3 0

IMF,
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.

Copyright

2006 by BookCosmos . All Rights Reserved.

Summarized with the Permission from the Publisher.

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1945 . (, 1969) (, 1987) . 1970
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S ho rt S umma ry

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1
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05 -
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06 () -
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08 -
09 -
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11 -
12 Talking -
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/ 2005 5 / 593 / 24 ,000

1

1972 3 100 1,000
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1975 3
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.

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. . 1976 10
11 29
. . 12 22
, 1976 12 31 . 3
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, 24 . 36 3 .
1978 1 20 99%
. 1977 2,100 316
4 2,416 . 1978 1 8,352
37% . IMF
. 1977 .
. IMF
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1978 .
, , 12% ,
4% , 8% .
, ,

30% .

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1972 (83 )

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0% , 12 .5% , 25% -
1993 .
.

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(tax

competition) .

.
0% , 12.5% , 25% 2000 1994 2
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1996 4,000
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32% 3 30- 28- 25% . 2 28%
25% . 60% 25% .
10~60% 6 10- 15- 25% 3 . 60%
100% 1 777
.

8% -
1988 2,188 18.1% 1989 12.7%
1993 8% . , ,
. 8%
.
, .
. 30%,
15%, 0%, 4.1%
.
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. 8% 1993 . 1994
1994 110 , 1995 219
, 1996 310 . 8%
.

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-
1994 12 3 1960
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1997 .
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. 2004 5

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2
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10 340 130
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. . 7
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, 8 17 , 10 29
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1982 1989
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1988 , , , ,
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M1, M2 .
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 40% GNP 1 2.5 .

80% , 120% .
. .
. .
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. . GDP M2
2001 84.7% .
40% 1998 1 10% 4 80%
5% .

3
-
-
1985 2, 3 (Financial Attache)
.
1985 6 . 1985 9 22
(Plaza Accord) . 1980
, , , G- 5
.
260 130 100%
.

10 . 2
30% .
. (manipulation)
(intervention) .
.
.
-
3 . 1986 NYU
.
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a) .
.
(syndicate loan) (floating rate note) , 1986

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 (Eurobond, ) .
, , .
10 30
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(Major League) (Minor League) .
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. 1991
.
.
.
1992 S&P Mody's
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MEGA DRAM
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.
1992 7 3
. 8 2 5,000
.

4 1997
-
1996
. 7.5%, 4.5%,
60 ,
.
10% .
79 .
(KDI) 5 6 7 21
. 8%
(the worst policy mix) .
4 237
. 1997 .

- 13 -

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 -
1996 7~7.5%, 4.5% , 50~60
6.8%, 4.9% 4 237 . 1994
3 . .
1996 . 10%
.
-
1993 3 1994 45 , 1995 89 ,
1996 237 .
1994 110 , 1995 219 , 1996 310 1 100
.
1996 237 GDP 4.5% 3%
. 0.51%,
14.3%, 115.4%, 301.5%.
.

- 1997
-
. , (private
sector) 1970
. ,
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, (economic fundamentals)
. , (confidence crisis)
.
1997 7 , 10 11
. 1997 3 1997 IMF
.
.
IMF . 1997 ?
IMF, , IMF (economic crisis) .
1997
.
1997
.
, 8% , , ,

- 14 -

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 . . , 1990 ,
, . ,
8%
.
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1997 333% 159.7%, 85.7% .

. ,
.

(maturity mismatch)
. , (regulation)
(supervision)
.
-
1982 32 1992 8
, 1994 9 1995 15
30 .
24

.
1997 10 200 1
64.4% 120 . 1 83.7% 168
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(over- night) . , ,
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Merchant bank bank

IMF .

- 15 -

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 -
1997 ,
,
. .

.
.
S&P 1997 11 5
1,100 800
.
(default) 1997 11 16 IMF
IMF .

IMF - IMF
1997 11 21 10 15, IMF
. 1997 12 3 7 30,
210 IMF (Letter of Intend) IMF
IMF . 1997
. IMF
(economic crisis) ,
IMF .
IMF IMF
, (emotional) (radical)
. IMF
. . 1997 (disguised
blessing) . ,
, .
1999 IMF . 1 .
1988 . IMF
. IMF
1997 11 16 IMF .
1 .
1 9 2 9
. .
IMF .

- 16 -

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 - 2
(Peter Drucker)
, .
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. . 1997

, , .
, , ,
.
.
. (Francis Fukuyama)
(trust) . .
, .
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,
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.

5 % .
95 % . ,
.

- 17 -

3 0