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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... contributed to the crises , then they demonstrated even less interest in its political consequences . But for citizens of the affected countries , the crisis was major political as well as economic news : Governments , and even regimes ...
... contributed to the slowdown that we have already noted . But Taiwan was a net creditor to the rest of the world and as a result was simply not vulnerable to the rapid withdrawal of foreign funds and exhaustion of reserves that were the ...
... contribution by employees and 3 percent contribution by employers . c . Varies by industry and amount of predetermined risk in that industry . d . The " Total " was calculated using the average Work Injury contribution by the employer ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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