Governments and Markets in East Asia: The Politics of Economic Crises (Routledge Malaysian Studies Series)

Governments and Markets in East Asia examines the relationship between economic performance, elite co-operation, and political regime stability in the context of the Asian crisis, and argues that economic crisis is not the cause of greater political harmony or discord, but rather that it serves as a catalyst that may encourage elites to cooperate or conflict depending upon the particular circumstances at the time of crisis. This book maintains that the political consequences of the Asian crisis varied according to the type of elite that existed in each stricken society. Including a comprehensive comparative study of five countries' experiences during the economic crisis: Indonesia, Thailand, Malaysia, South Korea and the Philippines, this book investigates the pre-crisis political context and elite configuration of these five countries, and considers what lessons can be drawn from their experiences. Constituting an impressive body of descriptive and theoretical material on the Asian crisis, this book looks towards the implications of economic crisis for elite behaviour and political stability. The Asian Economic Crisis Of 1997-8 Had A Dramatic Impact Not Only On The Region's Economies But Also On Its Politics. This Book Examines The Relation Between Economic Performance, Elite Cooperation, And Political Regime Stability In The Context Of The Asian Crisis. It Argues That Economic Crisis Is Not The Cause Of Greater Political Harmony Or Discord; Rather, It Serves As A Catalyst That May Encourage Elites To Cooperate Or Conflict Depending On The Particular Circumstances At The Time Of Crisis. It Maintains That The Political Consequences Of The Asian Crisis Varied According To The Type Of Elite That Existed In A Crisis-stricken Society.--book Jacket. Introduction : Economic Crises, Political Elites, And Democratic Stability -- The Outbreak Of The Asian Economic Crisis And Its Socioeconomic Consequences -- Political Circumstances Before The Asian Economic Crisis : Elite Configurations In The Five Countries -- Economic Crisis, Divided Elites, And Prospects For An Elite Settlement -- Economic Crisis, Fragmented Elites, And Prospects For Elite Convergence -- Economic Crisis, Consensual Elites And Prospects For Further Consensus. Jungug Choi. Includes Bibliographical References (p. [122]-131) And Index. Book Cover......Page 1 Title......Page 4 Copyright......Page 5 Contents......Page 8 List of Tables......Page 10 List of Figures......Page 11 Preface......Page 12 1 Introduction: economic crises, political elites, and democratic stability......Page 16 2 The outbreak of the Asian economic crisis and its socioeconomic consequences......Page 30 3 Political circumstances before the Asian economic crisis: elite configurations in the five countries......Page 43 4 Economic crisis, divided elites, and prospects for an elite settlement......Page 60 5 Economic crisis, fragmented elites, and prospects for elite convergence......Page 73 6 Economic crisis, consensual elites, and prospects for the further consensus......Page 91 7 Conclusions......Page 113 The Asian economic crisis of 1997 to 1998 had a dramatic impact on the region's economies and its politics. This book is a comparative study of five countries' experiences, making important contributions to key theoretical debates on the relationship between economic performance and practical stability.