04960oam 22012014 450 991081144950332120240410162426.01-4623-3063-01-4527-8546-51-283-51579-21-4519-0908-X9786613828248(CKB)3360000000443752(EBL)3014369(SSID)ssj0000939904(PQKBManifestationID)11592406(PQKBTitleCode)TC0000939904(PQKBWorkID)10945926(PQKB)11289523(OCoLC)698585600(IMF)WPIEE2006114(MiAaPQ)EBC3014369(EXLCZ)99336000000044375220020129d2006 uf 0engur|n|---|||||txtccrThe Korean Crisis : What Did We Know and When Did We Know It? What Stress Tests of the Corporate Sector Reveal /Meral Karasulu, Matthew Jones1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (21 p.)IMF Working Papers"May 2006."1-4518-6374-8 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THE KOREAN CORPORATE SECTOR BEFORE THE CRISIS""; ""III. STRESS TESTING THE CORPORATE SECTOR""; ""IV. CONCLUSIONS AND LESSONS FOR SURVEILLANCE""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.IMF Working Papers; Working Paper ;No. 2006/114IndustriesKoreaCorporationsKoreaFinancial crisesKoreaEconometric modelsAccountingimfCorporate FinanceimfFinance: GeneralimfForeign ExchangeimfMacroeconomicsimfCorporate Finance and Governance: GeneralimfPublic AdministrationimfPublic Sector Accounting and AuditsimfFinancial Institutions and Services: Government Policy and RegulationimfPersonal Income, Wealth, and Their DistributionsimfOwnership & organization of enterprisesimfFinancial reporting, financial statementsimfFinanceimfCurrencyimfForeign exchangeimfCorporate sectorimfFinancial statementsimfStress testingimfPersonal incomeimfExchange ratesimfBusiness enterprisesimfFinance, PublicimfFinancial risk managementimfIncomeimfKorea, Republic ofimfIndustriesCorporationsFinancial crisesEconometric models.AccountingCorporate FinanceFinance: GeneralForeign ExchangeMacroeconomicsCorporate Finance and Governance: GeneralPublic AdministrationPublic Sector Accounting and AuditsFinancial Institutions and Services: Government Policy and RegulationPersonal Income, Wealth, and Their DistributionsOwnership & organization of enterprisesFinancial reporting, financial statementsFinanceCurrencyForeign exchangeCorporate sectorFinancial statementsStress testingPersonal incomeExchange ratesBusiness enterprisesFinance, PublicFinancial risk managementIncomeKarasulu Meral1629086Jones Matthew1483932International Monetary Fund.Monetary and Financial Systems Dept.DcWaIMFBOOK9910811449503321The Korean Crisis4067107UNINA