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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... democratic governments in 1988-91 under Chatichai , and after 1992 . In sum , the new Thai democracy faced a number of problems in main- taining the political and institutional conditions required to hold private influences over public ...
... democratic , but in the late 1980s the government briefly signaled a political opening . Following the general elections of 1992 ( in which sup- port for Golkar slipped ) and Suharto's indirect election in March 1993 , politics turned ...
... democratic rule without any noticeable change in their economic performance , while in the Philippines economic performance improved markedly with the fall of Marcos and the transition to democratic rule . For every high - growth ...
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BusinessGovernment Relations and Economic Vulnerability | 15 |
Incumbent Governments and the Politics of Crisis Management | 47 |
Crisis Political Change and Economic Reform | 87 |
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