Die überraschend schnelle wirtschaftliche Erholung der asiatischen Krisenländer (Indonesien, Korea, Malaysia, die Philippinen und Thailand) ging mit makroökonomischen Anpassungsmaßnahmen und strukturellen Reformen im Finanz- und Unternehmenssektor einher. Gleichwohl unterscheiden sich die...

Malaysia was the only country severely affected by the 1997 Asian economic crisis that declined to adopt an IMF program. This article assesses this decision in terms of principle, and of the outcomes of the unorthodox policies Malaysia did implement. It concludes that Malaysia recovered at least...

Malaysia was the only country severely affected by the 1997 Asian economic crisis that declined to adopt an IMF program. This article assesses this decision in terms of principle, and of the outcomes of the unorthodox policies Malaysia did implement. It concludes that Malaysia recovered at least...

The paper identifies key features of International Monetary Fund (IMF)-supported programs following the 2008 global financial crisis. The statistical analysis of a large sample of countries that borrowed from the IMF during 1997-2013 indicates that, compared to the amount of financing provided...

My discussion of these issues begins with a brief survey of how the disasters unfolded in Thailand, Indonesia, and Korea and how the IMF and other international financial institutions responded. Then I evaluate (in part III) a central element of the IMF "conditionality" that attached to the...

As is the case with several other developing countries which grew rapidly in the 1980s and 1990s, Thailand was largely influenced by neoliberalism. This essay discusses neoliberalism, its influence on Thailand, and the role that neoliberalism played in the subsequent Asian financial crisis....

There is a perception that IMF programmes are not catalytic and instead associated with large capital outflows, higher refinancing costs for sovereigns and adverse movements in stock markets. This has led to concerns that an expectation of adverse effects of IMF programmes may deter countries...