1. Introduction : re-writing the "official history" of the Korean economy and financial crises in emerging markets -- 2. The five conventional wisdoms and the five financial theorems on the global financial market -- 3. The global financial crisis and the Korean financial crisis -- 4. Emerging...

By focusing on the interaction between mobile factors and less mobile factors in the process of globalization, this paper argues that the role of the state becomes more important in some significant respects as the pace of globalization accelerates, contrary to the popular perception that it...

This paper discusses methodological differences between universalism and particularism in development economics by focusing on the 'East Asian Miracle' debate. It proposes to build development economics as part of hetero-economics, not mono-economics, following Max Weber's methodology of social...

This paper argues that the role of the state becomes more important in some significant respects as the pace of globalization accelerates, contrary to the popular perception that it should be diminished. This is mainly because, as mobile factors obtain more freedom to choose locations across...

This paper assesses the relative merits and demerits of different East Asian models by placing them in a historical perspective. It re-interprets Gerschenkron's model of late industrialization, and extends it to compare East Asian economies in view of substituting and complementing models. It...

This paper explains a puzzling feature of China's industrial financing, i.e., an extremely low share of domestic loans and an unusually high share of 'self-raised funds and others' in a developing country. After an overview of historical patterns of financial industrialization in other...