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Author: C. Harvie Publisher: Springer ISBN: 0333982940 Category : Business & Economics Languages : en Pages : 243
Book Description
As witness to one of the world's great crises in recent times, academics and students, business people, national and international government analysts, policy makers and political leaders worldwide have been pre-occupied by an effort to adequately unravel or sufficiently understand the factors that have brought about the so-called Asian financial, currency or economic crisis and hopefully to find plausible cures or solutions to it. This book examines the impact of economic globalization in developing economies and it applies empirical studies of all of the major countries to theoretical perspectives on the crisis.
Author: C. Harvie Publisher: Springer ISBN: 0333982940 Category : Business & Economics Languages : en Pages : 243
Book Description
As witness to one of the world's great crises in recent times, academics and students, business people, national and international government analysts, policy makers and political leaders worldwide have been pre-occupied by an effort to adequately unravel or sufficiently understand the factors that have brought about the so-called Asian financial, currency or economic crisis and hopefully to find plausible cures or solutions to it. This book examines the impact of economic globalization in developing economies and it applies empirical studies of all of the major countries to theoretical perspectives on the crisis.
Author: Morris Goldstein Publisher: Peterson Institute ISBN: 9780881322613 Category : Business & Economics Languages : en Pages : 236
Book Description
The turmoil that has rocked Asian markets since the middle of 1997, and that is now having such deep effects on the economies in the region, is the third major currency crisis of the 1990s. This study explains how the Asian crisis arose and spread. It then outlines the corrective policy measures that could help end the crisis, and the shortcomings that have been revealed in the international financial system that require reform to reduce the chances of a recurrence.
Author: Karl Jackson Publisher: Routledge ISBN: 0429981805 Category : Political Science Languages : en Pages : 293
Book Description
For much of the second half of the twentieth century, the Asian economic "miracle" has fueled the greatest expansion of wealth for the largest population in the history of mankind. In the summer of 1997, thirty years of economic boom came crashing back to earth. The reality of unrestrained speculation, inefficiently regulated currency exchange, banking instability and bad loans have struck the much-vaunted "Asian Tigers" like Thailand, Indonesia, Korea, and, finally, Japan, casting a shadow of uncertainty on a region recently to the fore in the world economic system. Recovery depends largely on reform within the Asian economies themselves and a cold assessment of the structural weaknesses that lay under the surface, but only now have come to light. The implications for world economies and, more broadly, the dynamics of world politics, are tremendous.
Author: Mr.Andrew Berg Publisher: International Monetary Fund ISBN: 1451855966 Category : Business & Economics Languages : en Pages : 63
Book Description
This paper tells the story of the Asian financial crisis by addressing four questions: What were the causes of the crisis, how did the crisis unfold, what were the policy responses, and what have been the outcomes? The paper takes the view that none of these questions can be understood without appreciating the fundamental vulnerabilities that left authorities without effective tools to counter sudden capital outflows. The pattern of output decline suggests that these vulnerabilities, particularly weaknesses in domestic financial systems, played a larger role than tight monetary policy in determining outcomes.
Book Description
Presents the first theoretical analysis of the Asian financial crisis and draws out the general lessons of an event whose potential long term effects have been likened to those of the Crash of 1929. Part I presents a factual and analytic overview of what happened: the role of 'vulnerability'; the interconnection between currency crises and financial crises; and why crisis turned into collapse. Part II considers more detailed issues, including how the inflation of non-traded goods prices created vulnerability, welfare-reducing capital inflow owing to under-regulated financial markets, and the onset of speculative attacks. Part III assesses all aspects of contagion, in particular the role of geographic proximity. The final section addresses policy issues. Joseph Stiglitz argues that there is much that can be done to reduce the frequency of crises and to mitigate the severity of crises when they happen. The book finishes with a round-table discussion of policy issues.
Author: Yunpeng Zhu Publisher: Edward Elgar Publishing ISBN: 9781782541943 Category : Business & Economics Languages : en Pages : 280
Book Description
This volume presents a scholarly insider's perspective on the Asian economic crisis, examining the social, economic and political consequences of the crisis in six influential Asian economies: Indonesia, Korea, Malaysia, the Philippines, Taiwan and Thailand. Each chapter contains an analysis of the events leading up to and during the crisis, the social impacts and an assessment of possible futures for these countries. The contributors expertise and use of up-to-date data ensures an integrated approach by which the process of economic change can be understood. The book reveals that professional workers in the urban financial sector, as well as manual labourers in the export sector, felt the most dramatic effects. Impacts on the latter group resulted in a significant rise in the population living below the poverty line. The book emphasises the previous absence of strong social security 'nets' and the need to strengthen macroeconomic policies and institutional, legal, regulatory and supervisory structures. Other topics covered include intractable government corruption and fiscal management.
Author: Eddy Lee Publisher: International Labour Organization ISBN: 9789221108504 Category : Asia Languages : en Pages : 112
Book Description
This study examines the social impact of the Asian financial crisis which began in July 1997. Several countries experienced an economic shock of unprecedented severity after decades of uninterrupted growth. The severe rise in unemployment and its repercussions in the worst-affected countries (Thailand, Republic of Korea and Indonesia) overwhelmed the underdeveloped systems of social protection. Higher unemployment and inflation combined to push many people into poverty. A central policy message is that current programmes of policy and institutional reform following the crisis, should include a basic rethinking of the social dimension of the future model of development. The author also argues for the introduction of unemployment insurance, the expansion of social assistance and the strengthening of active labour market policies.
Author: Masahiro Kawai Publisher: OUP Oxford ISBN: 0191636738 Category : Business & Economics Languages : en Pages : 343
Book Description
This book aims to identify and analyze the impact of the 2007-09 global financial crisis on Asian economies and to assess the short-term and longer-term policy responses to the crisis in terms of their effectiveness and sustainability. It draws lessons on how best to avoid and/or mitigate future crises and to identify structural policy recommendations that can help guide Asian policymakers to expand the growth potential of domestic and regional demand in coming years, and thereby create a basis for sustainable and inclusive long-term growth. Organized into four parts, it offers an accessible explanation of the causes, consequences, and contagion mechanisms of the crisis. Part 1 provides an overview of the major issues and presents policy recommendations. Part 2 reviews the crisis in the US and its transmission to Europe. Part 3 focuses on the impact on Asia. And Part 4 concludes lessons of the crisis for Asian countries. The volume highlights that Asian economies have already recovered strongly from the global financial crisis, reflecting their aggressive moves to ease monetary and fiscal policy as well as the underlying fundamental strength of their economies. However, the biggest challenge lies ahead. It asserts that, given that it is unlikely that the US and Europe will be engines of global growth, Asian economies should contribute to global economic adjustment by creating their own growth engines.
Author: C. Harvie
Author: C. Harvie
Author: Van Hoa Tran
Author: Morris Goldstein
Author: Gregory W. Noble
Author: Karl Jackson
Author: Mr.Andrew Berg
Author: Pierre-Richard Agénor
Author: Yunpeng Zhu
Author: Eddy Lee
Author: Masahiro Kawai