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The Korean Economy at the Crossroads: Triumphs, Difficulties and Triumphs Again

The Korean Economy at the Crossroads: Triumphs, Difficulties and Triumphs Again

by Chung-Sok Suh, Moon Joong Tcha

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For many years up until 1997, Korea was widely seen in economic and financial circles as something of a miracle. The financial crisis that Korea experienced then did much to set its economy back, but by 2001 it was still the 13th largest economy in terms of GDP in the world.
This enticing collection, with contributions from experts with an impressive knowledge of Korea and its economy, charts not only the well documented causes of the crisis, but more importantly, its response and recovery from it. With an admirable scholarly rigour, the book covers such topics as:
*the origin and evolution of the Korean economic system and its special factors including chaebols
*Korean industries since the crisis
*What happened to the money after the capital flight of the crisis and did the USA benefit?
"The Korean Economy at the" "Crossroads" is intended and recommended not only for students and academics involved in international finance, economics and Asian studies, but also for the business leaders and policy makers who can draw lessons from the books important analyses.

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Product Details

ISBN-13: 9781134375028
Publisher: Taylor & Francis
Publication date: 03/01/2004
Series: Routledge Studies in the Growth Economies of Asia
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 360
File size: 6 MB

Table of Contents

List of figures xi

List of tables xiii

List of contributors xvi

Foreword xviii

Acknowledgements xx

1 The Korean economy: triumphs, difficulties, and triumphs again? Moonjoong Tcha Miksoo Lee Chung-Sok Suh 1

2 The Asian financial crisis: genesis and exegesis John Hawkins 19

3 The origin and evolution of the Korean economic system Wonhyuk Lim 41

4 A 'stroke' hypothesis of Korea's 1997 financial crisis Hyun-Iloon Lee 53

5 The restructuring of the Korean economy since 1986 and the onset of the financial crisis: the industrial/financial nexus John McKay 69

6 The impact of ownership and capital structure on the productivity performance of Korean firms in the 1990s Ruysung Kim 84

7 Financial reporting of selected Korean listed companies: disclosure practices Youngok Kim 103

8 The chaebol and Korean capitalism: the Hyundai business group Seung-Ho Rwon Chung-Sok Suh 127

9 Real exchange rate and inward FDI in crisis-ridden Korea Jung-Soo Seo 153

10 The financial system in Korea after the 1997 financial crisis: a legal perspective Sunseop Jung 165

11 Dynamic prospects for Korean banks' monitoring of business groups Byung S. Min 187

12 The Korean steel industry after the economic crisis: challenges and opportunities Kwang Soo Park Moonjoong Tcha 200

13 Restructuring of the public enterprise after the crisis: the case of deposit insurance fund Sang-Mo On Hahm 215

14 The rise and fall of real estate trust institutions in Korea Jinu Kim Sang-Young Lee Denny McGeorge 233

15 Asia crisis postmortem: where did the money go and did the United States benefit? Eric Van Wincoop Kei-Mu Yi 247

16 Interpreting some empirical facts of business cycles and stock returns in Korea David Deok-Ki Kim 277

17 The role of FDI in the recovery of the financial crisis in Korea: the bilateral economic relationship between Korea and Australia under APEC Hyung-Min Kim 291

18 Korea's FTA policy: background and current progress Inkyo Cheong 312

Index 327

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