| Budget Amount *help |
¥2,960,000 (Direct Cost: ¥2,600,000、Indirect Cost: ¥360,000)
Fiscal Year 2007: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2006: ¥1,400,000 (Direct Cost: ¥1,400,000)
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| Research Abstract |
This research insists that the political party be an important element to influence the economic policy by clarifying the reason why the correspondences to the serious finance crises which attacked Japan and South Korea in 1997 are greatly different, and presents a new perspective in the financial policy decision process.
1. We investigated timing and the scale of the demand expansionist policy in South Korea. The demand expansion has been generated on a large scale in 1999. We found that the information technology policy of the Kim Dae-jung administration is greatly related in this. That is, to expand electronic dealings, she encouraged the use of the credit card. Consumption has expanded because the credit cards were excessively used by consumers. However, credit card-caused bankruptcy come one after another, which needed an economic adjustment phase for the start of the Roh Moo-hyun administration.
2. We investigated the city banks' restructuring in South Korea in the first adjustment
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in 1998 and the 2nd adjustment and the mega-bank reorganization in 1999. In the first adjustment, we discovered a compulsory shape to deprive of the management right of the city banks that failed bankruptcy. In the second adjustment and the mega-bank reorganization, as a result of the first adjustment, the government had grasped the management rights of banks. From this point, as Jung says, the financial reform was done by a national initiation by the developmentalist way Korean government had done before. However, the view of the government has been greatly converted from the maintenance of domestic financial order and the supply of the industrial fund unlike before 1997. It was clarified that the following two influenced this conversion. First, the foreign capital participated in the financial institutions in South Korea, which introduced a new standard of bank-management. Second, the intention of the general voters who favored the bank management by the way the foreign capital likes was woven to the administration through the political party. Less
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