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Impacts of the financial crisis on infrastructure investment in Korea(외환 금융위기가 우리 나라 인프라부문에 미친 영향 연구)

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Title Impacts of the financial crisis on infrastructure investment in Korea(외환 금융위기가 우리 나라 인프라부문에 미친 영향 연구)
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Material Type Reports
Author(English)

Kwon, Eunkyung

Publisher

Korea Research Institute for Human Settlements

Date 1999-08
Series Title; No Working Paper / 99-1
Pages 121
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Conditions
Economy < Direct Investment

Abstract

It has been estimated that the East Asian economies would have to invest between $1.2~1.5 trillion, or an equivalent of 7% of GDP in order to sustain the current and expected levels of economic growth. These massive requirements were essentially driven by region’s rapid economic expansion, which in turn caused the private sector to step in and role in financing and maintaining infrastructure services to increase because governments who in the past had funded about 90% of these investments could no longer rise to this challenge totally on their own. Unfavourably, however the recent financial crisis, emerging in the Asian economies in mid-1997, hit the most rapidly growing economies in the world. The crisis threatens to undermine much of the notable progress that has been made over the last decade by East Asia in mobilizing private investment for infrastructure. (The rest omitted)