The Woodrow Wilson Center Press
The Quest for Sustained Growth: Southeast Asian and Southeast European Cases
In 1997, the "Asian Economic Miracle," thirty years of rapid growth and low inflation, ended abruptly with runs on Southeast Asian currencies and a mass flight of capital, precipitating deep economic recessions. Meanwhile, countries of Southeast Europe had been struggling to reconstruct market economies out of the shreds left by socialies economies. Both regions had been urged by international organizations to adopt a package of policies, often called the "Washington COnsensus," of deregulation, privatization, trade liberalization, and free-flowing captial.
Did the crisis in Southeast Asia, and related crises in Russia and Latin America, call into question the Washington Consensus?
What People are Saying
1. Introduction 2. The Crisis and Transition in Southeast Europe and Southeast Asia 3. The Rise and Fall of Emerging Markets 4. The IMF and Economic Sovereignty: Insitutional Responses 5. The Creation of Sound Banking Systems 6. Foreign Investment as Solution and Problem 7. International Responses to Economic Crises 8. Is Financial Globalization Working? 9. Subsequent Events and Future Challenges Appendix A: Tables Appendix B: Agenda for the Conference "Crisis and Transition in Southeast Asia, SOutheast Europe, and the Global Economy," September 17-18, 1998.