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The book covers the origin and evolution of the Korean economic system, special factors including chaebols, Korean industries since the crisis, what happened to the money after the capital flight of the crisis and asks did the USA benefit?
Finance - Korea (South) - History - 20th century. --- Finance. --- Korea (South) - Economic conditions - 1960-1988. --- Finance --- Business & Economics --- Economic History --- History --- Korea (South) --- Economic conditions --- K9400.80 --- K9480 --- Korea: Economy and industry -- history -- modern period, postwar period (1945- ) --- Korea: Economy and industry -- finance industries --- Funding --- Funds --- Economics --- Currency question
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Sea-Jin Chang argues that the Korean financial crisis of 1997 was due to the inertia of both the business groups known as chaebols and the Korean government which prevented adaptation to changing external environments. Once the Korean government stopped central economic planning and pursued economic liberalization in the 1980s, the transition created a void under which neither the government nor markets could monitor chaebols' investment activities. The intricate web of cross-shareholding, debt guarantees, and vertical integration resulted in extensive cross-subsidization and kept chaebols from shedding unprofitable businesses. The government's continued interventions in banks' lending practices created 'moral hazards' for both chaebols and banks. This treatment demonstrates how the structure of chaebols later inhibited other adaptations and for all practical purposes became nearly dysfunctional. The book argues that restructuring of chaebols should focus on improving corporate governance systems. After such restructuring, the author predicts, chaebols will re-emerge as stronger, more focused global players.
Corporations --- Conglomerate corporations --- Financial crises --- Corporate governance --- Finance. --- K9400.80 --- K9411 --- K9415 --- K9480 --- Finance --- Korea: Economy and industry -- history -- modern period, postwar period (1945- ) --- Korea: Economy and industry -- organization and systems -- conglomerates, Chaebŏl --- Korea: Economy and industry -- business methods and management --- Korea: Economy and industry -- finance industries --- Business, Economy and Management --- Economics
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Capitalism --- Korea (South) --- Economic policy --- K9309 --- K9400.80 --- K9409 --- K9417 --- K9480 --- Korea: Social sciences, society -- social theory, movements and protests --- Korea: Economy and industry -- history -- modern period, postwar period (1945- ) --- Korea: Economy and industry -- theory, methodology and philosophy --- Korea: Economy and industry -- labor and employment --- Korea: Economy and industry -- finance industries --- USAMGIK --- United States Army Military Government in Korea --- Taehan Minʼguk --- Han guo --- Dae Han Min Kuk --- Tae Han Min Guk --- Daehan-Minʼguk --- South Korea --- Tai Han Min Kook --- South Korean Interim Government --- S.K.I.G. --- SKIG --- Nam Chosŏn Kwado Chŏngbu --- Namjosŏn --- Namjosŏn Kwado Chŏngbu --- Republic of Korea --- Da Han Minguo --- Daehan Min-kuk --- Daikan Minkoku --- ROK --- 대한민국 --- 大韓民國 --- 대한 민국 --- Daehanminguk --- Ȯmnȯd Solongos --- Emu̇nedu̇ Solungus --- Solongos (South) --- Solungus (South) --- Bu̇gd Naĭramdakh Solongos Uls --- Bu̇gu̇de Nayiramdaqu Solungus Ulus --- I︠U︡zhnai︠a︡ Korei︠a︡ --- Южная Корея --- Korei︠a︡ (South) --- Корея (South) --- BNSU --- БНСУ
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Global Financial Crisis, 2008-2009 --- Financial crises --- Prevention --- Korea (South) --- Economic policy --- Economic conditions --- K9400.80 --- K9480 --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Korea: Economy and industry -- history -- modern period, postwar period (1945- ) --- Korea: Economy and industry -- finance industries --- USAMGIK --- United States Army Military Government in Korea --- Taehan Minʼguk --- Han guo --- Dae Han Min Kuk --- Tae Han Min Guk --- Daehan-Minʼguk --- South Korea --- Tai Han Min Kook --- South Korean Interim Government --- S.K.I.G. --- SKIG --- Nam Chosŏn Kwado Chŏngbu --- Namjosŏn --- Namjosŏn Kwado Chŏngbu --- Republic of Korea --- Da Han Minguo --- Daehan Min-kuk --- Daikan Minkoku --- ROK --- 대한민국 --- 大韓民國 --- 대한 민국 --- Daehanminguk --- Financial crises - Prevention --- Korea (South) - Economic policy - 1988 --- -Korea (South) - Economic conditions - 21st century --- Ȯmnȯd Solongos --- Emu̇nedu̇ Solungus --- Solongos (South) --- Solungus (South) --- Bu̇gd Naĭramdakh Solongos Uls --- Bu̇gu̇de Nayiramdaqu Solungus Ulus --- I︠U︡zhnai︠a︡ Korei︠a︡ --- Южная Корея --- Korei︠a︡ (South) --- Корея (South) --- BNSU --- БНСУ
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Edited by David T. Coe and Se-Jik Kim, this volume contains papers presented at a May 2001 conference in Seoul sponsored by the IMF and the Korea Institute for International Economic Policy on the Korean Crisis and Recovery. The papers examine the response to the 1997 crisis, its long-term impact on growth, and the state of financial and corporate sector reforms. Authors include academics, Korean policymakers, and IMF and World Bank staff involved in the Korean program.
Financial crises --- Interest rates --- Corporate reorganizations --- Labor market --- Corporate governance --- Crises financières --- Taux d'intérêt --- Entreprises --- Marché du travail --- Gouvernement d'entreprise --- Congresses --- Congrès --- Réorganisation --- -Corporate reorganizations --- -Financial crises --- -Interest rates --- -339.72 --- 336.1 <519.5> --- K9400.80 --- K9415 --- K9480 --- K9486 --- -KR / South Korea - Zuid Korea - Corée du Sud --- 331.31 --- 333.481 --- 331.33 --- -Labor market --- -Corporate governance --- -330.95195 --- Governance, Corporate --- Industrial management --- Directors of corporations --- Employees --- Market, Labor --- Supply and demand for labor --- Markets --- Corporations --- Reorganization of corporations --- Consolidation and merger of corporations --- Money market rates --- Rate of interest --- Rates, Interest --- Interest --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Business cycles --- Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt. --- Public finance, government finance in general--Zuid Korea --- Korea: Economy and industry -- history -- modern period, postwar period (1945- ) --- Korea: Economy and industry -- business methods and management --- Korea: Economy and industry -- finance industries --- Korea: Economy and industry -- finance -- banking --- Economisch beleid. --- Monetaire crisissen, hervormingen, saneringen en stabilisering. --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik. --- Supply and demand --- Reorganization --- 336.1 <519.5> Public finance, government finance in general--Zuid Korea --- 339.72 Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt. --- Crises financières --- Taux d'intérêt --- Marché du travail --- Congrès --- Réorganisation --- Congresses. --- 330.95195 --- KR / South Korea - Zuid Korea - Corée du Sud --- 339.72 --- Economisch beleid --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik --- Monetaire crisissen, hervormingen, saneringen en stabilisering --- Internationaal betalingsverkeer. Valutahandel. Wisselmarkten. Deviezenhandel. Internationale kapitaalmarkt. Flow and funds analysis. Betalingsbalans. Internationale geldmarkt --- Banks and Banking --- Financial Risk Management --- Foreign Exchange --- Investments: Bonds --- Labor --- Macroeconomics --- General Financial Markets: General (includes Measurement and Data) --- Financial Crises --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Interest Rates: Determination, Term Structure, and Effects --- Economic & financial crises & disasters --- Labour --- income economics --- Currency --- Foreign exchange --- Investment & securities --- Banking --- Monetary economics --- Exchange rates --- Corporate bonds --- Currency crises --- Financial institutions --- Corporate sector --- Economic sectors --- Bonds --- Banks and banking --- Korea, Republic of --- Income economics
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