1. Korean Economic
... decades. Since almost of all governors and politicians were from the military force, people was under control of them. Politics were relatively insulated from business, political elites were able to discipline private sector, for example, a reward productive investment and penalize poor performance. However, he accomplished the growth of administrative capacity, as showed by a remarkable rise in the tax revenue. The administrative ... factors, for instance, the stable inflation rate may have led both borrowers and lenders to underestimate the risk of Korea's foreign currency exposure. F...
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