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. |
¨Ò¡´éÒ¹ã¹Ë¹Ñ§Ê×Í
¼Å¡Òäé¹ËÒ 1 - 3 ¨Ò¡ 24
... extent as well . But the democracies had an important self - correcting mechanism that the authoritarian regimes lacked : The system of government enjoyed support even if incumbents did not , and elections could bring new reformist ...
... extent of corporate leveraging in the 1990s . Moreover , the combination of high spreads between lending and deposit rates and the notoriously low profit- ability of Korean banks was a clear sign of extensive nonperforming loans ...
... extent to which politicians rely on particular firms and groups for political support , the transparency of business - government relations , and whether institu- tions encourage healthy or perverse private - sector influence on policy ...
à¹×éÍËÒ
Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
ÅÔ¢ÊÔ·¸Ôì | |
10 à¹×éÍËÒÍ×è¹æ äÁèä´éáÊ´§äÇé