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This paper seeks to draw policy implications from Korea’s five years of experience in financial and corporate restructuring. Immediately after the outbreak of the crisis, a series of restructuring policies were implemented, and they were revised as needed in response to changes in market conditions. Some restructuring policies were successful; other failed due to poor timing or inadequate scope or degree. This paper reviews as many of the policy instruments that were adopted for restructuring as possible, and it attempts to assess their effectiveness in resolving the restructuring problems that became apparent at various stages of the overall restructuring effort.
Several problems and errors in the Korean restructuring program are pointed out. These are (1) Hidden financial liabilities that prolonged and increased the total costs of restructuring, (2) Inability to complete software restructuring in a short period of time. (The rest omitted)
Korea's financial and corporate restructuring : Five-year experience, lessons and tasks
| Title |
Korea's financial and corporate restructuring
Similar Titles
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|---|---|
| Sub Title | Five-year experience, lessons and tasks |
| Material Type | Reports |
| Author(English) |
Sohn, Sangho |
| Publisher |
Korea Institute of Finance |
| Date | 2003-12 |
| Series Title; No | Finance Research Paper / 2003-08 |
| Pages | 166 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Documents |
| Original Format | |
| Subject | Economy < General Economy < Economic System |
| Holding | Korea Institute of Finance |
| License |  |
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