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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... change of regime ( e.g. , from authoritarian to democratic rule ) . Recent cross - national statistical work by Leblang ( 1999 ) and Mei ( 1999 ) has shown that changes of government ( Leblang ) and elections ( Mei ) increase the ...
... changes of government , but also changes of regime : transitions to - but also from - democracy . To what extent were any of these patterns visible in East Asia ? The link between economic crises and political change begins with the ...
... changes were more fundamental changes in business - government relations between the late - Marcos , Aquino , and Ramos periods , changes representative of the " market - oriented popu- lism " outlined in chapter 3. Aquino did her share ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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