07/03/30 11:53:19 Oqe1FMOm
韓国の通貨安定化証券（MSB; Monetary Stabilization Bond）って何－其の二：
韓国中銀は MSB をどう見てる？
x Monetary Policy in Korea (Full Package), The Bank of Korea
URLﾘﾝｸ(www.bok.or.kr)
上記 URL より取得した PDF 資料の History, 2. Lending Policy, III. Tools of Monetary Policy
に以下が記載されている。"History" という項に記載されており、文書発行の
2003/01/16 よりも以前に、韓国中銀はこの認識を有していた筈。
During the period of rapid economic growth, the lending policy
of the Bank of Korea was used as a means of policy financing to
support particular industries, rather than as a tool for liquidity
adjustment. In other words, when banks provided financial support
for a strategic industry amid the chronic excess demand for
funds, the Bank of Korea refinanced a certain ratio (30-60%) of the
funds extended at rates lower than market interest rates. This system
led to an oversupply of liquidity, bringing about inflation.