Overcoming Financial Crises

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.