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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... respect to reputa- tion , perceptions of the integrity of the policymaking process , and inflows of foreign direct investment . As will be argued in chapter 5 , the controls were also part of an adjustment strategy that left close ...
... respect . The actual performance of the Estrada administration proved disap- pointing in a number of respects . By early 2000 , his popularity had plum- meted and his finance minister had resigned in protest at a growing " culture of ...
... respect to the private banking sector , the core of the new political bargain involves recognition of the need to develop franchise value and provide incentives for banks to develop reputational capital . This might require some ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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