The Neglected Impact of Non-Economic Factors on the Development of Financial Crises and Governmental Responses: The Mexican and Malaysian Cases of the 1990s

by Fahrettin Sumer

Overview

Foreword by Donald J. Puchala, Ph.D.

This book considers how a financial crisis develops and how a government responds to a financial crisis. In an attempt to shed light on these questions, it closely examines two cases: Mexico during the Mexican Peso Crisis of 1994 to 1995 and Malaysia during the Asian Financial Crisis of 1997 to 1998. Sümer argues that economic explanations of financial crises fail to fully answer these questions since they do not pay enough attention to non-economic factors stemming from a county's political, societal, institutional and external contexts. The examination of the Mexico and Malaysia cases illustrates this argument and shows that multiple non-economic factors—domestic political, societal, institutional, psychological, and ideological factors as well as external influences and pressures—can play roles as significant as economic factors. Interplay of these non-economic factors with economic ones brought these financial crises and shaped the Mexican and the Malaysian governments' policy behaviors.

Product Details

ISBN-13:	9780761856467
Publisher:	University Press of America
Publication date:	12/22/2011
Pages:	256
Product dimensions:	6.00(w) x 8.90(h) x 1.00(d)

About the Author

Fahrettin Sümer earned his M.A. degree in political science from Rutgers University and his Ph.D. in international studies from the University of South Carolina. During his doctoral training in the Department of Government and International Studies (currently the Department of Political Science), he earned a second M.A. degree in economics from the Moore School of Business at the same university. Since completion of his Ph.D. in 2003, he has published several articles and taught multiple international relations, comparative politics, and economics courses in South Carolina and Virginia. He has recently taught international studies and comparative politics courses at Virginia Commonwealth University. His research interests include the causes and implications of globalization, financial crises and governmental responses, international political economy, international conflict, and international integration.

Table of Contents

Preface
Foreword
Acronyms
Chapter I: About the Book
Chapter II: The Economic Explanations of Financial Crises and of Governmental Responses
Chapter III: The Shortcomings of the Economic Explanations: The Mexican Case
Chapter IV: The Impact of Non-Economic Factors: The Mexican Case
Chapter V: The Shortcomings of the Economic Explanations: The Malaysian Case
Chapter VI: The Impact of Non-Economic Factors: The Malaysian Case
Chapter VII: Financial Crises, Non-Economic Factors, and Governmental Responses
Appendix A: Mexico's Historical Background
Appendix B: Malaysia's Historical Background
Appendix C: Mexico's Economic Indicators in the Late 1980s and 1990s
Appendix D: Malaysia's Economic Indicators in Comparison with Some Asian Countries in the 1990s
Bibliography
Index

Editorial Reviews

This perceptive study by Fahrettin Sümer could not have been completed at a more propitious time. As the world in 2010 haltingly recovers from the worst economic crisis since the Great Depression, Dr. Sümer significantly extends our understanding of why such crises periodically humble global capitalism.

Donald J. Puchala

This perceptive study by Fahrettin Sümer could not have been completed at a more propitious time. As the world in 2010 haltingly recovers from the worst economic crisis since the Great Depression, Dr. Sümer significantly extends our understanding of why such crises periodically humble global capitalism.--Donald J. Puchala, Ph.D., Department of Political Science, University of South Carolina

From the Publisher