All the operational aspects must now be rapidly finalized to permit accurate assessment of its financial capacity and to prevent uncertainty from amplifying the national component of risk premiums, thereby perpetuating financial market fragmentation and the vicious circle between the conditions of sovereign borrowers and banks.
Necessities for economic development Korean economic development was even termed a miracle by some because it was achieved within a very short period. Many underdeveloped countries, in particular, have pondered over its main driving forces. It is often said that there are certain prior necessities such as an abundance of either natural resources or capital, and wide markets, without which economic development seems unlikely.