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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... Close links between legislators of all parties and business President Kim Young Sam , 2 / 1993-2 / 1998 ( 11/1997 ) Prime Minster Mohammed Mahathir ; first assumed office 7/1981 , most recently elected 4/1995 and 11/1999 ( 7/1997 ) ...
... close associates to the central bank . In the first year after the crisis broke , Prime Minister Mahathir suc- ceeded in drawing attention to weaknesses in the international financial architecture and the benefits of capital controls ...
... close the foreign exchange market . The question of how to handle longer investments held by Singa- pore investors in offshore shares proved much more complicated ; under- standing it requires some exposition of how the offshore market ...
Sommario
BusinessGovernment Relations and Economic Vulnerability | 15 |
Tables | 16 |
4 The concentration of private economic power | 22 |
Copyright | |
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