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South Korea's experience is unparalleled in its combination of sustained prosperity, capital controls, and financial crisis. Over several decades, South Korea experienced rapid sustained growth in the presence of capital controls. These controls and the de-linking of domestic and international...
Persistent link: https://www.econbiz.de/10012467302
. The fact that Korea and Thailand recovered in parallel has been interpreted as suggesting that capital controls did not … summer of 1998, while it had significantly eased up in Korea and Thailand. We employ a time-shifted differences …
Persistent link: https://www.econbiz.de/10012470587
, Colombia and Mexico -- and three East Asian countries--Korea, Malaysia and Thailand. It identifies a number of potential …
Persistent link: https://www.econbiz.de/10012473042
This paper uses new firm level data from five East Asian countries to explore the patterns of manufacturing productivity across the region. One of the striking patterns that emerges is how the extent of openness and the competitiveness of markets affects the relative productivity of firms across...
Persistent link: https://www.econbiz.de/10012469820
Japan, an isolated, backward country in the 1860s, industrialized rapidly to become a major industrial power by the …
Persistent link: https://www.econbiz.de/10012453866
prices of East Asian economies including China, Japan, Hong Kong, South Korea, and Taiwan. We find significant and positive …
Persistent link: https://www.econbiz.de/10012458956
This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The stylized pattern from the previous 160 currency crisis episodes over the period from 1970 to 1995 shows a V-type adjustment of real GDP growth in the years prior to and...
Persistent link: https://www.econbiz.de/10012470347
Models of financial crises based on distortions in capital markets have strong implications for the behavior of investors leading up to crises. In this paper we evaluate the hypothesis that deregulation of financial markets in Korea provided the incentives and opportunities for a sequence of...
Persistent link: https://www.econbiz.de/10012470739
This paper presents an alternative method of testing for financial capital mobility in the absence of forward exchange markets. A model of domestic interest rate determination during liberalization is applied to Korean and Taiwanese data. A variety of diagnostic and recursive tests are used to...
Persistent link: https://www.econbiz.de/10012473014
competitive firms. The results in our paper suggest that when it comes to TFP growth, this view of Japan is seriously erroneous …. We find that lower tariffs and higher import volumes would have been particularly beneficial for Japan during the period … productivity growth. Our findings on Japan suggest that the salutary impact of imports stems more from their contribution to …
Persistent link: https://www.econbiz.de/10012471526