"Mo and Weingast study three critical turning points in South Korea's remarkable transformation and offer a new view of how Korea was able to maintain pro-development policies with sustained growth by resolving repeated crises in favor of rebalancing and greater political and economic...

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...