Korea has often fallen prey to international financialcrises including the Asian crisis, the global financialcrisis, and the Eurozone crisis. The impact of the crises has been profound, and they have fundamentally changed not only the Korean economy but also the whole Korean society. Why is Korea likely to become a victim of a crisis even though its economic fundamentals are sound? Why does Korea tend to be more severely damaged than other countries by a crisis once it occurs, no matter where the crisis originates? Is it due to structural problems of the Korean economy or the international financialmarkets? What should be done for Korea to avoid, prevent and overcome a crisis? This book is an attempt to answer these questions, and comprehensively explains the causes and effects of and policy responses to financialcrises, focusing on the Korean experience.

Preface
Chapter 1 Introduction

Part I Asian Crisis
Chapter 2 Currency Crises of the Asian Countries in a Globalized Financial Market
Chapter 3 The Korean Currency Crisis and the IMF Program: An Insider’s View
Chapter 4 Reform and the Risk of Recurrence of Crisis

Part II Global and European Crises
Chapter 5 Global Financial Crisis and the Korean Economy
Chapter 6 Global Crisis, European Crisis and the Challenges of the Korean Economy
Chapter 7 A Comparative Study on the Eurozone and the Korean Economic Crises

Part III Policy Measures: Financial Reform and Regional Monetary Cooperation
Chapter 8 East Asian Monetary Integration: Destined to Fail?
Chapter 9 Global Crisis, Global Imbalance and Global Financial Cooperation
Chapter 10 Political Economy of Financial Reform in Korea

Bibliography
Index
Abstract