Causes Of Turmoil In South Korea
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Causes Of Turmoil In South Korea
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Author : Katherine C. G. O'Connor
language : en
Publisher:
Release Date : 2002
Causes Of Turmoil In South Korea written by Katherine C. G. O'Connor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Banks and banking categories.
The Causes Of The Imf Crisis In South Korea What Experts Say
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Author : Juhyuk Park
language : en
Publisher:
Release Date : 2021-01-08
The Causes Of The Imf Crisis In South Korea What Experts Say written by Juhyuk Park and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-08 with categories.
Seminar paper from the year 2011 in the subject Economics - Finance, grade: A, The University of North Carolina at Chapel Hill, course: Advanced Macroeconomics, language: English, abstract: What had happened to Korea, and why did the nation have to face the IMF crisis in 1997 all of a sudden? To see what the causes for the crisis were, analyses from six essays of scholars and experts in the field of economics will be introduced and compared. While they have similar and different views for the causes at the same time, their views can be grouped into two categories: internal factors and external factors. When the Korean currency crisis broke out, the IMF and many scholars focused the whole crisis on Korea's internal problems. However, there are many other scholars who attribute the causes not only to internal but also to external problems. The experts who see the causes as internal problems think the crisis originated from internal factors of Korea such as policy mistakes, highly leveraged corporate sectors, and banking system. The external factors refer to the external shocks such as contagion effect from South-east financial crisis and appreciation of Japanese yen. Although all the causes for the crisis are closely related with each other, addressing the causes separately would give people better understanding of the context. On Nov. 1997, Korea faced the IMF crisis, or also known as the financial crisis, which caused severe damage to the Korean economy. The new OECD member was reduced from being the world's eleventh largest economy to an economy surviving on overnight loans from the international money markets. The won, the Korean currency, fell by more than 50 percent against the US dollar. Also, KOSPI (the Korea Composite Stock Price Index) fell by thirty percent, and the short-term interest rate shot up to forty percent per year. Consequently, on Dec. 1997, Korea called the IMF for rescue, owing $58.3 billion of financial aid. As shown in table 1 and 2 in the
The Korean Economy Beyond The Crisis
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Author : Duck-Koo Chung
language : en
Publisher: Edward Elgar Publishing
Release Date : 2004
The Korean Economy Beyond The Crisis written by Duck-Koo Chung and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
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.
South Korea S Democracy In Crisis
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Author : Gi-Wook Shin
language : en
Publisher: Rowman & Littlefield
Release Date : 2022-12-27
South Korea S Democracy In Crisis written by Gi-Wook Shin and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-27 with Political Science categories.
Like in many other states worldwide, democracy is in trouble in South Korea, entering a state of regression in the past decade, barely thirty years after its emergence in 1987. The contributors to this volume trace the sources of illiberalism in today’s Korea.
Managing The Asian Meltdown
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Author : Gregory P. Corning
language : en
Publisher:
Release Date : 2016
Managing The Asian Meltdown written by Gregory P. Corning and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Financial crises categories.
This case study asks students to consider the causes of the Korean economic crisis of 1997-1998 and assess the appropriateness of the International Monetary Fund's response to it. On a more general level, the case explores the evolving role of the IMF by asking students to think about the responsibility of both lenders and borrowers in the Asian crisis, the problem of moral hazard, and the necessity of structural adjustment in crisis countries.
The North Korea Crisis And Regional Responses
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Author : Utpal Vyas
language : en
Publisher:
Release Date : 2015-02-26
The North Korea Crisis And Regional Responses written by Utpal Vyas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-26 with Political Science categories.
Postwar East Asia has seen astonishing economic dynamism in Japan, South Korea, China, and Taiwan as well as a transformation of authoritarian regimes into vibrant democracies in South Korea and Taiwan. Neither of these trends has taken hold in the Democratic People's Republic of Korea (DPRK), which remains the worst kind of historical anachronism: a hereditary monarchy with the modern trappings of totalitarianism and a centrally mismanaged economy. Insecure both internally and externally, and ruthless in its pursuit of regime survival, the DPRK government has spawned two crises. The first is a domestic humanitarian disaster, caused by the government's massive failure to protect the human rights of its people. The second is a regional strategic crisis caused by North Korea's development of nuclear weapons along with the ballistic missiles that might deliver them. Governments in the region recognize that the DPRK's prison labor camps are a moral outrage. They are also united in their opposition to North Korea's nuclear weapons program, although they perceive differing levels and types of threats from these weapons. There is a basis for coordinated action against a North Korean state that is extraordinarily weak in economic and diplomatic terms. Such action, however, has not succeeded in solving either the humanitarian or the nuclear weapons crisis. Nor is any breakthrough expected in the foreseeable future. The explanation is found in the differing agenda of the frontline states, which includes "resident" Asian power the United States. This book delineates the twin crises and analyzes the relevant interests and positions of other major states in the region, assembling a broad picture of the overall lack of policy convergence beyond agreement on a few general principles. This volume is unusual in its collection of a variety of national viewpoints on a single major international issue. It provides valuable insight into the ongoing problem of managing a recalcitrant North Korea within an otherwise modern and globalizing region.
Crisis In Korea
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Author : Tim Beal
language : en
Publisher: Pluto Press
Release Date : 2011-09-15
Crisis In Korea written by Tim Beal and has been published by Pluto Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-15 with Political Science categories.
The South Korean warship Cheonan was sunk in mysterious circumstances on March 26, 2010. The remarkable events that followed are analyzed by Tim Beal and woven into a larger study of the increasingly volatile relations between North and South Korea and US concern about the rise of China. South Korea's stance towards the North has hardened significantly since the new conservative government came to power. Beal argues that the South moved quickly to use the sinking of the Cheonan to put international pressure on the North, even before the cause of the sinking had been established. The United States followed suit by attempting to pressure China into condemning North Korea. The media reports at the time presented an open and shut case of unprovoked North Korean aggression, but the evidence points towards the accidental triggering of a South Korean mine as the cause and South Korean fabrication to incriminate the North. With the South bent on forcing the fall of the North's regime with US help and China unlikely to stand idly by, this book offers an essential guide to the key factors behind the crisis and possible solutions.
Korea S Economic Prospects
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Author : O. Yul Kwon
language : en
Publisher: Edward Elgar Publishing
Release Date : 2001-01-01
Korea S Economic Prospects written by O. Yul Kwon and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-01 with Business & Economics categories.
'. . . 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.
Precipitating Causes Of The 1997 Asian Financial Crisis
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Author : Paul Park
language : en
Publisher:
Release Date : 2010
Precipitating Causes Of The 1997 Asian Financial Crisis written by Paul Park and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
After the Asian Financial Crisis in 1997, many researches and studies found internal and external impacts and came to a general agreement that investors' panic behavior made South Korea to be a part of the crisis. There are general ideas about why and how investors started to panic. This thesis focuses on specific events that triggered investors' panic behavior. The conclusion shows that investors started panic and withdraw their funds from South Korea when Kia, 8th largest chaebol in South Korea, was impacted by the economic down turn in July 1997. Korea's stock market and foreign reserves started to significantly decrease in July 1997 and these show that investors started to panic after they were informed about Kia's economic circumstance. Another important result from the study is that there have been few large chaebols that failed before Kia. This shows that fall of chaebols before Kia made investors to doubtful about Korea's economy and Kia's fall made investors to lose confidence in the Korea's economy.
The Korean Economy
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Author : Charles Harvie
language : en
Publisher: Edward Elgar Publishing
Release Date : 2004-01-01
The Korean Economy written by Charles Harvie and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01-01 with Business & Economics categories.
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.