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Chaebols, financial liveralization, and economic crisis : Transformation of quasi-internal orgaization in Korea

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  • Chaebols, financial liveralization, and economic crisis
  • Lee,Chung H; Lee,Keun; Lee, Kangkook
  • University of Hawaii


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Title Chaebols, financial liveralization, and economic crisis
Similar Titles
Sub Title

Transformation of quasi-internal orgaization in Korea

Material Type Reports
Author(English)

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

Publisher

Hawaii, U.S : University of Hawaii

Date 2017
Pages 32
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic Conditions
Holding University of Hawaii
License

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.