The Asian Crisis and the Global Economy: Causes, Consequences, and Cure

Robert Wade is a professor of political science and international political economy at Brown University. He is the author of Governing the Market: Economic Theory and the Role of Government in East Asian Industrialization (Princeton, N.J.: Princeton University Press, 1990). This article draws on “From ‘Miracle’ to ‘Cronyism’: Explaining the Great Asian Slump,” in the November 1998 issue of the Cambridge Journal of Economics, and “The Gathering World Slump and the Battle over Capital Controls,” New Left Review, September–October 1998.