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Popular Reaction to the Intervention by the IMF in the Korean Economic Crisis

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Author Info
BERND HAYO
DOH CHULL SHIN

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Abstract

The International Monetary Fund (IMF) has played an important role in restructuring the Korean economy over the past three years. Relying upon survey data collected in 1998 and 1999, we explore the role of the IMF in Korea as perceived by its citizens. In the eyes of the Korean people, the IMF helped their economy to recover from the crisis. However, those Koreans who experience a decline in their income are critical of the IMF's role in their economy. Finally, our analysis reveals that the generally pro-IMF orientation of most Korean people has little to do with their support for a market-oriented reform program.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal The Journal of Policy Reform.

Volume (Year): 5 (2002)
Issue (Month): 2 (January)
Pages: 89-100
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Handle: RePEc:taf:jpolrf:v:5:y:2002:i:2:p:89-100

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Related research
Keywords: Imf; Korea; Policy Reform; Financial Crisis; Public Opinion;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Chang, Ha-Joon, 1998. "Korea: The misunderstood crisis," World Development, Elsevier, vol. 26(8), pages 1555-1561, August. [Downloadable!] (restricted)
  2. Hayo, Bernd, 1999. "Knowledge and Attitude Towards European Monetary Union," Journal of Policy Modeling, Elsevier, vol. 21(5), pages 641-651, September. [Downloadable!] (restricted)
    Other versions:
  3. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May. [Downloadable!] (restricted)
  4. Chang, Ha-Joon & Park, Hong-Jae & Yoo, Chul Gyue, 1998. "Interpreting the Korean Crisis: Financial Liberalisation, Industrial Policy and Corporate Governance," Cambridge Journal of Economics, Oxford University Press, vol. 22(6), pages 735-46, November.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Bernd Hayo & Doh Shin, 2002. "Mass Attitudes Toward Financial Crisis and Economic Reform in Korea," Development and Comp Systems 0205003, EconWPA. [Downloadable!]
    Other versions:
  2. Ali Kutan & Brasukra Sudjana, 2003. "Investor reaction to IMF actions in the indonesian financial crisis," Journal of Policy Reform, Taylor and Francis Journals, vol. 6(3), pages 181-190, September. [Downloadable!] (restricted)
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This page was last updated on 2009-11-27.


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