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From Crisis to Recovery in Korea Strategy, Achievements, and Lessons

This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant progress...

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Bibliographic Details
Main Author: Kang, Kenneth
Other Authors: Liang, Hong, Ma, Henry, Richards, Anthony
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2001
Series:IMF Working Papers
Subjects:
Economic & Financial Crises & Disasters
Depository Institutions
Commercial Banks
Banks
Finance
Financial Crises
Banks And Banking
Industries: Financial Services
Financial Institutions
Ownership & Organization Of Enterprises
Micro Finance Institutions
Corporate Finance And Governance: General
Mortgages
Economic Sectors
Corporate Finance
Business Enterprises
Corporate Sector
Loans
Financial Institutions And Services: General
Financial Services Industry
Banking
Financial Risk Management
Financial Sector
Korea, Republic Of
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant progress has also been made in stabilizing the financial system and addressing corporate distress, and wide-ranging reforms have made Korea’s economy more open, competitive, and market driven. Notwithstanding these achievements, more needs to be done before the soundness of the corporate and financial sectors is firmly established
Physical Description:94 pages
ISBN:9781451857238

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