Beyond the East Asian Crisis: The Path to Innovation and Economic Growth

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Thirteen chapters presented by Chowdury (economics, U. of West Sydney, Australia) and Islam (economics, Griffith U., Australia) consist mostly of single country studies examining the reasons for the growth and sudden economic crises of the Asian economies in the late 1990s. Although specific reasons for the crises vary from country to country, two overarching themes emerge from the material. The authors argue that while the authoritarian regimes of Asia were capable of delivering rapid growth and maintaining political legitimacy while foreign capital inflow continued at a steady pace, the continuance of that inflow delayed democratization and resulted in static regimes unable to develop innovative methods of dealing with social problems. Furthermore, the crises called into question policies promoted by the U.S. Treasury, the IMF, and the World Bank. Annotation c. Book News, Inc., Portland, OR (
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Product Details

  • ISBN-13: 9781840642735
  • Publisher: Elgar, Edward Publishing, Inc.
  • Publication date: 1/1/2002
  • Pages: 392
  • Product dimensions: 6.30 (w) x 9.30 (h) x 1.20 (d)

Table of Contents

List of figures and boxes
List of tables
List of contributors
1 Introduction: responding to the challenges of the post-crisis era 1
2 Beyond the crisis: development strategies in Asia 30
3 Revitalizing the Japanese economy 50
4 Paradigm shift in Korean economic policy in the wake of the 1997 financial crisis 75
5 Beyond Thailand's crisis: impact and implications 101
6 Indonesia: beyond shallow, export-led industrialization 132
7 Malaysia's recovery from the burst bubble 166
8 The East Asian crisis: the Philippines experience 194
9 Singapore in the aftermath of the Asian crisis 231
10 Weathering the Asian financial crisis: the experience of Taiwan 256
11 Why financial crisis may come to China but not Taiwan 279
12 Marketization, democracy and economic growth in China 299
13 The IMF and the new international financial architecture 324
App Macro indicators of the five victims of the East Asian crisis 351
Index 359
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