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The 1997 South Korean financial crisis not only shook the country itself but also sent shock waves through the financial world at large. This impressive book critically assesses the conventional wisdom surrounding the Korean crisis and the performance of the IMF-sponsored reform programme.
Looking first at the strengths and weaknesses of 'Korea Inc.' in comparison with other East Asian countries, the authors describe the challenges faced by Korea in the 1990s due to the acceleration of globalization. By arguing that the transition attempted by Korea was badly conceived and ill designed, Restructuring 'Korea Inc.' focuses on corporate reform after the crisis that has led to the running up of huge 'transition costs'.
This snappy, informative and readable book has a broad historical overview and with its suggestions for structural change for Korea. This book is an important contribution not only to Asian studies, but also to the study of financial crises and the political economy of economic reform.
- Sales Rank: #2661328 in eBooks
- Published on: 2003-09-02
- Released on: 2003-09-02
- Format: Kindle eBook
About the Author
Jang-Sup Shin is Assistant Professor at the National University of Singapore and Ha-Joon Chang is Assistant Director of Development Studies at the University of Cambridge.
Most helpful customer reviews
2 of 2 people found the following review helpful.
Excelent review of the Korean Crisis
By Gilmar Masiero
To everybody that enjoy reading the Stiglitz complains about the IMF mismanagement of country's financial crisis Restructuring Korea Inc. is a better analytical and empirical documented evidence of it. According to the authors much of the Korean crisis was due to the dismantle of the Korean Inc. by the Kim's goverments and the IMF without having a new model to put in place. One of the main thesis of the book is that the Korean economy recovered despite the IMF programme, not because of it. Excellent reading to everybody in the government and private sector of developing countries that did not have a clear picture about "What Happened to Asia" and are still afraid of the possible and probable coming new crisis.
0 of 1 people found the following review helpful.
Please, do not publish my previous review.
By Gilmar Masiero
Dear friends,
Please, for personal reasons, do not publish the previous review of this book even though you can keep the 5 star rate. Many thanks, Gilmar
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