The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform
Electronic Access:
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Summary:
After years of strong performance, Korea’s economy entered a crisis in 1997, owing largely to structural problems in its financial and corporate sectors. These problems emerged in the second half of that year, when the capital inflows that had helped finance Korea’s growth were reversed, as foreign investors—reeling from losses in other Southeast Asian economies—decided to reduce their exposure to Korea. This paper focuses on the sources of the crisis that originated in the financial sector, the measures taken to deal with it, and the evolution of key banking and financial variables in its aftermath.
Series:
Working Paper No. 1999/028
Subject:
Bank credit Banking Commercial banks Credit Financial institutions Loans Money Nonperforming loans
English
Publication Date:
March 1, 1999
ISBN/ISSN:
9781451844641/1018-5941
Stock No:
WPIEA0281999
Pages:
66
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