tailieunhanh - Ten Years aFTer: Revisiting the AsiAn FinAnciAl cRisis phần 8

mà đã cố gắng công khai để duy trì một bộ phận dân tộc lao động, nơi các Trung Quốc được phép để kiếm tiền trở lại của bảo vệ chính trị, như đã xảy ra dưới Suharto. Với nền kinh tế Nhật Bản trong ảm đạm trong những năm 1990, nó không còn là người Nhật, những người diễu hành qua khu vực Đông Nam Á trong việc tìm kiếm đầu tư vào tài nguyên thiên nhiên và sản xuất, và cho | Robert Wade So to the extent to which the international financial system uses Anglo-American standards of good financial practices as normal such that non-compliance is deviant it imparts a global warming type of change in the international political economy away from coordinated market economies of the East Asian type and toward the Anglo-American liberal market type. Therefore the financial system s efforts at surveillance should not be understood as just an add-on to previous efforts at market liberalization. The drive for transparency involves not so much removing the veil as a massive program of standardization and reporting using standards derived from good practices in the liberal market economies rather than from good practice in more coordinated economies. The drive for transparency thereby reinforces and legitimizes the injection of the power of dominant states . the G7 states and multilateral organizations in order to intensify and stabilize financial liberalization. As suggested earlier the change is significant enough to justify the label Post-Washington Consensus. 20 The question is whether this shift in the political economy of developing countries towards the liberal or Anglo-American type of capitalism can be justified in terms of improving developing countries prospects for developing countries to catch up to the growth levels of developed countries. The answer is broadly no although defending the answer is well beyond the scope of this paper. Suffice it to quote here the conclusion of Dani Rodrik that the new focus on institutions is not warranted by the evidence because our ability to disentangle the web of causality between prosperity and institutions is seriously limited. But it is clear that countries do not need an extensive set of institutional reforms to spur economic So how did this agenda of transparency standards and surveillance crystallize The key point is that representatives of developing countries and their financial .