Interpreting the Korean crisis: financial liberalisation, industrial policy and corporate governance
探讨韩国危机的三个争议焦点：金融自由化、产业政策和公司治理，认为危机源于传统机制被拆除而非延续，且公司治理并非主因也无需彻底西化。
This article examines the three most contentious issues regarding the origins of and the solutions to the current Korean crisis--namely, financial liberalization, industrial policy, and corporate governance. The authors argue that it was the dismantling of the traditional mechanisms of industrial policy and financial regulation, rather than the perpetuation of the traditional regime, that generated the crisis. They also point out that the allegedly pathological corporate governance system was neither a main cause of the crisis on its own nor something that needs radical restructuring in the Anglo-American direction before the country can resume its growth. Copyright 1998 by Oxford University Press.