Financial Transformation in South Korea

This paper addresses why and how South Korea’s financial system has diverged drastically from the Japanese model since the early 1980s and has turned to the US model, which is often regarded as a more market-oriented financial system. The paper traces the rise of American-trained Korean economists i...

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Bibliographic Details
Published in:Asian survey 2018-08, Vol.58 (4), p.635-659
Main Author: Kang, Myung-Koo
Format: Article
Language:English
Online Access:Get full text
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Summary:This paper addresses why and how South Korea’s financial system has diverged drastically from the Japanese model since the early 1980s and has turned to the US model, which is often regarded as a more market-oriented financial system. The paper traces the rise of American-trained Korean economists in the Economic Planning Board and their collaboration with other such economists in public and private economic institutes and academia.
ISSN:0004-4687
1533-838X
DOI:10.1525/as.2018.58.4.635