In 2008, the global economy experienced the most severe crash since
World War II. A sharp collapse in international trade followed,
leaving no country on the globe immune to a sequence of economic
shocks. This timely book explores many of the key issues raised in
the wake of the global economic crisis and provides an in-depth
analysis of crisis transmission to emerging markets. The expert
contributors compare the recent crisis with earlier crises, explore
international aspects of the crisis from the perspectives of
financial markets and trade, and examine macroeconomic policy
responses. In so doing, they address important questions including:
How did this crisis differ from those suffered previously? How and
why did flaws in financial markets contribute to the crisis? How
important were global imbalances and global overheating in
explaining the global meltdown? Did different pre-crisis
fundamentals generate different post-crisis performances? And, how
severe were the economic shocks to countries such as Korea and
other emerging economies? Academics, students and policymakers in
the fields of economics, international economics, finance, money
and banking and Asian studies will find this book to be a
thought-provoking and stimulating read. Contributors: J. Aizenman,
M.D. Bordo, M. Chamon, M.D. Chinn, D. Cho, B. Eichengreen, A.
Ghosh, M.M. Hutchison, H.-W. Kim, J.I. Kim, J.S. Landon-Lane, H.
Lee, H. Lee, K.-M. Lim, A. Mason, M. Obstfeld, M.-K. Song
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