01812cas a2200253 a 4500 AALejournalIMF001139 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844252 1018-5941 BD-DhAAL BD-DhAAL Lee, Jong-Wha. Financial Crisis and Credit Crunch in Korea : Evidence From Firm-Level Data / Jong-Wha Lee, Eduardo Borensztein. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the credit crunch following the recent financial crisis in Korea. Using enterprise-level data, we find that there were big differences in the magnitude of the credit contraction across different types of firms. In particular, chaebol (conglomerate)-affiliated firms appeared to have lost the preferential access to credit they enjoyed in the pre-crisis period, and credit appears to have been reallocated in favor of more efficient firms. This suggests that the credit crunch suffered by certain sectors can be attributed to the adjustment by banks and enterprises to the restructuring of the financial sector, rather than to tight monetary policy or an external credit constraint. Mode of access: Internet Borensztein, Eduardo. IMF Working Papers; Working Paper ; No. 2000/025 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/025/001.2000.issue-025-en.xml IMF e-Library