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Author/Editor:
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He, Dong
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Publication Date:
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September 01, 2004
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Electronic Access:
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Free Full text
(PDF file size is 316KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper aims to provide a balanced assessment of Korea Asset Management Corporation's role in resolving nonperforming loans in the aftermath of the 1997-98 financial crisis. It argues that KAMCO's incentive to dispose of NPLs can be explained by a strong social desire for a recovery of public funds injected for financial sector restructuring. KAMCO's market-making role also helped overcome informational and coordination problems in the development of a market for distressed assets.
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Series:
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Working Paper No. 04/172
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Subject(s):
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Asset management | Korea, Republic of | Bank restructuring | Republic of Korea
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Author's Keyword(s):
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Asset Management companies | bank restructuring |
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