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Bringing back the dead: Post-pandemic challenges and policies for zombie firms

Author

Listed:
  • Song, Danbee

    (Korea Institute for Industrial Economics and Trade)

  • Cho, Jaehan

    (Korea Institute for Industrial Economics and Trade)

Abstract

Recently in Korea the number of financially distressed businesses, or zombie firms, has surged. This paper analyzes the growth of zombie firms in Korea, identifies key challenges associated with helping these firms recover post-pandemic, and describes the implications for policy carried by the analysis.

Suggested Citation

  • Song, Danbee & Cho, Jaehan, 2021. "Bringing back the dead: Post-pandemic challenges and policies for zombie firms," i-KIET Issues and Analysis 21/11, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kietia:2021_011
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    More about this item

    Keywords

    zombie firms; zombies; Korea; marginal firms; unhealthy firms; insolvent firms; bankruptcies; COVID-19; disaster aid; disaster relief; subsidies; government subsidies; corporate subsidies; corporate welfare; bailouts; credits; SMEs; small and medium-sized enterprises; restructuring;
    All these keywords.

    JEL classification:

    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • H84 - Public Economics - - Miscellaneous Issues - - - Disaster Aid
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy

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