... system, which fixed exchange rates and controls over the movement of capital, was gradually abandoned in the developed world fifteen years after 1970. The chapter also looks into the Asian financial crisis of 1997–1998 which had been the result of excessive short-term lending and risky pegging...

...This introductory chapter briefly discusses the revival of financial activism in Korea, focusing on the developmental mindset and the ways it has historically shaped—and continues to shape—Korean policymakers' approach to financial governance. It argues that since the 1997–98 Asian financial crisis...

...The Asian financial crisis of 1997–1998 was supposed to be the death knell for the developmental state. The International Monetary Fund supplied emergency funds for shattered economies but demanded that states liberalize financial markets and withdraw from direct involvement in the economy...

...This chapter considers the impact of the 1997 Asian financial crisis on marriage and migration trends in the region. The precipitous economic downturn, financial collapse, and subsequent draconian restructuring agreement imposed by the International Monetary Fund (IMF) suggested to the Chosŏnjok...

... young and fragile democracy during the Asian financial crisis. The chapter also assesses the theory's logic about national stories and beliefs of linkage through a paired comparison of civic duty in South Korea and Taiwan. In an entirely different cultural and historical setting from East Asia...

...This chapter examines further liberalization of the Korean economy under President Kim Dae-Jung as an answer to the 1997 Asian financial crisis. It argues that Kim aimed to redress once and for all the main cost of Korea's “growth first” strategy. That cost was a grossly imbalanced industrial...