Welcome and Opening Remarks: Kyung Tae Lee and Yusuke Horiguchi

Friday, May 18

Welcome and Opening Remarks: Kyung Tae Lee and Yusuke Horiguchi

Session 1: Overview of the Korean Crisis and the Crisis-Resolution Strategy

Moderator - Il SaKong

Ajai Chopra, Kenneth Kang, Meral Karasulu, Hong Liang, Henry Ma, and Anthony Richards, “From Crisis to Recovery in Korea: Strategy, Achievements, and Lessons”

Yoon Je Cho, “What Have We Learned from the Korean Economic Adjustment Program?”

Discussants - Barry Eichengreen, Jang-Yung Lee

Session 2: Monetary Policies

Moderator - Stephen Grenville

Chae-Shick Chung and Se-Jik Kim, “New Evidence on High Interest Rate Policy During the Korean Crisis”

Anne O. Krueger and Jungho Yoo, “Falling Profitability, Higher Borrowing Costs, and Chaebol Finances During the Korean Crisis”

Discussants - Myung-Chang Chung, Bijan B. Aghevli

Session 3: Financial and Corporate Reform

Moderator - David T. Coe

William P. Mako, “Corporate Restructuring and Reform: Lessons from Korea”

Gyutaeg Oh and Changyong Rhee, “The Role of Corporate Bond Markets in the Korean Financial Restructuring Process”

Discussants - Simon Johnson, Won-Dong Cho

Session 4: Labor Markets and Corporate Governance

Moderator - Sung Hee Jwa

Dae Il Kim, “The Korean Labor Market: The Crisis and After”

Eric Friedman, Simon Johnson, and Todd Mitton, “Corporate Governance and Corporate Debt in Asian Crisis Countries”

Discussants - Hasung Jang, Zia Qureshi

Reception: Remarks by Deputy Prime Minister and Minister of Finance and Economy, Nyum Jin

Saturday, May 19

Session 5: After the Crisis

Moderator - Kyung Tae Lee

Robert J. Barro, “Economic Growth in East Asia Before and After the Financial Crisis”

Yung Chul Park and Jong-Wha Lee, “Recovery and Sustainability in East Asia”

Discussants - Charles Adams, Yong Jin Kim

Session 6: Implications for Future Crisis Management and the International Financial Architecture

Moderator - Tarrin Nimmanahaeminda

Woochan Kim and Yangho Byeon, “Restructuring Korean Banks’ Short-Term Debts”

Barry Eichengreen, “Strengthening the International Financial Architecture: Open Issues, Asian Concerns”

Michael Dooley, Rudi Dornbusch, and Yung Chul Park, “A Framework for Exchange Rate Policy in Korea”

Discussants - Anne O. Krueger, Jun Il Kim

Session 7: Lessons from the Korean Crisis and Recovery

Moderator - Yusuke Horiguchi

Panelists - Robert J. Barro, Pyung Joo Kim, Yung Chul Park, Hak Kil Pyo, and Eisuke Sakakibara