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Keun Lee

Keun Lee

Writing for PS since 2021
9 commentaries

Keun Lee, a former vice chair of the National Economic Advisory Council for the President of South Korea, is Distinguished Professor of Economics at Seoul National University and the author of China’s Technological Leapfrogging and Economic Catch-up: A Schumpeterian Perspective (Oxford University Press, 2022).

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  1. Will the New Industrial Policy Work?
    klee11_MANAN VATSYAYANAAFP via Getty Images_vinfastvietnamelectricvehicle Manan Vatsyayana/AFP via Getty Images

    Will the New Industrial Policy Work?

    Feb 24, 2023 Keun Lee highlights common mistakes that governments must avoid when promoting critical sectors.

  2. A Korean Trajectory for China?
    klee10_HECTOR RETAMALAFP via Getty Images_china protest democracy HECTOR RETAMAL/AFP via Getty Images

    A Korean Trajectory for China?

    Dec 15, 2022 Keun Lee breathes new life into the hope that the emergence of a large middle class can spur democratization.

  3. How to Save Emerging Economies from Another Crisis
    klee9_Tomas CuestaGetty Images_inflation argentina Tomas Cuesta/Getty Images

    How to Save Emerging Economies from Another Crisis

    Oct 19, 2022 Keun Lee argues that, with the US exporting inflation, countries should embrace macroprudential measures.

  4. Sustaining Economic Growth in an Age of Deglobalization
    klee8_Giles ClarkeGetty Images_palm oil malaysia Giles Clarke/Getty Images

    Sustaining Economic Growth in an Age of Deglobalization

    Aug 17, 2022 Keun Lee sees the experiences of Malaysia and Chile as useful case studies for escaping the middle-income trap.

  5. How Realistic Are China’s Semiconductor Ambitions?
    klee7_Wang GangChina News Service via Getty Images_chinasemiconductor Wang Gang/China News Service via Getty Images

    How Realistic Are China’s Semiconductor Ambitions?

    Jun 27, 2022 Keun Lee considers what it would take for the country to leapfrog incumbents in an economically critical industry.

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  1. buiter45_Jabin BotsfordThe Washington Post via Getty Image_jeromepowell Jabin Botsford/The Washington Post via Getty Images
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    Price Stability vs. Financial Stability?

    Willem H. Buiter

    If the US Federal Reserve raises its policy interest rate by as much as is necessary to rein in inflation, it will most likely further depress the market value of the long-duration securities parked on many banks' balance sheets. So be it.

     thinks central banks can achieve both, despite the occurrence of a liquidity crisis amid high inflation.
  2. frankel145_ Richard Baker In Pictures via Getty Images_exchangerates Richard Baker/In Pictures via Getty Images
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    Fifty Years of Floating Currencies

    Jeffrey Frankel explains why the shift toward exchange-rate flexibility after 1973 was not a policy failure, as many believed.
  3. harrington34_Drew AngererGetty Images_avril haines Drew Angerer/Getty Images
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    What Do America’s Spies Really Think About China?

    Kent Harrington thinks the intelligence community’s annual threat assessment should have delved deeper on the issue.
  4. grafton2_ SIMON MAINAAFP via Getty Images_water SIMON MAINA/AFP via Getty Images
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    Waking Up to the World’s Water Crisis

    Quentin Grafton, et al. see three overarching priorities for the first global water conference in almost a half-century.
  5. benami199_BULENT KILICAFP via Getty Images_ukraine BULENT KILIC/AFP via Getty Images
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    Peace Requires Betrayal

    Shlomo Ben-Ami shows why Ukraine and Russia will most likely have to pursue an unpopular endgame to stop the bloodshed.
  6. reichlin29_David L. RyanThe Boston Globe via Getty Images_svb David L. Ryan/The Boston Globe via Getty Images
    2

    Lessons from the SVB Collapse

    Lucrezia Reichlin

    Although Silicon Valley Bank was not deemed to be systemically important, its insolvency forced the US Federal Reserve to head off systemic contagion and exposed the inadequacy of the FDIC’s partial deposit insurance regime. The financial-stability framework adopted after the 2008 crisis obviously needs another overhaul.

     considers what the bank’s failure should mean for the current financial-stability framework.
  7. foglia4_kentohGetty Images_bankingregulations kentoh/Getty Images
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    It’s the Banking Regulations, Stupid

    Antonio Foglia traces the Silicon Valley Bank failure back to fundamental flaws in the prevailing governance framework.
  8. mazzucato52_Mario TamaGetty Images_water agriculture drought Mario Tama/Getty Images
    4

    Confronting the Global Water Crisis

    Mariana Mazzucato, et al. offer a seven-point blueprint for preserving one of the planet’s most important natural systems.
  9. op_haass3_Chris HondrosGetty Images_iraqwar Chris Hondros/Getty Images
    10

    Revisiting America’s War of Choice in Iraq

    Richard Haass considers the enduring lessons from a foreign intervention that was both ill-conceived and poorly executed.

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