Liberalization and Growth in Asia: 21st Century Challenges - Softcover

Ariff, Mohamed; Khalid, Ahmed M.

Softcover

ISBN 10: 1843767910 ISBN 13: 9781843767916

Publisher: Edward Elgar Publishing, 2005

Synopsis

This book reveals significant lessons on how economic prosperity was secured for people over three decades in eight Asian countries. It focuses on the careful way in which these nations designed and implemented pro-growth, liberal economic and financial policies. A new phenomenon - namely financial fragility - in the more liberalized fast growth Asian economies is also examined. The authors explore why only some of the early reformers among China, India, Indonesia, Korea, Malaysia, Pakistan, Singapore, and Thailand succumbed to a serious financial crisis in 1997 while others did not. They also analyze the impact of policies implemented by the crisis-hit economies, either under the IMF restructuring programs or independent pursuit of capital and currency controls. The book goes on to identify the weaknesses of the banking sector in order to explain the reasons behind the financial crisis. The book concludes with lessons for other emerging economies undertaking economic and financial development through liberalization. These examples reveal policies that could be prescribed in order to prevent future problems. Focusing on post-crisis reforms and their policy impacts, and on post-crisis evaluation of restructuring implemented in the financial sector, this book will appeal to academics and those with specific interests in Asian studies and/or banking and finance. Policymakers - in particular those at central banks and treasuries - along with professionals in financial institutions and multinational firms, will find the book to be a fascinating read.

About this title

About the Author:

Mohamed Ariff, Professor of Finance and Head of Finance, Monash University, Australia and Ahmed M. Khalid, Associate Professor of Economics and Finance, Bond University, Australia and Visiting Faculty, Lahore University of Management Sciences (LUMS), Pakistan

Review:

`The book is well written and documented. It has assembled a large quantity of valuable data and provides objective and cogent analyses. . . the book is a significant contribution to Asian economic studies.' -- Chu-yuan Cheng, Comparative Economic Studies `. . . a potentially valuable resource for a geographic approach to the study of economic growth and development in Asia.' -- S.J. Gabriel, Choice

About this edition

• Publisher: Edward Elgar Publishing
• Publication date: 2005
• ISBN 10: 1843767910
• ISBN 13: 9781843767916
• Binding: Paperback
• Number of pages: 424