Contrary Korea
Article Abstract:
The dismal performance of South Korea's ruling Democratic Liberal Party (DLP) in the Mar 24, 1992 legislative elections is expected to result in increased money supply, higher inflation and continued policy drift. In attempting to ensure a victory for its presidential candidate in the Dec 1992 elections, the LDP is expected to pump-prime the country's economy. However, opposition lawmakers are likely to subject the government's economic policies to some much-needed scrutiny.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Fiat money
Article Abstract:
The South Korean government moved to control the rise of call-market interest rates when it decreed on Apr 3, 1992 that call-market interest rates cannot rise above 15%. The move underscores the government's continued administrative impositions on the financial markets in spite of declarations about liberalisation. Very little has been done to allow free market forces to work, resulting in an overprotected but weak financial system.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Bankrupt of ideas
Article Abstract:
The South Korean government's closeness to the favored business corporations has come into play when the near-bankrupt Sammi Steel was saved through pressure exerted by the government on the banking system to tide the firm over. It is suggested that such a personalistic approach be replaced by an above-board and merit-based system to assure South Korea of its economic future.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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