IDEAS home Printed from https://ideas.repec.org/a/sae/reorpe/v38y2006i3p381-387.html
   My bibliography  Save this article

The Effects of Neoliberal “Reforms†on the Postcrisis Korean Economy

Author

Listed:
  • James Crotty

    (Political Economy Research Institute, University of Massachusetts Amherst, 418 North Pleasant Street, Amherst, MA 01002-1735, crotty@econs.umass.edu)

  • Kang-Kook Lee

    (Ritsumeikan University, Japan, leekk@ec.ritsumei.ac.jp)

Abstract

In December 1997, the IMF offered Korea loans. In return, Korea had to undergo radical neoliberal restructuring. Since 1997, growth has slowed, poverty and inequality have risen, investment spending has stagnated, and foreign ownership of Korean firms and banks has skyrocketed. We argue that the eight-year experiment with radical neoliberal restructuring has been a failure for the majority of Korea’s people.

Suggested Citation

  • James Crotty & Kang-Kook Lee, 2006. "The Effects of Neoliberal “Reforms†on the Postcrisis Korean Economy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 38(3), pages 381-387, September.
    • Handle: RePEc:sae:reorpe:v:38:y:2006:i:3:p:381-387
    as

    Download full text from publisher

    File URL: http://rrp.sagepub.com/content/38/3/381.abstract
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Simplice A. Asongu & Mohamed Jellal, 2014. "Foreign aid, investment and fiscal policy behavior: theory and empirical evidence," Research Africa Network Working Papers 14/030, Research Africa Network (RAN).
    2. Simplice Asongu & Mohamed Jellal, 2016. "Foreign Aid Fiscal Policy: Theory and Evidence," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 58(2), pages 279-314, June.
    3. Asongu, Simplice A & Jellal, Mohamed, 2014. "International aid, corruption and fiscal policy behavior," MPRA Paper 58750, University Library of Munich, Germany.
    4. Simplice Asongu, 2014. "The Questionable Economics of Development Assistance in Africa: Hot-Fresh Evidence, 1996–2010," The Review of Black Political Economy, Springer;National Economic Association, vol. 41(4), pages 455-480, December.
    5. Jie Li & Han Yu, 2014. "Income inequality and financial reform in Asia: the role of human capital," Applied Economics, Taylor & Francis Journals, vol. 46(24), pages 2920-2935, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:reorpe:v:38:y:2006:i:3:p:381-387. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.urpe.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.