소장기록
제목Currency Crisis of Korea : Internal Weakness or External Interdependence?
설명This paper examines the currency crisis of Korea --- a key country of the Asian Crisis as well as the Asian Miracle --- in the context of this swirl of the international capital market. In particular, this paper tries to quantitatively distinguish the effects of weaknesses in domestic fundamentals from the effects of external interdependence (called contagion effects in this paper). The following three conclusions summarize this papers analyses. First, the outbreak of the Korean crisis may not be completely attributable to the contagion effects alone, although the crises of other countries substantially worsened the situation. Second, Koreas fundamentals prior to the crisis were not so strong that economists must have been astonished with the outbreak of the crisis of Korea, although they were not distinctively weak for investors to be able to anticipate the forthcoming crisis. Third, if one considered the structural vulnerability of Koreas financial market in addition to the conventional macro-fundamentals, and if one could have foreseen the stubborn policies of the government to cope with financial turmoil, the Korean crisis might have been easier to anticipate.
생산자조동철 외
날짜1999-11-01
기록유형문서류
기록형태보고서/논문
주제정치경제
연관링크http://www.kdi.re.kr/research/subjects_view.jsp?pub_no=983
식별번호KC-R-00510
제목Currency Crisis of Korea : Internal Weakness or External Interdependence?
설명This paper examines the currency crisis of Korea --- a key country of the Asian Crisis as well as the Asian Miracle --- in the context of this swirl of the international capital market. In particular, this paper tries to quantitatively distinguish the effects of weaknesses in domestic fundamentals from the effects of external interdependence (called contagion effects in this paper). The following three conclusions summarize this papers analyses. First, the outbreak of the Korean crisis may not be completely attributable to the contagion effects alone, although the crises of other countries substantially worsened the situation. Second, Koreas fundamentals prior to the crisis were not so strong that economists must have been astonished with the outbreak of the crisis of Korea, although they were not distinctively weak for investors to be able to anticipate the forthcoming crisis. Third, if one considered the structural vulnerability of Koreas financial market in addition to the conventional macro-fundamentals, and if one could have foreseen the stubborn policies of the government to cope with financial turmoil, the Korean crisis might have been easier to anticipate.
생산자조동철 외
날짜1999-11-01
크기 및 분량58쪽
언어영어
출처한국개발연구원
연관링크http://www.kdi.re.kr/research/subjects_view.jsp?pub_no=983
기록유형문서류
기록형태보고서/논문
대주제정치경제
소주제금융
자원유형기록
파일 8b029e532aca88b77fbb67e099fe9783.pdf
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