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Property Rights, Development, and Financial Markets in South Korea

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Authors
Veit, Wolfgang
Issue Date
1989-09
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.2 No.3, pp. 287-316
Keywords
Property-Rightssocial contractCoase-theorem
Abstract
Property-rights describe the rights individuals have over material and immaterial goods. From the point of view of the property rights approach, a financial market is primarily a market for "rights to exchange something (money) for goods". Efficiency in this market depends largely on the information available to intermediaries like banks and other financial institutions. Regulation of financial markets was at the heart of Korea's economic strategies for more than two decades. Here, the distribution of property-rights by the government was supporting export industries and at the same time hindering balanced development of the economic structure.
ISSN
1225-0279
Language
English
URI
https://hdl.handle.net/10371/879
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.02(3) (Fall 1989)
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