This book criticizes the widespread view that the 1997 Asian crisis was due to 'crony capitalism' and puts the blame instead on misguided liberalization. It analyzes the case of Korea's business conglomerates, the chaebol, with particular attention to the car industry, to show how liberalization contributed to the crisis even at the level of the firm. It shows how those firms that had developed innovative capabilities survived the crisis much better than those that had merely expanded into markets opened up by liberalization.
This book criticizes the widespread view that the 1997 Asian crisis was due to 'crony capitalism' and puts the blame instead on misguided liberalization. It analyzes the case of Korea's business conglomerates, the chaebol, with particular attention to the car industry, to show how liberalization contributed to the crisis even at the level of the firm. It shows how those firms that had developed innovative capabilities survived the crisis much better than those that had merely expanded into markets opened up by liberalization.
The current economic crisis in East Asia is unprecedented in world economic history. It seemed the economic strength of the region, until very recently, would just keep growing. Now, the...
This book traces the impact of the global financial crisis on East Asia, and the way that key regional states responded to the crisis. It considers the extent to which the region is decoupling from...
Arranged as a collection of memos from experts in academia and government to a president facing a policy challenge, each book in the series offers succinct explanations of the background and context...
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