Like in most other developing economies, the Reserve Bank was not born autonomous; it gained its autonomy over time as a result of the lessons of international experience and the maturity of our political executive who saw the benefits of preserving the autonomy of the Reserve Bank.
Seong-Tae Lee: Korea’s experience in relation to macro-prudential supervision Luncheon speech by Mr Seong-Tae Lee, Governor and Chairman of The Bank of Korea, at the IMF-FSC/FSS International Conference, Seoul, 7 November 2006.