Ferri, Giovanni; Kang, Tae Soo - In: Economic Notes 28 (1999) 2, pp. 195-221
type="main" xml:lang="en" <p>We demonstrate that the credit channel of transmission of monetary/financial shocks appears to have aggravated Korea's economic crisis. We use micro-data gathered at the individual bank level to identify this channel of transmission. Our major findings are as follows:...</p>