Author: Jomo Kwame Sundaram
Publisher: Hong Kong University Press
ISBN: 9789622094758
Category : Capital market
Languages : en
Pages : 276
Book Description
This important book provides a cogent critique of the nature of Southeast Asian capitalism. It argues powerfully that the crises are due not to excessive regulation, but to too much financial liberalisation and a consequent undermining of monetary and fis
Tigers in Trouble
Author: Jomo Kwame Sundaram
Publisher: Hong Kong University Press
ISBN: 9789622094758
Category : Capital market
Languages : en
Pages : 276
Book Description
This important book provides a cogent critique of the nature of Southeast Asian capitalism. It argues powerfully that the crises are due not to excessive regulation, but to too much financial liberalisation and a consequent undermining of monetary and fis
Publisher: Hong Kong University Press
ISBN: 9789622094758
Category : Capital market
Languages : en
Pages : 276
Book Description
This important book provides a cogent critique of the nature of Southeast Asian capitalism. It argues powerfully that the crises are due not to excessive regulation, but to too much financial liberalisation and a consequent undermining of monetary and fis
Changing Governance and Public Policy in East Asia
Author: Ka Ho Mok
Publisher: Routledge
ISBN: 1134118260
Category : Business & Economics
Languages : en
Pages : 434
Book Description
The search for good governance has become an increasingly important element of public policy and public management and is high on the political agenda of East Asian countries. The need for robust governance structures and institutions was brought into sharp focus by the Asian Financial Crisis which adversely affected most East Asian societies. Since then they have begun to look for ways to restructure their public administration and political systems in order to develop new mechanisms and structures to promote good governance. This book focuses on how selected Asian states have responded to the growing impact of "liberalizing and marketizing trends" in public policy formulation and public management. To what extent is the "state-guided" regime in Asia still relevant to governing public policy / public management? What are the policy implications for a growing number of Asian states which are pursuing more pro-competition policy instruments? The book is a timely and important collection that offers critical analysis of the search for new governance in Asia and compares and contrasts experiences in selected Asian societies such as China, Japan, Hong Kong, Taiwan, South Korea, Singapore, and other parts of South East Asia. Chapters are written by leading scholars in the fields of comparative development, policy and governance studies from Hong Kong, Macau, Taiwan, China, Singapore, Japan and the United Kingdom.
Publisher: Routledge
ISBN: 1134118260
Category : Business & Economics
Languages : en
Pages : 434
Book Description
The search for good governance has become an increasingly important element of public policy and public management and is high on the political agenda of East Asian countries. The need for robust governance structures and institutions was brought into sharp focus by the Asian Financial Crisis which adversely affected most East Asian societies. Since then they have begun to look for ways to restructure their public administration and political systems in order to develop new mechanisms and structures to promote good governance. This book focuses on how selected Asian states have responded to the growing impact of "liberalizing and marketizing trends" in public policy formulation and public management. To what extent is the "state-guided" regime in Asia still relevant to governing public policy / public management? What are the policy implications for a growing number of Asian states which are pursuing more pro-competition policy instruments? The book is a timely and important collection that offers critical analysis of the search for new governance in Asia and compares and contrasts experiences in selected Asian societies such as China, Japan, Hong Kong, Taiwan, South Korea, Singapore, and other parts of South East Asia. Chapters are written by leading scholars in the fields of comparative development, policy and governance studies from Hong Kong, Macau, Taiwan, China, Singapore, Japan and the United Kingdom.
Governing Finance
Author: Andrew Walter
Publisher: Cornell University Press
ISBN: 0801458153
Category : Business & Economics
Languages : en
Pages : 255
Book Description
The international financial community blamed the Asian crisis of 1997–1998 on deep failures of domestic financial governance. To avoid similar crises in the future, this community adopted and promoted a set of international "best practice" standards of financial governance. The G7 asked specialized public and private sector bodies to set international standards, and tasked the International Monetary Fund and the World Bank with their global dissemination. Non-Western countries were thereby encouraged to emulate Western practices in banking and securities supervision, corporate governance, financial disclosure, and policy transparency. In Governing Finance, Andrew Walter explains why Indonesia, Malaysia, South Korea, and Thailand—key targets and test cases of this international standards project—were placed under intense pressure to transform their domestic financial governance. Walter finds that the depth of the economic crisis, and more enduring aspects of Asian capitalism, such as family ownership of firms, made substantive compliance with international standards very costly for the private sector and politically difficult for governments to achieve. In spite of international compliance pressure, the result was varying degrees of cosmetic or "mock" compliance. In a book containing lessons for any agency or country attempting to implement lasting change in financial governance, Walter emphasizes the limits of global regulatory convergence in the absence of support from domestic politicians, institutions, and firms.
Publisher: Cornell University Press
ISBN: 0801458153
Category : Business & Economics
Languages : en
Pages : 255
Book Description
The international financial community blamed the Asian crisis of 1997–1998 on deep failures of domestic financial governance. To avoid similar crises in the future, this community adopted and promoted a set of international "best practice" standards of financial governance. The G7 asked specialized public and private sector bodies to set international standards, and tasked the International Monetary Fund and the World Bank with their global dissemination. Non-Western countries were thereby encouraged to emulate Western practices in banking and securities supervision, corporate governance, financial disclosure, and policy transparency. In Governing Finance, Andrew Walter explains why Indonesia, Malaysia, South Korea, and Thailand—key targets and test cases of this international standards project—were placed under intense pressure to transform their domestic financial governance. Walter finds that the depth of the economic crisis, and more enduring aspects of Asian capitalism, such as family ownership of firms, made substantive compliance with international standards very costly for the private sector and politically difficult for governments to achieve. In spite of international compliance pressure, the result was varying degrees of cosmetic or "mock" compliance. In a book containing lessons for any agency or country attempting to implement lasting change in financial governance, Walter emphasizes the limits of global regulatory convergence in the absence of support from domestic politicians, institutions, and firms.
Two Crises, Different Outcomes
Author: T. J. Pempel
Publisher: Cornell University Press
ISBN: 0801455014
Category : Political Science
Languages : en
Pages : 280
Book Description
Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008–9 and the Asian financial crisis of 1997–98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe. Much had changed across the intervening decade, not least that China rather than Japan had become the locomotive of regional growth, and that the East Asian economies had taken numerous steps to buffer their financial structures and regulatory regimes. This time Asia avoided disaster; it bounced back quickly after the initial hit and has been growing in a resilient fashion ever since. The authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession. Drawing on a mixture of single-country expertise and comparative analysis, they conclude by assessing the long-term prospects that Asian countries will continue their recent success.
Publisher: Cornell University Press
ISBN: 0801455014
Category : Political Science
Languages : en
Pages : 280
Book Description
Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008–9 and the Asian financial crisis of 1997–98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe. Much had changed across the intervening decade, not least that China rather than Japan had become the locomotive of regional growth, and that the East Asian economies had taken numerous steps to buffer their financial structures and regulatory regimes. This time Asia avoided disaster; it bounced back quickly after the initial hit and has been growing in a resilient fashion ever since. The authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession. Drawing on a mixture of single-country expertise and comparative analysis, they conclude by assessing the long-term prospects that Asian countries will continue their recent success.
Why Austerity Persists
Author: Jon Shefner
Publisher: John Wiley & Sons
ISBN: 1509509909
Category : Social Science
Languages : en
Pages : 173
Book Description
Several nations in the Global North have turned to austerity policies in an effort to resolve recent financial ills. What many failed to recognize is the longer history and varied pattern of such policies in the Global South over preceding decades – policies which had largely proven to fail. Shefner and Blad trace the 45-year history of austerity and how it became the go-to policy to resolve a host of economic problems. The authors use a variety of international cases to address how austerity has been implemented, who has been hurt, and who has benefited. They argue that the policy has been used to address very different kinds of crises, making states and polities responsible for a variety of errors and misdeeds of private actors. The book answers a number of important questions: why austerity persists as a policy aimed at resolving national crises despite evidence that it often does not work; how the policy has evolved over recent decades; and which powerful people and institutions have helped impose it across the globe. This timely book will appeal to students, researchers, and policymakers interested in globalization, development, political economy, and economic sociology.
Publisher: John Wiley & Sons
ISBN: 1509509909
Category : Social Science
Languages : en
Pages : 173
Book Description
Several nations in the Global North have turned to austerity policies in an effort to resolve recent financial ills. What many failed to recognize is the longer history and varied pattern of such policies in the Global South over preceding decades – policies which had largely proven to fail. Shefner and Blad trace the 45-year history of austerity and how it became the go-to policy to resolve a host of economic problems. The authors use a variety of international cases to address how austerity has been implemented, who has been hurt, and who has benefited. They argue that the policy has been used to address very different kinds of crises, making states and polities responsible for a variety of errors and misdeeds of private actors. The book answers a number of important questions: why austerity persists as a policy aimed at resolving national crises despite evidence that it often does not work; how the policy has evolved over recent decades; and which powerful people and institutions have helped impose it across the globe. This timely book will appeal to students, researchers, and policymakers interested in globalization, development, political economy, and economic sociology.
Governing the Market
Author: Robert Wade
Publisher: Princeton University Press
ISBN: 0691187185
Category : Business & Economics
Languages : en
Pages : 495
Book Description
Published originally in 1990 to critical acclaim, Robert Wade's Governing the Market quickly established itself as a standard in contemporary political economy. In it, Wade challenged claims both of those who saw the East Asian story as a vindication of free market principles and of those who attributed the success of Taiwan and other countries to government intervention. Instead, Wade turned attention to the way allocation decisions were divided between markets and public administration and the synergy between them. Now, in a new introduction to this paperback edition, Wade reviews the debate about industrial policy in East and Southeast Asia and chronicles the changing fortunes of these economies over the 1990s. He extends the original argument to explain the boom of the first half of the decade and the crash of the second, stressing the links between corporations, banks, governments, international capital markets, and the International Monetary Fund. From this, Wade goes on to outline a new agenda for national and international development policy.
Publisher: Princeton University Press
ISBN: 0691187185
Category : Business & Economics
Languages : en
Pages : 495
Book Description
Published originally in 1990 to critical acclaim, Robert Wade's Governing the Market quickly established itself as a standard in contemporary political economy. In it, Wade challenged claims both of those who saw the East Asian story as a vindication of free market principles and of those who attributed the success of Taiwan and other countries to government intervention. Instead, Wade turned attention to the way allocation decisions were divided between markets and public administration and the synergy between them. Now, in a new introduction to this paperback edition, Wade reviews the debate about industrial policy in East and Southeast Asia and chronicles the changing fortunes of these economies over the 1990s. He extends the original argument to explain the boom of the first half of the decade and the crash of the second, stressing the links between corporations, banks, governments, international capital markets, and the International Monetary Fund. From this, Wade goes on to outline a new agenda for national and international development policy.
The Political Economy of East Asia
Author: Ming Wan
Publisher: SAGE
ISBN: 1483305325
Category : Political Science
Languages : en
Pages : 656
Book Description
For students of international political economy, it is hard to ignore the growth, dynamism, and global impact of East Asia. Japan and China are two of the largest economies in the world, in a region now accounting for almost 30 percent more trade than the United States, Canada, and Mexico combined. What explains this increasing wealth and burgeoning power? In his new text, Ming Wan illustrates the diverse ways that the domestic politics and policies of countries within East Asia affect the region’s production, trade, exchange rates, and development, and are in turn affected by global market forces and international institutions. Unlike most other texts on East Asian political economy that are essentially comparisons of major individual countries, Wan effectively integrates key thematic issues and country-specific examples to present a comprehensive overview of East Asia’s role in the world economy. The text first takes a comparative look at the region’s economic systems and institutions to explore their evolution—a rich and complex story that looks beyond the response to Western pressures. Later chapters are organized around close examination of production, trade, finance, and monetary relations. While featuring extended discussion of China, Japan, South Korea, and Taiwan, Wan is inclusive in his analysis, with coverage including Myanmar, Thailand, Laos, Vietnam, Cambodia, Malaysia, Singapore, Indonesia, Brunei, and the Philippines. The text is richly illustrated with more than fifty tables, figures, and maps that present the latest economic and political data to help students better visualize trends and demographics. Each chapter ends with extensive lists of suggested readings.
Publisher: SAGE
ISBN: 1483305325
Category : Political Science
Languages : en
Pages : 656
Book Description
For students of international political economy, it is hard to ignore the growth, dynamism, and global impact of East Asia. Japan and China are two of the largest economies in the world, in a region now accounting for almost 30 percent more trade than the United States, Canada, and Mexico combined. What explains this increasing wealth and burgeoning power? In his new text, Ming Wan illustrates the diverse ways that the domestic politics and policies of countries within East Asia affect the region’s production, trade, exchange rates, and development, and are in turn affected by global market forces and international institutions. Unlike most other texts on East Asian political economy that are essentially comparisons of major individual countries, Wan effectively integrates key thematic issues and country-specific examples to present a comprehensive overview of East Asia’s role in the world economy. The text first takes a comparative look at the region’s economic systems and institutions to explore their evolution—a rich and complex story that looks beyond the response to Western pressures. Later chapters are organized around close examination of production, trade, finance, and monetary relations. While featuring extended discussion of China, Japan, South Korea, and Taiwan, Wan is inclusive in his analysis, with coverage including Myanmar, Thailand, Laos, Vietnam, Cambodia, Malaysia, Singapore, Indonesia, Brunei, and the Philippines. The text is richly illustrated with more than fifty tables, figures, and maps that present the latest economic and political data to help students better visualize trends and demographics. Each chapter ends with extensive lists of suggested readings.
Rethinking the East Asian Miracle
Author: Joseph E. Stiglitz
Publisher: World Bank Publications
ISBN: 0195216008
Category : Political Science
Languages : en
Pages : 538
Book Description
This volume provides highly illuminating, analytic perspectives on key facets of the East Asian economies. It discusses weaknesses in the financial sector, corporate governance, exchange rate and trade policies, regulatory capability, and proposes remedies. Rethinking the East Asian Miracle is an indispensable book for all those with an interest in East Asia's prospects in the early decades of the new century.
Publisher: World Bank Publications
ISBN: 0195216008
Category : Political Science
Languages : en
Pages : 538
Book Description
This volume provides highly illuminating, analytic perspectives on key facets of the East Asian economies. It discusses weaknesses in the financial sector, corporate governance, exchange rate and trade policies, regulatory capability, and proposes remedies. Rethinking the East Asian Miracle is an indispensable book for all those with an interest in East Asia's prospects in the early decades of the new century.
A Resurgent East Asia
Author: Andrew D. Mason
Publisher: World Bank Publications
ISBN: 146481371X
Category : Business & Economics
Languages : en
Pages : 325
Book Description
East Asia has been a paragon of global development success. The dramatictransformation of the region over the past half century—with a succession ofcountries having progressed from low-income to middle-income and even to high-incomestatus—has been built on what has come to be known as the “East Asiandevelopment model.” A combination of policies that fostered outward-oriented, labor-intensivegrowth while strengthening basic human capital and providing sound economicgovernance has been instrumental in moving hundreds of millions of people out ofpoverty and into economic security.Yet East Asia’s economic resurgence remains incomplete. More than 90 percent of its peoplenow live in 10 middle-income countries, many of which can realistically aspire to high-incomestatus in the next generation or two. But these countries are still much less affluent andproductive than their high-income counterparts. Even as the region’s middle-income countriesattempt to move up to high-income status, they confront a rapidly changing global andregional economic environment. Slowing growth in global trade and shifts in its patterns,rapid technological change, and evolving country circumstances all present challenges tosustaining productivity growth, fostering inclusion, and enhancing state effectiveness.A Resurgent East Asia: Navigating a Changing World is about how policy makersacross developing East Asia will need to adapt their development model to effectivelyaddress these challenges in the coming decade and sustain the region’s remarkabledevelopment performance.“The world is changing. How do East Asia’s developing economies navigate this change?This is a commendable book on this topic—a must-read for policy makers, academia,and students who are interested in East Asia.”— Chatib Basri, Former Minister of Finance, Government of Indonesia“A Resurgent East Asia is a vital publication for the most successful region as it looks tothe future and the expectations of its citizens. This study helps to identify the new areasof risk and to suggest ways to ameliorate them. In so doing, it is an invaluable resourcefor governments. Based on first-rate analysis, it is a must-read for policy makers andeveryone interested in East Asia’s development prospects!”— Danny Leipziger, Managing Director, The Growth Dialogue, and Professorof International Business, George Washington University“This report delivers a careful and rigorous analysis of the strengths of East Asia’s ‘growthwith equity’ development strategy. While noting the model’s success in lifting millions outof poverty, the report also warns of the looming challenge of maintaining growth withinclusion, and it highlights the need for countries to improve their social protection systemsand ensure that opportunities are fair and available to all. A must-read for policy makersand development practitioners alike.”— Ana Revenga, Senior Fellow, Brookings Institution
Publisher: World Bank Publications
ISBN: 146481371X
Category : Business & Economics
Languages : en
Pages : 325
Book Description
East Asia has been a paragon of global development success. The dramatictransformation of the region over the past half century—with a succession ofcountries having progressed from low-income to middle-income and even to high-incomestatus—has been built on what has come to be known as the “East Asiandevelopment model.” A combination of policies that fostered outward-oriented, labor-intensivegrowth while strengthening basic human capital and providing sound economicgovernance has been instrumental in moving hundreds of millions of people out ofpoverty and into economic security.Yet East Asia’s economic resurgence remains incomplete. More than 90 percent of its peoplenow live in 10 middle-income countries, many of which can realistically aspire to high-incomestatus in the next generation or two. But these countries are still much less affluent andproductive than their high-income counterparts. Even as the region’s middle-income countriesattempt to move up to high-income status, they confront a rapidly changing global andregional economic environment. Slowing growth in global trade and shifts in its patterns,rapid technological change, and evolving country circumstances all present challenges tosustaining productivity growth, fostering inclusion, and enhancing state effectiveness.A Resurgent East Asia: Navigating a Changing World is about how policy makersacross developing East Asia will need to adapt their development model to effectivelyaddress these challenges in the coming decade and sustain the region’s remarkabledevelopment performance.“The world is changing. How do East Asia’s developing economies navigate this change?This is a commendable book on this topic—a must-read for policy makers, academia,and students who are interested in East Asia.”— Chatib Basri, Former Minister of Finance, Government of Indonesia“A Resurgent East Asia is a vital publication for the most successful region as it looks tothe future and the expectations of its citizens. This study helps to identify the new areasof risk and to suggest ways to ameliorate them. In so doing, it is an invaluable resourcefor governments. Based on first-rate analysis, it is a must-read for policy makers andeveryone interested in East Asia’s development prospects!”— Danny Leipziger, Managing Director, The Growth Dialogue, and Professorof International Business, George Washington University“This report delivers a careful and rigorous analysis of the strengths of East Asia’s ‘growthwith equity’ development strategy. While noting the model’s success in lifting millions outof poverty, the report also warns of the looming challenge of maintaining growth withinclusion, and it highlights the need for countries to improve their social protection systemsand ensure that opportunities are fair and available to all. A must-read for policy makersand development practitioners alike.”— Ana Revenga, Senior Fellow, Brookings Institution
Globalisation and Economic Security in East Asia
Author: Helen Sharmini Nesadurai
Publisher: Routledge
ISBN: 0415373506
Category : Business & Economics
Languages : en
Pages : 278
Book Description
What is the relationship between globalization and economic security? This is a keen new engagement with this key question, which uses detailed conceptual exploration and empirical analysis.
Publisher: Routledge
ISBN: 0415373506
Category : Business & Economics
Languages : en
Pages : 278
Book Description
What is the relationship between globalization and economic security? This is a keen new engagement with this key question, which uses detailed conceptual exploration and empirical analysis.