- Jorge Márquez-Ruarte, and Bijan Aghevli
- Published Date:
- August 1985
A Case of Successful Adjustment: Korea’s Experience During 1980–84
By Bijan B. Aghevli and Jorge Marquez-Ruarte
International Monetary Fund
© 1985 International Monetary Fund
International Standard Serial Number: ISSN 0251-6365
International Standard Book Number: ISBN 0-939934-51-5
(US$4.50 to university libraries, faculty members, and students)
Address orders to:
External Relations Department, Attention Publications
International Monetary Fund, Washington, D.C. 20431
- Prefatory Note
- I. Introduction
- II. Historical Background
- III. The Years of Crisis (1979–80)
- IV. The Years of Recovery (1981–82)
- V. The Years of Adjustment (1983–84)
- VI. Overview
- I. Structure of the Public Sector
- II. Structure of the Financial Sector
- III. Statistical Tables and Charts
- Section II.
- Section III.
- Section IV.
- Section VI.
- Appendix III.
- 7. Operations of the Central Government and the Consolidated Public Sector, 1979–84
- 8. Cyclically Neutral Balance and the Fiscal Impulse of the Public Sector, 1979–84
- 9. Monetary Survey, 1979–84
- 10. Exchange Rates and Competitiveness, 1978–85
- 11. Expenditure on GNP in Constant 1980 Prices, 1979–84
- 12. Industrial Origin of GNP in Constant 1980 Prices, 1979–84
- 13. Balance of Payments, 1979–84
- 14. External Debt, 1979–84
- Appendix III.
The following symbols have been used throughout this paper:
- … to indicate that data are not available;
- — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
- – between years or months (e.g., 1979–81 or January-June) to indicate the years or months covered, including the beginning and ending years or months;
- / between years (e.g., 1980/81) to indicate a crop or fiscal (financial) year.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
This paper was prepared by Bijan B. Aghevli, Division Chief in the International Monetary Fund’s Asian Department, and Jorge Marquez-Ruarte, Senior Economist in the Asian Department. In preparing the paper, the authors have relied extensively on the analysis and information provided by the Korean authorities as well as on the work of the Fund staff on Korea during the period under study. Particular mention should be made of G. Russell Kincaid and Michael Wattleworth, whose work on Korea during 1983–84 forms an integral part of the analysis contained in this paper. The authors are also grateful for comments and suggestions from A.F. Mohammed, P.R. Narvekar, C.R. Rye, Gyorgy Szapary, and Richard C. Williams, and for editorial assistance from Maxine Stough. Opinions expressed in this paper are those of the authors and do not necessarily represent the views of the International Monetary Fund.