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Financial Liberalization And Economic Development In Korea 1980 2020
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Book Synopsis Financial Liberalization and Economic Development in Korea, 1980-2020 by :
Download or read book Financial Liberalization and Economic Development in Korea, 1980-2020 written by and published by BRILL. This book was released on 2022-03-07 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Economic Development and Financial Liberalization in Korea by : Joong-woong Kim
Download or read book Economic Development and Financial Liberalization in Korea written by Joong-woong Kim and published by . This book was released on 1985 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Institutions and Politics of Economic Policymaking by : Kwangsok Oh
Download or read book Institutions and Politics of Economic Policymaking written by Kwangsok Oh and published by . This book was released on 1994 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Finance and Economic Development in Korea by : Yŏng-chʻŏl Pak
Download or read book Finance and Economic Development in Korea written by Yŏng-chʻŏl Pak and published by 대외경제정책연구원. This book was released on 2004 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam by : Dang Thanh Ngo
Download or read book Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam written by Dang Thanh Ngo and published by GRIN Verlag. This book was released on 2012-01-30 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Korea's Experiences in Reforming the Financial Sector Toward a Marked-Based System and Lessons for Vietnam by : Dang Thanh Ngo
Download or read book Korea's Experiences in Reforming the Financial Sector Toward a Marked-Based System and Lessons for Vietnam written by Dang Thanh Ngo and published by GRIN Verlag. This book was released on 2012 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Interest Rate Policy and Financial Liberalization in Economic Development by : Tae-joung Noh
Download or read book Interest Rate Policy and Financial Liberalization in Economic Development written by Tae-joung Noh and published by . This book was released on 1986 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Regulated Deregulation of the Financial System in Korea by : Ismail Dalla
Download or read book Regulated Deregulation of the Financial System in Korea written by Ismail Dalla and published by World Bank Publications. This book was released on 1995-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Developmental Mindset by : Elizabeth Thurbon
Download or read book Developmental Mindset written by Elizabeth Thurbon and published by Cornell University Press. This book was released on 2016-03-31 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian financial crisis of 1997–1998 was supposed to be the death knell for the developmental state. The International Monetary Fund supplied emergency funds for shattered economies but demanded that states liberalize financial markets and withdraw from direct involvement in the economy. Financial liberalization was meant to spell the end of strategic industry policy and the state-directed "policy lending" it involved. Yet, largely unremarked by analysts, South Korea has since seen a striking revival of financial activism. Policy lending by state-owned development banks has returned the state to the core of the financial system. Korean development banks now account for one quarter of all loans and take the lead in providing low-cost finance to local manufacturing firms in strategic industries. Elizabeth Thurbon argues that an ideational analysis can help explain this renewed financial activism. She demonstrates the presence of a "developmental mindset" on the part of political leaders and policy elites in Korea. This mindset involves shared ways of thinking about the purpose of finance and its relationship to the productive economy. The developmental mindset has a long history in Korea but is subject to the vicissitudes of political and economic circumstances. Thurbon traces the structural, institutional, political, and ideational factors that have strengthened and at times weakened the developmental consensus, culminating in the revival of financial activism in Korea. In doing so, Thurbon offers a novel defense of the developmental state idea and a new framework for investigating the emergence and evolution of developmental states. She also canvasses the implications of the Korean experience for wider debates concerning the future of financial activism in an era of financialization, energy insecurity, and climate change.
Book Synopsis The Korean Economic System by : Jae-Seung Shim
Download or read book The Korean Economic System written by Jae-Seung Shim and published by Routledge. This book was released on 2016-03-03 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on the formation of the Korean economic system, this book presents a fascinating and comprehensive analysis of economic development outside of the traditional neo-classical, developmental-state and dependency perspectives. It examines in detail the evolution of institutions that contributed to economic growth and the formation and the workings of the economic system. With an emphasis on the interaction between government, private institutions (Chaebol and financial institutions) and the influence of Japan, it offers one of the most stimulating and distinctive views of Korean economic development to date. It will be of key interest to scholars and researchers of financial growth and development, Asian finance, and regional and heterodox economics.
Book Synopsis The Effects of Financial Liberalization Policy of the Financial System, Financial Asset Preference, and Economic Growth in Korea by : Heejoon Jeong
Download or read book The Effects of Financial Liberalization Policy of the Financial System, Financial Asset Preference, and Economic Growth in Korea written by Heejoon Jeong and published by . This book was released on 1996 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Political Economy of Financial Liberalization in Emerging Markets by : Tsaubin Chen
Download or read book Political Economy of Financial Liberalization in Emerging Markets written by Tsaubin Chen and published by . This book was released on 2002 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of Financial Liberalization on the Development of the Financial Market and the Allocation of Credit to Corporate Sectors by : Yoon-Je Cho
Download or read book The Effects of Financial Liberalization on the Development of the Financial Market and the Allocation of Credit to Corporate Sectors written by Yoon-Je Cho and published by . This book was released on 1986 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Liberalization, Crises, and Economic Growth by : In-gu Yi
Download or read book Financial Liberalization, Crises, and Economic Growth written by In-gu Yi and published by . This book was released on 2007 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Development in Korea, 1945–1978 by : David C. Cole
Download or read book Financial Development in Korea, 1945–1978 written by David C. Cole and published by BRILL. This book was released on 2020-03-17 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of the postwar developent of the South Korean financial sector tthrough 1978. A detailed description of the structure of the financial sector is provided, followed by discussions of Korea's regulated and unregulated financial institutions and markets, government policies to influence resource allocation and mobilization, price-stabilization problems and policies, and lessons from the Korean experience.
Book Synopsis Financial Liberalization and Monetary Policy by : Kang Nam Lee
Download or read book Financial Liberalization and Monetary Policy written by Kang Nam Lee and published by . This book was released on 1990 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Liberalization in Korea by : Basil J. Moore
Download or read book Financial Liberalization in Korea written by Basil J. Moore and published by . This book was released on 1989 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
