The Political Economy of the Asian Financial CrisisColumbia University Press, 1 ott 2010 - 304 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 1-5 di 53
Pagina xi
... Effects of the Asian Currency Devaluations (1998). In an effort to help head off future crises, we recently published Goldstein's analysis, with Graciela Kaminsky and Carmen Reinhart, of Assessing Financial Vulnerability: An Early ...
... Effects of the Asian Currency Devaluations (1998). In an effort to help head off future crises, we recently published Goldstein's analysis, with Graciela Kaminsky and Carmen Reinhart, of Assessing Financial Vulnerability: An Early ...
Pagina xii
... effect of bringing democracy to Indonesia, the resulting political uncertainty contributed to the longest and deepest recession in the region. Haggard also dissects the unorthodox approach undertaken by Malaysia's Prime Minister ...
... effect of bringing democracy to Indonesia, the resulting political uncertainty contributed to the longest and deepest recession in the region. Haggard also dissects the unorthodox approach undertaken by Malaysia's Prime Minister ...
Pagina 5
... effect of inducing more capital inflows, thus further contributing to real appreciation. But there is both ongoing debate and important differences across countries with respect to their external position. Export growth slowed in all ...
... effect of inducing more capital inflows, thus further contributing to real appreciation. But there is both ongoing debate and important differences across countries with respect to their external position. Export growth slowed in all ...
Pagina 6
... effects of weak institutional development by the banks themselves, which tended to lend on the basis of collateral and personal relationships rather than cash flow; see chapter 1. 6 THE POLITICAL ECONOMY OF THE ASIAN FINANCIAL CRISIS 6 ...
... effects of weak institutional development by the banks themselves, which tended to lend on the basis of collateral and personal relationships rather than cash flow; see chapter 1. 6 THE POLITICAL ECONOMY OF THE ASIAN FINANCIAL CRISIS 6 ...
Pagina 7
... effects on the servicing costs of foreign debt (Fischer 1998). The evidence for perverse exchange rate effects is mixed at best (Goldfajn and Baig 1998; Dekle, Hsiao, and Wang 1998), and the IMF did in fact move— albeit perhaps too ...
... effects on the servicing costs of foreign debt (Fischer 1998). The evidence for perverse exchange rate effects is mixed at best (Goldfajn and Baig 1998; Dekle, Hsiao, and Wang 1998), and the IMF did in fact move— albeit perhaps too ...
Sommario
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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Parole e frasi comuni
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