Crisis And Contagion In East Asia
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Crisis And Contagion In East Asia
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Author : Masahiro Kawai
language : en
Publisher: World Bank Publications
Release Date : 2001
Crisis And Contagion In East Asia written by Masahiro Kawai and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Banks and banking categories.
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?
Crisis And Contagion In East Asia
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Author : Sergio L. Schmukler
language : en
Publisher:
Release Date : 2016
Crisis And Contagion In East Asia written by Sergio L. Schmukler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Currency and banking cris ...
Asian Contagion
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Author : Karl Jackson
language : en
Publisher: Routledge
Release Date : 2018-03-05
Asian Contagion written by Karl Jackson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-05 with Political Science categories.
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.
Volatility And Contagion In A Financially Integrated World
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Author :
language : en
Publisher: World Bank Publications
Release Date : 1998
Volatility And Contagion In A Financially Integrated World written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Asset-liability management categories.
November 1998 Recent events in East Asia highlighted the risks of weak financial institutions and distorted incentives in a financially integrated world. These weaknesses led to two sources of vulnerability: East Asia's rapid buildup of contingent liabilities, and overreliance on short-term foreign borrowing. The buildup of vulnerabilities in East Asia is shown here to be mainly the result of weaknesses in financial intermediation, poor corporate governance, and deficient government policies, including pro-cyclical macroeconomic policy responses to large capital inflows. Weak due diligence by external creditors, fueled partly by ample global liquidity, also played a role but global factors were more important in triggering the crises than in causing them. The crisis occurred partly because the economies lacked the institutional and regulatory structure to cope with increasingly integrated capital markets. Trouble arose from private sector decisions (by both borrowers and lenders) but governments created incentives for risky behavior and exerted little regulatory authority. Governments failed to encourage the transparency needed for the market to recognize and correct such problems as unreported mutual guarantees, insider relations, and nondisclosure of banks' and companies' true net positions. Domestic weaknesses were aggravated by poorly disciplined foreign lending. The problem was not so much overall indebtedness as the composition of debt: a buildup of short-term unhedged debt left the economies vulnerable to a sudden loss of confidence. The same factors made the crisis's economic and social impact more severe than some anticipated. The loss of confidence directly affected private demand-both investment and consumption-which could not be offset in the short run by net external demand. The effect on corporations and financial institutions has been severe because of the high degree of leveraging and the unhedged, short-term nature of foreign liabilities, which has led to a severe liquidity crunch. Domestic recession, financial and corporate distress, liquidity constraints, and political uncertainty were self-reinforcing, leading to a severe downturn. This paper-a joint product of the Economic Policy Unit, Poverty Reduction and Economic Management Network and the Central Bank of Chile-was presented at the CEPR/World Bank conference Financial Crises: Contagion and Market Volatility, May 8-9, 1998, London, and at the PAFTAD 24 conference, Asia Pacific Financial Liberation and Reform, May 20-22, 1998, in Chiangmai, Thailand. Pedro Alba may be contacted at [email protected].
The Asian Financial Crisis
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Author : Pierre-Richard Agénor
language : en
Publisher: Cambridge University Press
Release Date : 1999-11-04
The Asian Financial Crisis written by Pierre-Richard Agénor and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-11-04 with Business & Economics categories.
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.
Crisis As Conquest
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Author : Jayati Ghosh
language : en
Publisher: Orient Blackswan
Release Date : 2001
Crisis As Conquest written by Jayati Ghosh and has been published by Orient Blackswan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with East Asia categories.
To What Extent Does The East Asian Experience Provide Us With A Viable Model Of Economic Development? This Tract Seeks To Answer This Through A Careful Analysis Of The Long-Term Development Of The East Asian Economies And Their Recent Crisis. The Tract Shows The Contradictory Implications Of The Process Of Industrialisation And The Problems Of Unregulated Finance Which Makes Liberalised Economies Extra Sensitive To The Slightest Ripple In Investor Sentiments. To Understand The Specificities Of The East Asian Experience, The Tract Looks Carefully At The Histories Of Crises In Other Parts Of The World, And Provides A Powerful Critique Of The Imf Response To Them.
Financial Crisis Contagion
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Author : Padma Desai
language : en
Publisher:
Release Date : 2003-12-24
Financial Crisis Contagion written by Padma Desai and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-12-24 with Economic stabilization categories.
A Critical Account Of The Financial Crisis That Rocked East Asia And Other Parts Of The World Beginning In 1997. Traces The Story Of Asia`S Crisis Five-Indonesia, Malaysia, South Korea, The Philipines And Thailand. This Insightful Book Appears When The Continuing Turnimoil In Argentina Has Revived Policy Debate For Acoiding And Addressing Financial Crises In Emerging Market Economics.
Asian Contagion
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Author : Karl Jackson
language : en
Publisher: Westview Press
Release Date : 1999-01-01
Asian Contagion written by Karl Jackson and has been published by Westview Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with History categories.
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.
Contagion In The East
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Author :
language : en
Publisher:
Release Date : 2000
Contagion In The East written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with East Asia categories.
East Asia In Crisis
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Author : Ross Garnaut
language : en
Publisher: Routledge
Release Date : 2002-01-22
East Asia In Crisis written by Ross Garnaut and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-01-22 with Social Science categories.
The current economic crisis in East Asia is unprecedented in world economic history. It seemed the economic strength of the region, until very recently, would just keep growing. Now, the macroeconomic achievements of Asia are under threat and the economies of North America and Europe are feeling the results. This book brings together the thoughts of leading experts on the Asian economy and provides a broad and thorough analysis of the situation. It provides case studies from fourteen countries in the region, how the crisis developed and affected them, and the response from governments. There are other non-country specific chapters with a strong theoretical content which address issues such as causation, how such a crisis should be handled, how it might be avoided in the future, and the likely implications for on-going deregulatory and other economic reforms. This is an important authoritative account of one of the most extraordinary economic events and provides a broad synthesis of case studies and theoretical approaches from a variety of researchers with an intimate knowledge of the region.