PSCI 2602 Study Guide - 1997 Asian Financial Crisis, John Maynard Keynes, Economic Globalization

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14 Jul 2014
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January 17: theory is very simple in a general sense and does not be to be difficult to understand, theory is very important and we cannot function without it. You may not recognise it at first and could be inconsistent with other questions: theory helps stay consistent when answering questions (ex: use the liberal approach to use all questions) Thailand"s economic fall would not hit the rest of asia: eventually money began to flow out of asia due to investors pulling out. Around 116 billion dollars was pulled out by investors: contagion (name for the spread of economic crisis amongst asian countries) spread to. Thailand"s neighbors and countries like malaysia also felt the impact of the economic crisis. Overly rapid liberalization, reduced state capacity to regulate. Predatory liberalism, power of financial interests, systematic flaws. Increase transparency and good practice in developing countries.