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

Seoul Journal of Economics, Vol. 24, No. 4, pp. 495-524, 2011

30 Pages Posted: 8 Dec 2011

See all articles by Jaewoo Lee

Jaewoo Lee

International Monetary Fund (IMF) - Research Department

Kyungsoo Kim

Sungkyunkwan University

Date Written: November 30, 2011

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.

Keywords: Inflation, Liberalization, Small open economy

JEL Classification: E4, E5, F4

Suggested Citation

Lee, Jaewoo and Kim, Kyungsoo, Monetary Policy of the Bank of Korea During the First 60 Years (November 30, 2011). Seoul Journal of Economics, Vol. 24, No. 4, pp. 495-524, 2011. Available at SSRN: https://ssrn.com/abstract=1968754

Jaewoo Lee (Contact Author)

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-7331 (Phone)
202-623-6334 (Fax)

Kyungsoo Kim

Sungkyunkwan University ( email )

110-745 Seoul
Korea
+82-2-760-0431 (Phone)

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