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 PDF Logo
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:
File Description SizeFormat
516497588.pdf120.78 kBAdobe PDF
No. of Downloads: Counter Stats
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.