지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
오류제보하기
This paper reviews four different kinds of currency crisis models proposed to explain the Korean crisis of 1997 to examine which model is more relevant to explain the Korean crisis of 2008. According to the author’s investigation, the ‘Frenkel-Neftci’ cycle is more relevant model to interpret the Korean crisis of 2008. In 2008, spreads opened due to, first, high interest rate policy by the Korean government aimed to suppress real estate price increase, and, second, the expectation about exchange rate appreciation, and thirdly stock market returns after recovering the crisis. Then the international capital market catastrophe due to the subprime crises produced the sudden change of expectation of the market participants. Huge capital outflows resulted from the credit crunch in the international capital markets, and the possibility of exchange rate depreciation by the Korean government to promote exports in the course of the global recession
목차
등록된 정보가 없습니다.
참고문헌 (34)
참고문헌 신청
Adrian, T. / 2008 / Liquidity and Leverage
Adrian, T. / 2008 / Liquidity, Monetary Policy and Financial Cycles / Current Issues in Economics and Finance 14 (1)
Baily, M. N / 2008 / The Origins of the Financial Crisis
Chang, R. / 1998 / Financial Crises in Emerging Markets, A Canonical Model
Chang, R. / 1998 / Financial Fragility and the Exchange Rate Regime
Adrian, T. / 2008 / Liquidity, Monetary Policy and Financial Cycles / Current Issues in Economics and Finance 14 (1)
Baily, M. N / 2008 / The Origins of the Financial Crisis
Chang, R. / 1998 / Financial Crises in Emerging Markets, A Canonical Model
Chang, R. / 1998 / Financial Fragility and the Exchange Rate Regime
이 논문의 저자 정보
최근 본 자료
댓글(0)
0