1997년 아시아금융위기와 2008년 글로벌경제위기에 대한 대응실록 《경제위기 대응실록》의 영문판 『SURVIVORS BECOME THE STRONG』. 2005년에 출간된 《현장에서 본 한국경제 30년》의 후속편이랄 수 있다. 전작이 1970년대부터 1990년대까지 한국경제의 주요 경제정책이 만들어지고 시행되는 현장을 생생하게 진술하고 있다면, 이번 책에서는 두 번의 유례없는 세계사적인 대위기 속에서 한국경제가 어떻게 부침하며 응전해왔는지 그 이면까지를 꿰뚫어 보여준다. 이 책은 두 번의 위기 이면에 도사리고 있는 불편한 진실이 외면할 수 없는, 결코 외면해서는 안 되는 현실이라는 점을 일깨우며 중심국의 리더십과 주변국의 분발을 요구한다.
강만수
저자 : MAN-SOO KANG
저자 MAN-SOO KANG HAS TACKLED TWO ECONOMIC CRISES, ASIAN FINANCIAL CRISIS IN 1997 AND GLOBAL ECONOMIC CRISIS IN 2008, AS VICE MINISTER AND MINISTER OF FINANCE, AND SENIOR ECONOMIC ADVISOR TO THE PRESIDENT OF KOREA. HE ALSO HAS SERVED AS COMMISSIONER OF THE CUSTOMS, VICE MINISTER OF TRADE AND INDUSTRY, AND CHAIRMAN AND CEO OF THE KOREA DEVELOPMENT BANK. MAJOR ACHIEVEMENTS DURING HIS CAREER INCLUDE NEGOTIATION FOR BAIL-OUT PROGRAM WITH INTERNATIONAL MONETARY FUND AND RESHUFFLING KOREA’S CENTRAL BANKING AND REGULATORY SYSTEM IN 1997. HE ALSO IMPLEMENTED OVERALL REVISION FOR TAX SYSTEM INCLUDING INTRODUCTION OF VALUE ADDED TAX IN 1977. IN 2008, HE EXERCISED FOREIGN EXCHANGE AND TAX-CUT POLICIES FOR OVERCOMING THE GLOBAL ECONOMIC CRISIS. HE WROTE “EYE-WITNESSED DOCUMENTARY ON 30 YEARS OF KOREAN ECONOMY” DEALING HIS EXPERIENCES ON FISCAL AND FINANCIAL POLICIES IN THE GOVERNMENT. HE ATTENDED SEOUL NATIONAL UNIVERSITY FOR LAW AND NEW YORK UNIVERSITY FOR ECONOMICS.
PROLOGUE
CHAPTER 1 _ CRISES REDUX
01 Boom and Bust Cycle
Recurring crises
1997 Asian crisis: Temptation and mismatch
2008 global crisis: Imbalance and burst bubble
Crises in Korea: Trial and error
02 Bubbles Eventually Burst
Investor or speculator
Greed and speculation
Inevitable burst of bubble
03 Crises like Typhoons
Misjudgments by authorities
Fearful tranquility
Tariff and currency wars: Beggar-my-neighbor
Birth of IMF and GATT
CHAPTER 2 _ 1997 ASIAN FINANCIAL CRISIS
04 Liquidity Mismatch
Typhoon from Southeast Asia
Capital flood and currency appreciation
Sudden outflow of foreign money
Forced change: IMF program
Wounds of crisis
Asian cooperation: Chiang Mai Initiative
05 Korean Economy in a Nutcracker
Pre-crisis missteps
Nut in nutcracker
Overvalued won and flat tariff rate
Cracked nut: Deterioration in current account balance
Failure in customs management
Steps to improve competitiveness
06 1997 Foreign Exchange Crisis in Korea
Economic health indicator: Current account balance
Crisis prevention measures
Kia Motors: Too big to fail
Escaping trap of flat tariff rate
Overcoming trap of overvalued won
Fuse of a crisis: Merchant banks
Sharp withdrawals of short-term funds
Failed financial reforms
Efforts coming to naught
07 Forced Changes: IMF Bailout
Requesting IMF help
Strategies of negotiation with IMF
IMF economic program
Presidents’ talk: Finish in one day
Consensus on economic program
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