The state and market in the financial sectors of Korea, Malaysia and Thailand
In the aftermath of the Asian financial crisis of 1997, many expected the crisis affected countries to reform and restructure their financial systems. In particular, in light of the criticisms about corruption, cronyism, and the weaknesses of the state-business nexus in East Asia, and given the nature of the contemporary global financial system, it was argued that the crisis-stricken economies should become more market-driven. As such, there was an expectation, at least in some quarters, that...[Show more]
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