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
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... vulnerability to shocks , and complicated the adjustment process once the crisis hit . Reducing the risks of crisis in the future requires not only discrete policy and regulatory changes , but political and institutional changes that ...
... vulnerability to shocks , typically by weakening the regulatory process . Underneath these discrete policy problems lie deeper political and insti- tutional features of business - government relations in the region . In West- ern ...
Stephan Haggard. Business - Government Relations and Economic Vulnerability Rapid lending growth , an increase in corporate leveraging , declining returns on capital , and weaknesses in the financial sector contributed to the vulnerability ...
Sommario
Acknowledgments | 1 |
BusinessGovernment Relations and Economic Vulnerability | 15 |
The Government | 24 |
Copyright | |
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