9788189487584 - After Crisis: Adjustment, Recovery and Fragility in East Asia (3 Ergebnisse)

Zustand: New. pp. viii + 316 Illus.

Zustand: New. Brand New. Soft Cover International Edition. Different ISBN and Cover Image. Priced lower than the standard editions which is usually intended to make them more affordable for students abroad. The core content of the book is generally the same as the standard edition. The country selling restrictions may be printed on the book but is no problem for the self-use. This Item maybe shipped from US or any other country as we have multiple locations worldwide.

The global financial crisis that exploded around September 2008 was just one more in a series of crises that have affected more than sixty countries in the era of financial liberalization Of course the latest crisis is particularly significant in a number of ways it originated in the core of capitalism in the United States; it has spread dramatically across the world even to countries that earlier seemed to be relatively secure; it calls into question many of the mainstream economic dogmas that have dominated economic policy-making for more than two decades Yet in some other ways the current crisis is not very different from those that have preceded it in the recent pastJuly 2007 marked the completion of a decade since the onset of financial crisis in several East and Southeast Asian countries The crisis of 1997 focused attention on the dangers associated with a world dominated by fluid finance It brought home the fact that financial liberalization can result in crises even in so-called ?miracle economies? Prior to the crisis the pace and pattern of growth in many countries in that region were challenging the dominance of the original capitalist powers over the global economy The 1997 crisis set back that process and even after a decade many of these countries have not been able to recover their pre-crisis dynamismIn hindsight it is clear that currency and financial crises have devastating effects on the real economy The ensuing liquidity crunch and wave of bankruptcies result in severe deflation with attendant consequences for employment and the standard of living The adoption post-crisis of conventional IMF stabilization strategies tends to worsen the situation governments continue to adopt very restrictive macroeconomic policies and restrain public expenditure even in crucial social sectors Finally asset-price deflation and devaluation pave the way for foreign capital inflows that finance a transfer of ownership of assets from domestic to foreign investors thereby enabling a conquest by international capital of important domestic assets and resourcesThis book delineates the alternative trajectories of post-crisis development in different economies the lessons they offer and the implications they have for alternative policies It is important to take stock of these processes because it is becoming evident that the international financial system has still not evolved effective ways of preventing such crises among emerging economies and of reducing their damaging effects This book therefore has a wider focus than the East Asian ?crisis economies? alone it tries to situate post-crisis developments in a broader analysis of the recent political economy of international capitalism in particular the role of mobile finance It also offers comparative perspectives on post-crisis restructuring in other developing countries that have experienced crisis; as well as on the experience of other Asian countries that were affected by but did not experience the financial crisis While the essays in this book were originally written in 2007 they remain extraordinarily relevant to the present times not least because they anticipate the processes that led to the global financial meltdown in 2008 Many of them predict the severe impact the current global crisis is having on both financial variables and the real economy in developing countries in particular 316 pp.