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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)

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    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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    Bibliographic 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.;

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