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Financial Crisis and Credit Crunch in Korea: Evidence From Firm-Level Data

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Cited by:

  1. Alessandro Girardi & Marco Ventura, 2021. "Measuring credit crunch in Italy: evidence from a survey-based indicator," Annals of Operations Research, Springer, vol. 299(1), pages 567-592, April.
  2. Bhaumik, Sumon Kumar & Das, Pranab Kumar & Kumbhakar, Subal C., 2012. "A stochastic frontier approach to modelling financial constraints in firms: An application to India," Journal of Banking & Finance, Elsevier, vol. 36(5), pages 1311-1319.
  3. Hui Tong & Shang-Jin Wei, 2008. "Real Effects of the Subprime Mortgage Crisis: Is it a Demand or a Finance Shock?," NBER Working Papers 14205, National Bureau of Economic Research, Inc.
  4. Horst Rottmann & Timo Wollmershäuser, 2013. "A micro data approach to the identification of credit crunches," Applied Economics, Taylor & Francis Journals, vol. 45(17), pages 2423-2441, June.
  5. Junghwan Hyun & Raoul Minetti, 2019. "Credit Reallocation, Deleveraging, and Financial Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(7), pages 1889-1921, October.
  6. Roman Kraeussl, "undated". "Do Changes in Sovereign Credit Ratings Contribute to Financial Contagion in Emerging Market Crises?," Working Papers 0314, University of Crete, Department of Economics.
  7. Hsiao‐Tang Hsu, 2005. "Capital Control And Domestic Interest Rates: A Generalized Model," Contemporary Economic Policy, Western Economic Association International, vol. 23(3), pages 456-464, July.
  8. Kim, Yun Jung & Tesar, Linda L. & Zhang, Jing, 2015. "The impact of foreign liabilities on small firms: Firm-level evidence from the Korean crisis," Journal of International Economics, Elsevier, vol. 97(2), pages 209-230.
  9. Jounghyeon Kim, 2012. "Monetary and Exchange Rate Policy in the Aftermath of the Asian Financial Crisis: The Case of Korea," Korean Economic Review, Korean Economic Association, vol. 28, pages 91-116.
  10. Girardi, Alessandro & Ventura, Marco & Margani, Patrizia, 2018. "An Indicator of Credit Crunch using Italian Business Surveys," MPRA Paper 88839, University Library of Munich, Germany.
  11. Jangkoo Kang & Joon-Seok Kim, 2006. "Private benefits of control and firm leverage: An analysis of Korean firms," Review of Quantitative Finance and Accounting, Springer, vol. 27(4), pages 439-463, December.
  12. Bleakley, Hoyt & Cowan, Kevin, 2010. "Maturity mismatch and financial crises: Evidence from emerging market corporations," Journal of Development Economics, Elsevier, vol. 93(2), pages 189-205, November.
  13. Philippe Aghion & Sergei Guriev & Kangchul Jo, 2021. "Chaebols and firm dynamics in Korea [Distance to frontier, selection, and economicgrowth]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 36(108), pages 593-626.
  14. Maurice Obstfeld & Dongchul Cho & Andrew Mason (ed.), 2012. "Global Economic Crisis," Books, Edward Elgar Publishing, number 14951.
  15. Hyun, Junghwan, 2021. "Trade credit, group affiliation, and credit contraction: Evidence from the 1997 Korean financial crisis," Economic Modelling, Elsevier, vol. 95(C), pages 203-214.
  16. Youngjae Lim, 2004. "Sources of Corporate Financing and Economic Crisis in Korea: Micro-Evidence," NBER Chapters, in: Governance, Regulation, and Privatization in the Asia-Pacific Region, National Bureau of Economic Research, Inc.
  17. Torsten Schmidt & Lina Zwick, 2012. "In Search for a Credit Crunch in Germany," Ruhr Economic Papers 0361, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  18. Aaron Tornell & Frank Westermann (ed.), 2005. "Boom-Bust Cycles and Financial Liberalization," MIT Press Books, The MIT Press, edition 1, volume 1, number 9780262201599, April.
  19. Asli Demirgüç-Kunt & Enrica Detragiache, 2005. "Cross-Country Empirical Studies of Systemic Bank Distress: A Survey," National Institute Economic Review, National Institute of Economic and Social Research, vol. 192(1), pages 68-83, April.
  20. Ugo Albertazzi & Domenico J. Marchetti, 2010. "Credit supply, flight to quality and evergreening: an analysis of bank-firm relationships after Lehman," Temi di discussione (Economic working papers) 756, Bank of Italy, Economic Research and International Relations Area.
  21. Kraussl, Roman, 2005. "Do credit rating agencies add to the dynamics of emerging market crises?," Journal of Financial Stability, Elsevier, vol. 1(3), pages 355-385, April.
  22. Campbell, Gareth & Coyle, Christopher & Turner, John D., 2016. "This time is different: Causes and consequences of British banking instability over the long run," Journal of Financial Stability, Elsevier, vol. 27(C), pages 74-94.
  23. Tsuruta Daisuke, 2010. "Do Financial Shocks Have Negative Effects on Small Businesses? New Evidence from Japan for the Late 1990s," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-48, September.
  24. Hui Tong & Shang-Jin Wei, 2011. "The Composition Matters: Capital Inflows and Liquidity Crunch During a Global Economic Crisis," The Review of Financial Studies, Society for Financial Studies, vol. 24(6), pages 2023-2052.
  25. Kim, Se-Jik, 2004. "Bailout and conglomeration," Journal of Financial Economics, Elsevier, vol. 71(2), pages 315-347, February.
  26. Hong, Kiseok & Lee, Jong-Wha & Lee, Young Soo, 2007. "Investment by Korean conglomerates before and after the crisis," Japan and the World Economy, Elsevier, vol. 19(3), pages 347-373, August.
  27. Aguiar, Mark & Broner, Fernando A., 2006. "Determining underlying macroeconomic fundamentals during emerging market crises: Are conditions as bad as they seem?," Journal of Monetary Economics, Elsevier, vol. 53(4), pages 699-724, May.
  28. David Vera & Kazuki Onji & Prasanna Gai, 2014. "Are all financial crises created equal? Wholesale funding and two financial crises," Applied Economics, Taylor & Francis Journals, vol. 46(27), pages 3284-3299, September.
  29. Inha Oh & Jeong-Dong Lee & Almas Heshmati & Gyoung-Gyu Choi, 2009. "Evaluation of credit guarantee policy using propensity score matching," Small Business Economics, Springer, vol. 33(3), pages 335-351, October.
  30. Jong‐Wha Lee & Changyong Rhee, 2002. "Macroeconomic Impacts of the Korean Financial Crisis: Comparison with the Cross‐country Patterns," The World Economy, Wiley Blackwell, vol. 25(4), pages 539-562, April.
  31. Antonio Fabio Forgione & Carlo Migliardo, 2019. "An empirical analysis of the impact of trade credit on bank debt restructuring," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(2), pages 415-438, July.
  32. Jounghyeon Kim, 2020. "Determinants of Corporate Bankruptcy: Evidence from Chaebol and Non‐Chaebol Firms in Korea," Asian Economic Journal, East Asian Economic Association, vol. 34(3), pages 275-300, September.
  33. Kim, Yun Jung, 2016. "Foreign currency exposure and balance sheet effects: A firm-level analysis for Korea," Emerging Markets Review, Elsevier, vol. 26(C), pages 64-79.
  34. Sophia Dimelis & Ioannis Giotopoulos & Helen Louri, 2013. "The credit crunch and firm growth in the euro area: 2005-2011. A quantile panel analysis," Working Papers 165, Bank of Greece.
  35. Demirguc-Kunt, Asli & Detragiache, Enrica & Gupta, Poonam, 2006. "Inside the crisis: An empirical analysis of banking systems in distress," Journal of International Money and Finance, Elsevier, vol. 25(5), pages 702-718, August.
  36. Jaewoon Koo & Sunwoo Shin, 2004. "Financial Liberalization and Corporate Investments: Evidence from Korean Firm Data," Asian Economic Journal, East Asian Economic Association, vol. 18(3), pages 277-292, September.
  37. Basu, Debarati & Sen, Kaustav, 2022. "Organizational form and access to capital: The role of regulatory interventions," Journal of Contemporary Accounting and Economics, Elsevier, vol. 18(3).
  38. Puri, Tribhuvan N. & Kuan, Chikuang & Maskooki, Kooros, 2002. "An analysis of currency crisis in South Korea," Global Finance Journal, Elsevier, vol. 13(2), pages 121-146.
  39. Stephane Guimbert & Remco Oostendorp, 2016. "Risk Coping by Firms during the Crisis," Economic Development and Cultural Change, University of Chicago Press, vol. 65(1), pages 87-118.
  40. Kyung-Mook Lim, 2012. "Structural Fundamentals of Korean Corporations: This Time Was Different," Chapters, in: Maurice Obstfeld & Dongchul Cho & Andrew Mason (ed.), Global Economic Crisis, chapter 11, Edward Elgar Publishing.
  41. Mr. Phakawa Jeasakul & Cheng Hoon Lim & Mr. Erik J. Lundback, 2014. "Why Was Asia Resilient? Lessons from the Past and for the Future," IMF Working Papers 2014/038, International Monetary Fund.
  42. Ni, Shawn & Ratti, Ronald A., 2009. "Heterogeneous parameter uncertainty and the timing of investment during crisis," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-22.
  43. Lederman, Daniel & Roubini, Nouriel, 2004. "Comments," LSE Research Online Documents on Economics 123087, London School of Economics and Political Science, LSE Library.
  44. Fattouh, Bassam & Scaramozzino, Pasquale & Harris, Laurence, 2005. "Capital structure in South Korea: a quantile regression approach," Journal of Development Economics, Elsevier, vol. 76(1), pages 231-250, February.
  45. Peter L. Rousseau & Jong Hun Kim, 2007. "Credit Markets and the Propagation of Korea's 1997 Financial Crisis," Southern Economic Journal, John Wiley & Sons, vol. 74(2), pages 524-545, October.
  46. Aaron Tornell & Frank Westermann, 2002. "Boom-Bust Cycles in Middle Income Countries: Facts and Explanation," IMF Staff Papers, Palgrave Macmillan, vol. 49(Special i), pages 111-155.
  47. Yilmaz, Ensar, 2009. "Capital accumulation and regulation," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 760-771, August.
  48. David Archer, 2006. "Implications of recent changes in banking for the conduct of monetary policy," BIS Papers chapters, in: Bank for International Settlements (ed.), The banking system in emerging economies: how much progress has been made?, volume 28, pages 123-51, Bank for International Settlements.
  49. Koo, Jaewoon & Maeng, Kyunghee, 2005. "The effect of financial liberalization on firms' investments in Korea," Journal of Asian Economics, Elsevier, vol. 16(2), pages 281-297, April.
  50. Adachi-Sato, Meg & Vithessonthi, Chaiporn, 2021. "Bank risk-taking and corporate investment: Evidence from the Global Financial Crisis of 2007–2009," Global Finance Journal, Elsevier, vol. 49(C).
  51. Daisuke Tsuruta, 2012. "How Do Small Businesses Finance Their Growth Opportunities?—The Case of Recovery from the Lost Decade in Japan," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 33(3), pages 189-210, April.
  52. Dell'Ariccia, Giovanni & Detragiache, Enrica & Rajan, Raghuram, 2008. "The real effect of banking crises," Journal of Financial Intermediation, Elsevier, vol. 17(1), pages 89-112, January.
  53. Joshua Aizenman & Yothin Jinjarak & Huanhuan Zheng, 2019. "Housing Bubbles, Economic Growth, and Institutions," Open Economies Review, Springer, vol. 30(4), pages 655-674, September.
  54. repec:zbw:rwirep:0361 is not listed on IDEAS
  55. Todd A. Gormley & Simon Johnson & Changyong Rhee, 2011. "Ending "Too Big To Fail": Government Promises vs. Investor Perceptions," NBER Working Papers 17518, National Bureau of Economic Research, Inc.
  56. Khayyat, Nabaz T. & Lee, Jongsu & Heshmati, Almas, 2014. "How ICT Investment and Energy Use Influence the Productivity of Korean Industries," IZA Discussion Papers 8080, Institute of Labor Economics (IZA).
  57. Sung Jin Kang & Yasuyuki Sawada, 2008. "Credit Crunch And Household Welfare, The Case Of The Korean Financial Crisis," The Japanese Economic Review, Japanese Economic Association, vol. 59(4), pages 438-458, December.
  58. Kwan Yong Lee & Kanda Naknoi, 2014. "Exchange Rates, Borrowing Costs and Exports: Firm-Level Evidence," Working papers 2014-18, University of Connecticut, Department of Economics.
  59. Hsu, Junming & Young, Weiju & Huang, Yu-Wen, 2021. "Investors' reactions and firms' actions in the Covid-19 period: The case of Taiwan," International Review of Financial Analysis, Elsevier, vol. 78(C).
  60. Ms. Yu Shi & Robert M. Townsend & Wu Zhu, 2019. "Internal Capital Markets in Business Groups and the Propagation of Credit Supply Shocks," IMF Working Papers 2019/111, International Monetary Fund.
  61. Hippler, William J. & Hassan, M. Kabir, 2015. "The impact of macroeconomic and financial stress on the U.S. financial sector," Journal of Financial Stability, Elsevier, vol. 21(C), pages 61-80.
  62. Sumon Bhaumik & Pranab Kumar Das & Subal C. Kumbhakar, 2011. "Firm Investment & Credit Constraints in India, 1997 ??? 2006: A stochastic frontier approach," William Davidson Institute Working Papers Series wp1010, William Davidson Institute at the University of Michigan.
  63. M. Kabir Hassan & William J. Hippler III, 2013. "The Pronounced Impact of Macroeconomic Stress on the Financial Sector: Implications for Real Sector Growth," NFI Working Papers 2013-WP-01, Indiana State University, Scott College of Business, Networks Financial Institute.
  64. Yong Sarah Zhou, 2013. "Explaining ASEAN-3’s Investment Puzzle A Tale of Two Sectors," IMF Working Papers 2013/013, International Monetary Fund.
  65. Zainal-Abidin Mahani & Kwanho Shin & Yunjong Wang, 2006. "Macroeconomic Adjustments and the Real Economy in Korea and Malaysia Since 1997," Palgrave Macmillan Books, in: Ricardo Ffrench-Davis (ed.), Seeking Growth Under Financial Volatility, chapter 5, pages 139-183, Palgrave Macmillan.
  66. Jérôme Sgard, 2000. "La gestion des crises de liquidité internationale : logique de faillite, prêteur en dernier ressort et conditionnalité," Working Papers 2000-16, CEPII research center.
  67. Heshmati, Almas, 2013. "The Effect of Credit Guarantees on R&D Investment of SMEs in Korea," IZA Discussion Papers 7851, Institute of Labor Economics (IZA).
  68. Eduardo Borensztein & Jong‐Wha Lee, 2005. "Financial reform and the efficiency of credit allocation in Korea," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 8(1), pages 55-68.
  69. Franz R. Hahn & Werner Hölzl & Claudia Kwapil, 2016. "The Credit Channel and the Role of Monetary Policy Before, During and After the Global Financial Crisis. A Micro Data Approach to the Analysis of Bank-firm Relationships," WIFO Studies, WIFO, number 59233, April.
  70. Brahima Coulibaly & Jonathan Millar, 2011. "Investment Dynamics in the Aftermath of the Asian Financial Crisis: A Firm-Level Analysis," International Finance, Wiley Blackwell, vol. 14(2), pages 331-359, June.
  71. Popescu Laura & Zurbagiu Bogdan, 2010. "It – Cause And Recovery Tool In The Economic Crisis Context," Romanian Economic Business Review, Romanian-American University, vol. 5(3), pages 177-189, September.
  72. Kwamie Dunbar, 2009. "Stochastic Business Cycle Volatilities, Capital Accumulation and Economic Growth: Lessons from the Global Credit Market Crisis," Working papers 2009-36, University of Connecticut, Department of Economics.
  73. Tarun Khanna & Yishay Yafeh, 2007. "Business Groups in Emerging Markets: Paragons or Parasites?," Journal of Economic Literature, American Economic Association, vol. 45(2), pages 331-372, June.
  74. Müller, Ralf, 2001. "Korean Unification and Banking System - An Analysis in View of German Experiences and Korean Differences," IWH Discussion Papers 139/2001, Halle Institute for Economic Research (IWH).
  75. Hui Tong & Shang-Jin Wei, 2014. "The Misfortune of Nonfinancial Firms in a Financial Crisis: Disentangling Finance and Demand Shocks," NBER Chapters, in: Measuring Wealth and Financial Intermediation and Their Links to the Real Economy, pages 349-376, National Bureau of Economic Research, Inc.
  76. Abhishek Bhardwaj & Krishnamurthy Subramanian & Prasanna Tantri, 2022. "Relationship Banking and Monetary Policy Transmission: Evidence from India," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(8), pages 2341-2375, December.
  77. Morris Goldstein, 2001. "IMF Structural Conditionality: How Much is Too Much?," Working Paper Series WP01-4, Peterson Institute for International Economics.
  78. Vo, Hong & Nguyen, Tien & Truong, Hang, 2023. "Economic policy uncertainty and corporate investment: An empirical comparison of Korean chaebol and non-chaebol firms," Finance Research Letters, Elsevier, vol. 54(C).
  79. Schmidt, Torsten & Zwick, Lina, 2012. "In Search for a Credit Crunch in Germany," Ruhr Economic Papers 361, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
  80. Joshua Aizenman & Yothin Jinjarak & Huanhuan Zheng, 2016. "House Valuations and Economic Growth: Some International Evidence," NBER Working Papers 22699, National Bureau of Economic Research, Inc.
  81. UFOEZE, Lawrence Olisaemeka, 2018. "Effect Of Foreign Exchange Rate Fluctuations On Nigerian Economy," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 9(1), pages 105-122.
  82. Costa, Stefano & Malgarini, Marco & Margani, Patrizia, 2012. "Access to credit for Italian firms: new evidence from the ISTAT confidence business surveys," MPRA Paper 41389, University Library of Munich, Germany.
  83. Guimbert, Stephane & Oostendorp, Remco, 2012. "Weathering the storm : responses by Cambodian firms to the global financial crisis," Policy Research Working Paper Series 6220, The World Bank.
  84. Sayuri Shirai, 2004. "Assessing the Impact of Financial and Capital Market Reforms on Firms’ Corporate Financing Patterns in India," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 5(2), pages 189-208, September.
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