As the East Asian financial crisis continues to leave a path of destruction economically and politically in its wake, people all over the world seek to know what went wrong. Many blame the illiberal markets of the countries involved and many blame their political leadership. This book, first published in 2000, explores how strong, open, liberalized markets create a counterbalance to crony capitalism and corruption and form the basis for a foundation of political liberalization. Using both a quantitative model and qualititative country studies, this work analyzes the experiences of China, Taiwan, Indonesia, and Korea in moving toward both marketization and democracy.
1. Introduction; 2. Theories of economic development and policy; 3. The model; 4. Quantitative analysis of democracy; 5. Korea: a balancing of power; 6. Taiwan: the bringing in of new elites; 7. Indonesia: unrealized potential; 8. China: a transformation of the societal contract; 9. Conclusions and policy implications.
'Ravich's book shows the importance of market liberalization to the development of the democratic values and institutions in East Asia over the last four decades. She presents a compelling argument that U.S. policies for promoting democracy abroad should be crafted hand-in-hand with policies that advocate economic liberalization. Highly recommended.' Donald Rumsfeld, Former Secretary of Defense
John W. Peabody, M. Omar Rahman, Paul J. Gertler, Joyce Mann, Donna O. Farley, Jeff Luck, Los Angeles) Peabody, John W. (University of California, Massachusetts) Rahman, M. Omar (Harvard University, California) Gertler, Paul J. (RAND Corporation, Berkeley) Mann, Joyce (University of California, California) Farley, Donna O. (RAND Corporation, California) Luck, Jeff (RAND Corporation
Robert J. MacCoun, Peter Reuter, Berkeley) MacCoun, Robert J. (University of California, College Park) Reuter, Peter (University of Maryland, Robert J. Maccoun
John W. Peabody, M. Omar Rahman, Paul J. Gertler, Joyce Mann, Donna O. Farley, Jeff Luck, Los Angeles) Peabody, John W. (University of California, Massachusetts) Rahman, M. Omar (Harvard University, California) Gertler, Paul J. (RAND Corporation, Berkeley) Mann, Joyce (University of California, California) Farley, Donna O. (RAND Corporation, California) Luck, Jeff (RAND Corporation
Robert J. MacCoun, Peter Reuter, Berkeley) MacCoun, Robert J. (University of California, College Park) Reuter, Peter (University of Maryland, Robert J. Maccoun