The 1997 Asian financial crisis and the 2008 global financial crisis highlighted the vulnerability of capital markets in many emerging economies. Korea, for example, did not rely greatly on foreign financial institutions to supply foreign currencies, and yet Korea experienced the sudden disruptions of rapid and massive inflows and outflows of foreign currencies during these periods. The crises raised issues about such vulnerabilities and the extent to which they are related to international financial systems and global financial institutions. With the theme of Financial Regulations on International Capital Flows and Exchange Rates, the 2012 EWC/KDI Conference will investigate financial regulations on international capital flows and exchange rates from a cross-country perspective and options relating to the vulnerability of capital markets in the future.
Coordinators: Andrew Mason and Sang-Hyop Lee