1999-2002년 시기의 한국영화 붐에 대한 연구 = A study on the Korean film boom years between 1999-2002

다국어 초록 (Multilingual Abstract)

The years between 1999-2002 are thought boom periods by many researchers. There were several significant accomplishments in the number of screens and volume of ticket sales and export. With the box-office success of 'Shiri' in 1999, the Korean film industry had entered unexpected boom years. But the over all market size had shrinked by 5-10% annually during same years. What happened?
The purpose of this study is an critical overview of the recent korean f h boom with the theory of the Austrian school of economics. According to neoclassical theory, consumer demand is determined by the utility of each commodity to the consumer. But consumers often are persuaded by false and misleading advertising, and their actions are guided not by a pursuit for utility but by impulse, fear or simple caprice. What is unique to the Austrian economic theory is their stress on problem of information in economics. From this developed the Austrians' concern with both capital and business cycle theory which believes that economic boom and bust is a series of cyclical events caused by bouts of bank credit at a market rate of interest below the rate of return on capital.
The boom years cannot be prolonged indefinitely without real productivity gains. With several big box office flops, the new capital formation must be prematurely terminated. The korean film boom come to an abrupt stop in 2002. And korean film industry is in the middle of passing bubble-bust times.