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This
paper evaluates the neoliberal economic
restructuring process implemented in Korea
following the 1997 Asian financial crisis.
A detailed analysis of the macro economy,
labor markets, financial markets, and
nonfinancial firms in Korea in the past
three and one-half years shows that neoliberal
restructuring has created a vicious cycle
in which a perpetually weak financial
sector fails to provide the capital needed
for real sector growth, investment and
financial robustness, while real sector
financial fragility continuously weakens
financial firms.
December 29, 2001. |
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