This informative book provides a comprehensive examination of the dynamics of institutional reform and the transition of the South Korean economy. The analysis, based on an institutional approach, stretches over three decades of remarkable economic success under a state-led system, through the 1997 financial crisis, to the current market-oriented system.
O. Yul Kwon presents in-depth impact analyses of institutional reforms (economic policy, regulations, culture and politics) on areas such as the transitions of the overall economy, external economic relations, the business, financial and public sectors, and labour relations and social welfare. For each of these topics, institutional reforms are assessed against reform objectives and in comparison with other countries, and operational efficiency of relevant organisations is also analysed.
The Korean Economy in Transition provides valuable information for the academic audience, policymakers, and others interested in the South Korean experience.