ENGLISH

The Political Economy of the Asian Financial Crisis

By Stephan Haggard

Book information

Year
2000
ISBN
0881322830, 9780881322835, 9781435692244
Open Library ID
OL8172777M
Language
english
Format
PDF
Filesize
2 MB (1632361 bytes)
Pages
304\9
Topic
Economy
Time added
2011-06-05 16:23:19

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, 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, and 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 and corruption, the politics of crisis management and the political consequences of severe economic downturn. Looking forward, he focuses on two critical policy issues: changes in social safety nets in the crisis countries and efforts at corporate and financial restructuring.

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