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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... March , the IMF suspended disbursement of the second $ 3 billion tranche and on 10 March , the day of Suharto's formal election , the Asian Development Bank and World Bank followed suit . An important side effect of the political turn ...
... March 2000 ) 1 - week interbank 1 - month interbank 3 - month Exchange interbank rate KLCI 1997 January 7.21 7.30 7.33 2.492 1,227.99 February 7.33 7.27 7.32 2.486 1,254.90 March 6.96 7.32 7.35 2.477 1,234.61 April 7.03 7.34 7.36 2.502 ...
... March 1999 , and September 1999 . 8. The inclusion of the CP also served to splinter both the Democrat and Social Action parties , and in July 1999 the Social Action Party withdrew from the government after the party finally broke up ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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