Abstract

This paper sketches some basic features of the pattern of finance prevailing
during the Korean process of heavy industrialization in the seventies, as well as the financial
restructuring by which the Korean economy managed to cross over the foreign debt crisis in
the eighties. Emphasis is laid upon Korean privatization of state banking and corresponding
foreign liabilities, as contrasted to the state absorption in the Brazilian case.

JEL Classification: O53; L52.