Managing Economic Development in Asia : From Economic Miracle to Financial Crisis.

Cover -- Managing Economic Development in Asia -- Contents -- Preface -- Chapter 1 Political Development, Administrative Capacity, and the Challenge to the Developmental State Model Posed by the 1997-1998 Financial Crisis in East and Southeast Asia -- THE ASIAN FLU -- THE LOGIC OF THE DEVELOPMENTAL STATE -- THE MANY ROADS TO ASIAN DYNAMISM AND ASIAN DISLOCATIONS -- IMPLICATIONS FOR CONCEPTS OF POLITICAL DEVELOPMENT -- REFERENCES -- Chapter 2 Japan's Economic Crisis: The Role of Government -- INTRODUCTION -- THE JAPANESE MIRACLE -- THE ROLE OF THE GOVERNMENT IN ECONOMIC DEVELOPMENT -- IMPLICATIONS OF JAPAN'S ECONOMIC SUCCESS -- THE JAPANESE BUBBLE ECONOMY AND ITS AFTERMATH: THE END OF THE MIRACLE -- THE BUBBLE BURSTS -- THE POST-BUBBLE ECONOMY -- POLICY ANALYSIS AND POLICY PRESCRIPTIONS -- GOVERNMENT POLICY RESPONSES AND PROSPECTS FOR SUCCESS -- CONCLUSIONS -- REFERENCES -- Chapter 3 Managing the Singapore Economy -- OVERVIEW -- THE CENTRAL PROVIDENT FUND SCHEME -- The Impact on Work and Skill Level -- Impact on Funding for Government -- Impact on Macroeconomic Management -- Impact on Government Budget Policy -- INDUSTRIAL RELATIONS IN SINGAPORE -- THE LABOR MARKET POLICIES OF SINGAPORE -- THE THREE COMPETITIVENESS POLICIES -- THE CURRENT CURRENCY TURMOIL IN EAST ASIA -- CRISIS MANAGEMENT -- CONCLUSION -- NOTES -- REFERENCES -- Chapter 4 Financial Crisis and Policy Reform: The South Korean Experience -- A CHANGING ECONOMIC ENVIRONMENT -- A CRISIS IN SOUTH KOREA'S POLITICAL ECONOMY -- Structural Problems in the Economy -- Asian Contagion Effect -- THE IMF'S RESPONSE TO THE SOUTH KOREAN CRISIS -- MANAGING THE ECONOMY: INSTITUTIONAL REFORM -- The Period of Institutional Development for Export-Oriented Economic Growth -- The Search for Efficiency and Stabilization -- Political Democratization and Administrative Innovation.

The Retrenchment Stage: The IMF Era -- REFORM STRATEGIES UNDER THE NEW GOVERNMENT (PRESIDENT D. J. KIM) -- The Political Process of Reform -- CRISIS MANAGEMENT AND POLICY REFORM -- Chaebol Reform: Increasing Corporate Transparency and Accountability -- Financial Liberalization -- Restructuring the Banking System -- Incentives for Foreign Direct Investment -- The Labor Market Reform -- The Privatization Process -- THE OVERALL TRENDS -- CONCLUSION -- NOTE -- REFERENCES -- Chapter 5 Managing Economic Development in Taiwan -- INTRODUCTION -- ECONOMIC DEVELOPMENT RECORD -- FACTORS CONTRIBUTING TO ECONOMIC DEVELOPMENT -- General Background and Supporting Conditions -- Economic Development Policies and Activities -- RECENT CHANGES AND CHALLENGES -- Economic Transformation Policy -- Political Reforms and Issues -- The Impact of the Asian Financial Crisis -- Economic Performance in the 1990s -- CONCLUSION: LESSONS AND CHALLENGES -- NOTES -- REFERENCES -- Chapter 6 From Adversity to Opportunity? Hong Kong's Response to the Asian Economic Crisis -- INTRODUCTION -- ECONOMIC DEVELOPMENT POLICIES AND ACHIEVEMENTS -- IMPACT OF THE ASIAN FINANCIAL CRISIS ON HONG KONG -- RESPONSES AND POLICIES OF THE HONG KONG GOVERNMENT -- LEADERSHIP AND THE MANAGEMENT OF CRISIS -- CONCLUDING OBSERVATIONS -- REFERENCES -- Chapter 7 China Amid the Asian Economic Crisis: Lessons and Experiences -- INTRODUCTION -- THE CAUSES OF THE ASIAN ECONOMIC CRISIS -- Export-Oriented Development Strategies -- Financial System Loopholes -- Globalization of International Financial Asset Flows and Lack of International Financial Management Institutions -- CHINA BEFORE THE ASIAN FINANCIAL CRISIS -- CHINA DURING THE ASIAN FINANCIAL CRISIS -- CHINA AFTER THE ASIAN FINANCIAL CRISIS -- CONCLUSIONS AND FUTURE PROSPECTS -- NOTES -- REFERENCES.

Chapter 8 Indonesia's Economic Crisis and Dilemma: Contradictions of Two Kinds of Freedom -- INTRODUCTION -- RELATIONSHIPS BETWEEN POLITICAL FREEDOM AND ECONOMIC FREEDOM -- ECONOMIC FREEDOM IN INDONESIA -- POLITICAL FREEDOM IN INDONESIA -- CONCLUSION -- NOTES -- REFERENCES -- Chapter 9 Managing Economic Development in the Presence of Ethnic Diversity: The Malaysian Experience -- INTRODUCTION -- PATTERNS OF DEVELOPMENT IN MALAYSIA -- POLITICAL DETERMINANTS OF GROWTH -- Maintaining Political Stability -- Minimizing Polarization -- Governing the Market and Polity -- IMPLICATIONS AND CONCLUDING REMARKS -- NOTES -- REFERENCES -- Chapter 10 Financial Reform, Capital Flows, and Macroeconomic Management: The Case of Thailand -- INTRODUCTION -- PHASES OF FINANCIAL REFORM -- Background, Objectives, and Initial Reform Measures -- Financial System Development Plan, 1990-1998 -- CAPITAL INFLOWS, MACROECONOMIC IMPACT, AND FINANCIAL CRISIS -- Nature and Types of Capital Inflows -- Macroeconomic Impact and Policy Responses -- CAUSES OF THE FINANCIAL CRISIS AND REFORM SEQUENCING -- Issue of Reform Sequencing -- POLICY MISTAKES AND MISMANAGEMENT -- Maintaining and Defending the Pegging Exchange Rate System -- Wrong Policy Mix -- Price Stability, Flexible Wage, and Competitiveness -- Upgrading and Restructuring of the Economy -- Management of Capital Flows -- POLICY RESPONSES AND IMPACT -- CONCLUDING REMARKS -- REFERENCES -- Chapter 11 The East Asian Crisis and Recovery: A Reappraisal -- UPDATE ON THE EAST ASIAN CRISIS -- Country Specifics-Thailand -- Country Specifics-Indonesia -- Country Specifics-Malaysia -- Country Specifics-South Korea -- Country Specifics-Philippines -- Country Specifics-China -- Country Specifics-Hong Kong -- Country Specifics-Taiwan -- Country Specifics-Vietnam -- Country Specifics-Singapore -- Country Characteristics-Summary.

CHANGING PERSPECTIVES ON THE CAUSES OF THE CRISIS -- THE ROLE OF THE IMF AND THE WORLD BANK -- CHALLENGES OF THE EAST ASIAN EXPERIENCE -- NOTES -- REFERENCES -- Index -- About the Contributors.

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