Did Korean Monetary Policy Help Soften the Impact of the Global Financial Crisis of 2008“09?

Working Paper No. 12/5

Did Korean Monetary Policy Help Soften the Impact of the Global Financial Crisis of 2008“09?
Korea was one of the Asian economies hardest hit by the global financial crisis. Anticipating the downturn that would follow the episode of extreme financial stress, the Bank of Korea (BOK) let the exchange rate depreciate as capital flowed out, and preemptively cut the policy rate by 325 basis points. But did it work? This paper seeks a... READ MORE...

Publication date: January 2012
ISBN 9781463930547
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Publication date: January 2012

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Publication date: January 2012

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