Economic crises and the breakdown of authoritarian regimes : Indonesia and Malaysia in comparative perspective / Thomas B. Pepinsky.

Why do some authoritarian regimes topple during financial crises, while others steer through financial crises relatively unscathed? In this book, Thomas B. Pepinsky uses the experiences of Indonesia and Malaysia and the analytical tools of open economy macroeconomics to answer this question. Focusin...

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Bibliographic Details
Main Author: Pepinsky, Thomas B., 1979-
Corporate Author: Cambridge University Press
Format: eBook
Language:English
Published: Cambridge : Cambridge University Press, 2009.
Subjects:
Online Access:Click for online access

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520 |a Why do some authoritarian regimes topple during financial crises, while others steer through financial crises relatively unscathed? In this book, Thomas B. Pepinsky uses the experiences of Indonesia and Malaysia and the analytical tools of open economy macroeconomics to answer this question. Focusing on the economic interests of authoritarian regimes' supporters, Pepinsky shows that differences in cross-border asset specificity produce dramatically different outcomes in regimes facing financial crises. When asset specificity divides supporters, as in Indonesia, they desire mutually incompatible adjustment policies, yielding incoherent adjustment policy followed by regime collapse. When coalitions are not divided by asset specificity, as in Malaysia, regimes adopt radical adjustment measures that enable them to survive financial crises. Combining rich qualitative evidence from Southeast Asia with cross-national time-series data and comparative case studies of Latin American autocracies, Pepinsky reveals the power of coalitions and capital mobility to explain how financial crises produce regime change. 
504 |a Includes bibliographical references and index. 
505 0 |a Cover; Half-title; Title; Copyright; Dedication; Contents; List of Tables; List of Figures; Acknowledgments; Terms and Abbreviations; 1 Crises, Adjustment, and Transitions; Two Countries, Two Trajectories; Understanding Adjustment and Authoritarian Breakdowns; Data and Methods; The Plan of the Book; 2 Coalitional Sources of Adjustment and Regime Survival; The Reform Game; Financial Crises and the Problem of Adjustment; Solutions; Players and Policies; Predictions; The Global Scope of the Argument; Conclusion; Appendix; 3 Authoritarian Support Coalitions: Comparing Indonesia and Malaysia. 
505 8 |a The New OrderFixed Capital: ABRI and the Pribumi Entrepreneurs; Mobile Capital: The Konglomerat; Mahathir's Malaysia; The Malay Masses; Fixed Capital: New Malay Entrepreneurs; Discussion: Alternative Models of Authoritarian Politics; 4 Adjustment Policy in Indonesia, June 1997-May 1998; Crisis Onset; Fiscal and Trade Policy; Monetary Policy; Finance and Corporate Policy; Exchange Rate and Capital Account Policy; Alternative Explanations?; 5 Adjustment Policy in Malaysia, June 1997-December 1999; Crisis Onset; Fiscal and Trade Policy; Monetary Policy; Finance and Corporate Policy. 
505 8 |a Exchange Rate and Capital Account PolicyAlternative Explanations?; 6 Authoritarian Breakdown in Indonesia; Ex Ante Unlikely, Ex Post Inevitable; Legitimacy; Massive Groundswell of Discontent; Irrationality; Structural Contradictions; Coalitional Fracture; Late New Order Politics; From Economic to Political Crisis; The Konglomerat and Chinese Indonesians; Final Months of Regime Unity; Riots, Exit, and Endgame; Conclusion; Postscript: From Authoritarian Breakdown to Democratization; 7 Authoritarian Stability in Malaysia; ''The Tragedy That Didn't Happen''; Mild Crisis. 
505 8 |a Mahathirism versus AnarchyThe Party System; Successful Adjustment; Mahathir's Malaysia in 1997; From Economic to Political Crisis; Anwar versus Mahathir; Containing Domestic Opposition; International Retreat and Domestic Offensive; Capital Controls and Crackdown; The 1999 General Elections; Conclusion; 8 Cross-National Perspectives; Capital Account Restrictions and Regime Survival; Debt Crises in the Southern Cone; Chile, 1981-1985; Argentina, 1981-1983; Uruguay, 1981-1985; Mexico: 1980s and 1990s; The Latin American Debt Crisis in Mexico. 
505 8 |a From Orthodoxy to the Tequila Crisis to Authoritarian BreakdownConclusion: Cross-National Perspectives on Crises, Coalitions, and Change; 9 Conclusions; Implications for Social Science; Theories of Authoritarianism; Open Economy Politics; Authoritarian Breakdowns; Normative Implications; References; Index. 
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