short-term credit and investment ﬂows.
Indeed, the high-performing Asian states’ alleged need to actively mobilize
citizens and corporations behind a coherent market-based development
strategy became the principal justiﬁcation of authoritarian rule. Rulingelites
and advocates of “Asian democracy” argued that Western-style democracy
often leads to undisciplined and disorderly behavior – which are inimical to
rapid economic development. On the other hand, a regime insulated from
conﬂicting societal demands and guided by prudent technocratic decisionmaking was seen as