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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... problems associ- ated with growing government involvement in the financial sector . As in Indonesia , the problems were not simply ones of how the financial crisis was managed , but of the deepening general involvement of the government ...
... problems — indeed the party lost power over this issue in 1998 — it gener- ally was free of the more egregious patronage , pork - barrel spending , and corruption of a number of its opponents ( e.g. , in the 1996 elections ) . In the ...
... problems are not simply ones of administrative capacity ; they also involve avoiding problems of capture of the regulatory process , particularly with respect to the core agencies for financial regulation and the oversight of ...
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Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
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Avoiding the Apocalypse: The Future of the Two Koreas [ISBN not on www] Noland, Marcus ªÁºÒ§Êèǹ¢Í§Ë¹Ñ§Ê×Í - 2000 |
The International Financial Architecture: What's New? What's Missing? Peter B. Kenen ªÁºÒ§Êèǹ¢Í§Ë¹Ñ§Ê×Í - 2001 |