Jump to ContentJump to Main Navigation
Developmental MindsetThe Revival of Financial Activism in South Korea$
Users without a subscription are not able to see the full content.

Elizabeth Thurbon

Print publication date: 2016

Print ISBN-13: 9781501702525

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9781501702525.001.0001

Show Summary Details
Page of

PRINTED FROM Cornell University Press SCHOLARSHIP ONLINE (www.cornell.universitypressscholarship.com). (c) Copyright University of Cornell University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in Cornell for personal use (for details see www.cornell.universitypressscholarship.com/page/privacy-policy/privacy-policy-and-legal-notice).date: 20 November 2018

Full Flowering of Financial Activism

Full Flowering of Financial Activism

(p.125) 9 Full Flowering of Financial Activism
Developmental Mindset

Elizabeth Thurbon

Cornell University Press

This chapter documents and explains the wholesale expansion of policy financing under Lee Myung-bak. The expansion was part of Lee's decision to extend and intensify the balanced growth developmental strategy initiated by his predecessor, albeit under a new banner: “Green Growth.” The Lee administration's internationally admired Green Growth initiative necessitated the aggressive expansion of policy lending by the nation's policy finance institutions (PFIs). By the end of Lee's reign, state-owned PFIs would account for fully one-quarter of all loans in the Korean financial system. Between 2008 and 2012, large volumes of these loans were channeled to local firms in strategic industries, typically on a performance-linked basis. The chapter concludes by considering the future of such financial activism under current President Park Geun-hye.

Keywords:   policy financing, Lee Myung-bak, developmental strategy, growth development, Green Growth, policy finance institutions, Korean financial system, financial activism, Park Geun-hye, policy finance institution

Cornell Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.