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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... tion ; negotiations for a new program began on 11 January . The IMF had already come to the conclusion that fiscal policy would need to be revised to accommodate the crisis . However , at the same time , the international financial ...
... tion and the ability to stimulate the economy - and they are hard to judge these effects were partly offset by the costs with respect to reputa- tion , perceptions of the integrity of the policymaking process , and inflows of foreign ...
... tion . Asian Survey 39 , 6 ( November - December ) : 1009-35 . Pakorn Vichyanond . 1994. Thailand's Financial System : Structure and Liberalization . Research Monograph 11. Bangkok : Thailand Development Research Institute . Pangestu ...
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Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
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