TY - BOOK ID - 84540840 TI - Credit Allocation and Financial Crisis in Korea AU - Borensztein, Eduardo. AU - Lee, Jong-Wha. PY - 1999 SN - 1462388426 145275635X 1281604607 9786613785299 1451891636 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Exports and Imports KW - Money and Monetary Policy KW - Industries: Financial Services KW - Financial Markets and the Macroeconomy KW - General Financial Markets: Government Policy and Regulation KW - Economic Development: Financial Markets KW - Saving and Capital Investment KW - Corporate Finance and Governance KW - Economywide Country Studies: Asia including Middle East KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Financial Institutions and Services: General KW - International Lending and Debt Problems KW - Monetary economics KW - Finance KW - International economics KW - Credit KW - Bank credit KW - Loans KW - Financial sector KW - External debt KW - Money KW - Financial institutions KW - Economic sectors KW - Financial services industry KW - Debts, External KW - Korea, Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84540840 AB - This paper analyzes some of the structural problems associated with the Korean financial sector, and investigates whether the financial system has allocated credit in an efficient way over the past three decades. Using data for 32 manufacturing sectors, we find no evidence that credit flows were directed to the relatively more profitable sectors, either before or after the financial reforms. We also find that the flow of credits did not contribute to improve the economic performance of the favored industries over time. ER -