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The effect of the Asian financial crisis on the performance of Korean nationwide banks

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  • The effect of the Asian financial crisis on the performance of Korean nationwide banks
  • Jeon, Yongil; Miller, Stephen M.
  • University of Connecticut


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Title The effect of the Asian financial crisis on the performance of Korean nationwide banks
Similar Titles
Material Type Reports
Author(English)

Jeon, Yongil; Miller, Stephen M.

Publisher

Storrs:University of Connecticut

Date 2002-05
Series Title; No Economics Working Papers / 2002-32
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Economy < Economic Administration
Holding University of Connecticut

Abstract

The Asian financial crisis spread its effect quickly across a number of countries. Korea faced serious problems in her financial and corporate sectors. This paper considers the performance of Korean nationwide banks before, during, and immediately after the Asian financial crisis. The performance of Korean nationwide banks took a big hit in 1998. Most banks recovered somewhat in 1999 with the notable exception of the further deterioration of Seoul. Several factors possess strong correlations with bank performance. Among other standard findings, equity to assets correlates positively with bank performance, even when the government recapitalized a number of institutions that performed poorly. The Asian crisis did not affect the normal rules of good bank management. The government, however, directly intervened in the banking sector on a large scale to limit the scope of the crisis in the Korean economy.