The study investigates the balance of payments experience of the Philippines and Korea in the periods following the two oil price shocks in 1974 and 1980 and examines the policy responses to the BOP crises by the two countries. It also looks into the factors that brought about the crisis and its resulting impact on the two countries. Such analysis provides an indication of general prospects for both Korea and the Philippines in the near future.
Response to Balance of Payments Crises in the 1970s: Korea and the Philippines
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