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Systems thinking in the management of Korean economic crisis

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  • Systems thinking in the management of Korean economic crisis
  • Kim, Dong-Hwan
  • System Dynamics Society


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Title Systems thinking in the management of Korean economic crisis
Similar Titles
Material Type Articles
Author(English)

Kim, Dong-Hwan

Publisher

[Albany]:System Dynamics Society

Date 1999
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Economy < Economic Administration
Government and Law < Political Science
Holding System Dynamics Society

Abstract

After the unanticipated financial crisis of Korea in 1997, lots of debates have been held on why and how it came upon. Most of debates including hearings of National Assembly focused their attention on why policy makers could not forecast and avoid the financial cirsis. No one, if any, asks whether or not there were systems thinking in the mind of economic policy makers, what was their theory in action that failed in managing the national financial crisis. This paper explores causal maps and systems thinking of the President of Korea who successfully managed the financial crisis. In this paper the causal map analysis of policy makers is proposed as a promising approach for in-depth investigation of systems thinking of policy makers.