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Popular Reaction to the Intervention by the IMF in the Korean Economic Crisis

Bernd Hayo () and Doh Shin

Journal of Economic Policy Reform, 2002, vol. 5, issue 2, 89-100

Abstract: The International Monetary Fund (IMF) has played an important role in restructuring the Korean economy over the past three years. Relying upon survey data collected in 1998 and 1999, we explore the role of the IMF in Korea as perceived by its citizens. In the eyes of the Korean people, the IMF helped their economy to recover from the crisis. However, those Koreans who experience a decline in their income are critical of the IMF's role in their economy. Finally, our analysis reveals that the generally pro-IMF orientation of most Korean people has little to do with their support for a market-oriented reform program.

Date: 2002
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DOI: 10.1080/13841280214095

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