A crise asiática: para além das explicações convencionais

Resumo

Conventional wisdom has emphasized that the Asian crisis was
caused by a given pattern of political Intervention In the market forces,
where the State provided implicit guaranties over investments private
decisions, leading to reckless behavior In the allocation of the resources —
the named crony capitalism. We suggest that, on contrary, explanations of
the crisis have to be found in the break up of the developmental coordination
of the States, especially after the deepening of the financial liberalization
in the 90's.