Korean Financial Turmoil
The recent wave of Southeast Asian financial problems broke against Korean shores in November, sending the country’s currency and stock market swirling. Like many nations in the region, Korea built a solid macroeconomic performance on a weak financial foundation and shielded much of its economy from the full force of market competition.
Suggested citation: “Korean Financial Turmoil,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-12, pp. 19, 12.01.1997.