In this book Youngil Lim explores the process by which the poverty-stricken agrarian economy of South Korea was transformed over the past three decades into a semi-industrial urban economy. The chief questions Lim addresses are: Where did South Korea's technological knowledge come from? What did...

Traditional models of the choice of exchange rate regimes ignore the destabilizing effects of sharp and unanticipated exchange rate movements. Recent research, however, has shown that these movements have real costs in emerging markets owing to the dollarization of liabilities. This paper...

In the financial crisis literature, it is usually argued that, contrary to the case of currency crises, building a time series index to identify banking crisis episodes is highly difficult, particularly because of the lack of reliable data on banking sector variables (non-performing loans,...

This paper utilizes Vector Auto Regression (VAR) models to analyze the interdependence among exchange rates of twelve Asian-Pacific nations, Australia, China, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Singapore, Taiwan, Thailand, and Vietnam. The daily data span from...

Using data from publicly traded South Korean corporations for the period 1980-94, this paper finds evidence that increases in financial liberalization that accompanied the more general process of financial globalization have significantly reduced the maturity structure of corporate debt...

This Paper considers monetary and exchange rate policy in Korea since the financial crisis of 1997-98. The Bank of Korea has adopted much of the apparatus of inflation targeting, with a band for target inflation and a Monetary Policy Report to the National Assembly. This regime has served the...

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...

The economic growth of a country depends more and more on its capacity to innovate. Japan, South Korea and the P. R. of China acquire an increasing importance in the global location competition besides some smaller Asian threshold economies. Other countries such as India make also an effort to...

Nos encontramos en un momento donde el avance científico-tecnológico ha realizado cambios, tanto económicos como sociales, políticos einternacionales. En el ámbito social estos cambios pueden observarse en el cada vezmás importante peso del sector terciario por sobre el industrial; la...