Most observers would consider the 1997 Asian crisis as the biggest challenge in the impressive economic development of Korea. The Korean economy went through a significant transformation to overcome the unprecedented shocks of the crisis. The resolution of the crisis acted as a catalyst to bring much needed structural change in the financial and corporate sectors. In the process Korea has adopted wide-ranging economic reforms, experienced substantial institutional change and significant improvements in its legal framework.(The rest is omitted)

Preface

sessionxx I. THE KOREAN CRISIS AND ECONOMIC CHANGES

1. Korea Ten Years after the Crisis: Collateral and Reserve Accumulation / Michael P. Dooley, Peter Garber, and David Folkerts-Landau
Comments on “Korea Ten Years after the Crisis: Collateral and Reserve Accumulation”: Two Crises of International Economics / Naoyuki Yoshino

2. Inflation Targeting in Korea: Success, Good Luck or Bad Luck? / Yung Chul Park and Charles Wyplosz
Comments on “Inflation Targeting in Korea: Success, Good Luck or Bad Luck?” / Hans Genberg

3. Ten Years after the Crisis: Financial System Transition in Korea / Joon Ho Hahm
Comments on “Ten Years after the Crisis: Financial System Transition in Korea” / Shinji Takagi

4. Corporate Sector Restructuring in Korea: Status and Challenges / Stijn Claessens and Dongsoo Kang
Comments on “Corporate Sector Restructuring in Korea: Status and Challenges” / Youngjae Lim


sessionxx II. CHANGES LOOKING FORWARD: TOWARDS LONG-TERM STABLE ECONOMIC GROWTH

1. Achieving Long-Term Fiscal Sustainability in Korea / Tarhan Feyzioğlu, Michael Skaarup, and Murtaza Syed
Comments on “Achieving Long-Term Fiscal Sustainability in Korea”: Should We Be Concerned by Korea's Exposure to the International Interbank Market? / Robert N. McCauley

2. Household Debt in Korea and Macroeconomic Implications / Meral Karasulu and Jerald A. Schiff
Comments on “Household Debt in Korea and Macroeconomic Implications” / Chang Seok Oh

3. Productivity Growth and Structural Changes in Korean Economy before and after the Financial Crisis / Hak K. Pyo
Comments on “Productivity Growth and Structural Changes in Korean Economy before and after the Financial Crisis” / Chin Hee Hahn


sessionxx III. WHAT IS THE AGENDA FOR THE NEXT 10 YEARS?

1. Changes in Labor Quality among New College Graduates in Korea / Dae Il Kim
Comments on “Changes in Labor Quality among New College Graduates in Korea” / Yeongkwan Song

2. Trade Structure, FTAs, and Economic Growth: Implications for East Asia / Chan-Hyun Sohn and Hongshik Lee
Comments on “Trade Structure, FTAs, and Economic Growth: Implications for East Asia” / Hyun-Hoon Lee

3. Crisis, Adjustment, and Long-run Economic Growth in Korea / Noh Sun Kwark, Changyong Rhee and Doo Yong Yang
Comments on “Crisis, Adjustment, and Long-run Economic Growth in Korea” / Kwanho Shin


Seminar Program

List of Participants

List of KIEP Publications