The Korean won/US dollar exchange rate increased by a large margin and market interest rates in the corporate bond and CP markets and elsewhere rose precipitately. Although the loss in the exchange value of the Korean won was less than that in the earlier foreign currency crisis, it was relatively large in scale compared to that of other Asian currencies.
11 In Harada, Kataoka, and Yoshimatsu, Abenomikusu wa shinkasuru, this sort of theory is criticized by referring to it as the "big rock theory."