Description
Book SynopsisFinancial markets are given to instability, but some financial systems are more crisis-prone than others. Natasha Hamilton-Hart's historically grounded investigation of central banks, governments, and private bankers in Southeast Asia helps explain...
Trade ReviewExamines central banks, governments, and private bankers in a group of Southeast Asian countries, focusing on the regulatory functions of government with regard to money and finance.
* Journal of Economic Literature *
This is a well-researched and nuanced study of central banks in Indonesia, Malaysia, and Singapore. It traces the historical evolution of the central banks in these countries, the resulting organizational culture, and the governance capacity, which in turn are linked to financial sector outcomes. All social scientists can benefit from the careful research and the many interesting and pertinent observations made throughout Hamilton-Hart's book.
-- Mukul Asher, National University of Singapore * Pacific Affairs *
Hamilton-Hart's thought-provoking book is a very valuable contribution to the literature on states and the financial sector more broadly, and on Southeast Asian comparative political economy more specifically. It offers us new insights into a little-studied phenomenon in political economy, namely the manner in which policies are implemented and the institutional factors that influence that process.
-- Helen E. S. Nesadurai * ASEAN Economic Bulletin *
This is an analysis of the highest quality as well as a highly engaging study. The dramatic events of the Asian economic crisis are used to provide a unique window into the inner workings of the financial and political systems of Singapore, Malaysia, and Indonesia, and into the power relations in which they are embedded.... It is a study not only of banks and financial systems but also of theories of institutional change and reform well anchored in broader theoretical debates about the nature of institutions and power.... One of the strengths of Asian States, Asian Bankers is the author's exploration of how institutions might change in her nuanced and thoughtful consideration of the postcrisis debate about convergence.
-- Richard Robison, Institute of Social Studies, The Hague * Perspectives in Politics *
The author argues the policy merits neither of financial regulation and open capital markets nor of their alternatives, but of states that do what they say they will do.... This study of the impact of institutional development, organizational capacities, and administrative styles in pleasingly old-fashioned in its use of comparative case methods to interrogate complex questions.... The studies of Indonesia, Malaysia, and Singapore are very helpful.
-- Danny Unger, Northern Illinois University * Journal of Asian Business *
Asian States, Asian Bankers is well written and will certainly provide interesting reading to scholars keen on international monetary and financial issues in Southeast Asia.
-- Ramkishen S. Rajan * Asian-Pacific Economic Literature *
