The Political Economy of the Asian Financial Crisis
The Asian crisis has sparked a thoroughgoing reappraisal of current international financial norms, the policy prescriptions of the International Monetary Fund & the adequacy of the existing financial architecture. To draw proper policy conclusions from the crisis, however, it is necessary to understand its domestic politics. In this study, political scientist Stephan Haggard focuses on the most seriously affected countries - Indonesia, Korea, Malaysia & Thailand - while also drawing lessons from those economies, such as Taiwan, that escaped the most severe distress. Haggard focuses on the political economy of the crisis, emphasizing the longer-run problems of moral hazard & corruption, the politics of crisis management & the political consequences if severe economic downturn. Looking forward, he focuses on two critical policy issues: changes in social safety nets in the crisis countries & efforts at corporate & financial restructuring.
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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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