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Chaebols, financial liveralization, and economic crisis : Transformation of quasi-internal orgaization in Korea
- Chaebols, financial liveralization, and economic crisis
- Lee,Chung H; Lee,Keun; Lee, Kangkook
- University of Hawaii
| Title |
Chaebols, financial liveralization, and economic crisis
Similar Titles
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|---|---|
| Sub Title | Transformation of quasi-internal orgaization in Korea |
| Material Type | Report |
| 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.
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