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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... strategy also requires substantial political capabilities . Selling assets , particularly to foreigners , and guaranteeing that foreclosure and bankruptcy processes are functioning can involve the same conflicts with debtors as do more ...
... strategy sought to limit public expense by forcing private recapitalization , and thus implicitly breaking the hold that a small number of banks and families had on the financial system . However , the government's restructuring plans ...
... strategy , and in cases where firms are in fact insolvent it is wholly justified . However , it is not clear that such a strategy makes sense for firms that are viable and have demonstrated their competitive powers . Rather , the ...
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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 |