In the “varieties of capitalism” debate, scholars have paid considerable attention to the question of whether Korea and Japan have left behind their interventionist political economy for neo-liberal reform. In this paper, we re-examine the scholarly consensus that Korea has become a...

We investigate the investment performance of the art of Andy Warhol and Salvador Dali through constructing hedonic price indices from auction sales records. Although the arithmetic average returns are higher for the art than for equities, the geometric returns and the Sharpe ratios of the art...