Causes of the Korean Financial Crisis: Lessons for Policy

79 Pages Posted: 30 Mar 2000 Last revised: 1 Apr 2001

See all articles by Joon-Ho Hahm

Joon-Ho Hahm

Korea Development Institute (KDI)

Frederic S. Mishkin

Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)

Date Written: January 2000

Abstract

This paper uses an asymmetric information framework to understand the causes of the recent financial crisis in Korea. It shows that the Korean data is consistent with this explanation of the crisis. It then draws on this analysis to discuss several lessons that can help guide Korean policymakers in the future.

Suggested Citation

Hahm, Joon-Ho and Mishkin, Frederic S., Causes of the Korean Financial Crisis: Lessons for Policy (January 2000). NBER Working Paper No. w7483, Available at SSRN: https://ssrn.com/abstract=211229

Joon-Ho Hahm (Contact Author)

Korea Development Institute (KDI) ( email )

263 Namsejong-ro
Sejong-si 30149
Korea, Republic of (South Korea)

Frederic S. Mishkin

Columbia Business School - Finance and Economics ( email )

3022 Broadway
New York, NY 10027
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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