The Change of the Financial System and Developmental State in Korea
Published By: UNU-WIDER on eSS | Published Date: February, 13 , 1999This study examines the role of institutions and their change related to the rapid economic
development and the 1997 Korean financial crisis. In Korea, the government built a state-
led financial system through the 1960s and 1970s and a specific government-bank-business
relationship based on it. It promoted economic growth by allocating financial resources
controlled by it to targeted industries or firms, with discipline over business achieved
through these institutions. [Research in Progress 19]
Author(s): Kang-Kook Lee | Posted on: Dec 13, 2010 | Views(708) | Download (784)