Globalization, Politics, and Financial Turmoil

Asia's Banking Crisis

Globalization, Politics, and Financial Turmoil

In a world where capital moves freely across national borders, developing countries have increasingly been subjected to devastating financial crises caused by the sudden withdrawal of foreign capital. How do such crises develop? This book focuses on a novel causal path: that of miscommunication. By examining the determinants of Asia's financial crisis of 1997-98, it demonstrates why developing democracies are exceptionally vulnerable to breakdowns in communication between financial officials and the chief executive and outlines the disastrous consequences of such breakdowns.


"The book makes a significant contribution to the progress of international relations by addressing the concept of incomplete and asymmetic information in international finance." - Anastacia Xenias, Columbia University Political Science Quarterly