Lee, Sanghack; Cheong, Kiwoong - In: Journal of Developing Areas 43 (2010) 2, pp. 221-232
The high indebtedness of Korean firms is viewed as one of major causes for the financial (currency) crisis of Korea in 1997. This paper examines empirically the political economy underlying the financial structure of Korean firms. Specifically, this paper estimates the size of rents generated in...