Wow! eBook
The Political Economy of the Asian Financial Crisis
Author(s): Stephan Haggard (Author)
- Publisher: Peterson Institute for International Economics
- Publication Date: 1 Aug. 2000
- Edition: Illustrated
- Language: English
- Print length: 304 pages
- ISBN-10: 0881322830
- ISBN-13: 9780881322835
Book 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.
Editorial Reviews
Review
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"
About the Author
Stephan Haggard, visiting fellow, is the Lawrence and Sallye Krause Distinguished Professor at the School of Global Policy and Strategy, University of California, San Diego. He has been a consultant to AID, the World Bank, the United Nations Conference on Trade and Development, and the OECD and is a member of the Council on Foreign Relations. He is the coauthor of Witness to Transformation: Refugee Insights into North Korea (2011) and Famine in North Korea: Markets, Aid, and Reform (Columbia University Press, 2007).
