Korea's financial development has been a tale of liberalization and opening but the new system has failed to steer the country away from financial crises. This study analyzes the changes in the financial system and finds that financial liberalization has contributed little to grow and stabilize the Korean economy.

Focusing on the formation of the Korean economic system, this book presents a fascinating and comprehensive analysis of economic development outside of the traditional neo-classical, developmental-state and dependency perspectives. It examines in detail the evolution of institutions that contributed to economic growth and the formation and the workings of the economic system. With an emphasis on the interaction between government, private institutions (Chaebol and financial institutions) and the influence of Japan, it offers one of the most stimulating and distinctive views of Korean economic development to date. It will be of key interest to scholars and researchers of financial growth and development, Asian finance, and regional and heterodox economics.

Provides an analysis of the Korean economic development and its future outlook. Covers the period from 1960 to 1992.

Lee, former South Korean government Minister of Labor for the South Korean government, discusses the country's economic development from 1945-1994 and the public policies that shaped it, arguing that if South Korea is to become a major economic power, the government should withdraw from the economic front line.

A study of the postwar developent of the South Korean financial sector tthrough 1978. A detailed description of the structure of the financial sector is provided, followed by discussions of Korea's regulated and unregulated financial institutions and markets, government policies to influence resource allocation and mobilization, price-stabilization problems and policies, and lessons from the Korean experience.