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Political Economy of IMF Policy Implementation: The Cases of 1997-1998 Economic Crises of Korea and Indonesia. : IMF 정책 이행의 정치경제: 1997-1998 한국과 인도네시아의 경제위기 사례
DC Field | Value | Language |
---|---|---|
dc.contributor.advisor | 윤영관 | - |
dc.contributor.author | 프라윈두 프리마 수크마사리 | - |
dc.date.accessioned | 2017-07-19T12:04:31Z | - |
dc.date.available | 2017-07-19T12:04:31Z | - |
dc.date.issued | 2014-08 | - |
dc.identifier.other | 000000021987 | - |
dc.identifier.uri | https://hdl.handle.net/10371/134083 | - |
dc.description | 학위논문 (석사)-- 서울대학교 대학원 : 정치외교학부, 2014. 8. 윤영관. | - |
dc.description.abstract | The 1997 Asian financial crisis that hit Southeast and East Asian countries began in Thailand with the devaluation of the Thai Bath, which spread a sudden panic to neighboring countries, included South Korea and Indonesia. Thus, it caused a loss of market confidence and led to a massive capital outflow from Korea and Indonesia. Governments in both countries responded by requesting for International Monetary Fund (IMF) assistance which was followed by several economic recovery prescriptions focusing on macroeconomic, monetary and fiscal, banking system and management improvement plans, and corporate restructuring initiatives. The IMF plan was created to restore market confidence and return the countries to a state of economic development. However, the recoveries in the two countries were very different and had different impacts on both countries economic and political conditions. After a three-year period of policies implementation, South Korea showed more positive results and recovered faster than Indonesia. In comparison to South Korea, the impact of the IMF programs in Indonesia was slow, and even to this day the country has not been able to recover from all the aftereffects of the crisis.
There is scholarly debate on the causes of this issue, but this paper will analyze deeply the obstacles and differences between South Korean and Indonesias experiences in regards to implementation of IMF programs and why did they differ, using the framework of institutional capacity and good governance on the economic development in such crisis. From this thesis, we can see that Indonesia faced several difficulties and challenges due to its political transition which induced by social and political instability, that influenced the capacity and capability of its new and weak cabinet, caused the new governance system to be unable to restore its economic downturn. This will further validate the theory of institutional capacity and good governance through a new comparative case. | - |
dc.description.tableofcontents | Contents
I. Introduction 1 1.1 Background 1 1.2 Research Question 7 1.3 Hypotheses 13 1.4 Methodology and Resources 17 1.5 Thesis Outline 19 II. Literature Review 24 2.1 Concepts...................................................................................................24 2.1.1 Institutions and Institutioanal Capacity 25 2.1.2 Good Governance 28 2.1.3 Research Question 30 2.2 Review Asian Financial Crisis Literature 31 2.2.1 IMF implementation in Korea 31 2.2.2 IMF implementation in Indonesia 34 III. The Crisis and Political Power 38 3.1 The Crisis and Power Transition in Korea 38 3.2 The Crisis and Power Transitiion in Indonesia 45 VI. Government Capacity and Capability 53 4.1 Korean Governments Capacity and Capability on Economic and Political Reform 53 4.2 Indonesian Governments Capacity and Capability on Economic and Political Reform 70 V. Discussion and Explanation of the Differences 94 5.1 Comparison on the Reform Progress 94 5.1.1Comparison on Monetary Progress 97 5.1.2Comparison on Banking Restructuring Progress 102 5.2 Comparison on the Economic Recovery 105 VI. Conclusion 110 REFERENCES 118 | - |
dc.format | application/pdf | - |
dc.format.extent | 1727978 bytes | - |
dc.format.medium | application/pdf | - |
dc.language.iso | en | - |
dc.publisher | 서울대학교 대학원 | - |
dc.subject | international political economy | - |
dc.subject.ddc | 320 | - |
dc.title | Political Economy of IMF Policy Implementation: The Cases of 1997-1998 Economic Crises of Korea and Indonesia. | - |
dc.title.alternative | IMF 정책 이행의 정치경제: 1997-1998 한국과 인도네시아의 경제위기 사례 | - |
dc.type | Thesis | - |
dc.contributor.AlternativeAuthor | Prawindu Prima Sukmasari | - |
dc.description.degree | Master | - |
dc.citation.pages | 127 | - |
dc.contributor.affiliation | 사회과학대학 정치외교학부 | - |
dc.date.awarded | 2014-08 | - |
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