The main findings of surveys of 3,700 manufacturing firms in Indonesia, the Republic of Korea, Malaysia, the Philippines, and Thailand. The papers, presented at a conference in Bangkok in early 1999, compare the effect of the 1997-99 crisis on various countries, sectors, and types of firms, in terms of output, exports, and employment. They analyse the causes of corporate decline and assess the policy options to foster corporate recovery. The impact of the financial sector crisis on the corporate sector is discussed through an analysis of corporates' financial structure and credit needs. The extent of foreign corporate indebtedness is reviewed as well as the role debt played in the crisis. Each of the five survey countries prepared a report and these are included.
This rich new database on 4,000 Asian firms, operating in Indonesia, the Republic of Korea, Malaysia, the Philippines, and Thailand, focuses on the impact of Asia's economic crisis and on the longer-run determinants of productivity, employment practices, and financial structure.
This book explores in-depth the major issues and important aspects of this economic recovery and its potential impact on growth, development, trade and investment. Expert contributors also discuss the global directions in international economic and financial relations, corporate and public governance and the challenges to be met and managed in the 21st century.
In light of the periodic financial crises of the late 1990s, there has been a growing recognition of the need for a strategy to avoid and mitigate the severity of crises in the corporate sector, requiring the complementary efforts of policymakers, regulators, lawyers, insolvency experts and financiers. This publication examines the issue of corporate restructuring, drawing on case studies of corporate crises in Indonesia, Korea, Malaysia and Thailand among others; and discusses a range of topics including the key role of governments in securing an enabling legal system, effective out-of-court workouts, supportive tax regimes, policy and regulatory initiatives to address systemic corporate problems.
This exciting sequel to East Asia in Crisis offers a completely up-to-date assessment of the progress of East Asian recovery and provides a detailed review of the experience of the region's economies.
The theme of the book is how a right set of policies can govern a country's well being from an economic standpoint and the vision it takes to propel a country to new heights. The scope of the book is not just development, but how the development was undone by policies and actions that were not governed by that vision.
Following the disastrous economic downturn of some years ago, the economies of East Asia have struggled to regain stability and equilibrium. As the sequel to East Asia: The Road to Recovery, this book offers both an examination of the state of the East Asian economy and analysis of opportunites in the future. With the crisis stage passed, where does East Asia truly stand, and can one be optimistic about its future prospects? East Asia: Recovery and Beyond offers answers to anyone concerned with the East Asian economies.
A theoretical framework aiming to facilitate study of development economics. The author presents his theory in three sections: how advanced nations developed; a proposed third dimension, in addition to labour and capital; and why capital accumulation is unnecessary, even potentially harmful.
With much of the Asian Miracle destroyed and much of the Western world's awe for Asian ways of management dissipated, organizations there are changing with such speed that most of our knowledge about them is quickly outdated. Richter takes stock of East Asian management practices, as they are perceived so far, and he discusses the strategies that others propose to help Asian management redesign itself for the future—including a long-term agenda for change based on the cultural heritage of Confucianism. He analyzes the cultural underpinnings of Asian management practices, evaluates the influence of the Asian economic crisis on them, and discusses their potential for guiding Asian firms to a sustainable competitive advantage. He then provides examples of how Asian firms shape up their organizations and describes a short-term agenda to fix the weaknesses in Asian management, at least temporarily. Throughout, Richter avoids talk about strategic management as merely a theory: he adopts a broader definition that includes a value system to guide East Asian firms as they re-emerge and redevelop. The result is a challenging, intensely pragmatic analysis for decision-makers at all levels, in all countries and cultures, and it is a new stone in the foundation of academic research and thought. Richter opens with a discussion of the legacy of Confucianism and its impact on Asian management practices. He then proposes three intrinsic characteristics of Asian management: networks, trust, and collectivism. He gives a history of the Asian economic crisis, highlighting the failures of Asia's economic development and the flaws that appeared in its management practices. The third section of the book evaluates management practices that have emerged since then, and how they are perceived so far. Then, in the concluding section, he presents a new perspective on Asian management, short-term goals (fixing current management weaknesses), and long-term goals (incorporating its long abiding strengths). Throughout, Richter draws on the management theory enunciated by Hofstede and includes examples and case studies of recent developments across the region, and he also includes his own theories as well as those of others. Mr. Richter's book will be a welcome addition to the literature on business and the culture of Asia.
