Here is the synopsis of our sample research paper on South Korea and the IMF during the 1997 - 1999 Crisis. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
In 1997 South Korea received the largest aid package to date from the International Monetary Fund as a result of the Asian financial crisis. This 8 page paper looks at the background to the $58 billion loan, the conditions that changed several times and the final outcome. To measure the effectiveness of the measures and the regime the Oslo-Postdam solution is used. The bibliography cites 9 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEkoreaimf.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
subject debate due to the emergence of both negative positive factors. Looking at South Korea it can be argued that the intervention from the IMF appeared a necessity. Korea had
been a success story of Asia, there had been rapid growth in the 1990s but in 1996 and into 1997 a financial crisis hit. This was the result of weak
financial regulation in place, poor corporate governance and wide scale corruptions ad well as ill conceived liberalisation measures (Mo and Moon (a) (b), 1999). This GNP was lowered significantly, reduced
by a third from a GNP per capita of US $10,000 down to US $6,600. The problems had started in 1996, but it was in 1997 that they reached crisis
point, Thailand devalued its currency and the knock on effect was seen across Asia, with many companies having loans to Thai companies or investments and commercial links in the area.
This was seen as a bubble that bust, for Korea the impact was far reaching, in 1997 the foreign reserves fell as low as US $8.87 billion for a comparison
after the recovery in 2001 the reserves were seen as normalised at $97.8 billion (Mo and Moon (a) , 1999, IMF, 2006). At this level it is hoped that further
currency instabilities should not occur. The result was the largest financial aid package to date. South Korea had to appeal for an aid package that amounted to US 58
billion, but with any programme where the IMF is involved there are always strings that may be seen by many as essential for long term recovery and reform to take
place, but by others may also be seen as having a high level of negative impacts, including social costs (Chang et al, 1998).
...