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Erschienen in:
2007 | OriginalPaper | Buchkapitel
The Developmental Logic of Financial Liberalization in Taiwan
verfasst von : Elizabeth Thurbon
Erschienen in: Institutions and Market Economies
Verlag: Palgrave Macmillan UK
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The Asian crisis of 1997–98 for many pundits appeared to ‘discredit’ the region’s developmental states, projecting them as a symbol of the incompatibility of financial openness with efforts to govern the market. In the standard accounts, something has got to give, and invariably it is the developmental state that must lose out (Pang, 1998; Moon and Rhyu, 2000; Jayasuriya, 2001; Pirie, 2005). However, this widely held view misleads, not only because it sets up a false dichotomy between governing the market and financial openness, but also because it overstates the uniformity of developmental states in their liberalizing objectives and approach.