This paper uses an asymmetric information framework to understand the causes of the recent financial crisis in Korea. It shows that the Korean data is consistent with this explanation of the crisis. It then draws on this analysis to discuss several lessons that can help guide Korean policymakers...

This paper uses an asymmetric information framework to understand the causes of the recent financial crisis in Korea. It shows that the Korean data is consistent with this explanation of the crisis. It then draws on this analysis to discuss several lessons that can help guide Korean policymakers...

This comment on Alan Sykes Article "Economic 'Necessity' in International Law" on AJIL UNBOUND discusses the application of necessity clauses from an economic perspective especially in light of the incentives of investors, who are the third party beneficiaries of the investment treaty/contract....