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