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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... questions about Suharto's intentions . The decision to close the banks was ultimately confirmed , but Bambang was able to ... question of succession , and the dependence of the entire economy on the person of Suharto , became painfully ...
... question that political systems limited the participation of the public , opposition parties , and interest groups . Well before the financial crisis of 1997-98 , this " model " had undergone important changes of two sorts . On the ...
... question in the discussion in chapter 3 was the question of backlash : To what extent did the crisis give rise to parties and move- ments that were populist and anti - market in their orientation ? These political forces cannot be ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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