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Legacy of the Asian Currency Crisis : The Case of Korea
| Content Provider | Semantic Scholar |
|---|---|
| Author | Kim, Jangryoul Lim, Gieyoung |
| Copyright Year | 2013 |
| Abstract | This paper reexamines the long run effects of the 1997 Asian crisis on the Korean economy. Using unobserved components models subject to Markov regime-switching, we address two questions: 1) whether the output losses of Korea during 1997-1998 were permanent or transitory; 2) when the trend growth rate decreased. Estimation results suggest that the trend growth rate of the Korean economy has already declined around 1992-1993 prior to the 1997 crisis, and given the transition of the Korean economy into the low-growth regime in the early 90s, the effects of the crisis are mainly transitory. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://file.scirp.org/pdf/ME_2012123117141401.pdf |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Guanosine Diphosphate Markov chain |
| Content Type | Text |
| Resource Type | Article |
