The Korean financial crisis of 1997 : onset, turnaround, and thereafter / Kyu-Sung Lee.
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| Language: | English |
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Washington, D.C. :
World Bank : Korea Development Institute,
©2011.
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| Series: | World Bank e-Library.
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Table of Contents:
- Machine generated contents note: 1. The Unfolding of the Korean Financial Crisis
- 1996: A Year of Uncertainty
- The Hanbo Bankruptcy and the Degradation in External Creditworthiness, January
- March 1997
- A Monetary Lull in Financial Markets, April
- June 1997
- A Looming Crisis in Financial Markets, July
- September 1997
- Onset of the Financial Crisis and the Request for an IMF Rescue, October-November 1997
- Notes
- 2. Origin of the Crisis
- Divergent Views of the Crisis
- The Macroeconomy and the Financial Crisis
- Korea's Structural Weaknesses and Vulnerabilities
- The Risks of Capital Liberalization
- The International Financial Architecture and the Financial Crisis
- Lax Crisis Management in Korea
- Notes
- 3. Overview of Korea's Postcrisis Responses
- Crisis Recovery and Policy Challenges
- The Implementation of Postcrisis Measures
- Notes.
- 4. Initial Responses to the Crisis, December 1997
- Actions by the IMF, December 3, 1997
- Korea: Memorandum on the Economic Program
- Actions Prior to the IMF Standby Arrangement
- Banking Reforms
- Averting National Insolvency
- Notes
- 5. Securing Foreign Currency Liquidity and Laying the Groundwork for Reform and Restructuring, December 1997
- April 1998
- Securing Foreign Currency Liquidity
- Capital Market Liberalization and the Expansion of Foreign Investment
- Laying the Groundwork for Structural Reform
- The Intensifying Credit Crunch and Mounting Unemployment
- Notes
- 6. Restructuring Led by Business Closures and the Push for Lower Interest Rates, May-June 1998
- The Recognition of Economic Reality
- The Focus of Corporate and Financial Restructuring on the Closure of Failing Businesses
- Lowering Interest Rates and Easing the Credit Crunch
- The Contracting Real Economy and Deepening Labor Unrest
- Notes.
- 7. Completion of First-Phase Restructuring and Policies Aimed at Boosting Potential Growth, July-September 1998
- Economic Outlook and Policy Challenges, Second Half of 1998
- The Completion of the First Round of Restructuring
- Expanded Unemployment Measures and Labor Union Resistance to Restructuring
- The Russian Moratorium and the Fate of the Won
- Policies for Robust Growth
- Notes
- 8. Getting the Economy Back on Track and Quickening the Pace of Restructuring, October
- December 1998
- Policy Challenges and the Shifting Economic Landscape
- Instability in International Financial Markets and the Government Response
- Quickening the Pace of Restructuring
- Policies Aimed at Economic Revival
- 9. Restoring Financial Stability and Realizing Positive Economic Growth, January-June 1999
- The Economic Policy Agenda for 1999
- Forging Ahead with Restructuring
- The Investment Grade Rating and the Supply of Foreign Exchange to Markets
- Restoring Calm to Financial Markets and Resuming Positive Growth.
- 10. The Settlement of the Daewoo Shock and the Expanded Economic Recovery, July-December 1999
- Policy Challenges and Responses during the Second Half of 1999
- Strategies for the Transition to a Knowledge-Based Economy
- The Collapse of the Daewoo Group and Restoring Calm to Financial Markets
- Pressing Ahead with Structural Reform
- Economic Hardship among Low- and Middle-Income Households and the Government Response
- Accelerating Economic Recovery and the Transition to Net Creditor Status
- 11. Korea's Economic Renewal: Challenges and Solutions for the Transition to the Next Level
- Questions about the Korean Economy
- Diagnosis of the Korean Economy
- The Challenges Ahead in Korea's Economic Revival
- The Reform of Korea's Economic System
- Note.