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Economic development and financial liberalization in Korea : Policy reforms and future prospects

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Title Economic development and financial liberalization in Korea
Similar Titles
Sub Title

Policy reforms and future prospects

Material Type Reports
Author(English)

Kim, Joong-woong

Publisher

[Seoul]:Korea Development Institute

Date 1985-12
Series Title; No Working Paper / 8514
Pages 66
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Economy < Economic Administration
Holding KDI; KDI School

Abstract

Together with the modernization of the economy, the financial sector has continued to evolve through a diversification of the financial services and functions of financial intermediaries. In comparison with foreign countries which are at a similar stage of development to Korea, Korea's financial sector still remains underdeveloped in many respects.
The financial reform in the early eighties has contributed greatly to the efficiency of the financial industry. A series of policy measures, including the government decision to relinquish its equity holdings I commercial banks, the opening of newcomers' participation in the money market and mutual savings industry, and the lessening of market segmentation among financial institutions, all represent the government's willingness to carry out financial reform. (The rest is omitted)