Financial Liberalization and Economic Development in Korea, 1980–2020
«A welcome and ambitious volume.»
Peter J. Morgan, Developing Economies
Since the early 1980s, Korea's financial development has been a tale of liberalization and opening. After the 1997 financial crisis, great strides were made in building a market-oriented financial system through sweeping reforms for deregulation and the opening of financial markets. Les mer
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This study analyzes the deepening of and structural changes in Korea's financial system since the early 1980s and presents the empirical results of the effects of financial development on economic growth, stability, and the distribution of income. It finds that, contrary to conventional wisdom, financial liberalization has contributed little to fostering the growth and stability of the Korean economy and has exacerbated income distribution problems. Are there any merits in financial liberalization? The authors answer this query through empirical examinations of the theories of finance and growth. They point to a clear need to further improve the efficiency, soundness, and stability of Korean financial institutions and markets.
Detaljer
- Forlag
- Harvard University Press
- Innbinding
- Innbundet
- Språk
- Engelsk
- ISBN
- 9780674251281
- Utgivelsesår
- 2021
- Format
- 23 x 15 cm
Anmeldelser
«A welcome and ambitious volume.»
Peter J. Morgan, Developing Economies