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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... administrative decrees and regulations to take precedence over constitutional guarantees . In addition to the constitutional court , the new charter establishes a range of independent judicial and quasi - judicial insti- tutions ...
... administrative constraints , those that faced serious administrative problems , and those that had more fundamental political flaws . In the first category belong the " cheap rice " program and efforts in the education area . In fiscal ...
... administrative capacity ( Park 1999 , 205 ) . Minimum benefits are low : 70 percent of the minimum wage , which is ... administrative experience in providing a social safety net . However , the problems of devising social policy are not ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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