Financial Crisis and Credit Crunch in Korea: Evidence From Firm-Level Data
This paper analyzes the credit crunch following the recent financial crisis in Korea. Using enterprise-level data, we find that there were big differences in the magnitude of the credit contraction across different types of firms. In particular, chaebol (conglomerate)-affiliated firms appeared to ha...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2000
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Schriftenreihe: | IMF Working Papers
Working Paper No. 00/25 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper analyzes the credit crunch following the recent financial crisis in Korea. Using enterprise-level data, we find that there were big differences in the magnitude of the credit contraction across different types of firms. In particular, chaebol (conglomerate)-affiliated firms appeared to have lost the preferential access to credit they enjoyed in the pre-crisis period, and credit appears to have been reallocated in favor of more efficient firms. This suggests that the credit crunch suffered by certain sectors can be attributed to the adjustment by banks and enterprises to the restructuring of the financial sector, rather than to tight monetary policy or an external credit constraint |
Beschreibung: | 1 Online-Ressource (28 p) |
ISBN: | 1451844255 9781451844252 |
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spelling | Lee, Jong-Wha Verfasser aut Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data Lee, Jong-Wha Washington, D.C International Monetary Fund 2000 1 Online-Ressource (28 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 00/25 This paper analyzes the credit crunch following the recent financial crisis in Korea. Using enterprise-level data, we find that there were big differences in the magnitude of the credit contraction across different types of firms. In particular, chaebol (conglomerate)-affiliated firms appeared to have lost the preferential access to credit they enjoyed in the pre-crisis period, and credit appears to have been reallocated in favor of more efficient firms. This suggests that the credit crunch suffered by certain sectors can be attributed to the adjustment by banks and enterprises to the restructuring of the financial sector, rather than to tight monetary policy or an external credit constraint Online-Ausg Borensztein, Eduardo Sonstige oth http://elibrary.imf.org/view/IMF001/02326-9781451844252/02326-9781451844252/02326-9781451844252.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Lee, Jong-Wha Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data |
title | Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data |
title_auth | Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data |
title_exact_search | Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data |
title_exact_search_txtP | Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data |
title_full | Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data Lee, Jong-Wha |
title_fullStr | Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data Lee, Jong-Wha |
title_full_unstemmed | Financial Crisis and Credit Crunch in Korea Evidence From Firm-Level Data Lee, Jong-Wha |
title_short | Financial Crisis and Credit Crunch in Korea |
title_sort | financial crisis and credit crunch in korea evidence from firm level data |
title_sub | Evidence From Firm-Level Data |
url | http://elibrary.imf.org/view/IMF001/02326-9781451844252/02326-9781451844252/02326-9781451844252.xml |
work_keys_str_mv | AT leejongwha financialcrisisandcreditcrunchinkoreaevidencefromfirmleveldata AT borenszteineduardo financialcrisisandcreditcrunchinkoreaevidencefromfirmleveldata |