[PDF] Growth Crisis And The Korean Economy eBook

Author : Dongchul Cho
Publisher : Routledge
Page : 362 pages
File Size : 42,12 MB
Release : 2015-03-02
Category : Business & Economics
ISBN : 1317501616

GET BOOK

Since the 2008 global financial crisis, policymakers as well as academicians have been seeking to fathom why subsequent recoveries remain tenuous. Other outstanding issues that they have been trying to understand include: why do some economies grow faster than others? How should the exchange rate volatility be understood and what factors make an economy more likely to fall into an exchange rate crisis? What policies need to be taken during tranquil periods, and how should they be changed once the crisis is triggered? As a partial effort to meet such interests, this book provides insights into these issues. This book examines growth and convergence (Part I), exchange rate volatility and the Asian crisis (Part II), and the global crisis (Part III). In addition, the book also draws lessons from South Korea's experiences - a country which has undergone three different crises and brisk recoveries (Part IV). The book also includes some practical and policy-oriented analysis. This is a truly comprehensive book bringing together varied topics and diversity under one common theme - economic growth and crisis.

Author : Barry Eichengreen
Publisher : BRILL
Page : 395 pages
File Size : 28,21 MB
Release : 2020-05-11
Category : History
ISBN : 1684175267

GET BOOK

"The economic growth of South Korea has been a remarkable success story. After the Korean War, the country was one of the poorest economies on the planet; by the twenty-first century, it had become a middle-income country, a member of the Organization of Economic Cooperation and Development (the club of advanced economies), and home to some of the world’s leading industrial corporations. And yet, many Koreans are less than satisfied with their country’s economic performance, given the continuing financial volatility and sluggish growth since the Korean economic crisis of 1997–1998.From Miracle to Maturity offers a comprehensive qualitative and quantitative analysis of the growth of the Korean economy, starting with the aggregate sources of growth (growth of the labor force, the stock of capital, and productivity) and then delving deeper into the roles played by structural change, exports, foreign investment, and financial development. The authors provide a detailed examination of the question of whether the Korean economy is now underperforming and ask, if so, what can be done to solve the problem."

Author : Kyu-sŏng Yi
Publisher : World Bank Publications
Page : 480 pages
File Size : 15,43 MB
Release : 2011
Category : Financial crises
ISBN :

GET BOOK

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.

Author : Charles Harvie
Publisher : Edward Elgar Publishing
Page : 342 pages
File Size : 50,83 MB
Release : 2004-01-01
Category : Business & Economics
ISBN : 9781782543824

GET BOOK

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.

Author : Kim Chuk Kyo
Publisher : World Scientific
Page : 308 pages
File Size : 44,81 MB
Release : 2019-03-06
Category : Business & Economics
ISBN : 9813276010

GET BOOK

The purpose of this book is to provide a systematic and policy-focused analysis of Korea's development performance from a historical perspective. The book begins with post-war reconstruction efforts and extends to recent developments in the Korean economy. Through a comprehensive analysis of Korea's development performance over the last six decades, the book examines in detail how development strategies and policies evolved over time, what were their consequences and underlying factors, and what lessons can be drawn from the Korean experience. A wide range of issues are discussed, including the role of government, capital accumulation, growth and structural change, industrial development and concentration, economic liberalization, human resource and technology development, social development and income distribution. The important features of the Korean development model are highlighted to draw lessons from the Korean experience.

Author : Wontack Hong
Publisher : Edward Elgar Publishing
Page : 184 pages
File Size : 37,73 MB
Release : 2002
Category : Business & Economics
ISBN :

GET BOOK

Korea has experienced one of the most profound economic transformations of any nation in history, and remains a very important focus of academic inquiry. Whilst the process of catch-up in Korea - led by export-oriented growth - has been rapid and, in a sense, very successful, it has also been subject to turbulence, not least in a crisis of near bankruptcy that has dramatically revealed its Achilles heel. Informed by the 1997 crisis, Wontack Hong writes a new history of the Korean economy; one that seeks to understand export-oriented catch-up in newly industrialized countries (NICs) whilst offering a realistic appraisal and forewarning of the pitfalls which could signal self-destruction. Catch-up and Crisis in Korea offers a balanced perspective on the Korean economy, and on newly industrialized countries in general, for those who have a serious interest in understanding the industrialization process.

Author : Jongryn Mo
Publisher : BRILL
Page : 246 pages
File Size : 29,82 MB
Release : 2020-10-26
Category : History
ISBN : 1684175372

GET BOOK

"How do poor nations become rich, industrialized, and democratic? And what role does democracy play in this transition? To address these questions, Jongryn Mo and Barry R. Weingast study South Korea’s remarkable transformation since 1960. The authors concentrate on three critical turning points: Park Chung Hee’s creation of the development state beginning in the early 1960s, democratization in 1987, and the genesis of and reaction to the 1997 economic crisis. At each turning point, Korea took a significant step toward creating an open access social order.The dynamics of this transition hinge on the inclusion of a wide array of citizens, rather than just a narrow elite, in economic and political activities and organizations. The political economy systems that followed each of the first two turning points lacked balance in the degree of political and economic openness and did not last. The Korean experience, therefore, suggests that a society lacking balance cannot sustain development. Korean Political and Economic Development offers a new view of how Korea was able to maintain a pro-development state with sustained growth by resolving repeated crises in favor of rebalancing and greater political and economic openness."

Author : Il SaKong
Publisher : 한국개발연구원
Page : 362 pages
File Size : 26,75 MB
Release : 2010
Category : Business & Economics
ISBN :

GET BOOK

Reviews the evolution of economic growth and trends in social development during the period between 1948 and 2009.

Author : Chung-Sok Suh
Publisher : Routledge
Page : 430 pages
File Size : 14,8 MB
Release : 2004-03-01
Category : Business & Economics
ISBN : 1134375026

GET BOOK

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.

Author : O. Yul Kwon
Publisher : Edward Elgar Publishing
Page : 344 pages
File Size : 48,57 MB
Release : 2001-01-01
Category : Business & Economics
ISBN : 9781782543732

GET BOOK

'. . . 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.