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Mass Attidudes Toward Financial Crisis and Economic Reform in Korea

Author

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  • Bernd Hayo

    (Faculty of Business Administration and Economics, Philipps Universitaet Marburg)

Abstract

This paper gives an account of the financial crisis that took place in Korea from the point of view of the Korean population using survey data collected in 1998 and 1999. Although both, internal and external factors were blamed as causes, domestic factors were considered to be of greater importance. After identifying respondents as supporting either market-based or statebased reform strategies using factor analysis, various determinants of these alternative views are being analyzed within the framework of regression models. A particularly interesting result is that, contrary to theoretical assumptions and empirical evidence on other regions, it is political ideology and not individual economic determinants that helps to explain the respondents’ attitudes towards reform strategies in Korea.

Suggested Citation

  • Bernd Hayo, 2005. "Mass Attidudes Toward Financial Crisis and Economic Reform in Korea," Marburg Working Papers on Economics 200504, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    • Handle: RePEc:mar:volksw:200504
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    References listed on IDEAS

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    Cited by:

    1. Ehrmann, Michael & Stracca, Livio & Soudan, Michel, 2012. "Explaining EU citizens’ trust in the ECB in normal and crisis times," Working Paper Series 1501, European Central Bank.
    2. Hayo, Bernd & Ono, Hiroyuki, 2011. "Livelihood and care of the elderly: Determinants of public attitudes in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 25(1), pages 76-98, March.
    3. Khilji, Bashir Ahmad & Farrukh, Muhammad Umer & Iqbal, Mammona & Hameed, Shahzad, 2010. "The Impact of Recent Financial Recession on the Banking sector of Pakistan," MPRA Paper 30558, University Library of Munich, Germany, revised 05 Jan 2011.
    4. Migheli, Matteo, 2009. "The two sides of a ghost: Twenty years without the wall," POLIS Working Papers 125, Institute of Public Policy and Public Choice - POLIS.
    5. Jaok Kwon, 2019. "Globalization and Business Masculinities in South Korea: Top Managers in the Industrial Sector," Social Sciences, MDPI, vol. 8(12), pages 1-17, November.

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    More about this item

    Keywords

    South Korea; financial crisis; public opinion; economic reform strategies institution;
    All these keywords.

    JEL classification:

    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • F3 - International Economics - - International Finance

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