The Political Economy Of Distress In East Asian Financial Institutions
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The Political Economy Of Distress In East Asian Financial Institutions
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Author : Paola Bongini
language : en
Publisher: World Bank Publications
Release Date : 2000
The Political Economy Of Distress In East Asian Financial Institutions written by Paola Bongini and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Balance Sheet categories.
"In the East Asian crisis, "connections" - with industrial groups or influential families - increased the probability of distress for financial institutions. Connections also made closure more, not less, likely, suggesting that the closure processes themselves were transparent. But larger institutions, although more likely to be distressed, were less likely to be closed, suggesting a "too big to fail" policy"--Cover.
The Political Economy Of Distress In East Asian Financial Institutions
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Author : Stijn Claessens
language : en
Publisher:
Release Date : 2005
The Political Economy Of Distress In East Asian Financial Institutions written by Stijn Claessens and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
The 1997-1999 East Asian crisis is an interesting case for studying the determinants of distress and closure of financial institutions. Of a sample of 283 financial institutions from Indonesia, Korea, Malaysia, the Philippines, and Thailand, 120 experienced distress, and by July 1999, 38 were closed. We find that traditional, CAMEL-type financial data for 1996 help predict distress and closure. quot;Connectionsquot; - with industrial groups or influential families - increased the likelihood of distress, however, suggesting that supervisors had granted selective prior forbearance from prudential regulations. Since closure was more, not less, likely with connections, the closure processes themselves appear transparent. We also find evidence of quot;too big to failquot; policies.
The Political Economy Of The East Asian Crisis And Its Aftermath
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Author : Arvid John Lukauskas
language : en
Publisher: Edward Elgar Publishing
Release Date : 2001
The Political Economy Of The East Asian Crisis And Its Aftermath written by Arvid John Lukauskas and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Economists from the US, the World Bank, the International Monetary Fund, and a few other countries--none Asian--assess the causes and consequences of the East Asian crisis of 1997-98, focusing especially on the interplay of economic and political forces. In eight papers and a summary of a roundtable discussion, primarily from a March 1999 conference at Columbia University, they consider such aspects as the anatomy of the emerging market disease, the politics of moral hazard, the US role in the long Asian crisis of 1990-2000, and from higher risk to risk aversion and the danger of protectionism. Annotation copyrighted by Book News Inc., Portland, OR
The Asian Infrastructure Investment Bank
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Author : M. Wan
language : en
Publisher: Springer
Release Date : 2016-04-29
The Asian Infrastructure Investment Bank written by M. Wan and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-29 with Political Science categories.
This book assesses the strategic significance of the Asian Infrastructure Investment Bank (AIIB) by examining the logic of international power and order, historic trends in East Asian international relations, the AIIB's design in comparison to 'rival' financial institutions such as the World Bank and the Asian Development Bank, recent tendencies in Chinese foreign policy, and the Chinese system of political economy. It focuses on how China 'constructs' international arrangements at a critical juncture in history compared to other great powers, especially the United States and Japan. Viewed in isolation, the AIIB does not represent a radical departure from the existing international order; it is a hybrid institution built on China's integration into the West-dominated international structure and conditioned by the global financial market. But the AIIB does draw in part from a different institutional lineage, a different historical root, and a different national system of political economy. In this context, China's greater success will constitute a partial change to the existing international order, whatever the Chinese intention.
Us Asia Economic Relations
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Author : Justin Robertson
language : en
Publisher: Routledge
Release Date : 2008-09-02
Us Asia Economic Relations written by Justin Robertson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-02 with Business & Economics categories.
In a world of continuing financial volatility, this book critically evaluates the oft-cited claim that US firms and the US government attempt to open emerging markets in economic distress and acquire valuable industrial and financial assets. Focusing particularly on Korea and Thailand, the author examines the degree of market opening, the roles US actors played in this process and the level of foreign firm activity in the years after the Asian crisis. Justin Robertson finds surprisingly little coherence between the strategies of US firms and US policy-makers. At the same time, the book downplays European investments, concluding instead that the decade since the Asian crisis has reaffirmed strengths of US capital, particularly in some of the most important sectors of the global economy. Investment banking, private equity and subcontracting are significant new features of US-Asia economic relations. Providing a sophisticated understanding of US interests in Asia, especially in terms of the politics of finance capital, and including a wealth of empirical data on the US and Asian political economies, this book will be invaluable for students and scholars of international political economy and Asian economics and politics.
The Political Economy Of The Asian Financial Crisis
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Author : Stephan Haggard
language : en
Publisher: Columbia University Press
Release Date : 2010-10-01
The Political Economy Of The Asian Financial Crisis written by Stephan Haggard and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-01 with Political Science categories.
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, it is necessary to understand exactly what happened and why from both a political and an economic perspective. In this study, renowned political scientist Stephan Haggard examines the political aspects of the crisis in the countries most affected—Korea, Thailand, Malaysia, and Indonesia. Haggard focuses on the political economy of the crisis, emphasizing the longer-run problems of moral hazard and corruption, as well as the politics of crisis management and the political fallout that ensued. He looks at the degree to which each government has rewoven the social safety net and discusses corporate and financial restructuring and greater transparency in business-government relations. Professor Haggard provides a counterpoint to the analysis by examining why Singapore, Taiwan, and the Philippines escaped financial calamity.
The Changing Politics Of Finance In Korea And Thailand
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Author : Xiaoke Zhang
language : en
Publisher: Routledge
Release Date : 2003-08-29
The Changing Politics Of Finance In Korea And Thailand written by Xiaoke Zhang and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-08-29 with Political Science categories.
This is the first systematic attempt to explore the causal relationship between financial market reform and financial crisis in an interdisciplinary and comparative perspective. It examines the political underpinnings of financial policy-change and provides an in-depth analysis of market liberalisation processes and their impact on the economic turmoil of 1997-98 in Korea and Thailand. The common crisis stemmed from divergent reform patterns and originated from dissimilar institutional deficiencies and political constraints. The book will be essential reading for both policy-makers and academics concerned with national governance in an era of globalisation.
Two Crises Different Outcomes
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Author : T. J. Pempel
language : en
Publisher: Cornell University Press
Release Date : 2015-05-06
Two Crises Different Outcomes written by T. J. Pempel and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-06 with Political Science categories.
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.
The Politics Of The Asian Economic Crisis
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Author : T. J. Pempel
language : en
Publisher: Cornell University Press
Release Date : 1999
The Politics Of The Asian Economic Crisis written by T. J. Pempel and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
The authors analyze the reasons why the crisis affected the nations of Asia in radically different ways. They also consider whether the crisis indicates a radical change in Asia's economic future.
The Enduring Legacies Of The Global Financial Crisis In East Asia
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Author : Iain Pirie
language : en
Publisher: Taylor & Francis
Release Date : 2024-07-25
The Enduring Legacies Of The Global Financial Crisis In East Asia written by Iain Pirie and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-25 with Political Science categories.
The Enduring Legacies of the Global Financial Crisis in East Asia challenges the assumption that the global financial crisis had a limited structural impact on East Asian political economies, arguing that the crisis has led to a significant, if uneven, reorganization of major national political economies within the region where, in response to the crisis, states have promoted domestic processes of financialization as a means of stimulating their economies. The major East Asian economies, bar Japan, enjoyed strong recoveries from the 2008–2009 financial crisis. However, this success has been achieved by promoting domestic processes of financialization to maintain demand – more precisely, the rapid build-up of household debt (Malaysia, Korea, Taiwan, China) and asset price bubbles (China, Japan). In short, East Asia has employed precisely those practices that the global financial crisis itself illustrated the unsustainability of, to maintain growth. Using a post-Keynesian framework, the book argues that the dependency on these forms of financialization to support demand is a direct product of a failure to address the issue of inequality. High levels of inequality slow the growth of non-debt-based domestic consumption. An alternative approach to supporting demand in the post-crisis period would need to focus on progressive redistribution through strengthening of labour rights and systems of social support, which would directly challenge the interests of economic and political elites. The structural vulnerabilities that accelerated financialization is creating in East Asia demonstrate the necessity of a post-Keynesian growth strategy based on redistribution and curbing financialization. The book also argues that in certain Northeast Asian economies the crisis has led to a consolidation of systems of industrial activism/state control, which could have occurred without accelerated financialization, and vice versa. This book will be of great interest to students and scholars of political economy and Asian studies.