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An evaluative anlaysis of Korean legislative development in relation with economic growth : Establishment of the capital market

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Title An evaluative anlaysis of Korean legislative development in relation with economic growth
Similar Titles
Sub Title

Establishment of the capital market

Material Type Reports
Author(English)

Cho, Hye Shin

Publisher

[Sejong]:Korea Legislation Research Institute

Date 2012-07
Series Title; No 법제교류연구 / 12-21-2-1
Pages 107
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Economy < Others
Government and Law < Laws and Legislation
Holding Korea Legislation Research Institute

Abstract

In Korea, the role played by the financial ministry in the course of the governmental-led economic development from the 1960s was called “governmental-led financial operation” or “policy financing.” Such expressions point to the close partnership between the government and private businesses. The government had such a powerful political and economic influence that it could close businesses outright or rejuvenate failing ones, so business earnestly cooperated with the government. The government helped businesses grow based on diligence and adventurism, while trying to control them in a way it found appropriate. Such a firm relationship between the government and business formed through financial policy.
As a country with an extremely limited capital base, Korea used such a method effectively, and the experience has formed the basis of the achievement made by the country. (The rest omitted)