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Full Description
This book is a challenging volume by distinguished, leading scholars of East Asian political economy; it provides a distinct alternative to simplistic accounts of the Asian crisis which generally swing between an emphasis on convergence imposed by global economic forces, and the resurrection of the special patterns of East Asian economic governance. The authors argue that global forces and domestic structures are engendering new forms of economic and political regulation in East Asia. While these signal the death knell of the developmental state, this in itself does not presuppose a convergence towards a standard model of global capitalism. The arguments in this book will contribute significantly to the construction of a new research agenda for comparative political economy at the dawn of a new century.
Politics and Markets in the Wake of the Asian Crisis covers a range of East Asian countries including the People's Republic of China, South Korea, Indonesia, Thailand and Malaysia. All the studies are linked together by a common endeavour to explore the dynamic interaction between global economic forces and domestic structures. The book is at the cutting edge of the study of East Asian political economy, and is distinguished by the attention it pays to the regional and international context of the crisis. It also contains theoretically sophisticated analyses of organisations such as APEC and the IMF.
Contents
Part I The end of Asian capitalism? 1 Introduction: interpreting the crisis 2 Comment: crisis and the developmental state in East Asia 3 The financial crisis in Southeast Asia 4 State power and economic strength revisited: what's so special about the Asian crisis? Part II Crisis of the developmental state 5 The state, structural rigidity, and the end of Asian capitalism: a comparative study of Japan and South Korea 6 Fragility or continuity? Economic governance of East Asian capitalism 7 The dilemma of market liberalization: the financial crisis and the transformation of capitalism 8 A meltdown with 'Chinese characteristics'? 9 The Asian crisis and the perils of enterprise association: explaining the different outcomes in Singapore, Taiwan and Korea Part III Crisis of oligarchic capitalism 10 Surviving the meltdown: liberal reform and political oligarchy in Indonesia 11 Thailand's capitalism before and after the economic crisis 12 Economic nationalism and its discontents: Malaysian political economy after July 1997 13 The Philippines: the making of a neo-classical tragedy Part IV Regional and international context of the crisis 14 The international relations of the Asian economic crisis: a study in the politics of resentment 15 Moral (and other) hazards: the IMF and the systemic Asian crisis 16 Australia in the shadow of the Asian crisis Part V Conclusion: scenarios for East Asia 17 Authoritarian liberalism, governance and the emergence of the regulatory state in post-crisis East Asia
