... the rapid growth in labour productivity, the high rates of savings and capital accumulation and the investment by households in education were all-important factors in the growth of the economy after the Korean War. The unsustainable private debt of corporations, which is now held to be responsible for ... this crisis was instigated was because countries such as Thailand, Malaysia and the Philippines had embraced an unusual policy combination of liberalisation of controls on flows of financial capital on the one hand, and quasi -fixed heavily managed exchange rate systems on the other. ...

• Word Count: 2133
• Approx Pages: 9
• Has Bibliography
• Grade Level: Undergraduate

... statist' model will not be torn up in the interests of a purer Anglo-American neo liberalism. Indeed, evidence from governmental policy reform in South Korea, Thailand and Malaysia since the currency crises of 1997 demonstrates the still central role for the state. For example, labour flexibilisation, as in the reform of the Korean trade unions, has been important, but so too has been ... a recognition of the importance of the state provision of some kind of welfare net for those most disadvantaged by the effects of globalisation.25 What the crisis in Asia and subsequent events in other ...

• Word Count: 9082
• Approx Pages: 36
• Grade Level: Undergraduate