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Which Capitalism? Lessons from the East Asian Crisis

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  • RAGHURAM G. RAJAN
  • LUIGI ZINGALES

Abstract

As a result of the Asian crisis, relationship-based economic systems are now under attack for corruption and inefficiency. Yet, until recently, they were held up as an alternative (and in some respects superior) form of capitalism to the arm's-length, market-based, Anglo-Saxon systems of the U.S. and the U.K. 1998 Morgan Stanley.

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Paper provided by Center for Research in Security Prices, Graduate School of Business, University of Chicago in its series CRSP working papers with number 486.

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Date of creation: Dec 1998
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Handle: RePEc:wop:chispw:486

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