소장기록
제목Debt and Financial Instability in Korea
설명Korea is still facing an enormous challenge in its road to recovery. Most critical is the severe credit crunch. Despite substantive progress in the financial sector restructuring, credit flows are not yet normalized, largely due to increased credit risks in the corporate sector. If the current credit crunch is not resolved within a short period of time, the expected benefit from the progress in the financial sector will be not only limited but also short-lived. It is not a remote possibility that the Korean economy falls into a vicious cycle of prolonged credit crunch and economic contraction. Such adverse development, if occurs, will make the overall reform process unsustainable. History shows that this line of argument is not just theoretical possibility. Indeed, prolonged economic stagnation and the continued credit crunch experienced by the Latin American countries in the 1980s and Japan in the 1990s proves this point. In this context, swift and comprehensive corporate sector restructuring is essential for Korea's durable economic recovery. At this juncture, what matters is the speed and scope of corporate restructuring. Given the preponderance of chaebols' market share and economic influence, chaebols' debt restructuring is of particular importance.
생산자김준경 외
날짜1998-11-01
기록유형문서류
기록형태보고서/논문
주제정치경제
연관링크http://www.kdi.re.kr/research/subjects_view.jsp?pub_no=967
식별번호KC-R-00569
제목Debt and Financial Instability in Korea
설명Korea is still facing an enormous challenge in its road to recovery. Most critical is the severe credit crunch. Despite substantive progress in the financial sector restructuring, credit flows are not yet normalized, largely due to increased credit risks in the corporate sector. If the current credit crunch is not resolved within a short period of time, the expected benefit from the progress in the financial sector will be not only limited but also short-lived. It is not a remote possibility that the Korean economy falls into a vicious cycle of prolonged credit crunch and economic contraction. Such adverse development, if occurs, will make the overall reform process unsustainable. History shows that this line of argument is not just theoretical possibility. Indeed, prolonged economic stagnation and the continued credit crunch experienced by the Latin American countries in the 1980s and Japan in the 1990s proves this point. In this context, swift and comprehensive corporate sector restructuring is essential for Korea's durable economic recovery. At this juncture, what matters is the speed and scope of corporate restructuring. Given the preponderance of chaebols' market share and economic influence, chaebols' debt restructuring is of particular importance.
생산자김준경 외
날짜1998-11-01
크기 및 분량35쪽
언어영어
출처한국개발연구원
연관링크http://www.kdi.re.kr/research/subjects_view.jsp?pub_no=967
기록유형문서류
기록형태보고서/논문
대주제정치경제
소주제금융
자원유형기록
파일 78a49e34edf553e343c3467ebe5ca73e.pdf
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