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The economic crisis that hit Korea, along with many other Asian countries, in autumn, 1997 raises fundamental issues of political economy. To what extent does the crisis threaten support for new democratic institutions or lead to demands for democratic reform to root out past corruption? To what extent does the Korean electorate support economic diagnoses and prescriptions endorsed by international economic policymakers? The 1998 New Korea Barometer offers empirical answers to both questions, from a nationwide representative sample survey of 1,010 adults between 13-22 October 1998. When asked the cause of the crisis, Koreans most often cite the cosy relationship between the government and chaebols; they also endorse a market response to the crisis, closing debt-ridden banks and enterprises. There are also popular demands to improve the quality of Korean democracy. While many households have experienced economic setbacks, most people are optimistic about economic recovery within the next five years. Answers to all questions are given in this SPP paper.
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