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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... growth 9.2 5.0 5.8 8.6 9.0 7.1 5.5 Gross domestic investment 38.4 36.6 36.0 35.7 36.6 36.9 35.0 as share of GDP Bank credit to private sector 56.8 56.8 57.9 60.4 60.7 65.7 73.4 as share of GDP Malaysia GDP growth 8.8 7.8 8.4 9.4 9.4 8.6 ...
... growth that were broadly shared through rapid expansion of employment , increasing participation in the formal labor market , and rising real wages . Even if East Asian growth was primarily the result of sheer factor accumulation , that ...
... Growth . Journal of Economic Growth 1 , no . 1 ( March ) : 1-28 . Bauer , Joanne R. and Daniel A. Bell , eds . 1999. The East Asian Challenge for Human Rights . Cambridge : Cambridge University Press . Beegle , Kathleen , Elizabeth ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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