Monetary Policy of the Bank of Korea during the First 60 Years
0
조회
0
다운로드
1
인용
0
참고문헌
키워드
초록
The current paper provides an analytic overview of the history of monetary policy in Korea, since the founding of the Bank of Korea in June 1950 through the spring of 2010. In light of the dramatic socio-economic transformation over this period, the 60 years are divided into four phases, which provided a different environment for the conduct of monetary policy. An organizing analytical framework is proposed for each phase, with the hope of facilitating further research.
Abstract
The current paper provides an analytic overview of the history of monetary policy in Korea, since the founding of the Bank of Korea in June 1950 through the spring of 2010. In light of the dramatic socio-economic transformation over this period, the 60 years are divided into four phases, which provided a different environment for the conduct of monetary policy. An organizing analytical framework is proposed for each phase, with the hope of facilitating further research.
참고문헌 (34)
- Aizenman, Joshua, "International Reserves: Precaution- ary vs. Mercantilist Views", Theory and Evidence, Open Economies Review, 18(2), pp.191~214 (2007)
- Economic Statistics Since Independence, "Bank of Korea", ~ (2005)
- Barro, Robert J, "Determinants of Economic Growth: A Cross-Country Empirical Study" (1998), The MIT Press
- Blanchard, Olivier J., "The Impact Effect of Crisis on Emerging Market Countries" (2010), BPEA
- Caballero, Ricardo J, "Sudden Financial Arrest", IMF Economic Review, 58(1), pp.6~36 (2010)
- Caballero, Ricardo J., "Contingent Reserves Management: An Applied Framework, The Central Bank of Chile", Journal Economia Chilena, 8(2), pp.45~56 (2005)
- Credit Policies and the Industri- alization of Korea, "Cho, Yoon Je", World Bank, ~ (1995)
- Clarida, Richard, "Monetary Policy and Macroeconomic Stability: Evidence and Some Theory", Quarterly Journal of Economics, 115(1), pp.147~180 (2000)
- Coe, David T., "Korean Crisis and Recovery" (2002), International Monetary Fund
- Cole, David C., "Financial Development in Korea 1945-1978" (1983), Harvard University Press
- Inflation Targeting and the Crisis: An Em- pirical Assessment, "De Carvalho Filho", IMF, ~ (2010)
- Dornbusch, Rudiger, "Latin Triangle" (1996), MIT mimeo
- Fischer, Stanley, "Globalization and Its Challenges", American Economic Review, 93(2), pp.1~30 (2003)
- Gerschenkron, Alexander, "Economic Backwardness in Historical Perspectives" (1962), Harvard University Press
- Giovannini, Alberto, "Government Revenue from Financial Repression", American Economic Review, 83(4), pp.953~963 (1993)
- Hoshi, Takeo, "Growth and Structural Changes in Korea’s Financial Sector, 1985-2008", pp.2010, Harvard
- Kim, Kyungsoo, "Panel Approach to Efficient Early Warning System" (2006), Sungkyunkwan University, Mimeo
- Kim, Kyungsoo, "Korea's Financial Market and Policies" (2008), Mimeo
- Kim, Kyungsoo, "Macroeconomic Vulnerability of Small Open Economy" (2009), The Federation of Korean Industries
- Kim,Kyungsoo, "Dealing with the Benefits and Costs of Internationalization of Korean Won" (2010), Mimeo
- Kim, Soyoung, "Inflation Targeting in Korea: a Model of Success? In Monetary Policy in Asia: Approaches and Implementation", Proceedings of a BIS, 2006, ~[DOI]
- Insurance Value of International Reserves: An Option Pricing Approach, "Lee, Jaewoo", IMF, ~ (2004)
- Lee, Jaewoo, "External Balances in Five Asian Countries, In China and Asia: Economic and Financial Interactions", pp.99~112 (2009), Routledge
- Lee, Jaewoo, "Option Pricing Approach to International Reserves", Review of International Economics, 17(4), pp.844~860 (2009)
- Obstfeld, Maurice, "Financial Stability, the Trilemma, and Internatioanl Reserves", American Economic Journal: Macroeconomics, 2(2), pp.57~94 (2010)
- Capital Inflows: The Role of Controls, "Ostry, Jonathan D.", IMF, ~ (2010)
- Reinhart, Carmen, "This Time is Different: Eight Centuries of Financial Folly" (2009), Princeton University Press
- Sargent, Thomas J., "Some Unpleasant Monetarist Arithmetic", Federal Reserve Bank of Minneapolis Quarterly Review, 9(1), pp.15~31 (1981)
- Shaw,Edward, "Financial Deepening in Economic Development" (1973), Oxford University Press
- Shin, Kwhanho, "Assessment of Monetary and Exchange Rate Policy after the Crisis", The Korean Economic Review, 55(4), pp.275~312 (2007)
- Taylor, John, "Discretion versus Policy Rule in Pratice", Carnegie- Rochester Conferences Series on Public Policy, 39(1), pp.195~214 (1993)
- Walsh,Carl E, "Monetary Theory and Policy" (1998), MIT Press
- Woo,Jung-en, "Race to the Swift:State and Finance in Korean Industrialization" (1991), Columbia University Press
- "World Economic Outlook" (2010), International Monetary Fund
