The Asian Financial Crisis and the Architecture of Global Finance (Cambridge Asia-Pacific Studies)
Cambridge University Press, 11/16/2000
EAN 9780521794220, ISBN10: 0521794226
Paperback, 328 pages, 22.9 x 15.2 x 2.1 cm
The financial crises across Asia in 1997Ã¢â‚¬â€œ98 ignited fierce debate about domestic economic weaknesses and flaws in the international financial system. Some analysts blamed Asian governments for inadequate prudential supervision, widespread failures of corporate governance and even 'crony capitalism'. Others assailed the inherent instability of global financial markets and what they considered to be hasty and ill-conceived liberalization taken at the behest of Western-dominated international financial institutions. In this volume a distinguished group of political scientists, economists and practitioners examines the political and economic causes and consequences of the crisis. They ask: To what extent were domestic economic factors to blame for the crises? Why were some economies more prone to crisis than others? What are the costs and benefits of international financial liberalization?
1. Causes and consequences of the Asian financial crisis Gregory W. Noble and John Ravenhill
2. Capital flows and crises Stephen Grenville
3. The political economy of the Asian financial crisis
Korea and Thailand compared Stephan Haggard and Andrew MacIntyre
4. The good, the bad, and the ugly? Korea, Taiwan and the financial crisis Gregory W. Noble and John Ravenhill
reforming the institutions of financial governance? Natasha Hamilton-Hart
6. Political impediments to far-reaching banking reforms in Japan
implications for Asia Jennifer Amyx
7. Dangers and opportunities
the implications of the Asian financial crisis for China Hongying Wang
8. The International Monetary Fund in the wake of the Asian crisis Barry Eichengreen
9. Taming the phoenix?
Monetary governance after the crisis Benjamin J. Cohen
10. The vagaries of debt
Indonesia and Korea Thomas M. Callaghy
11. The new international financial architecture and its limits Miles Kahler.