Knowledge of how South Korean firms choose their capital structures has particular value due to the country's specific corporate structure and the role of leverage in the evolution of its financial crisis of 1997. Using a large panel for the years 1992-2001 we investigate the evolution and...

A large body of econometric studies in the past two decades has yielded considerable knowledge of the connection between financial development and economic growth, as experienced by a wide range of countries. A consensus view that financial development positively conditions or promotes economic...