Capital Flows in Korea after Capital Account Liberalization
2014
It is conventional wisdom that foreign capital inflows have a positive role in promoting economic growth and facilitating financial development in emerging markets that traditionally experience shortages of capital. Should the capital introduced abruptly flow out of a country, however, it delivers a great shock to that country’s economy. This has been well illustrated by the Asian financial crisis of the late 1990s and the global financial crisis in 2008.
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