ISBN 9780821382394
Softcover
Pagine 470
Gennaio 2011
World bank
Prezzo Euro 50.00
Sconto 10%

This book provides an unparalleled insider's look at the factors leading up to the 1997-98 crisis in South Korea and how the crisis unfolded over the next two years. Written by former finance minister Kyu-Sung Lee, this book traces the evolving situation across the key sectors and the series of policy and institutional measures the government deployed throughout the crisis. This book is a must-read for policymakers, scholars, students, and any reader interested in understanding the facts and circumstances surrounding the 1997-98 crisis, the policies undertaken at the time, and what the experience implies for preventing future crises. 'If one is looking for a blow-by-blow description of the factors leading up to the 1997-98 crisis in Korea and how the crisis unfolded over the next two years, then this is the book to read. As an insider and a key policy maker during the time, Mr. Lee Kyu-Sung has marshalled a level of detail few could match. The reader is treated to a step-by-step description of the evolving situation across the key sectors as the crisis extended through 1998 and of the successive rounds of policy and institutional measures which the government deployed. These included initiatives to restore confidence and normality, manage aggregate demand while resuming export growth and erasing the current account imbalance to rebuild the country's depleted foreign exchange reserves, clean the balance sheets of the banking system to restore its effective functioning, mobilize fiscal resources sufficient to meet the requirements of the government, and restructure the badly shaken corporate economy which was the motor of Korea's export-led growth. For the reader interested in the macroeconomic and industrial manifestations of the 1997-98 crisis in Korea and the volleys of policies which the government and its foreign advisers unleashed, there is nothing comparable to this book in English.