Financial Liberalization and Economic Development in Korea, 1980-2020 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Liberalization and Economic Development in Korea, 1980-2020 write by . This book was released on 2022-03-07. Financial Liberalization and Economic Development in Korea, 1980-2020 available in PDF, EPUB and Kindle. 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.
Economic Development and Financial Liberalization in Korea
Economic Development and Financial Liberalization in Korea - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Economic Development and Financial Liberalization in Korea write by Joong-woong Kim. This book was released on 1985. Economic Development and Financial Liberalization in Korea available in PDF, EPUB and Kindle.
Institutions and Politics of Economic Policymaking
Institutions and Politics of Economic Policymaking - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Institutions and Politics of Economic Policymaking write by Kwangsok Oh. This book was released on 1994. Institutions and Politics of Economic Policymaking available in PDF, EPUB and Kindle.
Finance and Economic Development in Korea
Finance and Economic Development in Korea - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Finance and Economic Development in Korea write by Yŏng-chʻŏl Pak. This book was released on 2004. Finance and Economic Development in Korea available in PDF, EPUB and Kindle.
Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam
Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam write by Dang Thanh Ngo. This book was released on 2012-01-30. Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam available in PDF, EPUB and Kindle. 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.
