05159oam 22012854 450 991096463510332120250426110900.097866138282489781462330638146233063097814527854621452785465978128351579512835157929781451909081145190908X(CKB)3360000000443752(EBL)3014369(SSID)ssj0000939904(PQKBManifestationID)11592406(PQKBTitleCode)TC0000939904(PQKBWorkID)10945926(PQKB)11289523(OCoLC)698585600(IMF)WPIEE2006114(MiAaPQ)EBC3014369(IMF)WPIEA2006114WPIEA2006114(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."9781451863741 1451863748 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 modelsAccountingimfBusiness enterprisesimfCorporate Finance and Governance: GeneralimfCorporate FinanceimfCorporate sectorimfCurrencyimfExchange ratesimfFinanceimfFinance, PublicimfFinance: GeneralimfFinancial Institutions and Services: Government Policy and RegulationimfFinancial reporting, financial statementsimfFinancial risk managementimfFinancial statementsimfForeign ExchangeimfForeign exchangeimfIncomeimfMacroeconomicsimfOwnership & organization of enterprisesimfPersonal incomeimfPersonal Income, Wealth, and Their DistributionsimfPublic AdministrationimfPublic Sector Accounting and AuditsimfStress testingimfKorea, Republic ofimfIndustriesCorporationsFinancial crisesEconometric models.AccountingBusiness enterprisesCorporate Finance and Governance: GeneralCorporate FinanceCorporate sectorCurrencyExchange ratesFinanceFinance, PublicFinance: GeneralFinancial Institutions and Services: Government Policy and RegulationFinancial reporting, financial statementsFinancial risk managementFinancial statementsForeign ExchangeForeign exchangeIncomeMacroeconomicsOwnership & organization of enterprisesPersonal incomePersonal Income, Wealth, and Their DistributionsPublic AdministrationPublic Sector Accounting and AuditsStress testingKarasulu Meral1815871Jones Matthew1483932International Monetary Fund.Monetary and Financial Systems Dept.DcWaIMFBOOK9910964635103321The Korean Crisis4372420UNINA