In 1960, South Korea's exports were about 1 percent of GDP, and the country's ability to import depended almost entirely on US aid. After changing its foreign exchange and trade policies in the mid-1960s, Korea saw a surge in exports to more than 10 percent of GDP by the end of the decade. What...

Contents -- Preface -- Chapter 1. The Great Depression and the Rise of Protectionism -- The Gold Standard and the Great Depression -- Moving toward Protectionism: The Smoot- Hawley Tariff -- Things Fall Apart-1931 -- Trade Policy Reaction -- The Open Economy Trilemma -- Conclusion -- Chapter 2....