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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Stephan Haggard. Incumbent Governments and the Politics of Crisis Management with ANDREW MACINTYRE Almost by definition , crisis settings are ones in which all ... incumbents 47 2 Incumbent Governments and the Politics of Crisis Management.
... incumbent governments to make difficult decisions.2 Moreover , the prospect that a political challenge - again ... incumbent governments facing electoral or non- electoral challenges may nonetheless be prone to delay policy actions that ...
... its authoritarian features , the Malaysian political sys- tem also provided mechanisms through which the prime minister could organize party and electoral support . In Indonesia , by INCUMBENT GOVERNMENTS AND CRISIS MANAGEMENT 71.
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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