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Causes of the Korean financial crisis : Lessons for policy

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  • Causes of the Korean financial crisis
  • Hahm, Joon-Ho Hahm; Mishkin, Frederic S.
  • National Bureau of Economic Research


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Title Causes of the Korean financial crisis
Similar Titles
Sub Title

Lessons for policy

Material Type Reports
Author(English)

Hahm, Joon-Ho Hahm; Mishkin, Frederic S.

Publisher

Cambridge:National Bureau of Economic Research

Date 2000-01
Series Title; No NBER Working paper series / 7483
Pages 79
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Macroeconomics
Economy < Financial Policy
Holding National Bureau of Economic Research

Abstract

This paper uses and asymmetric information framework to understand the causes of the recent financial crisis in Korea. It shows that the Korean data is consistent with this explanation of the crisis. It then draws on this analysis to discuss several lessons that can help guide Korean policymakers in the future.

User Note

This paper is a part of the research program supported by the Korea Foundation, and prepared for presentation at the KDI international conference, "The Korean Crisis: Before and After," held in Seoul, Korea on October 15, 1999. The authors are grateful to Hong-Kyu Park for his excellent research assistance and to Charles Himmelberg and the participants at the Finance lunch seminar at the Graduate School of Business, Columbia University for their helpful comments. Any opinions expressed in this paper are those of the authors and not those of the Korea Development Institute, Columbia University, or the National Bureau of Economic Research.