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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... President B.J. Habibie ( 5 / 1998 ) , President Wahid Abdurrahman ( 11/1999 ) Parliamentary elections 6/1999 ; indirect election of president , 11/1999 Ongoing antigovernment and antimilitary demonstrations ; rioting in Jakarta , 11 ...
... president's victory in Seoul provided a mandate to continue and deepen the reform process . Shortly after the election , the government unveiled another round of reform measures ( Far Eastern Economic Review , 18 June 1998 , 24 ) . The ...
... president , and a strongly contested but highly uncertain presidential race . Just before the onset of the regional crisis , the Ramos administration - operating nominally through its supporters - launched an initiative to amend the ...
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Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
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