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This new edition of Korea Briefing provides a timely analysis of the evolving relationship between South and North Korea. In June 2000, after years of ignoring the South Korean government, the North Korean leader Kim Jong II finally agreed to a summit meeting with South Korea's President Kim Dae Jung. As a sign of reconciliation, the summit meeting has prompted Korea and its neighbors to rethink the assumptions of the Cold War era. With contributions by a multi-national panel of Koreanexperts, the book discusses a wide range of topics, including South Korean politics and economy; Korea's relations with its neighbors and with the United States; recent changes in North Korea; the fate of North Korean defectors; and lessons in German reunification for the two Koreas. The discussions are supplemented by a glossary, a chronology of events occurring from June 1999 to June 2001, and a bibliography.
Despite ongoing economic recovery and improvements in global financial stability, structural weaknesses and vulnerabilities remain in some important financial systems. The April 2011 Global Financial Stability Report highlights how risks have changed over the past six months, traces the sources and channels of financial distress with an emphasis on sovereign risk, notes the pressures arising from capital inflows in emerging economies, and discusses policy proposals under consideration to mend the global financial system.
Edited by David T. Coe and Se-Jik Kim, this volume contains papers presented at a May 2001 conference in Seoul sponsored by the IMF and the Korea Institute for International Economic Policy on the Korean Crisis and Recovery. The papers examine the response to the 1997 crisis, its long-term impact on growth, and the state of financial and corporate sector reforms. Authors include academics, Korean policymakers, and IMF and World Bank staff involved in the Korean program.
The German financial system is complex and highly diversified. The second most important class of financial institutions is insurance and pension companies. Germany has taken steps to enhance accounting and auditing practices and to align corporate governance with best international practices. The German banking system is resilient, but relevant indicators show some deterioration. The main vulnerability facing all sectors of the insurance industry is the pressure on capital ratios and risk-bearing capacity from the poor performance of investment portfolios. Securities regulation is of a high standard.
Pt. 1. Towards a different approach -- pt. 2. US economic behaviour in Asia after the financial crisis -- pt. 3. Explaining divergent US economic interests.
By combating malaria with mosquito nets or building schools and providing basic sanitation, philanthropy is helping transform the developing world. Rich donors are devoting fortunes—many of them earned through computer software, entertainment, and venture capitalism— to defeating poverty and improving lives, supplementing and in some cases surpassing official aid channels.From billionaires Bill and Melinda Gates and Warren Buffett to Aliko Dangote and George Soros, the titans of capitalism are backing good causes with their cash. Whether financing new vaccines, building libraries, or buying up Amazon rain forest to protect the environment, philanthropists are supporting innovations and n...
Asia has rebounded fast from the depth of the global crisis. Initially, the region was hit extremely hard, with output in most countries shrinking by much more than even those nations at the epicenter of the crisis. But starting in February 2009, Asia's economy began to revive. Exports and industrial production have increased again, financial pressures have eased, confidence has largely been restored. What explains this remarkable comeback? What challenges does the recovery pose to Asian policymakers? These are the main questions addressed in the IMF's October 2009 "Regional Economic Outlook: Asia and Pacific." The report discusses the latest developments in Asia, examines the prospects for the period ahead, and considers the policy steps needed to sustain the recovery and rebalance Asia's medium-term growth. Published biannually in May and October.
We examine corporate sector vulnerabilities in Brazil, Chile, Colombia, Mexico and Peru. First, we identify stylized facts based on corporate financial indicators. Second, we assess vulnerability of individual firms to a sudden stop in financing through a probit model, using a panel of 18 countries in 2000-11. Results suggest that higher leverage and maturity exposures raise a firm’s probability to become exposed to a funding shock, while a larger firm size and buffers reduce it. Further, greater exchange rate flexibility can help mitigate corporate vulnerability. Identification of firms at risk through the model suggests that some vulnerabilities may be building in Latin America led by leverage, currency exposures and moderating buffers. These effects are partially offset, however, by a significant reduction in maturity exposures.
This paper presents a framework for quantitatively evaluating the macroeconomic effects of corporate restructuring and applies it to Japan. Using firm-level financial statement data, it estimates total factor productivity (TFP) of individual Japanese firms. Given the estimated distribution of productivity across firms, the paper simulates the effect of optimal restructuring, that is, reallocation of resources from less-productive firms to more-productive ones, on the dynamic path of aggregate output. The results show that the benefits of restructuring could substantially exceed the costs.
This book focuses on the tensions between and conflict resolution processes concerning minority ethnic groups in Myanmar’s rural areas and the State. It covers topics such as relations and communication between the central government, the Kokang Chinese community and the Kachin State; the impact of cyclone Nargis on remote settlements in the Ayeyarwady Delta; the impact of depletion of mangrove forests and Yangon’s fuel needs on a Karen minority group; and the collapse of a community forestry project in a Pa-O village in Shan State. Written by young scholars from Myanmar, some of whom belong to minority groups, the book provides firsthand reporting and scholarship that, for the past sixty years, have not been available. Offering in-depth, unique insights into minority change issues in the interior and at the periphery of Myanmar, as seen from local perspectives, it offers a valuable resource for academics, students and researchers in the fields of sustainable development, social and political studies, and development communication in Asia.