The Asian Financial Crisis

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Publisher : MIT Press
ISBN 13 : 9780262692458
Total Pages : 300 pages
Book Rating : 4.6/5 (924 download)

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Book Synopsis The Asian Financial Crisis by : Wing Thye Woo

Download or read book The Asian Financial Crisis written by Wing Thye Woo and published by MIT Press. This book was released on 2000 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the Asian financial crisis of 1997-1999. In addition to the issues of financial system restructuring, export-led recovery, crony capitalism, and competitiveness in Asian manufacturing, it examines six key Asian economies--China, Indonesia, Japan, Korea, Malaysia, and Thailand. The book makes clear that there is little particularly Asian about the Asian financial crisis. The generic character of the crisis became clear during 1998, when it reached Russia, South Africa, and Brazil. The spread of the crisis reflects the rapid arrival of global capitalism in a world economy not used to the integration of the advanced and developing countries. The book makes recommendations for reform, including the formation of regional monetary bodies, the establishment of an international bankruptcy system, the democratization of international organizations, the infusion of public money to revive the financial and corporate sectors in Pacific Asia, and stronger supervision over financial institutions. The book emphasizes a mismatch in Pacific Asia between investment in physical hardware (e.g., factories and machinery) and in social software (e.g., scientific research centers and administrative and judiciary systems). In a world of growing international competitiveness, concerns over governance will weigh increasingly heavily on unreformed Asian countries. The long-term competitiveness of Asia rests on its getting its institutions right.

The Asian Financial Crisis 1995–98

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Author :
Publisher : Harriman House Limited
ISBN 13 : 0857199153
Total Pages : 259 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis The Asian Financial Crisis 1995–98 by : Russell Napier

Download or read book The Asian Financial Crisis 1995–98 written by Russell Napier and published by Harriman House Limited. This book was released on 2021-07-20 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the space of a few months, across Asia, a miracle became a nightmare. This was the Asian Financial Crisis of 1995–98. In this economic crisis hundreds of people died in rioting, political strong men were removed and hundreds of billions of dollars were lost by investors. This crisis saw the US dollar value of some Asian stock markets decline by ninety percent. Why did almost no one see it coming? The Asian Financial Crisis 1995–98 charts Russell Napier’s personal journey during that crisis as he wrote daily for institutional investors about an increasingly uncertain future. Relying on contemporaneous commentary, it charts the mistakes and successes of investors in the battle for investment survival in Asia from 1995–98. This is not just a guide for investors navigating financial markets, but also an explanation of how this crisis created the foundations of an age of debt that has changed the modern world.

The Asian Financial Crisis

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Author :
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.

The Politics of the Asian Economic Crisis

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Author :
Publisher : Cornell University Press
ISBN 13 : 9780801486340
Total Pages : 306 pages
Book Rating : 4.4/5 (863 download)

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Book Synopsis The Politics of the Asian Economic Crisis by : T. J. Pempel

Download or read book The Politics of the Asian Economic Crisis written by T. J. Pempel and published by Cornell University Press. This book was released on 1999 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors analyze the reasons why the crisis affected the nations of Asia in radically different ways. They also consider whether the crisis indicates a radical change in Asia's economic future.

Asian Economic Crisis, 97/98

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Author :
Publisher :
ISBN 13 :
Total Pages : 86 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Asian Economic Crisis, 97/98 by : Kōzō Kunimune

Download or read book Asian Economic Crisis, 97/98 written by Kōzō Kunimune and published by . This book was released on 1999 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The East Asian Crisis

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451935544
Total Pages : 56 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis The East Asian Crisis by : Ms.Kalpana Kochhar

Download or read book The East Asian Crisis written by Ms.Kalpana Kochhar and published by International Monetary Fund. This book was released on 1998-09-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews macroeconomic developments during the first year of the crisis in east Asia and draws some preliminary policy lessons. The crisis is rooted in the interaction of large capital inflows and weak private and public sector governance. At the same time, macroeconomic adjustment in these countries has resulted in some surprising outcomes, including severe economic contractions, low inflation, and rapid external adjustment. The lessons for crisis resolution include the importance of tight monetary policy early on for exchange rate stabilization, flexible fiscal policy, and comprehensive structural reform. Crises are avoided by prudent macroeconomic policies, diligent bank supervision, transparent data dissemination, strong governance, and forward-looking policymaking, even in good times.

Two Crises, Different Outcomes

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Publisher : Cornell University Press
ISBN 13 : 0801455014
Total Pages : 280 pages
Book Rating : 4.8/5 (14 download)

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Book Synopsis Two Crises, Different Outcomes by : T. J. Pempel

Download or read book Two Crises, Different Outcomes written by T. J. Pempel and published by Cornell University Press. This book was released on 2015-05-06 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008–9 and the Asian financial crisis of 1997–98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe. Much had changed across the intervening decade, not least that China rather than Japan had become the locomotive of regional growth, and that the East Asian economies had taken numerous steps to buffer their financial structures and regulatory regimes. This time Asia avoided disaster; it bounced back quickly after the initial hit and has been growing in a resilient fashion ever since. The authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession. Drawing on a mixture of single-country expertise and comparative analysis, they conclude by assessing the long-term prospects that Asian countries will continue their recent success.

The Asian Financial Crisis

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Author :
Publisher : Manchester University Press
ISBN 13 : 1526137682
Total Pages : 409 pages
Book Rating : 4.5/5 (261 download)

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Book Synopsis The Asian Financial Crisis by : Shalendra Sharma

Download or read book The Asian Financial Crisis written by Shalendra Sharma and published by Manchester University Press. This book was released on 2018-07-30 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: This electronic version has been made available under a Creative Commons (BY-NC-ND) open access license. The Asian financial crisis of 1997-98 shook the foundations of the global economy and what began as a localised currency crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies long considered 'miracles' respond? How did the United States, Japan and other G-7 countries respond to the crisis? What role did the IMF play?. Why did China, which suffers many of the same structural problems responsible for the crisis remain conspicuously insulated from the turmoil raging in its midst?. What explains the remarkable recovery now underway in Asia? In what fundamental ways did the Asian crisis serve as a catalyst to the current thinking about the "new international financial architecture"?. This book provides answers to all the above questions and more, and gives a comprehensive account of how the international economic order operates, examines its strengths and weaknesses, and what needs to be done to fix it.

Southeast Asia's Economic Crisis

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Author :
Publisher : Institute of Southeast Asian Studies
ISBN 13 : 9789813055896
Total Pages : 198 pages
Book Rating : 4.0/5 (558 download)

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Book Synopsis Southeast Asia's Economic Crisis by : Heinz Wolfgang Arndt

Download or read book Southeast Asia's Economic Crisis written by Heinz Wolfgang Arndt and published by Institute of Southeast Asian Studies. This book was released on 1999 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Southeast Asia is suddenly in crisis, the largest country - Indonesia - deeply so. This volume, comprising a set of specially commissioned papers, examines the origins, lessons, and future path of the crisis. Why didn't economists foresee the sudden and catastrophic events of 1997-98? How can seemingly robust and vigorous economies fall so far, so swiftly? Do we, in consequence, need to change the way we view the world? Is there anything to salvage of the "East Asian miracle"? Is Southeast Asia about to experience its own version of the "lost decade", analogous to that which afflicted much of Africa and Latin America in the 1980s?

The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451844646
Total Pages : 67 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform by : Mr.Angel J. Ubide

Download or read book The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform written by Mr.Angel J. Ubide and published by International Monetary Fund. This book was released on 1999-03-01 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: After years of strong performance, Korea’s economy entered a crisis in 1997, owing largely to structural problems in its financial and corporate sectors. These problems emerged in the second half of that year, when the capital inflows that had helped finance Korea’s growth were reversed, as foreign investors—reeling from losses in other Southeast Asian economies—decided to reduce their exposure to Korea. This paper focuses on the sources of the crisis that originated in the financial sector, the measures taken to deal with it, and the evolution of key banking and financial variables in its aftermath.

The Political Economy of the Asian Financial Crisis

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Author :
Publisher : Columbia University Press
ISBN 13 : 088132308X
Total Pages : 291 pages
Book Rating : 4.8/5 (813 download)

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Book Synopsis The Political Economy of the Asian Financial Crisis by : Stephan Haggard

Download or read book The Political Economy of the Asian Financial Crisis written by Stephan Haggard and published by Columbia University Press. This book was released on 2010-10-01 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian crisis has sparked a thoroughgoing reappraisal of current international financial norms, the policy prescriptions of the International Monetary Fund, and the adequacy of the existing financial architecture. To draw proper policy conclusions from the crisis, it is necessary to understand exactly what happened and why from both a political and an economic perspective. In this study, renowned political scientist Stephan Haggard examines the political aspects of the crisis in the countries most affected—Korea, Thailand, Malaysia, and Indonesia. Haggard focuses on the political economy of the crisis, emphasizing the longer-run problems of moral hazard and corruption, as well as the politics of crisis management and the political fallout that ensued. He looks at the degree to which each government has rewoven the social safety net and discusses corporate and financial restructuring and greater transparency in business-government relations. Professor Haggard provides a counterpoint to the analysis by examining why Singapore, Taiwan, and the Philippines escaped financial calamity.

From Asian to Global Financial Crisis

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Author :
Publisher : Cambridge University Press
ISBN 13 : 0521118646
Total Pages : 505 pages
Book Rating : 4.5/5 (211 download)

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Book Synopsis From Asian to Global Financial Crisis by : Andrew Sheng

Download or read book From Asian to Global Financial Crisis written by Andrew Sheng and published by Cambridge University Press. This book was released on 2009-09-28 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the current global crisis of 2008-2009. This book shows how the Japanese zero interest rate policy to fight deflation helped create the carry trade that generated bubbles in Asia whose effects brought Asian economies down. The study's main purpose is to demonstrate that global finance is so interlinked and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated. The book explains how current financial policies and regulation failed to deal with a global bubble and makes recommendations on what must change.

The Asian Financial Crisis

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Author :
Publisher :
ISBN 13 :
Total Pages : 400 pages
Book Rating : 4.:/5 (132 download)

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Book Synopsis The Asian Financial Crisis by : Shalendra D. Sharma

Download or read book The Asian Financial Crisis written by Shalendra D. Sharma and published by . This book was released on 2018 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian financial crisis of 1997-98 shook the foundations of the global economy. What began as a localised currency crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies, long considered 'miracles', respond? How did the United States, Japan and other G-7 countries react to the crisis? What role did the IMF play? Why did China, which suffers from many of the same structural problems responsible for the crisis, remain conspicuously insulated from the turmoil raging in its midst? What explains Asia's remarkable recovery just three years after the crisis? In what fundamental ways did the Asian crisis serve as a catalyst to the current thinking about the 'new international financial architecture'? What lessons can be learnt from the crisis by other emerging economies? This book provides answers to all the above questions and more. It gives a comprehensive account of how the international economic order operates, examines its strengths and weaknesses, and what needs to be done to fix it. The book will be vital to students of economics, international political economy, Asian and development studies.

Contagion in the East

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Author :
Publisher :
ISBN 13 :
Total Pages : 102 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Contagion in the East by :

Download or read book Contagion in the East written by and published by . This book was released on 2000 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Asian Financial Crisis and the Architecture of Global Finance

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Author :
Publisher : Cambridge University Press
ISBN 13 : 9780521794220
Total Pages : 322 pages
Book Rating : 4.7/5 (942 download)

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Book Synopsis The Asian Financial Crisis and the Architecture of Global Finance by : Gregory W. Noble

Download or read book The Asian Financial Crisis and the Architecture of Global Finance written by Gregory W. Noble and published by Cambridge University Press. This book was released on 2000-09-11 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of the political and economic causes and consequences of the Asian financial crises.

International Financial Contagion

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Author :
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.

The Asian Financial Crisis

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Author :
Publisher : International Labour Organization
ISBN 13 : 9789221108504
Total Pages : 112 pages
Book Rating : 4.1/5 (85 download)

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Book Synopsis The Asian Financial Crisis by : Eddy Lee

Download or read book The Asian Financial Crisis written by Eddy Lee and published by International Labour Organization. This book was released on 1998 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.