Open AccessKorea Południowa – doświadczenia dwóch kryzysów finansowych
Author(s) -
Krystyna Mitręga-Niestrój
Publication year - 2015
Publication title -
kwartalnik kolegium ekonomiczno-społecznego studia i prace
Language(s) - English
Resource type - Journals
ISSN - 2082-0976
DOI - 10.33119/kkessip.2015.4.3.5
Subject(s) - financial crisis , financial system , value (mathematics) , business , economics , economy , macroeconomics , machine learning , computer science
The article analyzes South Korean experiences of the 1997 and 2008–2009financial crises. The article describes the conditions which led to the 1997 financialcrisis and attempts to answer the question whether similar factors have takenplace in 2008. It also describes the consequences of the crises, especially for thebanking industry and on the financial market. The article also presents a shortoverview of the most important measures taken by the Korean authorities in faceof the Asian crisis. The two analyzed financial crises have some common characteristics,such as a strong decrease in the value of financial assets and the negativeconsequences in the economy. However, Korea faced the global financial crisisstrengthened thanks to the reforms of financial institutions.