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The political economy of the Asian financial crisis / Stephan Haggard.
Lippincott Library HG187.A2 H34 2000
Available
- Format:
- Book
- Author/Creator:
- Haggard, Stephan.
- Language:
- English
- Subjects (All):
- Finance--Asia--Case studies.
- Finance.
- Financial crises--Asia--Case studies.
- Financial crises.
- Asia.
- Genre:
- Case studies.
- Physical Description:
- xviii, 272 pages ; 23 cm
- Place of Publication:
- Washington, DC : Institute for International Economics, 2000.
- Summary:
- Renowned political scientist Stephan Haggard examines the political aspects of the Asian financial crisis in the countries most affected: Korea, Thailand, Malaysia, and Indonesia. Haggard focuses on the political economy of the crisis, emphasizing the long-running problems of moral hazard and corruption, as well as the politics of crisis management and the political fallout that ensued.
- Contents:
- The Debate over Causes: A Brief Intellectual History 3
- Bringing Politics Back In 7
- The Arguments in More Detail 9
- 1 Business-Government Relations and Economic Vulnerability 15
- The Microeconomics of the Crisis 16
- Business-Government Relations: The Benefits 20
- The Concentration of Private Economic Power 21
- The Politics of Moral Hazard I: The Government and the Financial Sector 24
- The Politics of Moral Hazard II: Industrial Policy 30
- The "Capture" of Liberalization 32
- The Politics of Business-Government Relations 38
- 2 Incumbent Governments and the Politics of Crisis Management 47
- Political Sources of Uncertainty 49
- Thailand 51
- South Korea 55
- Malaysia 59
- Indonesia 65
- Appendix 2.1 The Political Economy of Malaysia's Capital Controls 73
- 3 Crisis, Political Change, and Economic Reform 87
- Thailand 92
- South Korea 100
- Malaysia 107
- Indonesia 114
- Appendix 3.1 Two that Got Away
- the Philippines and Taiwan Compared 126
- 4 The Politics of Financial and Corporate Restructuring 139
- The Political Economy of Financial Reform 141
- The Political Economy of Corporate Restructuring 146
- Liberalizing Foreign Investment 178
- 5 The Social Fallout: Safety Nets and Recrafting the Social Contract 183
- The Economics and Politics of Growth with Equity 185
- The Limits of the Model in the 1990s 187
- Who Got Hit? 190
- The Policy Response: The Political Economy of Social Policy 198
- 6 Conclusion: A New Asian Miracle 217
- The Political Economy of Financial Crises 218
- Crisis and Political Change 222
- Looking Forward I: The Reform of Business-Government Relations 224
- Looking Forward II: Toward a New Social Contract 230
- A New Asian Miracle 236.
- Notes:
- Includes bibliographical references (pages 239-253) and index.
- ISBN:
- 0881322830
- OCLC:
- 43791096
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