"In 2002 a milestone occurred in the electronics industry. The market capitalization of Sony fell below that of Samsung for the first time. Why did the performance of Sony, which once dominated the global electronics industry, drop so rapidly while Samsung emerged from nowhere?" "This book from...

This paper addresses a puzzle: How is it possible that a country that has established a broad, export-oriented industrial base at record speed, remains vulnerable to the vicissitudes of international finance and currency markets? I argue that the Korean model that was tremendously successful for...