Confronting South Korea's Next Crisis: Rigidities, Polarization, and Fear of Japanification

ISBN-13: 9780198864424 / Angielski / Twarda / 2022 / 704 str.

DeP Professor of Economics Jaejoon (Professor of Economics

Recenzje

The economic miracle is well known, how South Korea transformed its economy within three decades to emerge as a leading innovation and technology hub. South Korea's influence and production sphere has expanded into culture, with K-pop group "BTS", Oscar winner "Parasite" and Netflix hit "Squid Games" capturing the world's imagination. But the Asian financial crisis continues to cast a long shadow over the Korean miracle and remains a constant reminder of what can go wrong. Jaejoon Woo goes beneath the shiny surface and confronts the widening fractures - rising income inequality, an aging population, mounting household debt and populist politics. Jaejoon argues that active government policies, structural reforms and a stronger social safety net is needed to avoid the next crisis. Policymakers and investors should take heed to the undercurrents and flashing amber lights.

O autorze

Jaejoon Woo is an Associate Professor of Economics at DePaul University. Previously, he served as Chief Korea Economist at Bank of America Merrill Lynch and as Senior Economist at the IMF. Also, he held an economist position at the OECD. He served as Member of the International Finance Development Council for Ministry of Strategy and Finance. He taught at Harvard University, Helsinki School of Economics (now Aalto University), and Sciences Po. He received his PhD in economics from Harvard University, and his research areas include macroeconomics, political economy, fiscal policy, inequality, and Korea. He wrote over 145 market-oriented research notes on Korea at BAML, and published 3 books and 32 articles, including in the leading economics journals such as Review of Economics and Statistics, Journal of Public Economics, European Economic Review, Journal of Development Economics, and Economica. His works are featured in The Economist and Financial Times.