ABSTRACT

This is the first systematic attempt to explore the causal relationship between financial market reform and financial crisis in an interdisciplinary and comparative perspective. It examines the political underpinnings of financial policy-change and provides an in-depth analysis of market liberalisation processes and their impact on the economic turmoil of 1997-98 in Korea and Thailand. The common crisis stemmed from divergent reform patterns and originated from dissimilar institutional deficiencies and political constraints.
The book will be essential reading for both policy-makers and academics concerned with national governance in an era of globalisation.

chapter 1|18 pages

Introduction

part |2 pages

Part I The political logic of comparative fi nancial policy

part |2 pages

Part II The political economy of fi nancial liberalisation

chapter 4|32 pages

Financial liberalisation in Korea

chapter 5|29 pages

Financial liberalisation in Thailand

chapter 6|15 pages

Liberalisation differences

Focused comparison

part |2 pages

Part III The political economy of fi nancial crisis

chapter 7|31 pages

Financial crisis in Korea and Thailand

chapter 8|12 pages

Findings, lessons and implications