The Korean economy beyond the crisis : [papers from an international conference convened in October 2002 by the Research Center for International Finance (RICF[sic]) of Seoul National University

More Than Five Years Have Passed Since South Korea Fell Prey To The Asian Financial Crisis. Bringing Together Experts From Korea And A Variety Of Other Countries, This Book Aims To Better Understand The Three Stages Of The Korean Crisis: The Onset, The Policy Reaction, And The Economic Response. Providing An Integrated Analysis Of The Event And Its Consequences, The Chapters In The Book Consider The Causes Of The Crisis, The Response Of The Us Government And International Monetary Fund, Adjustments In The Korean Monetary And Fiscal Policies, And The Success Of Financial And Corporate Restructuring. The Concluding Chapters Bring The Story Up-to-date, Describing The Aftermath Of The Crisis And Assessing Whether There Has Been Sufficient Reform To Facilitate The Country S Recovery And Growth. International And Also Asian Economists Will Find This A Thoroughly Accessible And Illuminating Book, As Will Specialists On Korea, Political Scientists And Political Economists. In This Volume, The Author Traces The Development Of The Korean Economy, Looking At The After-effects Of Colonial Rule And Devastating War. 1. Introduction / Barry Eichengreen And Duck-koo Chung -- 2. The Korean Economy Before And After The Crisis / Un-chan Chung -- 3. What Caused The Crisis? A Post Mortem / Won-am Park And Gongpil Choi -- Comment On Chapters 2 And 3 / Ronald I. Mckinnon -- 4. Us Policy Toward The Crisis / Young-kwan Yoon -- Comment On Chapter 4 / Justin Yifu Lin -- 5. The Monetary Policy Response To The Crisis / Dongchul Cho -- 6. The Fiscal Policy Response To The Crisis / Joosung Jun -- 7. Social Impact Of The Crisis / Joung-woo Lee -- Comment On Chapters 5, 6 And 7 / Eduardo Borensztein -- Comment On Chapters 5, 6 And 7 / Gordon De Brouwer -- 8. Financial Restructuring / Joon-ho Hahm -- 9. Corporate Restructuring / Sung Wook Joh -- 10. Changes In The Labor Markets And Industrial Relations / Young-ki Choi And Dae Il Kim -- Comment On Chapters 8, 9 And 10 / Stijn Claessens -- Comment On Chapters 8, 9 And 10 / Mitsuhiro Fukao -- 11. Transparency And Social Capital / Jaeyeol Yee -- 12. Social Realignment, Coalition Change And Political Transformation / Hyun-chin Lim And Joon Han -- Comment On Chapters 11 And 12 / Dwight Perkins -- 13. Recurrence Of Financial Crises: Cross-country Patterns And Implications For Korea / Kiseok Hong, Jong-wha Lee And Changyong Rhee -- 14. Reform And The Risk Of Recurrence Of Crisis / In June Kim, Baekin Cha And Chi-young Song -- Comment On Chapters 13 And 14 / Masahiro Kawai. Edited By Duck-koo Chung, Barry Eichengreen. Papers From An International Conference Convened In October 2002 By The Research Center For International Finance (ricf) Of Seoul National University. Includes Bibliographical References (p. 344-368) And Index. Preliminaries......Page 1 Contents......Page 6 List of figures......Page 8 List of tables......Page 9 List of contributors......Page 11 Abbreviations......Page 13 Foreword......Page 16 1 Introduction......Page 18 2 The Korean economy before and after the crisis......Page 42 3 What caused the crisis?......Page 65 4 US policy toward the crisis......Page 89 5 The monetary policy response to the crisis......Page 106 6 The fiscal policy response to the crisis......Page 130 7 Social impact of the crisis......Page 154 8 Financial restructuring......Page 189 9 Corporate restructuring......Page 211 10 Changes in the labor markets and industrial relations......Page 235 11 Transparency and social capital......Page 265 12 Social realignment, coalition change and political transformation......Page 284 13 Recurrence of financial crises......Page 307 14 Reform and the risk of recurrence of crisis......Page 334 References......Page 361 Index......Page 386