman (1998) explain the causes of the Korean crisis to a great extent. This paper addresses banks' performance and the weak financial condition of corporations and concludes that to get back on the path of stable economic growth, export diversification and productivity growth, together with a sound financial system, is necessary. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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