Cover; Title; Copyright; Contents; List of figures; List of tables; PART I Growth and convergence; 1 Industrialization, convergence, and patterns of growth; 2 The other side of conditional convergence; 3 An alternative interpretation of conditional convergence results; PART II Exchange rate and Asian crisis; 4 The predictive ability of several models of exchange rate volatility; 5 Liberalization of capital flows in Korea: big-bang or gradualism?; 6 Currency crisis of Korea: internal weakness or external interdependence?
7 Interest rates and exchange rates in the Korean, Philippine and Thai exchange rate crisesPART III Global crisis; 8 House prices in ASEAN+3: recent trends and inter-dependence; 9 Crisis and employment: the case of Korea; 10 Aggregate demand gap: based on a simple structural VAR Model; 11 Policy reports for the G20 summit meetings; PART IV Crises and recoveries of the Korean economy; 12 Korea's stabilization policies in the 1980s; 13 Overcoming the 1997-1998 crisis: macroeconomic policy adjustments; 14 The monetary policy response to the crisis
Summary
Since the 2008 global financial crisis, policymakers as well as academicians have been seeking to fathom why subsequent recoveries remain tenuous. Other outstanding issues that they have been trying to understand include: why do some economies grow faster than others? How should the exchange rate volatility be understood and what factors make an economy more likely to fall into an exchange rate crisis? What policies need to be taken during tranquil periods, and how should they be changed once the crisis is triggered? As a partial effort to meet such interests, this book provides insights into
