After years of strong performance, Korea’s economy entered a crisis in 1997, owing largely to structural problems in its financial and corporate sectors. These problems emerged in the second half of that year, when the capital inflows that had helped finance Korea’s growth were reversed, as foreign investors—reeling from losses in other Southeast Asian economies—decided to reduce their exposure to Korea. This paper focuses on the sources of the crisis that originated in the financial sector, the measures taken to deal with it, and the evolution of key banking and financial variables in its aftermath.

Masterarbeit aus dem Jahr 2007 im Fachbereich VWL - Konjunktur und Wachstum, , Sprache: Deutsch, Abstract: Basically, the Korea’s financial sector has gone through three development period under two different types of financial systems. During these three periods, in theory, two financial systems were applied into the Korea’s financial sector: the relationship-based (or state-led) system (from 1960s to late 1980s) and the market-based system (after late 1980s till now). But in fact, due to the differences in applying the market style into Korea, we can see in the second system’s time, there was obviously two periods, the period of ‘gradualism’ and the period of ‘Big Bang’ with the turning point is in 1997. Therefore, it is better to define the history of Korea’s financial development into three periods. The first period started from early 1960s (after the military coup which brought Park Chung Hee to the position of President) to the late 1980s, in which Korea’s economy was under the relationship-based system; the second period lasted from late 1980s to 1997 when the financial crisis occurred due to wrong policies under ‘gradualism’ and bad effects of the first period; and the last period started from 1997 up to now when Korea take ‘Big Bang’ approach to cure its illness after the failure in 1997. Researching the evolution of Korea’s financial system during the three periods as a whole process is important to collect experiences for under-developing country such as Vietnam to improve its financial system. Even though the conditions of Vietnam and Korea are different, but still, the logic behind each policy that the Korean government used in the past will be a big help to Vietnam as well as finding out the reasons of the failures that Korea did not avoid.

The demand for workforce skills is changing in Vietnam’s dynamic economy. In addition to job-specific skills, Vietnamese employers value cognitive skills, like problem solving, and behavioral skills, like team work. This book presents an agenda of change for Vietnam’s education system to prepare workers to succeed in Vietnam’s modernizing economy.

Masterarbeit aus dem Jahr 2007 im Fachbereich VWL - Konjunktur und Wachstum, Sprache: Deutsch, Abstract: Basically, the Korea's financial sector has gone through three development period under two different types of financial systems. During these three periods, in theory, two financial systems were applied into the Korea's financial sector: the relationship-based (or state-led) system (from 1960s to late 1980s) and the market-based system (after late 1980s till now). But in fact, due to the differences in applying the market style into Korea, we can see in the second system's time, there was obviously two periods, the period of 'gradualism' and the period of 'Big Bang' with the turning point is in 1997. Therefore, it is better to define the history of Korea's financial development into three periods. The first period started from early 1960s (after the military coup which brought Park Chung Hee to the position of President) to the late 1980s, in which Korea's economy was under the relationship-based system; the second period lasted from late 1980s to 1997 when the financial crisis occurred due to wrong policies under 'gradualism' and bad effects of the first period; and the last period started from 1997 up to now when Korea take 'Big Bang' approach to cure its illness after the failure in 1997. Researching the evolution of Korea's financial system during the three periods as a whole process is important to collect experiences for under-developing country such as Vietnam to improve its financial system. Even though the conditions of Vietnam and Korea are different, but still, the logic behind each policy that the Korean government used in the past will be a big help to Vietnam as well as finding out the reasons of the failures that Korea did not avoid.

In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.

Thirty years of Ä?ổi Má»›i (economic renovation) reforms have catapulted Vietnam from the ranks of the world’s poorest countries to one of its great development success stories. Critical ingredients have been visionary leaders, a sense of shared societal purpose, and a focus on the future. Starting in the late 1980s, these elements were successfully fused with the embrace of markets and the global economy. Economic growth since then has been rapid, stable, and inclusive, translating into strong welfare gains for the vast majority of the population. But three decades of success from reforms raises expectations for the future, as aptly captured in the Vietnamese constitution, which sets the goal of “a prosperous people and a strong, democratic, equitable, and civilized country.†? There is a firm aspiration that by 2035, Vietnam will be a modern and industrialized nation moving toward becoming a prosperous, creative, equitable, and democratic society. The Vietnam 2035 report, a joint undertaking of the Government of Vietnam and the World Bank Group, seeks to better comprehend the challenges and opportunities that lie ahead. It shows that the country’s aspirations and the supporting policy and institutional agenda stand on three pillars: balancing economic prosperity with environmental sustainability; promoting equity and social inclusion to develop a harmonious middle- class society; and enhancing the capacity and accountability of the state to establish a rule of law state and a democratic society. Vietnam 2035 further argues that the rapid growth needed to achieve the bold aspirations will be sustained only if it stands on faster productivity growth and reflects the costs of environmental degradation. Productivity growth, in turn, will benefit from measures to enhance the competitiveness of domestic enterprises, scale up the benefits of urban agglomeration, and build national technological and innovative capacity. Maintaining the record on equity and social inclusion will require lifting marginalized groups and delivering services to an aging and urbanizing middle-class society. And to fulfill the country’s aspirations, the institutions of governance will need to become modern, transparent, and fully rooted in the rule of law.