Annual World Bank Conference on Development Economics 2010, Global: Lessons from East Asia and the Global Financial Crisis

What caused the global financial crisis? How can the world economy recover? Should developing countries alter their growth strategies? What is the ideal role of the state? Updated papers from a June 2009 conference organized by the Republic of Korea, the Korea Development Institute, and the World Bank seek answers to these and other questions, looking for lessons from the Korean and East Asian experience in the late 1990s and from more recent experiences since 2008. Most papers include introductory summaries or abstracts. The first part of the book contains several keynote addresses on policy responses to the global financial crisis. The rest of the papers and corresponding comments are organized into five parts. In the first section, papers look at ways in which industrial policy can both stimulate and inhibit growth and development, and in the second section, contributors take a game theorey approach to the concept of social capital and how it works. Chapters in the third section analyze the causes and consequences of the global financial crisis, particularly with respect to reserve currency liquidity in East Asia, and make suggestions for reform. A section on sustainable global economics draws lessons from the crisis for national and international financial reform and lessons for emerging markets and developing countries. The final section of the book examines how international financial integration affects productivity and innovation. It also traces Korea's technological progress over the last 40 years. There is no subject index. Annotation c2011 Book News, Inc., Portland, OR (booknews.com)