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The Republic of Korea’s Economy in the Swirl of Global Crisis

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  • Dongchul Cho

Abstract

This paper argues that the Republic of Korea (hereafter Korea) is not immune to global crises, but that a more than proportional response of gross domestic product to global crises does not seem to be the general case either. Along this line of reasoning, Korea’s extreme response to the current crisis in the fourth quarter of 2008 was attributed not only to the crisis in the United States, but also to additional idiosyncratic components, such as the extraordinary collapse of the People’s Republic of China’s (PRC) imports and the drastic capital outflow from Korea. [ADBI Working Paper 147]

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  • Dongchul Cho, 2010. "The Republic of Korea’s Economy in the Swirl of Global Crisis," Working Papers id:3071, eSocialSciences.
  • Handle: RePEc:ess:wpaper:id:3071
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    1. Martin Sommer, 2009. "Why Has Japan Been Hit So Hard by the Global Recession?," IMF Staff Position Notes 2009/05, International Monetary Fund.
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    Keywords

    Republic of Korea; global crises; gross domestic product; United States; Republic of China’;

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