Global Economic Crisis

Impacts, Transmission and Recovery

KDI/EWC series on Economic Policy

Edited by Maurice Obstfeld, Class of 1958 Professor of Economics, University of California, Berkeley, Dongchul Cho, Member of the Monetary Policy Board, The Bank of Korea and former Chief Economist, Korea Development Institute and Andrew Mason, Professor Emeritus of Economics, University of Hawaii at Manoa and Adjunct Senior Fellow, East-West Center, Hawaii, US

The expert contributors compare the recent crisis with earlier crises, explore international aspects of the crisis from the perspectives of financial markets and trade, and examine macroeconomic policy responses. In so doing, they address important questions including: How did this crisis differ from those suffered previously? How and why did flaws in financial markets contribute to the crisis? How important were global imbalances and global overheating in explaining the global meltdown? Did different pre-crisis fundamentals generate different post-crisis performances? And, how severe were the economic shocks to countries such as Korea and other emerging economies?