Financial Liberalization And Economic Development In Korea 1980 2020
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Financial Liberalization And Economic Development In Korea 1980 2020
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Author :
language : en
Publisher: BRILL
Release Date : 2022-03-07
Financial Liberalization And Economic Development In Korea 1980 2020 written by and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-07 with Business & Economics categories.
Since the early 1980s, Korea’s financial development has been a tale of liberalization and opening. After the 1997 financial crisis, great strides were made in building a market-oriented financial system through sweeping reforms for deregulation and the opening of financial markets. However, the new system failed to steer the country away from a credit card boom and bust in 2003, a liquidity crisis in 2008, and a run on its savings banks in 2011, and has been severely tested again by the ongoing COVID-19 pandemic crisis. Financial liberalization, clearly, has been no panacea. This study analyzes the deepening of and structural changes in Korea’s financial system since the early 1980s and presents the empirical results of the effects of financial development on economic growth, stability, and the distribution of income. It finds that, contrary to conventional wisdom, financial liberalization has contributed little to fostering the growth and stability of the Korean economy and has exacerbated income distribution problems. Are there any merits in financial liberalization? The authors answer this query through empirical examinations of the theories of finance and growth. They point to a clear need to further improve the efficiency, soundness, and stability of Korean financial institutions and markets.
Financial Liberalization And Economic Development In Korea 1980 2020
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Author : Yung Chul Park
language : en
Publisher: Harvard University Press
Release Date : 2021-03-30
Financial Liberalization And Economic Development In Korea 1980 2020 written by Yung Chul Park and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-30 with categories.
Korea's financial development has been a tale of liberalization and opening but the new system has failed to steer the country away from financial crises. This study analyzes the changes in the financial system and finds that financial liberalization has contributed little to grow and stabilize the Korean economy.
Finance And Economic Development In Korea
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Author : Yŏng-chʻŏl Pak
language : en
Publisher: 대외경제정책연구원
Release Date : 2004
Finance And Economic Development In Korea written by Yŏng-chʻŏl Pak and has been published by 대외경제정책연구원 this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Banks and banking categories.
Regulated Deregulation Of The Financial System In Korea
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Author : Ismail Dalla
language : en
Publisher: World Bank Publications
Release Date : 1995-01-01
Regulated Deregulation Of The Financial System In Korea written by Ismail Dalla and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-01-01 with Business & Economics categories.
World Bank Discussion Paper No. 292. Examines the anatomy of the Republic of Korea's financial reform policy since 1979 in order to place the nation's financial reform plan of 1993 in a proper context. Financial deregulation in the Republic of Korea, initiated in 1979, coincided with similar programs in South America and East Asia. The reforms were successful in spite of a mild form of financial repression and a deregulation policy that ran an erratic course. The republic moved decisively in 1993 toward a conventional type of financial liberalization by announcing a blueprint of reforms to be implemented over a five-year period ending in 1997. This paper examines the anatomy of the Korean financial reform policy since 1979 in order to place its financial reform plan of 1993 in the proper context. The report presents a conceptual framework of the Korean financial system and policies, examines interest rate reforms on various levels, and discusses changes in the credit allocation system that were undertaken in earlier phases of the reforms. The book goes on to review the rationale of the final financial reform phase, the sequencing of its various elements, and the assessment. Broad conclusions are presented.
The Politics Of Economic Reform In South Korea
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Author : Tat Yan Kong
language : en
Publisher: Routledge
Release Date : 2013-10-11
The Politics Of Economic Reform In South Korea written by Tat Yan Kong and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-11 with Social Science categories.
One of the most comprehensive texts on the political economy of Korea available Up-to-date - goes up to 1999
The Financial Development Of Japan Korea And Taiwan
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Author : Hugh T. Patrick
language : en
Publisher: Oxford University Press, USA
Release Date : 1994
The Financial Development Of Japan Korea And Taiwan written by Hugh T. Patrick and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Banks and banking categories.
The analysis shows how financial development has occurred in two distinct phases. Initially, interest rates were regulated to remain below market levels, entry of new financial institutions was restricted, financial markets were segmented, and domestic finance was insulated from world financial markets. The second phase has seen a steady, if sometimes slow, removal of these restrictions.
Korea S Experiences In Reforming The Financial Sector Toward A Marked Based System And Lessons For Vietnam
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Author : Dang Thanh Ngo
language : de
Publisher: GRIN Verlag
Release Date : 2012
Korea S Experiences In Reforming The Financial Sector Toward A Marked Based System And Lessons For Vietnam written by Dang Thanh Ngo and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
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.
Financial System And Economic Growth
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Author : Chongwoo Choe
language : en
Publisher:
Release Date : 1996
Financial System And Economic Growth written by Chongwoo Choe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Economic development categories.
Credit Allocation And Financial Crisis In Korea
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Author : Mr.Eduardo Borensztein
language : en
Publisher: International Monetary Fund
Release Date : 1999-02-01
Credit Allocation And Financial Crisis In Korea written by Mr.Eduardo Borensztein and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-02-01 with Business & Economics categories.
This paper analyzes some of the structural problems associated with the Korean financial sector, and investigates whether the financial system has allocated credit in an efficient way over the past three decades. Using data for 32 manufacturing sectors, we find no evidence that credit flows were directed to the relatively more profitable sectors, either before or after the financial reforms. We also find that the flow of credits did not contribute to improve the economic performance of the favored industries over time.
The Korean Economy
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Author : Hy?ng-gu Yi
language : en
Publisher: SUNY Press
Release Date : 1996-01-25
The Korean Economy written by Hy?ng-gu Yi and has been published by SUNY Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-01-25 with Political Science categories.
Lee, former South Korean government Minister of Labor for the South Korean government, discusses the country's economic development from 1945-1994 and the public policies that shaped it, arguing that if South Korea is to become a major economic power, the government should withdraw from the economic front line.