The Changing Politics of Finance in Korea and Thailand: From Deregulation to Debacle (Routledge Ripe Studies I Global Political Economy)

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. Book Cover......Page 1 Title......Page 4 Contents......Page 5 List of illustrations......Page 12 Series editors' preface......Page 14 Acknowledgements......Page 16 Acronyms and abbreviations......Page 18 Introduction......Page 20 The political logic of comparative financial policy......Page 38 Interests, institutions and financial policy......Page 40 Institutional variations in Korea and Thailand......Page 62 The political economy of financial liberalisation......Page 90 Financial liberalisation in Korea......Page 92 Financial liberalisation in Thailand......Page 124 Liberalisation differences: focused comparison......Page 153 The political economy of financial crisis......Page 168 Financial crisis in Korea and Thailand......Page 170 Findings, lessons and implications......Page 201 Notes......Page 213 Bibliography......Page 223 Index......Page 249 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 "The Changing Politics of Finance in Korea and Thailand represents a 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 book will be essential reading for both policy-makers and academics concerned with national economic governance in an era of globalisation."--Jacket. This book represents the first systematic attempt to explore the financial crisis in an interdisciplinary and comparative perspective and is essential reading for both policy-makers and academics interested in national governance This text is a systematic attempt to explore the casual relationship between financial market reform and financial crisis in an interdisciplinary and comparative perspective