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Economic Liberalization and Integration in East Asia: A Post-Crisis Paradigm

Economic Liberalization and Integration in East Asia: A Post-Crisis Paradigm

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Key Metrics

  • Yung Chul Park
  • Oxford University Press, USA
  • Paperback
  • 9780199215218
  • 9.14 X 6.39 X 0.65 inches
  • 0.99 pounds
  • Business & Economics > Development - Economic Development
  • English
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Book Description

Several years before the 1997-98 Asian financial crisis, most East Asian economies with the exception of China had engaged in the liberal reform prescriptions of the Washington Consensus. The Asian financial crisis added impetus to the transformation process as the crisis countries accepted the Washington Consensus as part of their commitment to the IMF policy conditionality.

In this book the author argues for the continuing validity of an 'East Asian' model of economic development that differs distinctly from the Washington Consensus. He argues that, while this model was undermined to some extent by the 1997-98 financial crisis, it remains robust and important in explaining economic events in East Asia. In doing so, he covers the accomplishments and failures of the East Asian development model and the reform agenda for a new East Asian paradigm for post-crisis development.

Economic Liberalization and Integration in East Asia: A Post-Crisis Paradigm

Author Bio

Yung Chul Park is currently a Professor in the Division of International Studies, Korea University. He was a Professor of Economics at Korea University from 1976 to 2005 and Research Professor at Graduate School of International Studies, Seoul National University from 2005 to 2008. Previously he served as the Chief Economic Adviser to the President of Korea, as President of the Korea Development Institute, and as President of the Korea Institute of Finance. 

He also worked for the International Monetary Fund. His main research areas include financial development and liberalization and regional monetary and financial integration. He has published as author or editor several books including Financial Liberalization and Economic Development in Korea, 1980-2020 (co-authored with J.K. Kim and H. Park, Harvard University Asia Center, 2021).

 

 

 

Source: Vox EU CEPR 

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