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The Korean Financial System, Overcoming the Global Financial Crisis and Addressing Remaining Problems, Masahiko Tsutsumi, Randall S. Jones and Thomas F. Cargill = Le système financier coréen : Surmonter la crise financière mondiale et régler les problèmes qui subsistent / Masahiko Tsutsumi, Randall S. Jones et Thomas F. Cargill

Label
The Korean Financial System, Overcoming the Global Financial Crisis and Addressing Remaining Problems, Masahiko Tsutsumi, Randall S. Jones and Thomas F. Cargill = Le système financier coréen : Surmonter la crise financière mondiale et régler les problèmes qui subsistent / Masahiko Tsutsumi, Randall S. Jones et Thomas F. Cargill
Language
eng
Abstract
The intensification of the global financial crisis in late 2008 led to large capital outflows from Korea and turmoil in its capital markets. However, the prompt response by the government and the central bank stabilised Korea’s financial sector in early 2009 and recovery followed relatively quickly. In contrast to 1997, financial institutions have overcome the crisis without significant damage. Increased assistance for small and medium-sized enterprises has played a large role in overcoming the crisis, but should be scaled back to avoid supporting non-viable firms and to expand banks’ capacity for risk appraisal, leading to a more market-oriented financial system. As a small open economy, Korea also needs to reduce its vulnerability to sudden capital outflows. In addition, it is important to use prudential regulations effectively to limit the risk of mortgage lending, upgrade the corporate governance of financial institutions and develop securitisation by ensuring transparency
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
The Korean Financial System
Medium
electronic resource:
Nature of contents
dictionaries
Responsibility statement
Masahiko Tsutsumi, Randall S. Jones and Thomas F. Cargill = Le système financier coréen : Surmonter la crise financière mondiale et régler les problèmes qui subsistent / Masahiko Tsutsumi, Randall S. Jones et Thomas F. Cargill
Series statement
OECD Economics Department Working Papers,, no.796, 18151973
Sub title
Overcoming the Global Financial Crisis and Addressing Remaining Problems
resource.variantTitle
Le système financier coréen, Surmonter la crise financière mondiale et régler les problèmes qui subsistent
Classification