EIJS Working Papers Series
Insolvency in the Corporate Sector and Financial Crisis in Korea
() and Chung H. Lee
Abstract: The paper shows that between the late 1980s and 1997, the
year when Korea was engulfed in a financial crisis, its corporate-sector
profitability was on a decreasing trend, albeit short-term ups and downs.
The evidence presented in the paper suggests that Korea’s corporate and
financial sectors had been highly vulnerable to a crisis for some years
before 1997 and the actual timing of the crisis was triggered by the
financial crisis in Thailand in July 1997 and its contagion effect.
Keywords: Asian crisis; Korean economy; corporate sector insolvency.; (follow links to similar papers)
JEL-Codes: G28; L52; O53; (follow links to similar papers)
16 pages, April 2001
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