The End of the South Korean Miracle

Haider Khan ()

Chapter 4 in Global Markets and Financial Crises in Asia, 2004, pp 60-75 from Palgrave Macmillan

Abstract: Abstract Over a two-month period from October 1997 to December 1997 South Korea was reduced from being the eleventh largest economy in the world to one that had to go cap in hand to the international financial institutions in order to survive. This sudden shift took even the IMF by surprise. As late as October 1997 the IMF mission visiting Seoul had given South Korea a clean bill of economic and financial health. So what went wrong?

Keywords: Real Exchange Rate; Trade Credit; External Debt; Current Account Deficit; Korean Economy (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-00079-7_4

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DOI: 10.1057/9780230000797_4

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