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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... particularly where governments have a history of responding to business pressures or the interests of particular firms . How did different types of governments - democracies , dictatorships , and varieties of each - fare in managing the ...
... particularly a reduction in cronyism and a strengthening of the regulatory environment . In the short run , politics did contribute to the Philippines ' troubles , particularly the campaign to extend Ramos ' term . Moreover , the need ...
... particularly true in the three Southeast Asian countries , which took advantage of the sharp appreciation of the yen in the mid - 1980s to position themselves as major sites for manufacturing investment - not only from Japan , but from ...
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Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
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