Overview

The world financial crisis of 1997-99 was the most important international economic event since the oil shocks of the 1970s and the associated debt crisis of the 1980s. What were its political causes and consequences? In particular, how did interest group coalitions and political institutions affect pre-crisis economic policies and post-crisis responses? This book focuses on how policymaking coalitions are formed and how political institutions mediate the pressure of rival coalitions. This approach is applied to 13 countries drawn from the main crisis-affected regions of the world economy East Asia, Southeast Asia, Latin America and Eastern Europe.

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9780585392912

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Reviews

This valuable set of studies should leave the reader with no doubts about the need to combine political and economic analysis in order to understand and help to prevent international financial crises.--Thomas D. Willett, Claremont College

This is an unusually engaging volume, produced by an impressive team of younger scholars with fresh and powerful arguments. It offers an innovative theoretical framework for understanding economic policy reform by combining economic structure, interests, and institutions. In this, it moves us beyond the familiar pattern of emphasizing one variable to the exclusion of others. The theoretical framework is used to great effect in explaining the most important international economic event of recent times, the international financial crisis of 1997-98. The volume offers a forceful combination of theory and empirical case-work from Asia, Latin America, and Eastern Europe and is an exciting reminder that high-caliber political science need not be analytically narrow or deal only with issues of minor consequence.--Andrew MacIntyre, University of Califonia, San Diego This valuable set of studies should leave the reader with no doubts about the need to combine political and economic analysis in order to understand and help to prevent international financial crises.--Thomas D. Willett, Claremont College

Author Information

Shale Horowitz is assistant professor of political science at the University of Wisconsin-Milwaukee. He has an MA in economics and a PhD in political science from UCLA. He has taught for a year at Central European University in Budapest, Hungary and has done research in many countries of Eastern Europe and the former Soviet Union. He is the author of book chapters and journal articles on economic policy-making and democratization in the post-communist countries. He is currently editor of Analysis of Current Events. His research focuses on the political economy of international trade and finance, the political economy of market transition and institutional change in the post-communist countries, and the politics of agricultural policy. Uk Heo is associate professor of political science at the University of Wisconsin-Milwaukee. He is a native Korean, and received his PhD from Texas A&M. He is the author of The Political Economy of Defense Spending around the World (1999), and the author or co-author of articles in American Politics Quarterly, Journal of Politics, Journal of Conflict Resolution, International Interactions, Journal of East Asian Affairs, Asian Perspective, Journal of Peace Research, West European Politics, and Korean Journal of International Studies. His research focuses on the political economy of financial crisis in East Asia, the defense-growth nexus, and conflict theories.

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