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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... particularly after the transition to fully elected democratic governments in 1988-91 under Chatichai , and after 1992 . In sum , the new Thai democracy faced a number of problems in main- taining the political and institutional ...
... particularly prone to weaknesses in financial regulation and corporate governance . Government commitments to pri- vate - sector actors have strong implications for how firms behave ; without the capacity to monitor those business ...
... particularly in construction and to a lesser extent manufacturing , and those with less than secondary education . Workers and owners of small and medium - sized enterprises were hit particularly hard . 13. As with all countries ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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