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The Korean financial crisis of 1997/98 and its implications for the global financial system

In: Globalization and Economic Development

Author

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  • Irma Adelman
  • Song Byung Nak

Abstract

Globalization is widely regarded as a means not only of ensuring efficiency and growth, but also of achieving equity and development for those countries operating in the global economy. The book argues that this perception of globalization as the road to development has lost its lustre. The experience of the 1990s belied expectation of the gains, such as faster growth and reduced poverty, which could be achieved through closer integration in the world economy.

Suggested Citation

  • Irma Adelman & Song Byung Nak, 2001. "The Korean financial crisis of 1997/98 and its implications for the global financial system," Chapters, in: Servaas Storm & C. W.M. Naastepad (ed.), Globalization and Economic Development, chapter 5, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:2414_5
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    Keywords

    Development Studies; Economics and Finance;

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