Financial Repression, Liberalization, Crisis and Restructuring: Lessons of Korea's Financial Sector Policies

Korea' financial sector has gone through heavy repression, liberalization, crisis, and restructuring during the last half century. Financial sector policy played a key role in the country' development strategy. The evolution of financial sector policies and the financial sector itself were strongly affected by the country' economic development strategy in each period, and in turn, affected the path of its economic development. To a large extent, Korea' financial history during the past 50 years is the story of its economic development. This paper draws some lessons from the Korean experience in financial sector policy and financial sector development.

The views expressed in this paper are the views of the authors and do not necessarily reflect the views or policies of the Asian Development Bank Institute (ADBI), the Asian Development Bank (ADB), its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms..

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1. Tran
   (posted 02 August 2008 / 12:27:21 AM)
   
   This is really excellent working paper. Thank ADB Institute and Professor Cho, Joon Je very much for producing such worth-reading paper!