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Mass Attitudes Toward Financial Crisis and Economic Reform in Korea

  • Bernd Hayo

    (University of Essen)

  • Doh Shin

    (University of Missouri)

This paper addresses an aspect of the financial crisis in South Korea that has not been dealt with in depth. The question that will be analyzed is: how does the general population perceive the crisis? In attempting to answer this question we rely on new representative survey data, covering the years 1998 and 1999. Specifically, respondents voice their opinion (a) regarding the causes of the crisis, (b) the potential agencies fostering a recovery, (c) the domestic versus international reform strategies involved, and (d) the government-or market-oriented reform programs involved. Given the importance of public support for economic reforms, some of the results of our research could prove to be of considerable value to Korean policy makers or advising international organizations.

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File URL: http://econwpa.repec.org/eps/dev/papers/0205/0205003.pdf
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Paper provided by EconWPA in its series Development and Comp Systems with number 0205003.

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Date of creation: 24 May 2002
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Handle: RePEc:wpa:wuwpdc:0205003
Note: Type of Document - Word; prepared on IBM
Contact details of provider: Web page: http://econwpa.repec.org

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  1. Chang, Ha-Joon, 1998. "Korea: The misunderstood crisis," World Development, Elsevier, vol. 26(8), pages 1555-1561, August.
  2. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March.
  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.
  4. John Williamson, 1994. "The Political Economy of Policy Reform," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 68.
  5. Hayo, Bernd & Shin, Doh Chull, 2002. "Popular reaction to the intervention by the IMF in the Korean economic crisis," IBES Diskussionsbeiträge 121, University of Duisburg-Essen, Institute of Business and Economic Studie (IBES).
  6. G�rard Roland, 2002. "The Political Economy of Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 29-50, Winter.
  7. 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.
  8. Morris Goldstein, 1998. "The Asian Financial Crisis," Policy Briefs PB98-1, Peterson Institute for International Economics.
  9. 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.
  10. 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.
  11. Stephan Haggard, 2000. "Political Economy of the Asian Financial Crisis, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 107.
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