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The Impact Of The Asian Crisis On Governance:Does Oecd Membership Or Income Levels Matter?

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  • KAYA Halil Dincer

    (Northeastern State University, United States)

Abstract

We examine the impact of the 1997 Asian Crisis on governance. We look into how the crisis affected High-Income OECD, High-Income Non-OECD, Upper-middle Income, Lower-Middle Income, and Low Income Countries. For measures of governance, we use the World Bank’s Governance Indicators dataset which includes six measures of governance. We find that pre- and post-crisis, the ranking of each income group has not changed except for year 2004 when the High-Income Non-OECD Countries surpassed the High-Income OECD Countries in “Political Stability and Absence of Violence” category. In other words, our results show that, other than that exception in 2004, both pre- and post-crisis, the High-Income OECD Countries had the best governance measures, the High-Income Non-OECD Countries had the second best measures, and so on, in the order shown above. One point to note here: The High-Income Non-OECD Countries performed much better than the other groups after year 1998. After 1998, this group improved in all six dimensions of governance. We conclude that although crises affect all income groups, because of certain characteristics of the High-Income Non-OECD group, they tend to better react to crises.

Suggested Citation

  • KAYA Halil Dincer, 2018. "The Impact Of The Asian Crisis On Governance:Does Oecd Membership Or Income Levels Matter?," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 13(2), pages 115-130, August.
  • Handle: RePEc:blg:journl:v:13:y:2018:i:2:p:115-130
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    References listed on IDEAS

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    1. Ross Levine, 2012. "The Governance of Financial Regulation: Reform Lessons from the Recent Crisis," International Review of Finance, International Review of Finance Ltd., vol. 12(1), pages 39-56, March.
    2. Asayehgn Desta, 2012. "Good Growth and Governance in Africa: Implementing Rather than Re-thinking Development Strategies," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(2), pages 69-75, April.
    3. B. Peters & Jon Pierre & Tiina Randma-Liiv, 2011. "Global Financial Crisis, Public Administration and Governance: Do New Problems Require New Solutions?," Public Organization Review, Springer, vol. 11(1), pages 13-27, March.
    4. John Shuhe Li, 2003. "Relation‐based versus Rule‐based Governance: an Explanation of the East Asian Miracle and Asian Crisis," Review of International Economics, Wiley Blackwell, vol. 11(4), pages 651-673, September.
    5. Walter Kickert, 2012. "State Responses to the Fiscal Crisis in Britain, Germany and the Netherlands," Public Management Review, Taylor & Francis Journals, vol. 14(3), pages 299-309, March.
    6. Walter Kickert, 2012. "State responses to the fiscal crisis: Belgium," Public Money & Management, Taylor & Francis Journals, vol. 32(4), pages 303-310, July.
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    Keywords

    Governance; Asian Crisis; WGI; Economic Crisis;

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