• Journal of the Korean Geographical Society
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• v.30 no.4
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• pp.364-388
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• 1995

Even though rarely recognized as a separate approach, the institutional approach in geography is defined as an attempt to seek an explanation of the phenomena of geographical interest through focusing on the effects of institutional structure and actions. It can provide interdisciplinary links with other works and can offer complementary explanations for geographical interests. The concerns for institutions in geography can be found in early studies, the study of the state, the managerial approach, and the regulation approach. The Korean financial systems can provide good examples to apply institutional concepts into creating spatial outcomes, as it has been regarded as a useful tool to promote Korean economic development. Behind the current spatial pattern of financial systems, four different stages of institutional changes are identified in Korea. Each stage has different institutional features reflecting unique spatial implication.