The Asian Financial Crisis and the Architecture of Global Finance

The Asian Financial Crisis and the Architecture of Global Finance by Gregory W. Noble, published by Cambridge University Press on September 11, 2000, is an illustrated edition comprising 310 pages. This book delves into the financial crises that swept across Asia in 1997-98, sparking intense discussions about both domestic economic vulnerabilities and the shortcomings of the international financial system. It presents a range of perspectives from political scientists, economists, and practitioners, exploring the interplay between local economic factors and global financial dynamics.
Readers will find a thorough examination of the political and economic causes and consequences of the crisis, addressing critical questions about the roles of government oversight, corporate governance, and the impact of international financial liberalization. The book also investigates why certain economies were more susceptible to crisis and evaluates the risks associated with various measures aimed at mitigating these issues. Topics such as globalization, political economy, and economic conditions are woven throughout the analysis, providing a comprehensive understanding of the complexities surrounding the Asian financial crisis.
Official synopsis Publisher
The financial crises across Asia in 1997-98 ignited fierce debate about domestic economic weaknesses and flaws in the international financial system. Some analysts blamed Asian governments for inadequate prudential supervision, widespread failures of corporate governance and even “crony capitalism.” Others assailed the inherent instability of global financial markets and what they considered to be hasty and ill-conceived liberalization taken at the behest of western-dominated international financial institutions. In this volume a distinguished group of political scientists, economists, and practitioners examines the political and economic causes and consequences of the crisis. To what extent were domestic economic factors to blame for the crisis? Why were some economies more prone to crisis than others? What are the costs and benefits of international financial liberalization? Who bears the risks and the costs of measures taken to reduce them? And what are the prospects for reform of the International Monetary Fund, international banking standards, and foreign exchange systems?
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