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Books > Reference & Interdisciplinary > Interdisciplinary studies > Area / regional studies
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Liberalization, Growth and the Asian Financial Crisis - Lessons for Developing and Transitional Economies in Asia (Hardcover)
Loot Price: R5,601
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Liberalization, Growth and the Asian Financial Crisis - Lessons for Developing and Transitional Economies in Asia (Hardcover)
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This timely book examines the effects of financial liberalization
in the more advanced economies of Southeast Asia. The book also
analyses the degree to which emerging and transitional economies in
East and South Asia can benefit from this example. The weakness of
the banking sector is examined in order to explain the reasons
behind the currency crisis and to prescribe policies to avoid a
similar episode in the future. Further, the book documents the
individual steps taken to liberalize the economies over a period of
about 20-30 years in each country. The analyses reveal that
liberalization led to high growth in economies undertaking such
reforms while unwillingness to take such reforms appear to have led
to poor growth and hence low social development. This finding
contradicts the common belief that liberalization led to the
financial crisis and then to growth collapse. An efficient and
liberalized financial sector is an essential precondition for
promoting and accelerating economic growth and welfare. Arguments
supporting this policy are based on the experience of Southeast
Asian economies, particularly the pioneers such as Malaysia,
Singapore, Indonesia and Thailand. This has led some less developed
countries in East and South Asia to initiate the process of
financial sector reforms and to realize the potential benefits of
such reforms. The authors analyse the reform process and the
lessons to be drawn from the experiences of these economies in
their quest for sustained development in East and South Asia.
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