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Insolvency in the Corporate Sector and Financial Crisis in Korea

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Author Info
Kim, Joon-Kyung () (Korea Development Institute and University of Hawaii at Manoa)
Lee, Chung H. (European Institute of Japanese Studies)
Abstract

The paper shows that between the late 1980s and 1997, the year when Korea was engulfed in a financial crisis, its corporate-sector profitability was on a decreasing trend, albeit short-term ups and downs. The evidence presented in the paper suggests that Korea’s corporate and financial sectors had been highly vulnerable to a crisis for some years before 1997 and the actual timing of the crisis was triggered by the financial crisis in Thailand in July 1997 and its contagion effect.

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File URL: http://swopec.hhs.se/eijswp/papers/eijswp0122.pdf
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Publisher Info
Paper provided by The European Institute of Japanese Studies in its series EIJS Working Paper Series with number 122.

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Length: 16 pages
Date of creation: Apr 2001
Date of revision:
Handle: RePEc:hhs:eijswp:0122

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Related research
Keywords: Asian crisis Korean economy corporate sector insolvency.

Find related papers by JEL classification:
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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