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Financial structure and economic growth in Korea

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  • Financial structure and economic growth in Korea
  • Jo, Gab-Je
  • The Association of Korean Economic Studies


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Title Financial structure and economic growth in Korea
Similar Titles
Material Type Articles
Author(English)

Jo, Gab-Je

Publisher

[Seoul]:The Association of Korean Economic Studies

Date 2002
Journal Title; Vol./Issue The Journal of the Korean Economy:vol. 3(no. 1)
Pages 20
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic Conditions
Holding AKES

Abstract

The paper investigates the relative role of financial structure variables, particularly banking and stock market, on economic growth in Korea. One of the empirical findings of this study shows that as financial liberalization progresses, Korea’s financial sector has gradually moved from a bank-based financial system, to a market-based financial system, with the development of stock markets since the 1980s. Another finding is that the relative role of stock market on real growth has substantially increased, whereas the banking sector have not played a positive role in promoting economic growth recently. Also, the equity market has become a leading indicator of real output, helping predict real GDP growth.