Tokobuku Faisal Mustaffa

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The Post-Crisis Changes in the Financial System in Korea:

The Post-Crisis Changes in the Financial System in Korea: Problems of Neoliberal Restructuring and Financial Opening After 1997


This paper looks at the structural changes in the South Korean financial system over the years and how they have influenced the course of development in one of East Asia’s largest economies. For some 30 years from the early 1960s, a state-led financial system played a key role in propelling Korea’s rapid economic growth by allocating financial resources in line with the government’s industrial policy priorities. However, this system unravelled in the 1990s as the government implemented financial liberalization measures – measures which would give rise to financial fragility culminating in a severe financial crisis in 1997.

Book Detail

Kang-Kook Lee
Publisher: Third World Network
Year: 2010
ISBN: 9789675412080
62 Pages

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