The Political Economy of the Asian Financial CrisisInstitute for International Economics, 2000 - 272 pagine 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. |
Dall'interno del libro
Risultati 1-3 di 27
... bankruptcy " pact that allowed them to continue to lend to troubled borrowers . " The government supplemented the program by injecting liquidity into the banking system through the purchase of nonperforming assets by the Korean Asset ...
... bankruptcy process and clear enforcement of bankruptcy and fore- closure laws are not only important for managing actual firm failures , but also for providing incentives for creditors and debtors to reach out- of - court settlements ...
... bankruptcy reform was first vetted in early 1998 , objections centered on the relative powers granted to creditors and debtors in the new process , including the ability to appoint administrators who would influence the restructuring ...
Sommario
Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
Copyright | |
10 sezioni non visualizzate