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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... Debt and the Stability of the World Economy ( 1983 ) and International Debt : Systemic Risk and Policy Response ( 1984 ) were the first systematic analyses of the debt problems of the developing countries . C. Fred Bergsten , Cline ...
... debt Indonesia n.a. 47.6 59.2 60.4 58.4 58.2 56.7 South Korea 50.2 50.2 55.8 56.3 58.6 59.6 58.5 Malaysia 67.5 72.9 ... debt toward the short term.1 Not only did short - term debt increase during the decade , but it also began from a ...
... debt restructured to total debt , 8/1999 South Korea Financial Supervisory Commission , 4/1998 ; nominally London Rules , but through control of financial system , linked to reforms of corporate governance 40 percent Thailand Corporate Debt ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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