The Political Economy of International Financial Crisis

The Political Economy of International Financial Crisis

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The world financial crisis of 1997-99 was the most important international economic event since the oil shocks of the 1970s and the associated debt crisis of the 1980s. What were its political causes and consequences? In particular, how did interest group coalitions and political institutions affect pre-crisis economic policies and post-crisis responses? This book focuses on how policymaking coalitions are formed and how political institutions mediate the pressure of rival coalitions. This approach is applied to 13 countries drawn from the main crisis-affected regions of the world economya€”East Asia, Southeast Asia, Latin America and Eastern Europe.This gave the government a high degree of autonomy from political and economic groups in society, enabling it to ride out crises with a high degree of impunity. ... The August crisis slowed the onward march of the oligarchs and strengthened the hand of the state apparatus ... However, Yeltsina#39;s su- perpresidential system and the tight control over the mass media prevented these antimarket socialanbsp;...

Title:The Political Economy of International Financial Crisis
Author: Shale Asher Horowitz, Uk Heo
Publisher:Rowman & Littlefield - 2001-01-01

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