Popular Reaction to the Intervention by the IMF in the Korean Economic Crisis

The International Monetary Fund (IMF) has played an important role in restructuring the Korean economy over the past three years. Relying upon survey data collected in 1998 and 1999, this paper explores the role of the IMF in Korea, as perceived by its citizens. In the eyes of the Korean people, the IMF helped their economy to recover from the crisis. However, those Koreans who experience a decline in their income, are critical of the IMF intervention in their economy. Finally, our analysis of the public attitude data reveals that the pro-IMF orientations among the Korean people have little to do with their support for a market- oriented reform program.