There exists a large volume of literature on Korean success in
economic development. However, Korea has experienced several
economic crises in the development process. While the financial
crisis in 1997 has received a substantial amount of attention in
the mass media and in the academic as well, Korea had not been
immune to economic crisis prior to the 1997 financial crisis. This
book reviews the experiences of economic crises and their
resolutions in Korea since 1960s. The book examines each crisis and
concludes that the factors that caused one previous crisis later
brought about another crisis repeatedly. This indicates that the
measures to resolve the previous crises were ultimately ineffective
in the sense that the fundamental causes for the economic crisis
had remained unresolved and, as a result, recurrence of the crisis
has not been prevented.
General
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