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The 1997 Korean economic recession, triggered by "Asian flu", created turbulence in the country's political economy. The International Monetary Fund stepped in to provide short-term loans on strict conditions; the measures to adjust to shock were well publicized and there was an immediate fall in the standard of living of many Koreans. The election of President Kim Dae Jung promised political change. By early 1999, official statistics showed signs of economic recovery, while political problems persisted. The November, 1999 New Korea Barometer follows studies in previous years by asking a nationwide sample about their current and past economic status and expectations of the future; how people evaluate the government's handling of the economy and, a major point in discussion of Asian development, whether democratic institutions are considered suitable to promote economic growth. The survey also includes a battery of questions about democratic ideals in theory and practice, building on a decade of survey research in Korea by Doh Chull Shin.
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