Asian Contagion

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Asian Contagion

Author : Karl Jackson
Publisher : Routledge
ISBN 13 : 0429970722
Total Pages : 329 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis Asian Contagion by : Karl Jackson

Download or read book Asian Contagion written by Karl Jackson and published by Routledge. This book was released on 2018-03-05 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

International Financial Contagion

Author : Stijn Claessens
Publisher : Springer Science & Business Media
ISBN 13 : 1475733143
Total Pages : 461 pages
Book Rating : 4.4/5 (757 download)

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Book Synopsis International Financial Contagion by : Stijn Claessens

Download or read book International Financial Contagion written by Stijn Claessens and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.

Containing Contagion

Author : Sara E. Davies
Publisher : Johns Hopkins University Press
ISBN 13 : 1421427397
Total Pages : 225 pages
Book Rating : 4.4/5 (214 download)

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Book Synopsis Containing Contagion by : Sara E. Davies

Download or read book Containing Contagion written by Sara E. Davies and published by Johns Hopkins University Press. This book was released on 2019-03-19 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing an immediate, contemporary example of a region networking its response to disease outbreak events, this insightful book will appeal to global health governance scholars, students, and practitioners.

Crisis and Contagion in East Asia

Author : Masahiro Kawai
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)

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Book Synopsis Crisis and Contagion in East Asia by : Masahiro Kawai

Download or read book Crisis and Contagion in East Asia written by Masahiro Kawai and published by World Bank Publications. This book was released on 2001 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency and banking crises such as those originating in Mexico (1994), Thailand (1997), and the Russian Federation (1998) tend to be associated and often take place together across countries. The East Asian experience was a fruitful laboratory for examining key questions. For example: How did contagion occur so extensively, and why was it so devastating? Did policy responses to crises and contagion minimize their impact on the real economy? What type of international financial architecture is needed to prevent and manage crises and contagion?

Asian Contagion

Author : Karl Jackson
Publisher : Westview Press
ISBN 13 : 9780813390352
Total Pages : 328 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis Asian Contagion by : Karl Jackson

Download or read book Asian Contagion written by Karl Jackson and published by Westview Press. This book was released on 1999-01-01 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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, misallocated private investment, fixed exchange rates, and inadequately supervised banks has struck the much-vaunted “Asian Tigers” like Thailand, Indonesia, Korea, and finally, Japan, casting a shadow of uncertainty on a region recently at the forefront of 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.In Asian Contagion: The Causes and Consequences of a Financial Crisis, Karl D. Jackson, director of the Southeast Asia Studies Program at the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University, has commissioned a group of leading experts on business and economic policymaking in Asia in an effort to provide the most up-to-date overview available on the Asian downturn. Each author considers one nation—Japan, China, India, Thailand, Indonesia, Korea, the Philippines, and Vietnam—and the country analysis is framed by an introductory chapter on the roots of the crisis. The chapters consider the most current economic statistics, but view them with an overriding attention to contextualization rather than a more perishable micro focus.

China's Economy in 1998

Author : John Wong
Publisher : World Scientific
ISBN 13 : 9814494666
Total Pages : 48 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis China's Economy in 1998 by : John Wong

Download or read book China's Economy in 1998 written by John Wong and published by World Scientific. This book was released on 1999-04-12 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the financial crisis swept the Asia-Pacific, China seemed to be the one economy in the region which had been left “largely unaffected” for various reasons, including its strong economic and financial fundamentals as well as its strong political will to defend the Renminbi, which had so far firmly stood the ground. However, China's economy ended 1998 with only 7.8% growth, slightly falling short of its officially pledged target of 8%. Though China in 1998 was still rated as the best-performing economy in the region, its economic growth momentum had visibly slowed down. The Asian contagion had finally caught up with China. It is not certain if the Chinese economy is entering a slower growth era though, in the short run, China can boost economic growth by expanding domestic demand. Slower economic growth for the country will have significant negative effects on its economic reform programmes and social stability. Contents:China and the Asian Financial Crisis: An UpdateChina's Economy in 1998 Readership: General. Keywords:

The Asian Financial Crisis

Author : Morris Goldstein
Publisher : Peterson Institute
ISBN 13 : 9780881322613
Total Pages : 236 pages
Book Rating : 4.3/5 (226 download)

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Book Synopsis The Asian Financial Crisis by : Morris Goldstein

Download or read book The Asian Financial Crisis written by Morris Goldstein and published by Peterson Institute. This book was released on 1998 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

China's Unfinished Economic Revolution

Author : Nicholas R. Lardy
Publisher : Brookings Institution Press
ISBN 13 : 9780815791539
Total Pages : 332 pages
Book Rating : 4.7/5 (915 download)

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Book Synopsis China's Unfinished Economic Revolution by : Nicholas R. Lardy

Download or read book China's Unfinished Economic Revolution written by Nicholas R. Lardy and published by Brookings Institution Press. This book was released on 1998-07-01 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's Unfinished Economic Revolution offers a fundamentally different interpretation of China's economic reform. The common view that China's gradualistic approach has served it well overlooks the fact that state-owned banks for the last two decades have channeled a large share of sharply rising household savings into what are mostly unreformed, money-losing companies. The result is that several of China's largest financial institutions now are insolvent. To avoid a major domestic banking crisis the book argues that China must recapitalize and restructure its domestic banking system and end the long-standing practice of making lending decisions based on political rather than economic criteria. Nicholas Lardy explains that this course will inevitably be costly in political terms, in part because it will lead for a time to a slower rate of economic growth. But the alternative is even less attractive—permanently slower growth, continued macroeconomic instability, an inability to meet the expectations of the international community for the opening of its domestic financial markets, and insufficient resources to deal with severe environmental deterioration, growing water shortages, and a rapidly aging population. This timely book also analyzes the new reform initiatives China has launched in the wake of the Asian financial crisis, suggests additional steps that must be taken, and evaluates the implications for U.S. policy.

Reforming Latin America's Economies

Author : Ricardo Ffrench-Davis
Publisher : Springer
ISBN 13 : 0230509908
Total Pages : 258 pages
Book Rating : 4.2/5 (35 download)

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Book Synopsis Reforming Latin America's Economies by : Ricardo Ffrench-Davis

Download or read book Reforming Latin America's Economies written by Ricardo Ffrench-Davis and published by Springer. This book was released on 2005-09-30 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a comprehensive analysis of why reforms in Latin America have failed in achieving growth and equity. The book focuses on three strategic areas of reforms of the Washington Consensus: Macroeconomics, Trade and Finance.

Financial Market Contagion in the Asian Crisis

Author : Mr.Taimur Baig
Publisher : International Monetary Fund
ISBN 13 : 1451857284
Total Pages : 60 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Financial Market Contagion in the Asian Crisis by : Mr.Taimur Baig

Download or read book Financial Market Contagion in the Asian Crisis written by Mr.Taimur Baig and published by International Monetary Fund. This book was released on 1998-11-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper tests for evidence of contagion between the financial markets of Thailand, Malaysia, Indonesia, Korea, and the Philippines. Cross-country correlations among currencies and sovereign spreads are found to increase significantly during the crisis period, whereas the equity market correlations offer mixed evidence. A set of dummy variables using daily news is constructed to capture the impact of own-country and cross-border news on the markets. After controlling for own-country news and other fundamentals, the paper shows evidence of cross-border contagion in the currency and equity markets.

Financial Crisis, Contagion, and Containment

Author : Padma Desai
Publisher : Princeton University Press
ISBN 13 : 9780691113920
Total Pages : 326 pages
Book Rating : 4.1/5 (139 download)

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Book Synopsis Financial Crisis, Contagion, and Containment by : Padma Desai

Download or read book Financial Crisis, Contagion, and Containment written by Padma Desai and published by Princeton University Press. This book was released on 2003 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sweeping critical account of the financial crises that rocked East Asia and other parts of the world beginning with the collapse of the Thai baht in 1997. Padma Desai retraces the story of Asia's "Crisis Five"--Indonesia, Malaysia, South Korea, the Philippines and Thailand.

Financial Crisis, Contagion, and Containment

Author : Padma Desai
Publisher : Princeton University Press
ISBN 13 : 1400865379
Total Pages : 320 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Financial Crisis, Contagion, and Containment by : Padma Desai

Download or read book Financial Crisis, Contagion, and Containment written by Padma Desai and published by Princeton University Press. This book was released on 2014-11-23 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a sweeping, up-to-date, and boldly critical account of the financial crises that rocked East Asia and other parts of the world beginning with the collapse of the Thai baht in 1997. Retracing the story of Asia's "Crisis Five"--Indonesia, Malaysia, South Korea, the Philippines, and Thailand--Padma Desai argues that the region's imprudently fast-paced opening to the free flow of capital was pushed by determined advocates, official and private, in the global economy's U.S.-led developed center. Turmoil ensued in these peripheral economies, the Russian ruble faltered, and Brazil was eventually hit. The inequitable center-periphery relationship also extended to the policy measures that the crisis-swept economies implemented under International Monetary Fund bailouts, which intensified the downturns induced by the panic-driven outflows of short-term capital. Financial Crisis, Contagion, and Containment examines crisis origin and resolution in a comparative perspective by combing empirical evidence from the most robust economies to the least. Why is the U.S. relatively successful at weathering economic ups and downs? Why is Japan stuck in policy paralysis? Why is the European Central Bank unable to achieve both inflation control and stable growth? How can emerging markets avoid turbulence amid free-flowing speculative capital from private lenders of the developed center? Engaging and nontechnical yet deeply insightful, this book appears at a time when the continuing turmoil in Argentina has revived policy debates for avoiding and addressing financial crises in emerging market economies.

The Causes and Impact of the Asian Financial Crisis

Author : C. Harvie
Publisher : Springer
ISBN 13 : 0333982940
Total Pages : 243 pages
Book Rating : 4.3/5 (339 download)

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Book Synopsis The Causes and Impact of the Asian Financial Crisis by : C. Harvie

Download or read book The Causes and Impact of the Asian Financial Crisis written by C. Harvie and published by Springer. This book was released on 2016-01-20 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Asian Financial Crisis: Origins, Implications, and Solutions

Author : William C. Hunter
Publisher : Springer Science & Business Media
ISBN 13 : 1461551552
Total Pages : 513 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis The Asian Financial Crisis: Origins, Implications, and Solutions by : William C. Hunter

Download or read book The Asian Financial Crisis: Origins, Implications, and Solutions written by William C. Hunter and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the late 1990s, Korea, Thailand, Indonesia and Malaysia experienced a series of major financial crises evinced by widespread bank insolvencies and currency depreciations, as well as sharp declines in gross domestic production. This sudden disruption of the Asian economic `miracle' astounded many observers around the world, raised questions about the stability of the international financial system and caused widespread fear that this financial crisis would spread to other countries. What has been called the Asian crisis followed a prolonged slump in Japan dating from the early 1980s and came after the Mexican currency crisis in the mid-1990s. Thus, the Asian crisis became a major policy concern at the International Monetary Fund as well as among developed countries whose cooperation in dealing with such financial crises is necessary to maintain the stability and efficiency of global financial markets. This book collects the papers and discussions delivered at an October 1998 Conference co-sponsored by the Federal Reserve Bank of Chicago and the International Monetary Fund to examine the causes, implications and possible solutions to the crises. The conference participants included a broad range of academic, industry, and regulatory experts representing more than thirty countries. Topics discussed included the origin of the individual crises; early warning indicators; the role played by the global financial sector in this crisis; how, given an international safety net, potential risks of moral hazard might contribute to further crises; the lessons for the international financial system to be drawn from the Asian crisis; and what the role of the International Monetary Fund might be in future rescue operations. Because the discussions of these topics include a wide diversity of critical views and opinions, the book offers a particularly rich presentation of current and evolving thinking on the causes and preventions of international banking and monetary crises. The book promises to be one of the timeliest as well as one of the most complete treatments of the Asian financial crisis and its implications for future policymaking.

Crisis and Contagion in East Asia

Author : Sergio L. Schmukler
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Crisis and Contagion in East Asia by : Sergio L. Schmukler

Download or read book Crisis and Contagion in East Asia written by Sergio L. Schmukler and published by . This book was released on 2016 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency and banking cris ...

Asian Contagion

Author : Karl Jackson
Publisher : Routledge
ISBN 13 : 9780367314606
Total Pages : 331 pages
Book Rating : 4.3/5 (146 download)

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Book Synopsis Asian Contagion by : Karl Jackson

Download or read book Asian Contagion written by Karl Jackson and published by Routledge. This book was released on 2019-08-28 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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, misallocated private investment, fixed exchang

The Asian Financial Crisis

Author : Pierre-Richard Agénor
Publisher : Cambridge University Press
ISBN 13 : 0521770807
Total Pages : 446 pages
Book Rating : 4.5/5 (217 download)

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Book Synopsis The Asian Financial Crisis by : Pierre-Richard Agénor

Download or read book The Asian Financial Crisis written by Pierre-Richard Agénor and published by Cambridge University Press. This book was released on 1999-11-04 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.