Search results

You are looking at 1 - 10 of 15 items for :

  • restructuring of work x
  • Economics and Business x
Clear All
Open Access (free)
Post-crisis Asia – economic recovery, September 11, 2001 and the challenges ahead

prices in the first six months of 2001. Although prices have since leveled off, the potential oil-price instability (compounded by the uncertainty in the Middle East) remains a major concern. However, the price-rise was something of a mixed blessing. It has worked in favor of net exporters of oil such as Indonesia and Malaysia, but against net importers, such as South Korea, Taiwan, the Philippines and Thailand.8 Korea is more vulnerable to rising 344 Conclusion: after September 11, 2001 international crude oil prices than most other Asian countries. Clearly, Korea

in The Asian financial crisis

: static efficiency of resource allocation: dynamic efficiency of innovation and adaptation; and Schumpeterian creative destruction. But many of these conceptions are what might be called ‘empirico-normative’, stating as much what ought to be as what is. A classic instance of this is the work of Porter, which comprises the more overtly prescriptive (1985) with empirico-normative analysis (1998a, b). ‘Competition is dynamic and rests on innovation and the search for strategic difference’ (Porter, 1998a, p. 209) is a proposition that rolls together statements about what

in Market relations and the competitive process
Open Access (free)
Crisis, reform and recovery

whose interests were likely to be threatened. As the extent of the necessary restructuring became apparent, these tensions increased.” First, Suharto refused to publicize the operations of IBRA. As a result, IBRA officials had to work over the following weeks against a public perception that IBRA was a “paper tiger” and still not operational (Enoch et al. 2001, 33). As the IMF study reports, “the initial workings of IBRA were not apparent to the public, there was confusion as to the authorities’ intentions, and the momentum generated by the January 27 announcement was

in The Asian financial crisis
Open Access (free)
Crisis, reform and recovery

confidence in the program . . . and is determined to proceed rapidly with implementation” (GoT 1997, 1). 106 Thailand: crisis, reform and recovery The second letter outlined in some detail the economic plans and goals. It stated that the government planned to work towards a 1 per cent surplus in the 1997–98 budget, because “this will ensure an orderly offset to the anticipated costs of the financial sector restructuring, while also providing a clear signal of the government’s intent to implement the economic program” (GoT 1997, 2). The 1 per cent surplus was to be achieved

in The Asian financial crisis
Open Access (free)
Crisis, reform and recovery

-rate policy continued throughout the first two quarters of 1998.); (5) the government work hard to accumulate foreign exchange; and (6) a tight fiscal stance be maintained for 1998 to alleviate the burden on monetary policy and to provide for the interest costs of restructuring the financial sector. In the area of financial sector reforms, the program was designed to: (1) restructure and recapitalize the banking system to address the problem of the stock of bad loans and the weak capital base This meant decisively dealing with problem institutions and problem loans by closing

in The Asian financial crisis
Open Access (free)
The evolving international financial architecture

of the corporate sector. Thus, debt-restructuring under CDRC was reserved for viable businesses only, and not those in receivership or liquidation. Moreover, aggregate bank loans had to be RM50 million or more, with at least three lending institutions participating, and the creditor committees representing the interests of at least 75 per cent of the total debt of all creditors. Overall, Danaharta, Danamodal and CDRC worked in tandem to allow banks to reduce their non-performing loans, corporations to reduce their debts and both to strengthen their capital bases

in The Asian financial crisis
Why China survived the financial crisis

’s ability to withstand the crisis, must be understood within the context of its domestic political economy. While it was arguably in China’s interest not to devalue the RMB during the height of crisis, there are forces at work within the economy that may force China to rethink this strategy in the future. The economy: underlying strengths Never in recorded history has an economy grown so rapidly and as extensively as that of post-Mao China. The Third Plenum of the Eleventh Communist Party Congress in December 1978 saw the rise of the late Deng Xiaoping as the paramount

in The Asian financial crisis
Constituting the cultural economy

6 Between markets, firms and networks: constituting the cultural economy Fran Tonkiss Introduction Cultural and creative sectors have come to represent key areas of growth within a number of regional and national economies, and figure prominently within arguments regarding the increasingly ‘cultural’ character of economic processes and the restructuring of market forms. An emergent cultural economy is also of critical interest for institutional analysis, and for a number of reasons. Firstly, such an analysis addresses very clearly the need to take culture

in Market relations and the competitive process
The resurgence of Route 128 in Massachusetts

, B. (1999), ‘Jet engine manufacturing in New England: regional roots and recent restructuring’, Working Paper, Center for Industrial Competitiveness, University of Massachusetts, Lowell. Appelbaum, E., Bailey, T., Berg, P. and Kalleberg, A. (2000), Manufacturing Advantage: Why High Performance Work Systems Pay Off, Ithaca, NY, Cornell University Press. Best, M. (1990), The New Competition, Cambridge, MA, Harvard University Press. Best, M. (1998), ‘Production principles, organizational capabilities and technology management’, in Michie, J. and Grieve-Smith, J. (eds

in Market relations and the competitive process
Open Access (free)

, yet there are recognized procedures, which Lehman had not put in place, and even if they had, it is unlikely that they would have been followed. When Lehman filed for bankruptcy, it was holding $43bn in real estate loans and assets, of which SunCal was one. Lehman was SunCal's main financial backer, lending the developer over $2bn to buy land and add infrastructure, including roads, sewers and power lines, before selling it on to house builders for a profit. Lehman stopped funding construction work on SunCal's projects in 2008, so SunCal took more than 20 of these

in Lehman Brothers