The analysis shows how financial development has occurred in two distinct phases. Initially, interest rates were regulated to remain below market levels, entry of new financial institutions was restricted, financial markets were segmented, and domestic finance was insulated from world financial markets. The second phase has seen a steady, if sometimes slow, removal of these restrictionsYUNG CHUL PARK is a professor of economics at Korea University, Seoul, and the president of the Korea Institute of Finance. ... of Economic Research at Korea University and a visiting professor at Harvard University, its Institute for International Development, and a ... the University of Suwon in Suwon, Korea, and a visiting scholar at the Salomon Center, Stern School of Business, New York University.
|Title||:||The Financial Development of Japan, Korea, and Taiwan|
|Author||:||Hugh T. Patrick, Yung Chul Park|
|Publisher||:||Oxford University Press on Demand - 1994|