The first part of this paper provides some empirical evidence on the patterns of growth in countries hit by the banking crisis. Specifically, we examine whether the banking crisis accompanies changes in medium or long term growth rates and, if so, whether the changes in growth are mainly driven...

Not only individual interest rates but spreads between long-term and short-term interest rates experienced large fluctuations during the period covering several months before and after the recent foreign exchange crisis. In June 1997 the market yields on 3- year corporate bonds and 3-month...

Using the firm-level data set, this paper attempts to examine the dynamic patterns in the allocation of credit across firms in recent Korea. Supposedly, in Korea, the economic crisis in 1997 had a significant impact on the pattern in the allocation of credit across firms. In particular, this...

This book reviews the process of education reform implemented during the years 1995 to 1997. It examines such issues as what have been goals and objectives of education reform in Korea. How has reform been initiated and implemented? What have been major difficulties and hurdles? Has reform been...

This book critically examines the detail development of labor management relations reform in Korea which occurred during 1996 to 1997. It analyses such issues as why Korea launched labor management relations reform. What were the goals and objectives of the reform? How has it been initiated and...

Unlike the typically ahistorical arguments that try to explain the 1997 economic crisis by simply dismissing even the very existence of Koreas economic success in the past, this paper has attempted to provide an alternative explanation using the concept of path dependence within a political...