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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... corruption . As we have seen , problems of corruption and cronyism were certainly in evidence . But the political problem extended beyond the illicit to the influence that business interests exercised over legislation , regulation , and ...
... corrupt since the first half of the 1980s . Moreover , corruption in these countries is less virulent than in Latin America , Africa , or the Soviet successor states . By the Trans- parency International data , the reduction in corruption ...
... corruption and regional- ism . Ongoing problems of corruption were linked to the rising costs of electoral politics , which in turn were attributed to the winner - take - all nature of single - member legislative districts . But the ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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