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Political Economy of the Asian Financial Crisis
Book Data
August 2000
ISBN paper 0-88132-283-0
304 pp.
$18.00 $14.40
( 20 % discount)

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The Political Economy of the Asian Financial Crisis


by Stephan Haggard

"Haggard's depth and breadth of understanding of both the domestic politics and economic policies of all these countries is unrivalled, as also of the issues at stake on the business-government side throughout the region ..."

Bulletin of Indonesian Economic Studies
Australia National University

"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."

Choice

Description

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.

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Contents

Preface

Acknowledgments

Introduction: The Political Economy of the Asian Financial Crisis 156.2KB

1. Business-Government Relations and Economic Vulnerability 253.8KB

2. Incumbent Governments and the Politics of Crisis Management 287.4KB

3. Crisis, Political Change, and Economic Reform 334.9KB

4. The Politics of Financial and Corporate Restructuring 291.3KB

5. The Social Fallout: Safety Nets and Recrafting the Social Contract 261.7KB

6. Conclusion: A New Asian Miracle 185.7KB

References

Index


Other books of interest:
Asian Financial Crisis: Causes, Cures, and Systemic Implications
Asian Financial Crisis: Causes, Cures, and Systemic Implications
by Morris Goldstein
Global Economic Effects of the Asian Currency Devaluations
Global Economic Effects of the Asian Currency Devaluations
by Li-Gang Liu and
Sherman Robinson and
Zhi Wang and
Marcus Noland
Japan's Financial Crisis and Its Parallels to US Experience
Japan's Financial Crisis and Its Parallels to US Experience
edited by Adam S. Posen and
Ryoichi Mikitani
Private Capital Flows to Emerging Markets after the Mexican Crisis
Private Capital Flows to Emerging Markets after the Mexican Crisis
edited by Guillermo A. Calvo and
Morris Goldstein and
Eduard Hochreiter
Responding to Financial Crisis: Lessons from Asia Then, the United States and Europe Now
Responding to Financial Crisis: Lessons from Asia Then, the United States and Europe Now
edited by Changyong Rhee and
Adam S. Posen