|
EconStor >
United Nations University (UNU) >
World Institute for Development Economics Research (UNU-WIDER), United Nations University >
WIDER Research Papers, United Nations University (UNU) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/63537
|
| | |
| Title: | | Excess credit and the South Korean crisis  |
| Authors: | | Demetriades, Panicos O. Fattouh, Bassam A. |
| Issue Date: | | 2006 |
| Series/Report no.: | | Research Paper, UNU-WIDER, United Nations University (UNU) 2006/84 |
| Abstract: | | We provide a novel empirical analysis of the South Korean credit market that reveals large volumes of excess credit since the late 1970s, indicating that a sizeable proportion of total credit was being used to refinance unprofitable projects. Our findings are consistent with theoretical literature that suggests that soft budget constraints and over-borrowing were significant factors behind the Korean financial crisis of 1997-98. |
| Subjects: | | over-borrowing South Korea financial crisis |
| JEL: | | G18 O16 |
| ISBN: | | 9291908622 |
| Document Type: | | Working Paper |
| Appears in Collections: | | WIDER Research Papers, United Nations University (UNU)
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/63537
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|