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2008 OECD Economic Outlook, Volume 2008 Issue 2

image of OECD Economic Outlook, Volume 2008 Issue 2

This December 2008 edition of the OECD Economic Outlook presents OECD's first set of economic analysis and projections since the financial crisis began. As always, it includes and overall assessment as well as individual country assessments for OECD and major non-OECD economies, and an extensive statistical annex.  This edition's special feature covers responses to inflation shocks.

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Korea

Korea has been hard-hit by the global financial crisis and the earlier commodity price shock, which together ended the expansion and pushed up inflation. Sharp won depreciation since mid-September has further clouded the economic outlook. Growth is projected to fall to below 3% in 2009 and then pick up gradually as the world economy improves.

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