1. Governing Finance: East Asia's Adoption of International Standards
- Author:
- Saori N. Katada
- Publication Date:
- 01-2009
- Content Type:
- Journal Article
- Journal:
- International Relations of the Asia-Pacific
- Institution:
- Japan Association of International Relations
- Abstract:
- More than a decade has passed since the East Asian economies were marred by the massive financial crisis, which some assessed as the best thing that could have happened to the region (Kristopf and WuDunn, 2000). This 'blessing in disguise' allegedly comes from the fact that the governments of the crisis-hit countries 'responded by launching one of the most ambitious governance reform projects in living memory' (p. 1). Such reform is implemented by the East Asian governments' active compliance to international standards of transparency, finance, and corporate governance. The influence of this so-called 'regulatory neoliberalism' has been credited as the source of convergence of East Asian economies to international norms.
- Topic:
- Government and Governance
- Political Geography:
- East Asia