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The Republic of Korea's Economy in the Swirl of Global Crisis

Cho, D.

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Abstract

This chapter argues that the Republic of Korea is not immune to global crises, but that a more than proportional response of gross domestic product to global crises does not seem to be the general case either. It also emphasizes the differences between the current recession and the currency crisis period. The chapter discusses the prospects for the Korean economy, including the issue regarding exports vs. domestic demand and domestic savings rate. The analyses form the basis for discussing appropriate policies for Korea in the aftermath of the global financial crisis. © Oxford University Press 2012. All rights reserved.

Issue Date
2013
Publisher
Oxford University Press
Keywords
Korean economy, global crisis, policy response, recession, currency crisis, demand, saving rate
Citation
The Global Financial Crisis and Asia: Implications and Challenges, 2013
DOI
10.1093/acprof:oso/9780199660957.003.0009
Journal Title
The Global Financial Crisis and Asia: Implications and Challenges
ISSN
0000-0000
Language
English
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