Among the East Asian crisis economies, Indonesia has been by far the worst affected. Its economic contraction has been about twice as large as the next most affected economy, Thailand. It is the only crisis economy to experience serious inflation. Its political turmoil and social tension have...

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Economists broadly agree on many key economic policy issues, but economics as a discipline has provided much less guidance on why and how economic policy reform occurs and how to develop institutional mechanisms that enable governments to adopt “good” economic policy. Political scientists...

A decade and a half since the Philippines embarked on a major program of decentralization, the authors of this book have undertaken a detailed examination of all aspects of the nation’s regional dynamics and policies. Their analysis extends to comparable experiences in East Asia, particularly...

Financial safety nets in Asia have come a long way since the Asian Financial Crisis (AFC) of 1997–98. Not wanting to rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiative (CMI) was created in 2000. When the CMI also proved inadequate following the...

Financial safety nets in Asia have come a long way since the Asian Financial Crisis (AFC) of 1997–98. Not wanting to rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiative (CMI) was created in 2000. When the CMI also proved inadequate following the...