Republic of Korea: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2010 Issue 271

Publication date: September 2010

ISBN: 9781455204311

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Labor , Economics- Macroeconomics , Public Finance , Demography , ISCR , CR , SME , enterprise , rate , crisis , terms of trade , saving rate , household savings , SME guarantee , savings rate , consumption growth , SME restructuring , Employment , Labor markets , Income , Unemployment , Aging , Global , Asia and Pacific

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Summary

This paper analyzes the implications of global rebalancing in the post-crisis period for Korea and how high leverage in the household and SMEs sectors could affect this process. The first section of the paper discusses implications of global rebalancing for Korea using simulations from the Global Integrated Monetary and Fiscal Model (GIMF). The second section focuses on how rebalancing growth in Korea is different from the rest of the region, and discusses the challenges of highly leveraged households and SMEs for the rebalancing process. The last section concludes with policy recommendations.