Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam

Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam

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Masterarbeit aus dem Jahr 2007 im Fachbereich VWL - Konjunktur und Wachstum, , Sprache: Deutsch, Abstract: Basically, the Koreaa€™s financial sector has gone through three development period under two different types of financial systems. During these three periods, in theory, two financial systems were applied into the Koreaa€™s financial sector: the relationship-based (or state-led) system (from 1960s to late 1980s) and the market-based system (after late 1980s till now). But in fact, due to the differences in applying the market style into Korea, we can see in the second systema€™s time, there was obviously two periods, the period of a€˜gradualisma€™ and the period of a€˜Big Banga€™ with the turning point is in 1997. Therefore, it is better to define the history of Koreaa€™s financial development into three periods. The first period started from early 1960s (after the military coup which brought Park Chung Hee to the position of President) to the late 1980s, in which Koreaa€™s economy was under the relationship-based system; the second period lasted from late 1980s to 1997 when the financial crisis occurred due to wrong policies under a€˜gradualisma€™ and bad effects of the first period; and the last period started from 1997 up to now when Korea take a€˜Big Banga€™ approach to cure its illness after the failure in 1997. Researching the evolution of Koreaa€™s financial system during the three periods as a whole process is important to collect experiences for under-developing country such as Vietnam to improve its financial system. Even though the conditions of Vietnam and Korea are different, but still, the logic behind each policy that the Korean government used in the past will be a big help to Vietnam as well as finding out the reasons of the failures that Korea did not avoid.Contributed to this success, the Koreaa#39;s financial sector has had a very important role. In the period 1960s ... To answer these questions, a research about the Koreaa#39;s financial sector from 1960s up to now is needed. And if we can answeranbsp;...


Title:Korea’s Experiences in reforming the Financial Sector toward a Marked-Based System and Lessons for Vietnam
Author: Dang Thanh Ngo
Publisher:GRIN Verlag - 2012-01-30
ISBN-13:

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