| Budget Amount *help |
¥3,100,000 (Direct Cost: ¥3,100,000)
Fiscal Year 2004: ¥1,300,000 (Direct Cost: ¥1,300,000)
Fiscal Year 2003: ¥1,800,000 (Direct Cost: ¥1,800,000)
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| Research Abstract |
The Financial Policy in South Korea dramatically changed in 1987. While in the age of Authoritarian dominance before 1987, it was converted according to the change in economic conditions, after her democratization, there was little no change basically in the policy though economic conditions were bad. Why?
This report approaches this question giving priority to the choices of political actors such as the president, Assembly members, and the bureaucrats. The relation between the president and the bureaucrats working on economic affairs belonging to Economic Planning Board, Ministry of Finance, and Ministry of Commerce and Industry is caught as the Principal-Agent relation. It is thought that the bureaucrats assist the president's decision making, and there was no big change in the point having taken part in the policy formation within the range that the president directs before the democratization and from now on. On the other hand, the president needed the Assembly approval in a lot of decision makings, so he had to face its members when he wanted to decide an important policy. Therefore, this report can conclude that the support base of the government party, which has changed from "YoChonYaDo " to "Regionalism" by her democratization, invented the difference of the result such as the change and the continuance of her financial policy. The change in the political party structure made the reflection of the public opinion into the Assembly more difficult than in the authoritarian age. Only the Kim Dae-jung administration that was able to secure the voters in a faithful, specific region exceptionally was able to change the policy, and succeeded in the escape from the financial crisis.
That is, the change and the continuance of the financial policy were due to president's intention performed corresponding to the change in the public opinion and the change in the political party structure.
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