Financial Sector Restructuring in South Korea: Accomplishments and Unfinished Agenda

Choong Yong Ahn and Baekin Cha
Additional contact information
Choong Yong Ahn: President, Korea Institute for International Economic Policy 300-4, Yumgok-Dong Seocho-Ku, Seoul South Korea 137-747
Baekin Cha: Director of Research, Korea Institute of Finance 6th Floor, KFB Bldg. 4-1, 1-Ga, Myong-Dong Chong-Ku, Seoul South Korea 100-021

Asian Economic Papers, 2004, vol. 3, issue 1, 1-21

Abstract: South Korea has undertaken major and far-reaching actions to rebuild and improve its financial sector since the financial crisis of 1997. Various measures to clean up the balance sheets of financial institutions have helped to normalize the financial system earlier than expected and have significantly eased the credit crunch. Despite the many significant changes in the South Korean economy brought about by financial reform, the country must continue with further improvements if it expects to build a stronger and more competitive financial industry that can thrive in the international market. To sustain the momentum of its initial reform effort, South Korea should institute additional financial reforms, eliminate moral hazard, and establish new market-based rules. Copyright (c) 2004 Center for International Development and the Massachusetts Institute of Technology.

Date: 2004
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.mitpressjournals.org/doi/pdfplus/10.1162/1535351041747987 link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tpr:asiaec:v:3:y:2004:i:1:p:1-21

Ordering information: This journal article can be ordered from
https://mitpressjour ... rnal/?issn=1535-3516

Access Statistics for this article

Asian Economic Papers is currently edited by Wing Thye Woo, Sungbae An, Fukunari Kimura and Ming Lu

More articles in Asian Economic Papers from MIT Press
Bibliographic data for series maintained by The MIT Press ().