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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... Fund savings when they left Singapore , whereas West Malaysians could not because they typically return regularly for employment . Table A2.6 External sources of funds , 1998-2000 Source Funds INCUMBENT GOVERNMENTS AND CRISIS MANAGEMENT 83.
... Funds approved or disbursed World Bank Funds ( millions US dollars ) 700 Japan Export - Import Bank ( JEXIM ) IA JEXIM II 300 700 Islamic Development Bank 25 Sumitomo - Nomura Bank , Japan 665 OECF Phase I 1,100 Consortium of foreign ...
... funds paralleled the problems we have seen in Indonesia and Thailand with government employment programs ; the administrative capacity to move funds effi- ciently was lacking , substantially diminishing the programs ' short - term ...
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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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