Global Markets and Financial Crises in Asia: Towards a Theory for the 21st Century

by H. Khan

Overview

Khan presents a theory of financial crises in the age of globalization from an evolutionary perspective and suggests policies that may be necessary for averting or managing new financial crises. Starting with the Asian financial crises, he identifies new types of financial crises that result from a combination of liberalization, weak domestic institutions for economic governance and a chaotic global market system without global governance institutions. Suggested solutions involve building new institutions for global and domestic governance and domestic and international policy reforms.

Product Details

ISBN-13:	9780333760765
Publisher:	Palgrave Macmillan UK
Publication date:	05/21/2004
Edition description:	2004
Pages:	251
Product dimensions:	5.00(w) x 7.99(h) x 0.03(d)

About the Author

HAIDER A. KHAN has published six books and more than fifty articles in professional journals. He worked at the Asian Development Bank during the Asian Financial crisis and later moved to the newly founded Asian Development Bank Institute in Tokyo as a visiting scholar. In December 2002, he was one of the three international experts invited by the UN to deliver papers on the global poverty problem at the executive meeting of UN conference on trade and development in Geneva.

Table of Contents

The Mangled Miracle and the Alchemy of Finance The Beginning of the Crisis: Thailand The Crisis Spreads: Indonesia The End of the South Korean Miracle Finance in a Complex Capitalist Economy: Failures of Global Markets and Developmental States Corporate Governance: A New Theory and Reform of the Family-based Corporate Governance System in Asia Asian Banks: Can They Learn to Assess Risks Better? Towards a New Global Financial Architecture General Conclusions: From Crisis to a Global Political Economy of Freedom