The East Asian, particularly the South Korean, crisis has not been an anticipated one. The East Asian experience in the 1970s and 1980s consisted of high growth based on export competitiveness and large capital account surpluses. While performance was perhaps weakening in some of these economies following their exposure to financial globalization, returns on assets were generally high. Yet, the...

Abstract North Korea is widely seen as having among the most corrupt governments in world. However, Kim family regime has not always been so accepting of government wrongdoing. Drawing on archival evidence, this study shows that Il-sung saw corruption a threat to economic development and launched campaigns curb it throughout 1950s. I find these were at least somewhat successful, they contribute...

Commentary by Dr. Steven Becker, Department of Environmental Health No two disasters are precisely the same, and the unfolding emergency at the Fukushima Daiichi nuclear facility in Japan has several unique characteristics. The main one is the combination of circumstances that produced the crisis: a massive earthquake followed by an immense tsunami. Still, the Japanese nuclear crisis has import...

We investigate how corporate stock returns respond to geopolitical risk in the case of South Korea, which has experienced large and unpredictable swings that originate from North Korea. To do so, a monthly index Korea (the GPRNK index) is constructed using automated keyword searches Korean media. The index, designed capture both upside downside risk, corroborates sharply increases with occurren...

We investigate how corporate stock returns respond to geopolitical risk in the case of South Korea, which has experienced large and unpredictable swings that originate from North Korea. To do so, a monthly index Korea (the GPRNK index) is constructed using automated keyword searches Korean media. The index, designed capture both upside downside risk, corroborates sharply increases with occurren...

BACKGROUND The aim of this study was to investigate the changes of body composition and muscle strength of North Korean refugees (NKRs) according to their duration of stay in South Korea. METHODS NKRs who volunteered and were living in South Korea, aged 20 to 75 years were recruited. Body compositions were analyzed by bioelectrical impedance analysis. Muscle strength was measured with the han...

This study examines the dual implications of dual-option subsidiaries on exit decisions during times of economic crisis. Retaining dual-option subsidiaries in crisis-stricken countries means leaving a shadow option open for future growth once a crisis ends. However, MNCs may encounter problems pursuing either option due to challenges in managing dual-option subsidiaries with clashing strategic ...