The importance of having an efficient labor market is growing because of recent trends such as globalization, the development of information-communication technology (ICT), and the increasing need for foreign direct…
May 25, 2011
Along with commercial banks, capital markets are an integral part of the financial systems in most capitalist economies, and their relative importance is constantly increasing. Countries around the world are…
May 25, 2011
Central banks have two responsibilities: (1) stabilize the value of the currency and (2) maintain public confidence in deposit money by limiting systemic risk. The first responsibility is primary, ongoing,…
May 25, 2011
In the unfolding process of the Korean financial crisis in 1997, an inefficient corporate bankruptcy system played a damaging role in the Korean economy. Before the crisis, in 1996 and…