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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... strong yen , deregulation was followed by a rush of facility investments in a number of key industries , including steel , petrochemicals , semiconductors , and most controversially autos.18 As in the past , the rapid growth of facility ...
... Strong presidential system with majority in lower ( but not upper ) house Reduction of cronyism under Aquino and Ramos , although all parties dependent on business Not significant Strong presidential system Increasing concerns of crony ...
... strong control over legislators . With the transition to democratic rule , however , these conditions changed quite dramatically . The party ( and factions within it ) had strong interests to reach out to business groups for political ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
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