Ha-Joon Chang – Financial Liberalization & the Asian Crisis
The financial crisis that hit a number of ‘miracle’ economies of Asia in 1997 shocked the world. Financial Liberalization and the Asian Crisis rejects conventional explanations of the crisis as the outcome primarily of inefficient and corrupt economics systems in the countries concerned. It argues that the crisis was the result of premature and overly rapid financial liberalization in a world of increasing financial liquidity and volatility, and calls for a more cautious approach to financial liberalization, and a reform of the international financial architecture.
About the Author
CHRIS BAKER Freelance Researcher and Writer, Bangkok A. S. BHALLA David Thompson Senior Research Fellow, Sidney Sussex College, Cambridge RONALD DORE Centre for Economic Performance, London School of Economics DIETER ERNST East-West Center, University of Hawaii CHALMERS JOHNSON Japan Policy Research Institute, Cardiff CA K.S. JOMO Department of Economics, University of Malaya LANCE TAYLOR New School for Social Research, New York J.A. KREGEL University of Bologna JOHN A. MATHERS Macquarie Graduate School of Management, Sydney D. M. NACHANE University of Mumbai, India HONG-JAE PARK School of Oriental and African Studies, University of London PASUK PHONGPAICHIT Faculty of Economics, Chulalongkorn University, Bangkok JONATHAN PINCUS School of Oriental and African Studies, University of London RIZAL RAMLI Economic Advisory Group, Jakarta ROBERT WADE Brown University, USA CHUL GYUE YOO Korea Long-term Credit Bank Economic Research Institute, Korea YOSHITAKA KUROSAWA Nihon University, Japan
Financial Development Course
Financial development means some improvements in producing information about possible investments and allocating capital, monitoring firms and exerting corporate governance, trading, diversification, and management of risk, mobilization and pooling of savings, easing the exchange of goods and services.