| Publication |
2006.
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| Summary/Abstract |
Political factors are rarely systematically studied as a condition triggering a financial crisis. Although such factors have been hypothesized to influence states to implement structural adjustment policies, the systematic link between political conditions and economic crises is still poorly understood. This study claims that the causes of crises cannot be attributed solely to market forces; they may be the consequence of different political institutions. The findings demonstrate that regime types matter in the timing of financial crisis. As well, the low level of democracy in Asia does not facilitate the duration of economic stability. Rather, these countries are more prone to a financial crisis.
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