CEU Electronic Theses and Dissertations, 2009
| Author | Varga, Katalin |
|---|---|
| Title | Financial Standardization in Comparative Perspective: the Cases of Malaysia and South Korea |
| Summary | After the 1997 crisis in East Asia the IMF began to promote international financial standards in the region. The IMF believed that the implementation of such good practices can secure sustainable growth for the countries of the region. Since then economists followed with curiosity the implementation process of the standards in these countries and were analysing the success of the framework. Nevertheless, new researches imply that the countries did not comply with these rules to such an extent as it was earlier believed. Even where formal compliance did take place the enforcement of the rules is problematic. Political economy theories imply that as these countries failed to implement good practices their economic growth has to be low. However, data show differently. I present the implementation process of banking and corporate governance standards in the cases of Korea and Malaysia. I argue that due to the Confucian characteristics of Capitalism in these countries compliance with financial standards is not crucial for the economic growth of these countries. |
| Supervisor | Csaba, László |
| Department | International Relations MA |
| Full text | https://www.etd.ceu.edu/2009/varga_katalin.pdf |
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