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Miracle to Meltdown in Asia

By Norman Flynn

Miracle to Meltdown in Asia

By Norman Flynn

- Default Title
Description
The crisis in Asia has caused economic hardship and brought an end to the 'economic miracle' of fast economic growth in the region. This book asks whether the 1997/8 crisis marks a break with the past and signals an end to 'Asian' ways of running economies. During the period of rapid growth there were strong connections between governments and business in the region. 'Cronyism', or close connections between family, business, and government, was exposed when the stock markets and currencies dived. Pressure from overseas investors and international organizations has produced reforms in the region.

The book examines the social, economic, and political modes of governance in the region. It finds that there is a shifting balance between rule by the market, rule by connections, and rule by force. In the sphere of economic management, it shows that the period of the 'developmental state' in Japan and Korea has come to an end, but that it has not yet been replaced by a liberal market. Elsewhere the close connections between governments and business have been weakened but not yet broken. There are still special 'Asian' characteristics in economic management and in politics. The forces of 'Globalization' are strong, but they are confronted with political and economic cultures that are not rooted in liberal market ethics.
Product details
Edition:
1
Number of Pages:
184
Release Date:
2000-02-03
Publication Date:
1999-10-14
Publisher:
OUP Oxford
Languages:
Original: English
ISBN10:
0198295529
ISBN13:
9780198295525
GPSR Manufacturer Reference:
[email protected]
Weight:
446 g
Height:
161 cm
Width:
240 cm
Thickness:
15 cm
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