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Issue Report

Collection of full-length papers and in-depth analysis of economic and management issues.

Measures to Reconstruct the Asian Economy

Measures to Reconstruct the Asian Economy

PARK Bun-Soon

June 1, 1999

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I. The importance and purpose of study

The Asian economy, which used to enjoy an unparalleled rate of growth, confronted its most severe hardship following the foreign exchange crisis in 1997. In 1999, the region’s economy seems to be recovering from the foreign exchange crisis. Eventually, however, stable growth of the East Asian economy is impossible without a recovery in real sectors such as consumption and investment. Accordingly, it is essential to study what conditions are required in order for East Asia to restore the energy that it used to have.

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