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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... risk arises as a result of liberalization , particularly of financial markets . In the absence of inde- pendent and capable regulatory institutions , financial market liberaliza- tion provides ample opportunities for private actors to ...
... Risk Services and published in the International Country Risk Guide ( ICRG ) . This data set includes a number of political risk variables , including an assessment of the degree to which payments are required at high political levels ...
Stephan Haggard. potential risks that are believed to arise in recrafting the social contract under democratic circumstances . The first risk is that democratic politics would place demands on gov- ernment that politicians would attempt ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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