Aggregate debt efficiency and debt inertia: lessons from the Korean economy
AbstractThis paper investigates the link between aggregate debt efficiency and debt inertia in an highly leveraged business sector like Korea's. The model designs the concepts of liquidity multiplier and debt inertia to argue that they are two major indicators of aggregate debt efficiency. The empirical assessment to the Korean business sector indicates that the aggregate debt efficiency depends mainly on externalities of the debt inertia rather than liquidity creation due to the liquidity multiplier. The economic crisis of Korea in 1997 proves that such a debt efficiency structure must be vulnerable to attack.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 33 (2001)
Issue (Month): 7 ()
Contact details of provider:
Web page: http://www.tandfonline.com/RAEC20
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.