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Mass Attidudes Toward Financial Crisis and Economic Reform in Korea

Bernd Hayo

No 200504, Marburg Working Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)

Abstract: This paper gives an account of the financial crisis that took place in Korea from the point of view of the Korean population using survey data collected in 1998 and 1999. Although both, internal and external factors were blamed as causes, domestic factors were considered to be of greater importance. After identifying respondents as supporting either market-based or statebased reform strategies using factor analysis, various determinants of these alternative views are being analyzed within the framework of regression models. A particularly interesting result is that, contrary to theoretical assumptions and empirical evidence on other regions, it is political ideology and not individual economic determinants that helps to explain the respondents’ attitudes towards reform strategies in Korea.

Keywords: South Korea; financial crisis; public opinion; economic reform strategies institution (search for similar items in EconPapers)
JEL-codes: O5 F3 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-afr, nep-fmk, nep-pol and nep-sea
Date: 2005
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http://www.uni-marburg.de/fb02/makro/forschung/gel ... kel/2005-04_hayo.pdf First version, 2005 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:mar:volksw:200504

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