Korean Bank Regulation & Supervision: Crisis & Reform (International Banking, Finance and Economic Law Series Set)
Book Details
Author(s)Young Shim
PublisherKluwer Law International
ISBN / ASIN9041197788
ISBN-139789041197788
AvailabilityUsually ships in 24 hours
Sales Rank13,541,504
CategoryBusiness & Economics
MarketplaceUnited States 🇺🇸
Description
This work identifies the continuing structural weaknesses of the Korean banking system, which were thrown into sharp relief by the 1997 financial crisis, and focuses on the need for reform in order to achieve financial stability. The study centres around three central questions: Who should be the regulator? What substantive standards of supervision should be applied? Administratively, in what manner should these standards be applied?
The book argues that the Korean banking system, characterised as a `governmental control system' for credit allocation, should be removed from undue governmental and political interference, thus allowing the involvement of banks in commercially oriented practices without exposure to the significant risks incurred by governmental policy directed lending.
The author calls for a high degree of transparency and accountability, for a clear, realistic timetable for restructuring, and for an effective exit policy for troubled commercial banks.
This book will be of value to practitioners, researchers and academics working in the field of banking law, particularly those with a special interest in the Asia-Pacific region.
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