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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... restructuring process in the four countries . Bankruptcy laws were stronger in South Korea and Malaysia when the crisis hit ... restructuring Corporate restructuring Agency and mandate Ratio FINANCIAL AND CORPORATE RESTRUCTURING 147.
... restructuring of the banks to the task of corporate restructuring . IBRA's mandate extended only to bank restructuring and loans made by banks ; most large corporations had borrowed from foreign or domestic creditors as well , and those ...
... restructuring , 12 , 90 , 102-103 , 150-156 , 151-156 crisis management , 71 financial market liberalization , 37 industrial policy , 30 , 55 labor relations , 211 political liberalization , 42 charter change ( " cha - cha " ) movement ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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