The Political Economy of the Asian Financial Crisis
Stephan Haggard, Professor in the Graduate School of International Relations and Pacific Studies Stephan Haggard
Peterson Institute, 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.
The volume... provides an excellent overview of both the theories and facts of the crisis. Strongly recommended for academic collections, lower-division undergraduate through research.
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BusinessGovernment Relations and Economic Vulnerability
Incumbent Governments and the Politics of Crisis Management
Crisis Political Change and Economic Reform
The Politics of Financial and Corporate Restructuring
Safety Nets and Recrafting the Social Contract
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administrative Anwar Asian Financial Crisis assets August authoritarian Bangkok banking sector bankruptcy billion bumiputra business-government relations central bank chaebol changes chapter Chinese CLOB coalition corporate governance corporate restructuring corruption countries crises Danaharta debt democracies democratic Development East Asia Eastern Economic Review effect elections electoral exchange rate finance companies financial and corporate financial institutions financial sector firms fiscal Fred Bergsten Fund Golkar government's groups growth Habibie Haggard IBRA important incentives increase Indonesia industrial policy initial investors ISBN issues John Williamson Jomo June Kim Dae Jung Kim Young labor legislation liberalization Mahathir Malaysia ment moral hazard National nonperforming loans opposition particularly party percent Philippines political private sector problems recapitalization reform regime region regulatory Renong ringgit risk role rule September share Singapore social contract South Korea state-owned strategy substantial Suharto Table Taiwan Thai Thailand tion Trade transparency UMNO University Press urban vulnerability World Bank