Financial Liberalization and the Asian Crisis

Front Matter....Pages i-xi
Introduction....Pages 1-7
Economic Crisis in East Asia: The Clash of Capitalisms....Pages 8-20
Capital Market Crises: Liberalization, Fixed Exchange Rates and Market-Driven Destabilization....Pages 21-39
Derivatives and Global Capital Flows: Applications to Asia....Pages 40-62
From ‘Miracle’ to ‘Cronyism’: Explaining the Great Asian Slump....Pages 63-81
Thailand’s Crisis: Neo-Liberal Agenda and Local Reaction....Pages 82-101
Malaysian Débâcle: Whose Fault?....Pages 102-123
Indonesia: From Showcase to Basket Case....Pages 124-139
Interpreting the Korean Crisis: Financial Liberalization, Industrial Policy and Corporate Governance....Pages 140-155
Fashioning a New Korean Model out of the Crisis: The Rebuilding of Institutional Capabilities....Pages 156-174
Japan’s Crisis: Evolution and Implications....Pages 175-189
Responses to the Crisis: Constraints to Rapid Trade Adjustment in East Asia’s Electronics Industry....Pages 190-214
Asian Crisis and the Future of the Japanese Model....Pages 215-236
The Economic Impact of the Asian Crisis on India and China....Pages 237-253
Three-and-a-half Cycles of ‘Mania, Panic, and [Asymmetric] Crash’: East Asia and Latin America Compared....Pages 254-286
Back Matter....Pages 287-294