Popular Reaction to the Intervention by the IMF in the Korean Economic Crisis

Essen University Economics Dept. Working Paper No. 121

19 Pages Posted: 3 May 2002

See all articles by Bernd Hayo

Bernd Hayo

University of Marburg - School of Business & Economics

Doh Chull Shin

University of Missouri at Columbia - Department of Political Science

Multiple version iconThere are 2 versions of this paper

Date Written: April 2002

Abstract

The International Monetary Fund (IMF) has played an important role in restructuring the Korean economy over the past three years. Relying upon survey data collected in 1998 and 1999, this paper explores the role of the IMF in Korea, as perceived by its citizens. In the eyes of the Korean people, the IMF helped their economy to recover from the crisis. However, those Koreans who experience a decline in their income, are critical of the IMF intervention in their economy. Finally, our analysis of the public attitude data reveals that the pro-IMF orientations among the Korean people have little to do with their support for a market-oriented reform program.

Keywords: IMF, Korea, policy reform, financial crisis, public opinion

JEL Classification: O5, F3

Suggested Citation

Hayo, Bernd and Shin, Doh Chull, Popular Reaction to the Intervention by the IMF in the Korean Economic Crisis (April 2002). Essen University Economics Dept. Working Paper No. 121. Available at SSRN: https://ssrn.com/abstract=307639 or http://dx.doi.org/10.2139/ssrn.307639

Bernd Hayo (Contact Author)

University of Marburg - School of Business & Economics ( email )

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Marburg, D-35032
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Doh Chull Shin

University of Missouri at Columbia - Department of Political Science ( email )

309 Professional Bldg.
Columbia, MI 65211-6030
United States

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