본문 바로가기
KERD
논문KCI 등재

Monetary Policy of the Bank of Korea during the First 60 Years

0

조회

0

다운로드

1

인용

0

참고문헌

키워드

주제분류경제학

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)

  1. Aizenman, Joshua, "International Reserves: Precaution- ary vs. Mercantilist Views", Theory and Evidence, Open Economies Review, 18(2), pp.191~214 (2007)
  2. Economic Statistics Since Independence, "Bank of Korea", ~ (2005)
  3. Barro, Robert J, "Determinants of Economic Growth: A Cross-Country Empirical Study" (1998), The MIT Press
  4. Blanchard, Olivier J., "The Impact Effect of Crisis on Emerging Market Countries" (2010), BPEA
  5. Caballero, Ricardo J, "Sudden Financial Arrest", IMF Economic Review, 58(1), pp.6~36 (2010)
  6. Caballero, Ricardo J., "Contingent Reserves Management: An Applied Framework, The Central Bank of Chile", Journal Economia Chilena, 8(2), pp.45~56 (2005)
  7. Credit Policies and the Industri- alization of Korea, "Cho, Yoon Je", World Bank, ~ (1995)
  8. Clarida, Richard, "Monetary Policy and Macroeconomic Stability: Evidence and Some Theory", Quarterly Journal of Economics, 115(1), pp.147~180 (2000)
  9. Coe, David T., "Korean Crisis and Recovery" (2002), International Monetary Fund
  10. Cole, David C., "Financial Development in Korea 1945-1978" (1983), Harvard University Press
  11. Inflation Targeting and the Crisis: An Em- pirical Assessment, "De Carvalho Filho", IMF, ~ (2010)
  12. Dornbusch, Rudiger, "Latin Triangle" (1996), MIT mimeo
  13. Fischer, Stanley, "Globalization and Its Challenges", American Economic Review, 93(2), pp.1~30 (2003)
  14. Gerschenkron, Alexander, "Economic Backwardness in Historical Perspectives" (1962), Harvard University Press
  15. Giovannini, Alberto, "Government Revenue from Financial Repression", American Economic Review, 83(4), pp.953~963 (1993)
  16. Hoshi, Takeo, "Growth and Structural Changes in Korea’s Financial Sector, 1985-2008", pp.2010, Harvard
  17. Kim, Kyungsoo, "Panel Approach to Efficient Early Warning System" (2006), Sungkyunkwan University, Mimeo
  18. Kim, Kyungsoo, "Korea's Financial Market and Policies" (2008), Mimeo
  19. Kim, Kyungsoo, "Macroeconomic Vulnerability of Small Open Economy" (2009), The Federation of Korean Industries
  20. Kim,Kyungsoo, "Dealing with the Benefits and Costs of Internationalization of Korean Won" (2010), Mimeo
  21. Kim, Soyoung, "Inflation Targeting in Korea: a Model of Success? In Monetary Policy in Asia: Approaches and Implementation", Proceedings of a BIS, 2006, ~[DOI]
  22. Insurance Value of International Reserves: An Option Pricing Approach, "Lee, Jaewoo", IMF, ~ (2004)
  23. Lee, Jaewoo, "External Balances in Five Asian Countries, In China and Asia: Economic and Financial Interactions", pp.99~112 (2009), Routledge
  24. Lee, Jaewoo, "Option Pricing Approach to International Reserves", Review of International Economics, 17(4), pp.844~860 (2009)
  25. Obstfeld, Maurice, "Financial Stability, the Trilemma, and Internatioanl Reserves", American Economic Journal: Macroeconomics, 2(2), pp.57~94 (2010)
  26. Capital Inflows: The Role of Controls, "Ostry, Jonathan D.", IMF, ~ (2010)
  27. Reinhart, Carmen, "This Time is Different: Eight Centuries of Financial Folly" (2009), Princeton University Press
  28. Sargent, Thomas J., "Some Unpleasant Monetarist Arithmetic", Federal Reserve Bank of Minneapolis Quarterly Review, 9(1), pp.15~31 (1981)
  29. Shaw,Edward, "Financial Deepening in Economic Development" (1973), Oxford University Press
  30. Shin, Kwhanho, "Assessment of Monetary and Exchange Rate Policy after the Crisis", The Korean Economic Review, 55(4), pp.275~312 (2007)
  31. Taylor, John, "Discretion versus Policy Rule in Pratice", Carnegie- Rochester Conferences Series on Public Policy, 39(1), pp.195~214 (1993)
  32. Walsh,Carl E, "Monetary Theory and Policy" (1998), MIT Press
  33. Woo,Jung-en, "Race to the Swift:State and Finance in Korean Industrialization" (1991), Columbia University Press
  34. "World Economic Outlook" (2010), International Monetary Fund

관련 논문AI추천

이 간행물의 다른 논문 (6건)