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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... Thai commercial banks . A number of these compa- nies , which played a central role in making the multibillion - dollar com- mercial paper market , began to experience distress as early as mid - 1996 ( Overholt 1999 ) . The further ...
... Thai governments and oppositions , 1996-2000 Chavalit government ( 11 / 1996-11 / 1997 ) Chuan government ( 11 ... Thai 39 Chart Thai 39 SAP 20 SAP 20 Cobra faction 12 Prachakorn 18 Solidarity Thai Seritham 8228+ Chart Pattana 52 Chart ...
... Thai 1 Thai Palang Tham 1 Thai Muon Chon NAP = New Aspiration Party SAP = Social Action Party Number of seats 5 the need for all parties to compromise with regional power. Chavalit government ( 11 / 1996-11 / 1997 ) Chuan government ( 11 ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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