The Korean Economy at the Crossroads: Triumphs, Difficulties and Triumphs Again (Routledgecurzon Studies in the Growth Economies of Asia, 48)

For many years up until 1997, Korea was widely seen in economic and financial circles as something of a miracle. The financial crisis that Korea experienced then did much to set its economy back, but by 2001 it was still the 13th largest economy in terms of GDP in the world. This enticing collection, with contributions from experts with an impressive knowledge of Korea and its economy, charts not only the well documented causes of the crisis, but more importantly, its response and recovery from it. With an admirable scholarly rigour, the book covers such topics as: *the origin and evolution of the Korean economic system and its special factors including chaebols *Korean industries since the crisis *What happened to the money after the capital flight of the crisis and did the USA benefit? "The Korean Economy at the" "Crossroads" is intended and recommended not only for students and academics involved in international finance, economics and Asian studies, but also for the business leaders and policy makers who can draw lessons from the books important analyses The Korean Economy: Triumphs, Difficulties, And Triumphs Again? / Moonjoong Tcha, Minsoo Lee And Chung-sok Suh -- The Asian Financial Crisis: Genesis And Exegesis / John Hawkins -- The Origin And Evolution Of The Korean Economic System / Wonhyuk Lim -- A 'stroke' Hypothesis Of Korea's 1997 Financial Crisis / Hyun-hoon Lee -- The Restructuring Of The Korean Economy Since 1986 And The Onset Of The Financial Crisis: The Industrial/financial Nexus / John Mckay -- The Impact Of Ownership And Capital Structure On The Productivity Performance Of Korean Firms In The 1990s / Euysung Kim -- Financial Reporting Of Selected Korean Listed Companies: Disclosure Practices / Youngok Kim -- The Chaebol And Korean Capitalism: The Hyundai Business Group / Seung-ho Kwon And Chung-sok Suh -- Real Exchange Rate And Inward Fdi In Crisis-ridden Korea / Jung-soo Seo -- The Financial System In Korea After The 1997 Financial Crisis: A Legal Perspective / Sunseop Jung -- Dynamic Prospects For Korean Banks' Monitoring Of Business Groups / Byung S. Min -- The Korean Steel Industry After The Economic Crisis: Challenges And Opportunities / Kwang Soo Park And Moonjoong Tcha -- Restructuring Of The Public Enterprise After The Crisis: The Case Of Deposit Insurance Fund / Sang-moon Hahm -- The Rise And Fall Of Real Estate Trust Institutions In Korea / Jinu Kim, Sang-young Lee And Denny Mcgeorge -- Asia Crisis Postmortem: Where Did The Money Go And Did The United States Benefit? / Eric Van Wincoop And Kei-mu Yi -- Interpreting Some Empirical Facts Of Business Cycles And Stock Returns In Korea / David Deok-ki Kim -- The Role Of Fdi In The Recovery Of The Financial Crisis In Korea: The Bilateral Economic Relationship Between Korea And Australia Under Apec / Hyung-min Kim -- Korea's Fta Policy: Background And Current Progress / Inkyo Cheong. Edited By Moonjoong Tcha And Chung-sok Suh. Includes Bibliographical References And Index. Book Cover......Page 1 Title......Page 6 Copyright......Page 7 Contents......Page 10 List of figures......Page 12 List of tables......Page 14 List of contributors......Page 17 Foreword......Page 19 Acknowledgements......Page 21 1 The Korean economy: triumphs, difficulties, and triumphs again?......Page 22 2 The Asian financial crisis: genesis and exegesis......Page 40 3 The origin and evolution of the Korean economic system......Page 62 4 A ‘stroke’ hypothesis of Korea’s 1997 financial crisis......Page 74 5 The restructuring of the Korean economy since 1986 and the onset of the financial crisis......Page 90 6 The impact of ownership and capital structure on the productivity performance of Korean firms in the 1990s......Page 105 7 Financial reporting of selected Korean listed companies: disclosure practices......Page 124 8 The chaebol and Korean capitalism: the Hyundai business group......Page 148 9 Real exchange rate and inward FDI in crisis-ridden Korea......Page 174 10 The financial system in Korea after the 1997......Page 186 11 Dynamic prospects for Korean banks’ monitoring of business groups......Page 208 12 The Korean steel industry after the economic crisis......Page 221 13 Restructuring of the public enterprise after the crisis: the case of deposit insurance fund......Page 236 14 The rise and fall of real estate trust institutions in Korea......Page 254 15 Asia crisis postmortem: where did the money go and did the United States benefit?......Page 268 16 Interpreting some empirical facts of business cycles and stock returns in Korea......Page 298 17 The role of FDI in the recovery of the financial crisis in Korea: the bilateral economic relationship between Korea and Australia under APEC......Page 312 18 Korea’s FTA policy: background and current progress......Page 333 Index......Page 348 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?