Chaebols, Financial Liberalization, and Economic Crisis: Transformation of Quasi-Internal Organization in Korea

Chung H Lee, Keun Lee () and Kangkook Lee

MPRA Paper from University Library of Munich, Germany

Abstract: This paper argues that the course and outcome of the post-1993 financial reform in Korea were largely influenced by the interest politics of the most powerful interest group in Korea, chaebols, and thus an examination of their influence is essential to understanding the cause of Korea’s financial crisis of 1997-98. The paper concludes that a financial reform undertaken in a haphazard manner, manipulated by a few dominant players in the economy runs into the danger of producing an outcome worse than before.

Keywords: financial liberalization; Asian crisis; Chaebols; political economy. (search for similar items in EconPapers)
JEL-codes: E6 F3 F6 L1 (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (11)

Published in Asian Economic Journal 1.16(2002): pp. 17-35

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Related works:
Working Paper: Chaebol, Financial Liberalization, and Economic Crisis: Transformation of Quasi-Internal Organization in Korea (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:109950

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