TITLE

THE ASIAN FINANCIAL CRISIS OF 1997: The CASE OF KOREA

AUTHOR(S)
Kim, Suk H.
PUB. DATE
March 2001
SOURCE
Multinational Business Review (St. Louis University);Spring2001, Vol. 9 Issue 1, p50
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
For three decades, Korea was held up as an economic icon. The country's typical blend of high savings and investment rates, autocratic political systems, export-oriented businesses, restricted domestic markets, government capital allocation, and controlled financial systems were hailed as ideal ingredients for the strong economic growth of developing countries (Shapiro, 1999). However, in July 1997, a currency turmoil erupted in Thailand, spreading to Korea and other countries. This article investigates a number of practical issues about the Korean crisis of 1997--interlinked economies, the causes of the crisis, and policy responses.
ACCESSION #
4128099

 

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