콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Economic Administration
Economy Economic System

Print

The IMF rescue program in Korea : What went wrong?

Related Document
Frame of Image
  • The IMF rescue program in Korea
  • Lee, Hyun-Hoon
  • The Association of Korean Economic Studies


link
Title The IMF rescue program in Korea
Similar Titles
Sub Title

What went wrong?

Material Type Articles
Author(English)

Lee, Hyun-Hoon

Publisher

[Seoul]:The Association of Korean Economic Studies

Date 2001
Journal Title; Vol./Issue The Journal of the Korean Economy:vol. 2(no. 1)
Pages 18
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Economy < Economic System
Holding AKES

Abstract

The International Monetary Fund (IMF) has recently received heavy criticism for its handling of the Asian financial crises in 1997. Among others, focus has been put upon the IMF's macroeconomic stabilisation measures of tight monetary policy and fiscal policy, and more fundamental measures of structural reform. The purpose of this paper is to clarify the ongoing debate on the role of the IMF in the Asian financial crisis, with special reference to the case of Korea. Most critics of the IMF claim that there is no fundamental reason for the Asian financial crisis except financial panic itself. Using the analogy between human stroke and financial crisis, however, this paper admits that fundamental weaknesses have accumulated in Korea and this, along with other causes, contributed to the occurrence of the financial crisis. (The rest omitted)