Essays on the political economy of international financial crises

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" Essays on the political economy of international financial crises "
Jamus Jerome Lim J. W. Aizenman, Donald A.

Document Type	:	Latin Dissertation
Language of Document	:	English
Record Number	:	52393
Doc. No	:	TL22347
Call number	:	‭3219638‬
Main Entry	:	Jamus Jerome Lim
Title & Author	:	Essays on the political economy of international financial crises\ Jamus Jerome Lim
College	:	University of California, Santa Cruz
Date	:	2006
Degree	:	Ph.D.
student score	:	2006
Page No	:	163
Abstract	:	The free flow of global capital has been accompanied by destabilizing international financial crises. The political economy of such crises remain a largely unexplored topic. The essays in this dissertation examine the circumstances surrounding crisis resolution and consequence. Chapter 1 provides an overview, drawing together some central themes that underlie the methodological approach and investigation strategy. Chapter 2 seeks to clarify the channels and factors that influence the formation of post-crisis redistributive policy. It develops a theoretical model that captures the influence of domestic special interest lobbying and international bilateral bargaining on equilibrium lending, bailout, and reallocation decisions. The main predictions are: That post-crisis consumption of groups in the economy is dependent on whether the group is politically organized; and that lending decisions take into consideration both special interest pressures and political capital. Chapter 3 takes the theoretical model developed in Chapter 2 to the data, testing two key predictions of the model using both micro- and macro-level datasets. First, using household survey data for Bulgaria and Indonesia, it finds that political organization influences changes in post-crisis consumption expenditure. Second, using IMF lending data, it finds that political economy considerations influence the determination of actual loan packages. Finally, implications for international financial reform are examined in light of the model's findings. Chapter 4 (coauthored with Thorsten Janus) develops a model of social movement emergence and political change that is not critically dependent on active elite support, but rather on strategic interactions among movement actors as they are impacted by exogenous shocks, such as those experienced during a financial crisis. It then considers extensions such as multiple contracting mechanisms, informational imperfections, and elite involvement. Finally, the historical validity of the model is examined with case studies of Indonesia during the Asian crisis and conflict in the Congo.
Subject	:	Social sciences; Financial crises; International financial crises; Political economy; Redistributive policy; Social movements; Economics; International law; International relations; Essays; International finance; Lobbying; Bailouts; Loans; Models; Polls surveys; Interest groups; Economic crisis; Studies; Indonesia; Bulgaria; 0616:International relations; 0616:International law; 0501:Economics
Added Entry	:	J. W. Aizenman, Donald A.
Added Entry	:	University of California, Santa Cruz