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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... companies , Finance One , was seeking a merger with a bank to stave off collapse . By the end of February , Financial Institutions Devel- opment Fund ( FIDF ) assistance extended to 14 companies and totaled Bt50 billion ( Nukul ...
... companies and banks as well as about the government's ability to follow through with its restructuring plans . Such fears proved well founded . The original Ministry of Finance report showed that 18 finance companies and 3 banks faced ...
... companies would be closed , and that the government would guarantee the closed finance companies loans and deposits . Both measures had profound implications for the FIDF , to which the remaining finance companies increasingly turned ...
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Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
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