The Political Economy of the Asian Financial CrisisInstitute for International Economics, 2000 - 272 ˹éÒ The Asian crisis has sparked a thoroughgoing reappraisal of current international financial norms, the policy prescriptions of the International Monetary Fund, and the adequacy of the existing financial architecture. To draw proper policy conclusions from the crisis, it is necessary to understand exactly what happened and why from both a political and an economic perspective. In this study, renowned political scientist Stephan Haggard examines the political aspects of the crisis in the countries most affected--Korea, Thailand, Malaysia, and Indonesia. Haggard focuses on the political economy of the crisis, emphasizing the longer-run problems of moral hazard and corruption, as well as the politics of crisis management and the political fallout that ensued. He looks at the degree to which each government has rewoven the social safety net and discusses corporate and financial restructuring and greater transparency in business-government relations. Professor Haggard provides a counterpoint to the analysis by examining why Singapore, Taiwan, and the Philippines escaped financial calamity. |
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... World Bank was also stung in mid- 1998 by the " revelation " that some Bank - supported programs were subject to political leakage , a fact that could hardly have been surprising given the nature of the country's political system and ...
... Bank for International Settlements . 2000. Compendium of Documents Produced by the Basel Committee on Banking ... World Bank ( May ) . Washington : World Bank . Bhagwati , Jagdish . 1998a . The Capital Myth . Foreign Affairs 77 , no . 3 ...
... World Bank . 1993. The East Asian Miracle . New York : Oxford University Press . World Bank . 1998a . East Asia : Road to Recovery . Washington : World Bank . World Bank . 1998b . Indonesia in Crisis : A Macroeconomic Update . Washington : ...
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Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
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