Conclusions and Implications

Abstract

The central argument of this book is that inter-party and intra-party organisational dimensions interact to shape the orientation and pattern of financial policy-making in developing and emerging market countries. Drawing upon theoretical studies on the policy impact of political parties, this book has addressed cross-country differences in financial policy choices and capital market reforms in Malaysia, Singapore and Thailand over the past two decades. In the previous chapters, the explanatory approach that considers party system concentration in tandem with internal party organisational strength has shown that financial and regulatory policies varied significantly between the three cases in response to the national configurations of political parties. The different patterns of policy choices and regulatory changes in turn led to varied market reform patterns and development trajectories.