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How Did Korean Financial Markets Get Infected by the Global Financial Crisis?

In: Global Economic Crisis

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  • Hangyong Lee
  • Min-Kyu Song

Abstract

The expert contributors compare the recent crisis with earlier crises, explore international aspects of the crisis from the perspectives of financial markets and trade, and examine macroeconomic policy responses. In so doing, they address important questions including: How did this crisis differ from those suffered previously? How and why did flaws in financial markets contribute to the crisis? How important were global imbalances and global overheating in explaining the global meltdown? Did different pre-crisis fundamentals generate different post-crisis performances? And, how severe were the economic shocks to countries such as Korea and other emerging economies?

Suggested Citation

  • Hangyong Lee & Min-Kyu Song, 2012. "How Did Korean Financial Markets Get Infected by the Global Financial Crisis?," Chapters, in: Maurice Obstfeld & Dongchul Cho & Andrew Mason (ed.), Global Economic Crisis, chapter 5, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14951_5
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    References listed on IDEAS

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    1. Naohiko Baba & Frank Packer & Teppei Nagano, 2008. "The spillover of money market turbulence to FX swap and cross-currency swap markets," BIS Quarterly Review, Bank for International Settlements, March.
    2. Upper, Christian & Worms, Andreas, 2004. "Estimating bilateral exposures in the German interbank market: Is there a danger of contagion?," European Economic Review, Elsevier, vol. 48(4), pages 827-849, August.
    3. Donald L. Kohn, 2008. "Global economic integration and decoupling: a speech at the International Research Forum on Monetary Policy, Frankfurt, Germany, June 26, 2008," Speech 416, Board of Governors of the Federal Reserve System (U.S.).
    4. Shi Young Lee & Eun‐mee Kim & Sung Hee Jun, 2009. "On the Exportability of Korean Movies," Review of Development Economics, Wiley Blackwell, vol. 13(1), pages 28-38, February.
    5. Van Rijckeghem, Caroline & Weder, Beatrice, 2001. "Sources of contagion: is it finance or trade?," Journal of International Economics, Elsevier, vol. 54(2), pages 293-308, August.
    6. Nicola Cetorelli & Linda S Goldberg, 2011. "Global Banks and International Shock Transmission: Evidence from the Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(1), pages 41-76, April.
    7. repec:fip:fedgsq:y:2008:x:64 is not listed on IDEAS
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