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Monetary policy of the Bank of Korea during the first sixty years

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Frame of Image e n M ac r o e c o n o m i c s D i v i s i o n o f t h e I M F Research Departm ent. We appreciate comm ents by participants in the Bank of Korea 2010 Conference, the seminar in the Korea University, and the 18thSeoul Journal of Econom ics International Sym posium in the Seoul National University, and in particular by Andrew Filardo, Stan Fischer, Dong soo Kang, Jun Il Kim, So young Kim, Kwan ho Shin, and Woon Shin. This paper is based on personal views of both authors as macro econom ists, and does not necessarily reflect the views or policies of the Bank of Korea or the IM F. The views expressed here in should not be attributed to the IMF, its Executive Board, or its management.
Contents
Ⅰ. Introduction ······························································································ 1 Ⅱ. Overview of History ··············································································· 2 Ⅲ. War and its Aftermath ········································································· 5
1. Chronology (1950-1964) ················································································ 5 2. Unpleasant Monetarist Arithmetic ································································· 5
Ⅳ. Big Push ·································································································· 6
1 Chronology (1965-1984) ················································································· 6 2 Dual Financial Market―Financial Repression an


Full Text
Title Monetary policy of the Bank of Korea during the first sixty years
Similar Titles
Material Type Reports
Author(English)

Kim, Kyungsoo; Lee, Jaewoo

Publisher

[Seoul]:The Bank of Korea(Institute for Monetary and Economic Research)

Date 2011-02
Pages 53
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding The Bank of Korea; KDI School

Abstract

This paper provides an analytic overview of the history of monetary policy in Korea, since the founding of the Bank of Korea in June 1950 through the Spring of 2010. In light of the dramatic socio-economic transformation over this period, the sixty years are divided into four phases which provided a different environment for the conduct of monetary policy. An organizing analytical framework is proposed for each phase, with the hope of facilitating further research.