By Yoon-Je Cho, Joon-Kyung Kim
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233 Land Reform and Farm Restructuring in Russia. Karen Brooks and Zvi Lerman No. 234 Population Growth, Shifting Cultivation, and Unsustainable Agricultural Development: A Case Study in Madagascar. Andrew Keck, Narendra P. Sharma, and Gershon Feder No. 235 The Design and Administration of Intergovernmental Transfers: Fiscal Decentralization in Lation Amercai. Donald R. Winkler No. 236 Public and Private Agricultural Extension: Beyond Traditional Frontiers. Dina L. Umali and Lisa Schwartz No. 237 Indonesian Experience with Financial Sector Reform.
This style of economic management resembled the operational mode of a corporationin this case, Korea, Inc. Within this management partnership, banks served as the Treasury Unit, the industrial sector as the Production and Marketing Units, and the government as the Central Planning and Control Unit. The Size, Structure, and Sources of Policy Loans In Korea, policy-oriented loans captured a large share of the total credit available in the economy. ) However, policy loans from deposit money banks (DMBs) comprised about 60 percent of total loans throughout the period.
In the 1980s, the government wanted to reduce its policy of credit intervention, but was forced to perpetuate its intervention in order to restructure depressed industrial firms. Government had become captive to the intervention cycle. Meanwhile, along with political democratization in the late 1980s, the structure of policy-based loans changed, giving greater emphasis to social programs and the redistribution of income. The structure of the financial market also changed with the rapid expansion of NBFIs, which were relatively free from heavy government intervention.