Showing 1 - 10 of 105
This paper investigates the impact on bank stock prices of emerging market currency crises and bailouts. The stock market distinguishes between banks with exposure to a crisis country and other banks. In general, banks with exposures to a crisis country are affected adversely by currency events...
Persistent link: https://www.econbiz.de/10012471245
This paper uses an asymmetric information framework to understand the causes of the recent financial crisis in Korea …
Persistent link: https://www.econbiz.de/10012471293
We show that increased uncertainty about the size of an emerging market's external debt has a nonlinear and potentially large adverse effect on the supply of international credit offered to them. We also show that if international creditors are first- order risk averse, attaching greater weight...
Persistent link: https://www.econbiz.de/10012471396
It is commonly argued that Japanese trade protection has enabled the nurturing and development internationally 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...
Persistent link: https://www.econbiz.de/10012471526
of foreign investors to supply international credits. We illustrate the relevance of this concern for South Korea during … the recent financial crisis. Using available information about Korea's reserves at the onset of the crisis, we show that …
Persistent link: https://www.econbiz.de/10012471586
factors to the role of capital flows in the currency crises in different countries, especially Thailand, Indonesia, and Korea …
Persistent link: https://www.econbiz.de/10012471660
Korea by offshore funds with that of their onshore counterparts registered in the United States and the United Kingdom …
Persistent link: https://www.econbiz.de/10012471661
Different categories of foreign portfolio investors in Korea have differences as well as similarities in their trading …
Persistent link: https://www.econbiz.de/10012471839
This paper develops and estimates an industry equilibrium model of manufacturing plants in the Korean electric motor industry from 1991 to 1996. Plant-level decisions on R&D, physical capital investment, entry, and exit are integrated in a dynamic setting with knowledge spillovers. We use a...
Persistent link: https://www.econbiz.de/10012938702
Does industrial policy work? This is a subject of long-standing debates among economists and policymakers. Using newly digitized microdata, we evaluate the Korean government's policy that promoted heavy and chemical industries between 1973 and 1979 by cutting taxes and building new industrial...
Persistent link: https://www.econbiz.de/10012629472