In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However, after capital globalization, shocks spread to markets almost immediately. Despite the increasing macroeconomic dangers that the...

Schneller als vielfach erwartet findet die Weltwirtschaft den Weg aus der großen Krise. Dabei erweisen sich die asiatischen Staaten als besonders dynamisch. Amerika will durch eine Steigerung seiner Exporte Anschluss halten. Nach dem Scheitern der Doha-Runde stellt sich die Frage, ob bilaterale...

This paper attempts at characterising South Korean monetary policy in the period of explicit inflation targeting started in 1999. We explain Korean interest rates in relation to an estimated macro-model, assuming that monetary policy is set optimally. This allows us to obtain the central...

This paper gives an account of the financial crisis that took place in Korea from the point of view of the Korean population using survey data collected in 1998 and 1999. Although both, internal and external factors were blamed as causes, domestic factors were considered to be of greater...

This paper presents an heuristics of economic action in South Korea which is based on a qualitative study conducted on-site. It focuses on the idea of experience-near concepts - as introduced by Clifford Geertz - and is verbalised by the terms affiliation, indebtedness and mediation. The...

We provide a novel empirical analysis of the South Korean credit market that reveals large volumes of excess credit since the late 1970s, indicating that a sizeable proportion of total credit was being used to refinance unprofitable projects. Our findings are consistent with theoretical...

South Korea's rising status in regional and global affairs has received much attention in recent years. But in academic, media and policy debates South Korea is usually regarded as a mere middle power that, due to its geopolitical situation, has only limited leeway in its foreign policy....

Based upon the sample of 419 MNCs' subsidiaries in Korea, we examined the country of origin effect in the choice of MNCs' HRM strategy: transplantation, localization, and mixed. A multinominal logit regression analysis showed that there is an important country of origin effect in the choice...