Brazil and South Korea: Economic Crisis and Restructuring (Institute of Latin American Studies) - Softcover

Softcover

ISBN 10: 1900039516 ISBN 13: 9781900039512

Publisher: Brookings Institution Press, 2003

Synopsis

The 1990s saw lower- and middle-income countries throughout the world come under pressure to open their domestic markets to international trade and investment. Despite the progressive implementation of market-friendly policies, many emerging market countries experienced financial market volatility, exchange rate collapse, and in slumps in output. These problems profoundly affected two of the world's largest middle-income industrialized countries - Brazil and South Korea. Both economies despite substantial industrial sectors and impressive postwar growth records, succumbed rapidly to crises. The two countries had very different models of industrialization and adopted contrasting approaches to trade and market reform. This book analyses the factors underlying the economic crises in South Korea and Brazil, pointing out the areas of similarity and divergence. It also reviews the paths of recovery taken by both economies, examining the role of policy and variations in structural characteristics.

About this title

Review

'a fine volume that should be read by all those working on industrial policy and performance in middle-income countries' -- Journal of Latin American Studies, vol. 36, part 4, November 2004 (Alfredo Saad-Filho, School of Oriental and African Studies, University of London)

About the Author

Edmund Amann is a lecturer at the School of Economic Studies, University of Manchester, UK.

Ha-Joon Chang is a reader in the Political Economy of Development at the Faculty of Economics, University of Cambridge, UK.

About this edition

• Publisher: Brookings Institution Press
• Publication date: 2003
• ISBN 10: 1900039516
• ISBN 13: 9781900039512
• Binding: Paperback
• Number of pages: 256
• Editor: Amann Edmund, Chang Ha-Joon