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Property rights, development, and financial markets in South Korea

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  • Property rights, development, and financial markets in South Korea
  • Veit, Wolfgang
  • Seoul Journal of Economics


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Title Property rights, development, and financial markets in South Korea
Similar Titles
Material Type Articles
Author(English)

Veit, Wolfgang

Publisher

[Seoul]:Seoul Journal of Economics

Date 1989
Journal Title; Vol./Issue Seoul Journal of Economics:vol. 2(no. 3)
Pages 29
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Holding Seoul National University

Abstract

Property-rights describe the rights individuals have over material and immaterial goods. From the point of view of the property rights approach, a financial market is primarily a market for "rights to exchange something (money) for goods". Efficiency in this market depends largely on the information available to intermediaries like banks and other financial institutions. Regulation of financial markets was at the heart of Korea's economic strategies for more than two decades. Here, the distribution of property-rights by the government was supporting export industries and at the same time hindering balanced development of the economic structure.