The financial crisis that swept across East Asia during 1997 1998
was devastating not only in its economic impact but also in its
social and political effects. The explosive growth and
sociopolitical modernization that had powered the region for much
of the preceding decade suddenly were dramatically interrupted.
East Asia is economically outperforming the rest of the developing
world once again and has become a leading force in the global
economy. In the wake of the crisis, East Asia changed in important
ways. Crisis as Catalyst contains assessments of these changes-both
ephemeral and permanent- by a wide range of specialists in Asian
economics and politics.The crisis, as the contributors to this
volume show, catalyzed changes across political, corporate, and
social arenas both in the countries hit hard by the crisis and in
others throughout the region. The authors of Crisis as Catalyst
examine what has changed (as well as what has not changed) in East
Asia since the crisis, explain these variations, and reflect on the
long-term significance of these developments."
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