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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... costs to government of recapitalization by encouraging private recapitalization Decisiveness of government in identifying and financing " carve out " of NPLs ; market pricing of asset purchases ; timely rehabilitation or disposition of ...
... cost labor . Of course , exchange rate adjustments are designed pre- cisely to promote expenditure switching . But ... costs to consumers in the form of higher prices , as long as the demand for their product is not too price - elastic ...
... Costs of Protection in the United States Gary Clyde Hufbauer and Kimberly Ann Elliott January 1994 ISBN 0-88132-108-7 The Dynamics of Korean Economic Development Cho Soon March 1994 Korea - United States Cooperation in the New World ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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