The crisis in Asia has caused economic hardship and brought an end to the 'economic miracle' of fast economic growth in the region. This book asks whether the 1997/8 crisis marks a break with the past and signals an end to 'Asian' ways of running economies. The book examines the social, economic, and political modes of governance in the region and finds a shifting balance between rule by the market, rule by connections, and rule by force.
Introduction 1. Lessons from the Asian Crisis What sort of 'miracles'? How did the 'meltdown' happen? Why did it happen? Responses Lessons 2. Expressive Relationships and Networkswith Chan Ho-mun Challenged assumptions Expressive and instrumental ties Mixed ties and networks Implications 3. The Economy and the State Intervention and the market The 'developmental state' 'Good governance' The development of the debate Networks and economic development The end of rule by connections? 4. The Final Victory of Globalization? Homogenization The supranational institutions The global market Globalization as power struggle What is left for the state? Global governance for a global economy? 5. Democracy, the Economy, and the Crisis Democracy and the crisis Democracy and the economy Asian democracy? 6. The Family, the Company, and the State Rights and obligations Politics and culture The crisis 7. Managing the Network State Differences among states Trends before the crisis The crisis and public management Convergence Conclusions Economy Politics Labour and welfare Managing the state After rule by force and rule by connections? Stability Global market rules?
Norman Flynnis currently Research Fellow at the London School l“
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