South Korea: Anatomy of a Crisis

Ha-Joon Chang is a professor of economics in the faculty of economics and politics at Cambridge University. He is the author of The Political Economy of Industrial Policy (New York: St. Martin’s, 1994), and coeditor with Bob Rowthorn of The Role of the State in Economic Change (Oxford: Oxford University Press, 1995). This article draws on “Korea: The Misunderstood Crisis,” World Development, August 1998, and “Interpreting the Korean Crisis,” coauthored with Hong-Jae Park and Chul Gyue Yoo, Cambridge Journal of Economics, November 1998.