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Record Nr. |
UNINA9910811449503321 |
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Autore |
Karasulu Meral |
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Titolo |
The Korean Crisis : : What Did We Know and When Did We Know It? What Stress Tests of the Corporate Sector Reveal / / Meral Karasulu, Matthew Jones |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-3063-0 |
1-4527-8546-5 |
1-283-51579-2 |
1-4519-0908-X |
9786613828248 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (21 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Industries - Korea |
Corporations - Korea |
Financial crises - Korea - Econometric models |
Accounting |
Business enterprises |
Corporate Finance and Governance: General |
Corporate Finance |
Corporate sector |
Currency |
Exchange rates |
Finance |
Finance, Public |
Finance: General |
Financial Institutions and Services: Government Policy and Regulation |
Financial reporting, financial statements |
Financial risk management |
Financial statements |
Foreign Exchange |
Foreign exchange |
Income |
Macroeconomics |
Ownership & organization of enterprises |
Personal income |
Personal Income, Wealth, and Their Distributions |
Public Administration |
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Public Sector Accounting and Audits |
Stress testing |
Korea, Republic of |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. THE KOREAN CORPORATE SECTOR BEFORE THE CRISIS""; ""III. STRESS TESTING THE CORPORATE SECTOR""; ""IV. CONCLUSIONS AND LESSONS FOR SURVEILLANCE"" |
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Sommario/riassunto |
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The objective of this paper is to provide a retrospective assessment of our ability to have predicted the impact of the 1997 crisis on the Korean corporate sector. We perform some simple stress tests on the aggregate balance sheets and income statements of the corporate sector to determine what could have been foreseen before the onset of the crisis. Our results show that data available in mid-1997 clearly showed that the corporate sector was very sensitive to various shocks, particularly interest rate shocks. Had stress tests been performed at the time, they would have revealed that the corporate sector was highly vulnerable to adverse economic developments. Our findings suggest that close surveillance of corporate sector balance sheets can play a useful role in understanding potential financial vulnerabilities. |
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