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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... transparency ( Corsetti , Pesenti , and Roubini 1998 ; Radelet and Sachs 1998a , 1998b ; Ito 1999 ) . A comparative overview by Caprio ( 1998 ) ranked 12 middle - income countries in East Asia and Latin America on a number of indicators ...
... transparency and disclo- sure and increasingly stringent loan classification and provisioning requirements ( OECD 1999 , 84-87 ) . The question of foreign entry did pose political dilemmas for the government . The sale of the two ...
... transparency and the provision of infor- mation are minimum first steps . If such contributions are transparent , voters at least have the ability to reach judgments about the political commitments of their legislators and can vote ...
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Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
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