The recent global crisis has reminded everyone of the importance of reforming the international monetary and financial system. The current system is no longer adequate to meet the needs of a complex, integrated world economy. Various proposals, both on the demand and supply sides, have been put...

Koreas financial sector has gone through heavy repression, rapid liberalization, deep crises, and massive restructuring during the last half century. This paper discusses Koreas financial sector policies in relation to its real sector development, and attempts to draw some lessons from this...

This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...