The 1997 financial crisis turns out to be a major turning point in the history of Korean chaebols. The post-crisis corporate reform has resulted in a dramatic change in the landscape of chaebols as about one half of the top 30 chaebols changed their names after the crisis. The reform was swift...

The objective of this study is two-fold: first, to conceptualize key causal relationships between housing price cycle and mortgage credit cycle based on relevant literature and, second, to present cases of two countries - Korea and the U.S. - in terms of evolution of, and recent milestone events...

This study aims to explain causal relationships between the two dramatic cycles observed in the U.S. during the recent financial crisis - the mortgage credit cycle and the home price cycle. In the viewpoint of mortgage lending, the main demand-side driver for the observed credit concentration...

The purpose of this study is to identify and analyze the impact of the Intergovernmental transfer (Balance Fund) and Local Own Revenue to the local government expenditure as well as to know the occurrence of flypaper effect phenomenon in the relationship between those variables. This study is...