Should business groups be blamed for the Asian financial crisis? Evidence from South Korea

Song Kim

Asia Pacific Business Review, 2003, vol. 9, issue 3, 1-20

Abstract: This article reconsiders the problem of over-expansion of which many business groups in South Korea and other Asian countries have constantly been accused and concludes that their over-expansion had no direct bearing on the recent crisis. If these business groups have problems, they are, for example, poor management, weak governance and deficient accountability rather than over-expansion. In this regard the reformminded government is justified in taking restrictive measures against the big groups to deal with such problems. Nonetheless, it is suggested that the government would be ill-advised to seek the ultimate dissolution of such groups.

Date: 2003
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DOI: 10.1080/13602380312331288600

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