Mass Attidudes Toward Financial Crisis and Economic Reform in Korea
AbstractThis paper gives an account of the financial crisis that took place in Korea from the point of view of the Korean population using survey data collected in 1998 and 1999. Although both, internal and external factors were blamed as causes, domestic factors were considered to be of greater importance. After identifying respondents as supporting either market-based or statebased reform strategies using factor analysis, various determinants of these alternative views are being analyzed within the framework of regression models. A particularly interesting result is that, contrary to theoretical assumptions and empirical evidence on other regions, it is political ideology and not individual economic determinants that helps to explain the respondents’ attitudes towards reform strategies in Korea.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung) in its series Marburg Working Papers on Economics with number 200504.
Length: 38 pages
Date of creation: 2005
Date of revision:
South Korea; financial crisis; public opinion; economic reform strategies institution;
Other versions of this item:
- Bernd Hayo & Doh Shin, 2002. "Mass Attitudes Toward Financial Crisis and Economic Reform in Korea," Development and Comp Systems 0205003, EconWPA.
- O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies
- F3 - International Economics - - International Finance
This paper has been announced in the following NEP Reports:
- NEP-AFR-2006-05-27 (Africa)
- NEP-ALL-2006-05-27 (All new papers)
- NEP-FMK-2006-05-27 (Financial Markets)
- NEP-POL-2006-05-27 (Positive Political Economics)
- NEP-SEA-2006-05-27 (South East Asia)
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.:
- Stiglitz, Joseph E, 1999. "Responding to Economic Crises: Policy Alternatives for Equitable Recovery and Development," Manchester School, University of Manchester, vol. 67(5), pages 409-27, Special I.
- 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.
- Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March.
- Hayo, Bernd & Shin, Doh Chull, 2002.
"Popular reaction to the intervention by the IMF in the Korean economic crisis,"
121, University of Duisburg-Essen, Faculty for Economics and Business Administration.
- Bernd Hayo & Doh Chull Shin, 2002. "Popular Reaction to the Intervention by the IMF in the Korean Economic Crisis," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(2), pages 89-100.
- Bernd Hayo & Doh Chull Shin, 2002. "Popular Reaction to the Intervention by the IMF in the Korean Economic Crisis," Development and Comp Systems 0204001, EconWPA.
- Steven Radelet & Jeffrey D. Sachs, 1998. "The East Asian Financial Crisis: Diagnosis, Remedies, Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 1-90.
- G�rard Roland, 2002. "The Political Economy of Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 29-50, Winter.
- Morris Goldstein, 1998. "The Asian Financial Crisis," Policy Briefs PB98-1, Peterson Institute for International Economics.
- Chang, Ha-Joon, 1998. "Korea: The misunderstood crisis," World Development, Elsevier, vol. 26(8), pages 1555-1561, August.
- Stephan Haggard, 2000. "Political Economy of the Asian Financial Crisis, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 107.
- John Williamson, 1994. "The Political Economy of Policy Reform," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 68.
- Stephan Haggard & Robert Kaufman, 1989. "The Politics of Stabilization and Structural Adjustment," NBER Chapters, in: Developing Country Debt and the World Economy, pages 263-274 National Bureau of Economic Research, Inc.
- Ehrmann, Michael & Soudan, Michel & Stracca, Livio, 2012.
"Explaining EU Citizens' Trust in the ECB in Normal and Crisis Times,"
289, Institute for Advanced Studies.
- Ehrmann, Michael & Soudan, Michel & Stracca, Livio, 2012. "Explaining EU citizens’ trust in the ECB in normal and crisis times," Working Paper Series 1501, European Central Bank.
- Bernd Hayo & Hiroyuki Ono, 2009.
"Livelihood and Care of the Elderly: Determinants of Public Attitudes in Japan,"
MAGKS Papers on Economics
200912, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
- Hayo, Bernd & Ono, Hiroyuki, 2011. "Livelihood and care of the elderly: Determinants of public attitudes in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 25(1), pages 76-98, March.
- Migheli, Matteo, 2009. "The two sides of a ghost: Twenty years without the wall," POLIS Working Papers 125, Institute of Public Policy and Public Choice - POLIS.
- Khilji, Bashir Ahmad & Farrukh, Muhammad Umer & Iqbal, Mammona & Hameed, Shahzad, 2010. "The Impact of Recent Financial Recession on the Banking sector of Pakistan," MPRA Paper 30558, University Library of Munich, Germany, revised 05 Jan 2011.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bernd Hayo).
If references are entirely missing, you can add them using this form.