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Monetary and Financial System

In: Historical Statistics of Korea

Author

Listed:
  • Young Mok Bae

    (Chungbuk National University)

  • Hun-Chang Lee

    (Korea University)

  • Myunghwi Lee

    (Ewha Womans University)

Abstract

On acquiring Korea as a protectorate in 1905, Japan enforced a comprehensive monetary reform putting an end to the currency chaos caused by debasement to introduce a system where not only metallic currency but also paper money and deposits functioned as a medium of payment. The monetary reform from 1905 to 1909 also marked the integration of Korea into the yen bloc with the notes issued by the central bank of colonial Korea being freely convertible into the Japanese yen at a fixed exchange rate of 1:1. Hence, monetary and financial statistics for Korea typically start from around 1905. Key sources of monetary and financial statistics for colonial Korea include the Statistical Yearbook of Colonial Korea and the Handbook of Financial Statistics. The South Korean authorities made money and banking statistics available through the Yearbook of Economic Statistics.

Suggested Citation

  • Young Mok Bae & Hun-Chang Lee & Myunghwi Lee, 2022. "Monetary and Financial System," Studies in Economic History, in: Myung Soo Cha & Nak Nyeon Kim & Ki-Joo Park & Yitaek Park (ed.), Historical Statistics of Korea, chapter 0, pages 983-1070, Springer.
  • Handle: RePEc:spr:stechp:978-981-15-3874-2_19
    DOI: 10.1007/978-981-15-3874-2_19
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