While the record of developed economies is far from unblemished, they have had greater success in fending off such demands. One indication of that success is that exchange rate regimes have not often been upended by domestic political pressures in these economies.
Fellow members of the Bank of Korea, The Bank of Korea has undertaken active policy initiatives in response to this global financial crisis. These actions have contributed greatly to moderating the economic difficulties. Yet still the crisis is far from over and new policy tasks are expected to arise even after the crisis passes.