The Change of the Financial System and Developmental State in Korea

Kang-Kook Lee ()

Working Papers from eSocialSciences

Abstract: This 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]

Keywords: institutions; rapid economic development; Korea; financial system; firms (search for similar items in EconPapers)
Date: 2010-12
New Economics Papers: this item is included in nep-ban, nep-fdg and nep-his
Note: Institutional Papers
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