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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... billion and 81 percent to $ 5.1 billion , respectively ) in comparison with a decline in Malaysia from $ 5.1 to $ 3.7 billion ( Asian Wall Street Journal , 24 September 1999 ) . A World Bank source report offers somewhat different ...
... billion injected into 9 commercial banks , 1/98 . $ 8.9 billion for private banks and $ 11.7 billion for state banks , plan announced , 8/1998 $ 1.6 billion injected into 10 financial institutions , 7 / 1998 $ 41 billion plan announced ...
... billion , BCB will be Malaysia's largest banking group after Malayan Banking . To ensure the new bank is free of encumbrances , it was granted an option to sell some RM5 billion of Bank Bumiputra's nonperforming loans to Danaharta at ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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