The Role of Kamco in Resolving Nonperforming Loans in the Republic of Korea
This paper aims to provide a balanced assessment of Korea Asset Management Corporation's role in resolving nonperforming loans in the aftermath of the 1997-98 financial crisis. It argues that KAMCO's incentive to dispose of NPLs can be explained by a strong social desire for a recovery of public funds injected for financial sector restructuring. KAMCO's market-making role also helped overcome informational and coordination problems in the development of a market for distressed assets.
|Date of creation:||01 Sep 2004|
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- Stefan N. Ingves & Steven A. Seelig & Dong He, 2004. "Issues in the Establishment of Asset Management Companies," IMF Policy Discussion Papers 04/3, International Monetary Fund.
- He, Dong, 2003. "Budget Formulation and Implementation in Korea: A Macroeconomic Perspective," MPRA Paper 9756, University Library of Munich, Germany.
- Leslie Teo & Charles Enoch & Carl-Johan Lindgren & TomÃ¡s J. T. BaliÃ±o & Anne Marie Gulde & Marc Quintyn, 2000. "Financial Sector Crisis and Restructuring; Lessons from Asia," IMF Occasional Papers 188, International Monetary Fund.
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