Financial Crises And Asia

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The Asian Financial Crisis

Wing Thye Woo,Jeffrey Sachs,Klaus Schwab
The Asian Financial Crisis Book PDF

Author : Wing Thye Woo,Jeffrey Sachs,Klaus Schwab
Publisher : MIT Press
Page : 300 pages
File Size : 55,8 Mb
Release : 2000
Category : Business & Economics
ISBN : 0262692457

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The Asian Financial Crisis by Wing Thye Woo,Jeffrey Sachs,Klaus Schwab Pdf

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: Origins, Implications, and Solutions

William C. Hunter,George G. Kaufman,Thomas H. Krueger
The Asian Financial Crisis Origins Implications and Solutions Book PDF

Author : William C. Hunter,George G. Kaufman,Thomas H. Krueger
Publisher : Springer Science & Business Media
Page : 513 pages
File Size : 43,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461551553

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The Asian Financial Crisis: Origins, Implications, and Solutions by William C. Hunter,George G. Kaufman,Thomas H. Krueger Pdf

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.

Two Crises, Different Outcomes

T. J. Pempel,Keiichi Tsunekawa
Two Crises Different Outcomes Book PDF

Author : T. J. Pempel,Keiichi Tsunekawa
Publisher : Cornell University Press
Page : 280 pages
File Size : 52,9 Mb
Release : 2015-05-06
Category : Political Science
ISBN : 9780801455018

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Two Crises, Different Outcomes by T. J. Pempel,Keiichi Tsunekawa Pdf

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.

From Asian to Global Financial Crisis

Andrew Sheng
From Asian to Global Financial Crisis Book PDF

Author : Andrew Sheng
Publisher : Cambridge University Press
Page : 505 pages
File Size : 48,6 Mb
Release : 2009-09-28
Category : Business & Economics
ISBN : 9781139481915

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From Asian to Global Financial Crisis by Andrew Sheng Pdf

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 global crisis of 2008–9. 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 1995–98

Russell Napier
The Asian Financial Crisis 1995 98 Book PDF

Author : Russell Napier
Publisher : Harriman House Limited
Page : 259 pages
File Size : 49,7 Mb
Release : 2021-07-20
Category : Business & Economics
ISBN : 9780857199157

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The Asian Financial Crisis 1995–98 by Russell Napier Pdf

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 Global Financial Crisis and Asia

Masahiro Kawai,Mario B. Lamberte,Yung Chul Park
The Global Financial Crisis and Asia Book PDF

Author : Masahiro Kawai,Mario B. Lamberte,Yung Chul Park
Publisher : Oxford University Press
Page : 343 pages
File Size : 51,5 Mb
Release : 2012-10-25
Category : Business & Economics
ISBN : 9780199660957

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The Global Financial Crisis and Asia by Masahiro Kawai,Mario B. Lamberte,Yung Chul Park Pdf

This book demonstrates how Asian countries tried to minimize the impact of the global financial crisis, identifies structural weaknesses in their economies, and discusses policy options for strengthening Asian economies to avoid future crises and promote sustainable growth in the long-term.

The Asian Financial Crisis

Morris Goldstein
The Asian Financial Crisis Book PDF

Author : Morris Goldstein
Publisher : Peterson Institute
Page : 236 pages
File Size : 54,7 Mb
Release : 1998
Category : Business & Economics
ISBN : 088132261X

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The Asian Financial Crisis by Morris Goldstein Pdf

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 Asian Financial Crisis and the Architecture of Global Finance

Gregory W. Noble,John Ravenhill
The Asian Financial Crisis and the Architecture of Global Finance Book PDF

Author : Gregory W. Noble,John Ravenhill
Publisher : Cambridge University Press
Page : 322 pages
File Size : 53,6 Mb
Release : 2000-09-11
Category : Business & Economics
ISBN : 0521794226

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The Asian Financial Crisis and the Architecture of Global Finance by Gregory W. Noble,John Ravenhill Pdf

An examination of the political and economic causes and consequences of the Asian financial crises.

Global Markets and Financial Crises in Asia

H. Khan
Global Markets and Financial Crises in Asia Book PDF

Author : H. Khan
Publisher : Springer
Page : 251 pages
File Size : 46,6 Mb
Release : 2004-05-21
Category : Business & Economics
ISBN : 9780230000797

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Global Markets and Financial Crises in Asia by H. Khan Pdf

Khan presents a theory of financial crises in the age of globalization from an evolutionary perspective and suggests policies that may be necessary for averting or managing new financial crises. Starting with the Asian financial crises, he identifies new types of financial crises that result from a combination of liberalization, weak domestic institutions for economic governance and a chaotic global market system without global governance institutions. Suggested solutions involve building new institutions for global and domestic governance and domestic and international policy reforms.

Early Warning Systems for Financial Crises

Asian Development Bank
Early Warning Systems for Financial Crises Book PDF

Author : Asian Development Bank
Publisher : Springer
Page : 151 pages
File Size : 48,9 Mb
Release : 2005-02-15
Category : Business & Economics
ISBN : 9780230501065

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Early Warning Systems for Financial Crises by Asian Development Bank Pdf

Since the 1997 Asian financial crisis, East Asia has implemented a number of initiatives designed to strengthen monetary and financial cooperation, bolstering the region's resilience to economic and financial vulnerabilities. One such initiative is the ASEAN+3 Information Exchange and Policy Dialogue, which includes development of early warning systems (EWS) for financial crises. This book examines efforts to develop EWS models. Specifically, the book analyzes the current understanding of the causes of currency and banking crises, describes recent progress in developing and applying EWS models for currency and banking crises, reviews methodolgical issues, assesses the predictive power of EWS models and also highlights areas where further research is required to make these models more effective tools for policy analysis. The case studies apply both parametric and nonparametric approaches to EWS modleing using data from six East Asian countries.

Financial Crises and Asia

Centre for Economic Policy Research (Great Britain)
Financial Crises and Asia Book PDF

Author : Centre for Economic Policy Research (Great Britain)
Publisher : Centre for Economic Policy Research
Page : 84 pages
File Size : 52,6 Mb
Release : 1998
Category : Asia
ISBN : 1898128367

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Financial Crises and Asia by Centre for Economic Policy Research (Great Britain) Pdf

Asset price volatility on world financial markets and foreign exchange markets has increased significantly since the Mexican peso crisis of December 1994. The Asian financial crisis, still underway, will leave significant costs in its wake. The notion that emerging markets can sort out their own problems if left to their own devices is no longer plausible, and policymakers cannot afford to adopt a laissez-faire attitude to this issue. The traditional IMF response of containment is a debatable solution. This report addresses these issues with emphasis on the important lessons that can be learned from the recent events in Asia.

Asia's Financial Crisis and the Role of Real Estate

Koichi Mera,Bertrand Renaud
Asia s Financial Crisis and the Role of Real Estate Book PDF

Author : Koichi Mera,Bertrand Renaud
Publisher : Routledge
Page : 309 pages
File Size : 50,9 Mb
Release : 2016-07-08
Category : Business & Economics
ISBN : 9781315499994

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Asia's Financial Crisis and the Role of Real Estate by Koichi Mera,Bertrand Renaud Pdf

This book by a distinguished academic and a professional economist from the World Bank clearly demonstrates the significant role played by the real estate sector in inducing the Asian crisis; the linkage of the real estate sector to the general economy; the causes of real estate booms and subsequent busts; and the economic costs of real estate price volatility. The book also includes suggestions for moderating such volatility in the future.

Liberalization, Growth, and the Asian Financial Crisis

Mohamed Ariff,Ahmed M. Khalid
Liberalization Growth and the Asian Financial Crisis Book PDF

Author : Mohamed Ariff,Ahmed M. Khalid
Publisher : Edward Elgar Publishing
Page : 552 pages
File Size : 47,7 Mb
Release : 2000-01-01
Category : Business & Economics
ISBN : 1781952736

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Liberalization, Growth, and the Asian Financial Crisis by Mohamed Ariff,Ahmed M. Khalid Pdf

This work examines the effects of financial liberalization of the more advanced economies in Southeast Asia and analyses the degree to which emerging and transitional economies in East and South Asia can benefit from this example.

The Causes and Impact of the Asian Financial Crisis

C. Harvie,Tran Van Hoa
The Causes and Impact of the Asian Financial Crisis Book PDF

Author : C. Harvie,Tran Van Hoa
Publisher : Springer
Page : 243 pages
File Size : 42,8 Mb
Release : 2016-01-20
Category : Business & Economics
ISBN : 9780333982945

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The Causes and Impact of the Asian Financial Crisis by C. Harvie,Tran Van Hoa Pdf

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.

Southeast Asia's Economic Crisis

Heinz Wolfgang Arndt,Hal Hill
Southeast Asia s Economic Crisis Book PDF

Author : Heinz Wolfgang Arndt,Hal Hill
Publisher : Institute of Southeast Asian Studies
Page : 198 pages
File Size : 47,8 Mb
Release : 1999
Category : Business & Economics
ISBN : 9813055898

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Southeast Asia's Economic Crisis by Heinz Wolfgang Arndt,Hal Hill Pdf

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?