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|Other Titles: ||A Study on Comparison between the Financial Crisis in Korea and the Heisei's Financial Deflation in Japan'|
|Authors: ||内藤, 純一|
|Issue Date: ||30-Jun-2003|
|Citation: ||経済科学. v.51, n.1, 2003, p.1-29|
|Abstract: ||Korea was seriously hit by the financial crisis in the autumn of 1997 along with the other Asian countries. Subsequently, however, it has achieved its financial recovery so quickly beyond all expectations by inducing foreign capitals actively. After the crisis in 1997, Korea seemed to have changed its policy-stance under its government-led regime based on regulations and to have accepted the IMF scheme placing much importance on liberalization and deregulation. Korea may be regarded as a rare successful example of the IMF policy proposal based on the new classical economic theory, which was strongly criticized by the other Asian countries. In this paper, however, I would like to insist that the government’s active role has contributed vitally to its remarkable financial recovery rather than the liberal policy. As evidences for my view, I referred to the background of the financial crisis in Korea and its sequent developments as well as to its revitalization measures for both finance and industry. Lastly, comparing differences between Japanese and Korean economic structures, I would like to indicate what are the key factors of problems in Korea and Japan respectively.|
|Appears in Collections:||経済科学 (The Economic Science)|
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