"Export-oriented industrialization has transformed the Korean economy so profoundly that it has become known as the "Miracle on the Han". Yet, this industrial model has become fragile, as Korea's chaebols are increasingly challenged by Chinese competitors. Attempts to seek out new engines of...

Providing an integrated analysis of the event and its consequences, the chapters in the book consider the causes of the crisis, the response of the US government and International Monetary Fund, adjustments in the Korean monetary and fiscal policies, and the success of financial and corporate...