Regulated Deregulation of the Financial System in Korea

摘要

The paper examines the anatomy of the Korean financial reform policy since 1979in order to place its financial reform plan of 1993 in the right perspective. The rest of the paper is organized as follows. Section II presents a conceptual framework of the Korean financial system and policy which underscores the institutional features of the Korean economy which facilitated a constructive and successful role that government played in its financial development. Interest rate reform in regard to structure, level and policies and credit allocation system changes undertaken in earlier phases are discussed in Section III and IV. The rationale of the final financial reform phase, sequencing order of its various elements and the assessment are contained in Section V. Section VI presents some broad conclusions.