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Restructuring FDI policy in emerging economies: The republic of Korea case
Author(s) -
Stoever William A.
Publication year - 2005
Publication title -
thunderbird international business review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.553
H-Index - 37
eISSN - 1520-6874
pISSN - 1096-4762
DOI - 10.1002/tie.20067
Subject(s) - restructuring , attractiveness , foreign direct investment , financial crisis , economics , macro , equity (law) , schema (genetic algorithms) , economic system , business , economic policy , international economics , political science , macroeconomics , finance , psychology , machine learning , computer science , psychoanalysis , law , programming language
This article presents several frameworks for examining the effect of a national financial crisis as a stimulus for economic reform and applies them to the Korean case 1997–2001. The author lists significant dimensions of reform and restructuring, presents a schema showing macro reform measures and some possible micro ramifications regarding a country's policies toward incoming foreign direct investment, and extends the schema to the concept of a trade‐off between macro and micro determinants of a country's attractiveness to foreign direct investment. There is also a chart highlighting the extent of government allowance of foreign equity participation. The author uses all these concepts to analyze the Republic of Korea's response to the financial crisis of 1997–1999. © 2005 Wiley Periodicals, Inc.