Economic Liberalization and Integration in East Asia

Yung Chul Park is Professor of Economics at Seoul National University and a member of National Economic Advisory Council. He was an ambassador for International Economy and Trade, Ministry of Foreign Affairs and Trade, 2001-2002 and Chairman of the board at the Korea Exchange Bank in Seoul, Korea,1999-2001. He previously served as the Chief Economic Adviser to President Doo Hwan Chun of Korea and as a member of the Central Bank of Korea's Monetary Board. He has also held positions at Harvard University, Boston University and the International Monetary Fund.

• SUCCESSES AND FAILURES OF THE EAST ASIAN DEVELOPMENT PARADIGM ; 1. Introduction ; 2. Characteristics and Successes of the East Asian Development Paradigm ; 3. Development Policies and Governance ; 4. Failures of the East Asian Development Model: An Overview ; 5. Failures in Governance and Institution Building ; 6. Weaknesses of the Corporate and Financial Sector ; THE ASIAN CRISIS: CAUSES AND CONSEQUENCES ; 7. The Build-up of the Crisis ; 8. Causes of the East Asian Crisis: Structural Weakness vs. Liquidity Panic View ; 9. A Reevaluation of the IMF Reform Program: Wrong Diagnosis and Wrong prescription ; 10. The IMF Structural Reform: Inconsistencies in the Program ; INSTITUTIONAL REFORM: CHALLENGES AND PROSPECTS ; 11. Reform of Government and Industrial Policy ; 12. Institution Building for Governance ; 13. Corporate Sector Reform ; 14. Social Welfare and Industrial Relations ; FINANCIAL LIBERALIZATION AND OPENING ; 15. Progress in and Prospects for Financial Reform ; 16. Exchange Rate Regimes: Fear of Floating ; 17. Capital Account Liberalization ; ECONOMIC INTEGRATION IN EAST ASIA ; 18. Trade Integration ; 19. Financial Integration ; 20. Prospects for Economic Cooperation and Integration ; 21. Reserve Accumulation in East Asia and Trans-pacific Trade Imbalance ; WHITHER ECONOMIC LIBERALIZATION AND INTEGRATION IN EAST ASIA? ; 22. In search of a New East Asian Paradigm of Development ; 23. A Long Road to Anglo-Americanization ; 24. New Paradigm of Development: A Mixed Economy Model ; 25. Concluding Remarks

Throughout the text, Park offers a commendable balance of theoretical and empirical analysis...As a result, Park is able to reach out to a wider academic audience.