Other Report

PrintPrint EmailEmail ShareShare CiteCite
Style:MLAAPAChicagoClose

loading...

Economic Crisis and Corporate Reform in East Asia (A CFR Paper)

Author: Meredith Woo-Cummings

Economic Crisis and Corporate Reform in East Asia (A CFR Paper) - economic-crisis-and-corporate-reform-in-east-asia-a-cfr-paper

Publisher Council on Foreign Relations Press

Release Date June 5, 2000

Share

Overview

The Asian financial crisis of 1997-98 involved, among other
things, a failure of regulation. Some believe this failure is endemic
to global capitalism, and others believe it was profoundly local
and idiosyncratic, emanating from regulatory flaws in the affected
countries, stretching an arc from Thailand and Indonesia to Korea
and Japan. There is also a debate about the nature of the regulation
that failed. Some argue that the crisis emanated from a surfeit
of nettlesome regulations and endemic industrial policy;
others claim it happened for want of effective regulations and (even)
industrial policy. Across the hypotenuse of these disagreements,
however, stretches a universal recognition that regulatory infrastructure
and institutions do matter and that they must play a major role
in the way we think about economic development. After the
miracle years in East Asia, "good governance" has become the Spirit
of the Age.

More on This Topic

Op-Ed

Rethinking Iran

Authors: Eric Edelman, Dennis Ross, and Ray Takeyh
The Washington Post

With the extension on the nuclear deal with Iran, Western powers would do well to reconfigure their assumptions on how to pressure Iran into...

Article

How Iran Can Game the Deal

Author: Ray Takeyh
Politico Magazine

The numerous concessions to Iran in the framework agreement means that the Islamic Republic should be able to manufacture bombs on short...

Op-Ed

The Iran Time Bomb

Authors: Ray Takeyh, Michael V. Hayden, and Olli Heinonen
Washington Post

As negotiations between Iran and the great powers press forward, Secretary of State John F. Kerry seems to have settled on this defense of...