Liberalization and growth in Asia : 21-st century challenges / Mohamed Ariff, Ahmed M. Khalid.

Includes bibliographical references (p. 356-375) and index.

Liberalization : Asia's new-found development strategy
Asian financial markets : from crisis to recoveries
China : a command economy responding well to market signals for a long while now
India : more than a decade of liberalization, yet not fast enough
Indonesia ; liberalization amidst exchange rate and now growing political stability
South Korea : a case of capital account liberalization, growth collapse and reforms to recovery
Malaysia : liberalization with exchange and capital controls
Pakistan : liberalization with internal and external shocks
Singapore : continual reforms to maintain financial centre status
Thailand : open external sector, exposed financial sector
Lessons for development through liberalization

"This book reveals significant lessons on how economic prosperity was secured for people over three decades in eight Asian countries. It focuses on the careful way in which these nations designed and implemented pro-growth, liberal economic and financial policies. A new phenomenon - namely financial fragility - in the more liberalized fast growth Asian economies is also examined." "The authors explore why only some of the early reformers among China, India, Indonesia, Korea, Malaysia, Pakistan, Singapore, and Thailand succumbed to a serious financial crisis in 1997 whilst others did not. They also analyse the impact of policies implemented by the crisis-hit economies, either under the IMF restructuring programs or independent pursuit of capital and currency controls. The book goes on to identify the weaknesses of the banking sector in order to explain the reasons behind the financial crisis. The book concludes with lessons for other emerging economies undertaking economic and financial development through liberalization. These examples reveal policies that could be prescribed in order to prevent future problems." "Focusing on post-crisis reforms and their policy impacts, and on post-crisis evaluation of restructuring implemented in the financial sector, this book will appeal to academics and those with specific interests in Asian studies and/or banking and finance. Policymakers - in particular those at central banks and treasuries, along with professionals in financial institutions and multinational firms, will find the book to be a fascinating read."--Jacket