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 | | The Asian Financial Crisis and the Architecture of Global Finance (Cambridge Asia-Pacific Studies) by Gregory W. Noble (Editor), John Ravenhill (Editor) ISBN-10: 0521790913 ISBN-10: 0-521-79091-3 ISBN-13: 9780521790918 ISBN-13: 978-0-521-79091-8 Hardcover 2000-09 Cambridge University Press Find Lowest Price |
Editorials | ||
Product Description The financial crises across Asia in 1997-98 ignited fierce debate about domestic economic weaknesses and flaws in the international financial system. Some analysts blamed Asian governments for inadequate prudential supervision, widespread failures of corporate governance and even "crony capitalism." Others assailed the inherent instability of global financial markets and what they considered to be hasty and ill-conceived liberalization taken at the behest of western-dominated international financial institutions. In this volume a distinguished group of political scientists, economists, and practitioners examines the political and economic causes and consequences of the crisis. To what extent were domestic economic factors to blame for the crisis? Why were some economies more prone to crisis than others? What are the costs and benefits of international financial liberalization? Who bears the risks and the costs of measures taken to reduce them? And what are the prospects for reform of the International Monetary Fund, international banking standards, and foreign exchange systems? | ||
Reviews | ||
Disappointing Ravenhill and Noble have edited a disappointing collection. The topic is of great importance, but the collection is shallow. This might be because it was brought together rather quickly, when the discussion of the Asian Crisis was still somewhat recent. However, the contributors do not come to grips with the long term consequences of the crisis and nor do they offer a very deep analysis of the genesis of the crisis. There is little deep discussion of over-production, global production trends, inequality or poverty. I expected more from the editors and authors. | ||