The Political Economy of the Asian Financial CrisisColumbia University Press, 1 µ.¤. 2010 - 304 ˹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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˹éÒ viii
... Philippines and Taiwan Compared 4 The Politics of Financial and Corporate Restructuring The Political Economy of Financial Reform The Political Economy of Corporate Restructuring Liberalizing Foreign Investment Conclusion 5 The Social ...
... Philippines and Taiwan Compared 4 The Politics of Financial and Corporate Restructuring The Political Economy of Financial Reform The Political Economy of Corporate Restructuring Liberalizing Foreign Investment Conclusion 5 The Social ...
˹éÒ ix
... Philippines 16 17 18 22 23 40 48 75 76 77 78 83 84 91 95 102 103 112 112 113 118 123 127 141 144 148 152 188 191 199 201 202 x Figures Figure 5.1 Gini coefficients in high- and low-inequality Institute for International Economics | http ...
... Philippines 16 17 18 22 23 40 48 75 76 77 78 83 84 91 95 102 103 112 112 113 118 123 127 141 144 148 152 188 191 199 201 202 x Figures Figure 5.1 Gini coefficients in high- and low-inequality Institute for International Economics | http ...
˹éÒ 1
... Philippines experienced a debt crisis in the early 1980s. Falling oil prices forced substantial adjustments on Indonesia in the mid-1980s, and a number of Southeast Asian countries experienced recession in 1985-86. But since the period ...
... Philippines experienced a debt crisis in the early 1980s. Falling oil prices forced substantial adjustments on Indonesia in the mid-1980s, and a number of Southeast Asian countries experienced recession in 1985-86. But since the period ...
˹éÒ 3
... Philippines followed suit, and for the remainder of the year, all the Southeast Asian currencies were allowed to float and depreciated sharply. The Philippines extended an existing International Monetary Fund standby arrangement in July ...
... Philippines followed suit, and for the remainder of the year, all the Southeast Asian currencies were allowed to float and depreciated sharply. The Philippines extended an existing International Monetary Fund standby arrangement in July ...
˹éÒ 4
... Philippines and Taiwan. This sequence of events was not only a shock to the region but a shock for the economics profession and the international policy community as well. Few outside the region had foreseen the nature or depth of the ...
... Philippines and Taiwan. This sequence of events was not only a shock to the region but a shock for the economics profession and the international policy community as well. Few outside the region had foreseen the nature or depth of the ...
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1 | |
15 | |
Ch
2 Incumbent Governments and the Politics of Crisis Management | 47 |
Ch 3 Crisis Political Change and Economic Reform | 86 |
Ch 4 The Politics of Financial and Corporate Restructuring | 139 |
Safety Nets and Recrafting the Social Contract | 183 |
A New Asian Miracle | 217 |
References | 239 |
Index | 255 |
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administrative Anwar Asia ASIAN FINANCIAL CRISIS assets authoritarian banking sector bankruptcy billion bumiputra business-government relations capital central bank chaebol chapter Chinese Chuan CLOB coalition controls corporate governance corporate restructuring corruption countries country’s crises CRISIS MANAGEMENT Danaharta debt democracies democratic Development Eastern Economic Review ECONOMIC REFORM effects efforts elections electoral finance companies financial and corporate financial institutions financial sector firms fiscal foreign funds Golkar government’s groups growth Habibie Hanbo IBRA important incentives increase INCUMBENT GOVERNMENTS Indonesia industrial initial interest investment investors issues Jomo Kim Dae Jung Kim Young Kim Young Sam labor legislative liberalization Mahathir Malaysia ment moral hazard National opposition particularly party percent Philippines POLITICAL CHANGE POLITICAL ECONOMY president private sector problems recapitalization region regulatory Renong ringgit risk role rule share social contract South Korea state-owned strategy substantial Suharto Table Thai Thailand tion transparency UMNO urban vulnerable World Bank