Causes of the Korean Financial Crisis: Lessons for Policy
Joon-Ho Hahm, Frederic S. Mishkin
NBER Working Paper No. 7483
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.
Published: Shin, Inseok (ed.) The Korean Crisis, Before and After. Seoul: Korean Development Institute, 2000.