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Chaebol, financial liberalization, and economic crisis : Transformation of quasi-internal organization in Korea

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  • Chaebol, financial liberalization, and economic crisis
  • Lee, Chung H.; Lee, Keun; Lee, Kangkook
  • University of Hawaii


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Title Chaebol, financial liberalization, and economic crisis
Similar Titles
Sub Title

Transformation of quasi-internal organization in Korea

Material Type Articles
Author(English)

Lee, Chung H.; Lee, Keun; Lee, Kangkook

Publisher

[Honolulu]:University of Hawaii

Date 2000
Pages 31
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Financial Policy
Holding University of Hawaii

Abstract

The manner in which the post-1993 financial deregulation and liberalization were carried out in Korea was endogenously determined, being largely influenced by the interest politics of perhaps the most powerful interest group in Korea, chaebol. It thus follows that the cause of Korea’s financial crisis of 1997-98 cannot be analyzed without first examining the influence of chaebol on financial liberalization. The paper concludes that financial liberalization undertaken in a haphazard manner, manipulated by a few dominant players in the economy runs into the danger of producing an outcome worse than before.