IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-4039-2019-5_4.html
   My bibliography  Save this book chapter

Financial Crisis and the IMF Bailout

In: Korea’s Economic Miracle

Author

Listed:
  • Charles Harvie

    (University of Wollongong)

  • Hyun-Hoon Lee

    (Kangwon National University)

Abstract

As discussed in Chapter 3, Korea’s financial situation had become extremely fragile by the second half of 1997, but later developments plunged it into a financial abyss. The crisis started with an unprecedented number of business insolvencies (including eight of the 30 largest chaebols) and the devaluation of the Thai baht, the effect of which quickly spread to other regional currencies. During the second half of 1997 the region was afflicted by an unprecedented withdrawal of private capital, which contributed to the further downward spiral of regional currencies and stock markets. Korea managed to avoid the brunt of this until Taiwan and Hong Kong succumbed to the crisis in October.

Suggested Citation

  • Charles Harvie & Hyun-Hoon Lee, 2003. "Financial Crisis and the IMF Bailout," Palgrave Macmillan Books, in: Korea’s Economic Miracle, chapter 4, pages 79-118, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-2019-5_4
    DOI: 10.1057/9781403920195_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-4039-2019-5_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.