Economic Crises and the Breakdown of Authoritarian Regimes Indonesia and Malaysia in Comparative Perspective
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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New York, N.Y
Cambridge University Press
17.08.2009
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| ISBN: | 0521744385, 9780521744386, 0521767938, 9780521767934 |
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| Abstract | 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. |
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| AbstractList | 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. 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. |
| Author | Pepinsky, Thomas B. |
| Author_xml | – sequence: 1 givenname: Thomas B. surname: Pepinsky fullname: Pepinsky, Thomas B. organization: Cornell University, New York |
| BackLink | https://cir.nii.ac.jp/crid/1130000796317311744$$DView record in CiNii |
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| Copyright | Thomas B. Pepinsky 2009 |
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| DOI | 10.1017/CBO9780511609954 |
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| Notes | Includes bibliographical references and index |
| OCLC | 609843076 |
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| Snippet | Why do some authoritarian regimes topple during financial crises, while others steer through financial crises relatively unscathed? In this book, Thomas B.... |
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| SubjectTerms | Authoritarianism Authoritarianism -- Indonesia Authoritarianism -- Malaysia Indonesia -- Economic conditions -- 20th century Indonesia -- Economic policy -- 20th century Indonesia -- Politics and government -- 20th century Malaysia - Economic conditions - 20th century Malaysia -- Economic policy -- 20th century Malaysia -- Politics and government -- 20th century |
| Subtitle | Indonesia and Malaysia in Comparative Perspective |
| TableOfContents | Mild Crisis -- Mahathirism versus Anarchy -- The 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 -- From Orthodoxy to the Tequila Crisis to Authoritarian Breakdown -- Conclusion: 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 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 -- The New Order -- Fixed 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 -- Exchange Rate and Capital Account Policy -- Alternative 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' |
| Title | Economic Crises and the Breakdown of Authoritarian Regimes |
| URI | http://dx.doi.org/10.1017/CBO9780511609954 https://doi.org/10.1017/CBO9780511609954?locatt=mode:legacy https://cir.nii.ac.jp/crid/1130000796317311744 https://ebookcentral.proquest.com/lib/[SITE_ID]/detail.action?docID=452012 https://www.vlebooks.com/vleweb/product/openreader?id=none&isbn=9780511609954 https://www.vlebooks.com/vleweb/product/openreader?id=none&isbn=9780511699191&uid=none https://www.vlebooks.com/vleweb/product/openreader?id=none&isbn=9781107194540&uid=none |
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