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    政大機構典藏 > 學術期刊 > Issues & Studies > 期刊論文 >  Item 140.119/102566
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/102566

    Title: Differential Impact of the Foreign Exchange Crisis on Taiwan, Japan, and South Korea: A Politico-Institutional Explanation
    Authors: Kuo, Cheng-Tian;Tsai, Tzeng-Jia
    Keywords: Taiwan;Japan;South Korea;foreign exchange crisis;institutionalism
    Date: 1998-11
    Issue Date: 2016-10-04 17:39:01 (UTC+8)
    Abstract: Why did the East Asian economies make remarkable achievements before the 1990s, but suffer greatly since the foreign exchange crisis of 1997? Current theories of both liberal economics and the developmental state cannot provide a satisfactory answer, nor can they offer effective policy suggestions to solve the surrent crisis. This article suggests that a politico-institutional approach provides a better explanation to the above question and offers more effective prescriptions than current theories. The authors argue that politico-institutional relationships among the state, the ruling party, local factions, and conglomerates in these countries contributed significantly to the massive mobilization of resources but also generated long-term inefficiencies in resource utilizatio, which ultimately led to the economic breakdown during the foreign exchange crisis. Thus, solutions to the East Asian recession come not from cosmetic and inflationary Keynesian policies, which, in fact, might be counterproductive, but rather from the readjustment of the politico-institutional relationships among the four institutional actors.
    Relation: Issues & Studies,34(11&12),144-180
    Data Type: article
    Appears in Collections:[Issues & Studies] 期刊論文

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