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dc.contributor.authorKwon, Oh
dc.date.accessioned2019-06-05T22:13:59Z
dc.date.available2019-06-05T22:13:59Z
dc.date.issued1998
dc.identifier.issn13547860
dc.identifier.doi10.1080/13547869808724656
dc.identifier.urihttp://hdl.handle.net/10072/121800
dc.description.abstractPulling down the curtain on its economic miracle of the last three decades, South Korea suddenly fell into a financial crisis in 1997, and was rescued by the IMF. The causes of the crisis are identified in four different sectors of the Korean economy: the real sector, the banking sector, the securities market and the foreign exchange market. Underlying the numerous causes identified for the crisis is the failure of the very institutions and economic structure that propelled Korea to its economic success, in adapting to emerging changes in domestic and international environments. The IMF rescue package is therefore intended to remedy the institutional and structural flaws. The Korean economy is at a crossroads. If it complies well with the IMF conditionality, the economy will be revitalized based on a firmer institutional and structural foundation within a few years. If, however, Korea fails to do so, it will remain an IMF recidivist. Although it has made substantial progress, Korea still faces serious challenges for a successful completion of the IMF programme.
dc.description.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherRoutledge
dc.publisher.placeUK
dc.relation.ispartofpagefrom331
dc.relation.ispartofpageto357
dc.relation.ispartofissue3
dc.relation.ispartofjournalJournal of the Asia Pacific Economy
dc.relation.ispartofvolume3
dc.subject.fieldofresearchApplied Economics
dc.subject.fieldofresearchBanking, Finance and Investment
dc.subject.fieldofresearchPolicy and Administration
dc.subject.fieldofresearchcode1402
dc.subject.fieldofresearchcode1502
dc.subject.fieldofresearchcode1605
dc.titleThe Korean financial crisis: Diagnosis, remedies and prospects
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of International Business and Asian Studies
gro.hasfulltextNo Full Text
gro.griffith.authorKwon, Oh Y.


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