Download or read book Managing Financial Crises The Experience in East Asia written by Jack Boorman and published by . This book was released on 2006 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management and the way that strategy was implemented, including with regard to official and private financing, structural reforms, and monetary and fiscal policies.
Download or read book Managing Financial Crises The Experience in East Asia written by Ales Bulir and published by INTERNATIONAL MONETARY FUND. This book was released on 2000-06-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management and the way that strategy was implemented, including with regard to official and private financing, structural reforms, and monetary and fiscal policies.
Download or read book Managing Financial Crises The Experience in East Asia written by and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF) presents the full text of the June 2000 working paper entitled "Managing Financial Crises: The Experience in East Asia," prepared by Jack Boorman and others. The text is available in PDF format. This paper reviews the experience of the Asian financial crisis of 1997-98, and discusses the overall strategy of crisis management, how it was implemented, and monetary and fiscal policies.
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?
Download or read book Crisis as Conquest written by Jayati Ghosh and published by Orient Blackswan. This book was released on 2001 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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.
Download or read book Early Warning Systems for Financial Crises written by Asian Development Bank and published by Springer. This book was released on 2005-02-15 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Managing Economic Crisis in Southeast Asia written by Saw Swee-Hock and published by Institute of Southeast Asian Studies. This book was released on 2011 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book incorporates a selection of eight revised papers presented at the Conference on "Managing Economic Crisis in Southeast Asia", organized jointly by the Saw Centre for Financial Studies, NUS Business School and the Institute of Southeast Asian Studies, in January 2010. The chapters deal with the management of the 2008-09 economic crisis in Singapore, Malaysia, Thailand, Vietnam, the Philippines, Indonesia, and the region as a whole. They represent an analysis of the impact of the economic crisis and the stimulus packages that were swiftly put in place by the governments to mitigate the economic recession and to pave the way for a quick recovery. The success of the monetary and fiscal policy measures in engendering a strong economic recovery in these countries is also discussed in considerable depth. The book, with contributions from experts on the topics covered, will be extremely valuable to businessmen, analysts, academics, students, policy-makers and the general public interested in seeking a greater understanding of the sub-prime crisis that led to the global economic recession.
Download or read book Managing Financial Crisis written by and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Managing Economic Crisis in East Asia written by Saw Swee-Hock and published by Institute of Southeast Asian Studies. This book was released on 2010 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book incorporates a selection of eight revised papers presented to the Conference on Managing Economic Crisis in East Asia, organized jointly by the Saw Centre for Financial Studies, NUS Business School, and the East Asian Institute, National University of Singapore, in November 2009. The chapters present a detailed analysis of the impact of the 2008-09 economic crisis in China, Hong Kong, Taiwan, Korea and Japan, and the stimulus packages that were swiftly put in place by the governments to mitigate the economic recession and to pave the way for a quick recovery. The success of the monetary and fiscal policy measures in engendering a strong economic recovery in these countries is also discussed in considerable depth. The book, with contributions from experts on the topics covered, will be extremely valuable to businessmen, analysts, academics, students, policy-makers and the general public interested in seeking a greater understanding of the global economic crisis.
Download or read book Managing Financial and Corporate Distress written by Charles Adams and published by Rowman & Littlefield. This book was released on 2010-12-01 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: A World Bank, International Monetary Fund, and Brookings Institution publication More than three years have elapsed since the East Asian financial crisis erupted, threatening economic and financial stability in the region and beyond. Although many of the region's economies have since staged a remarkable turnaround, much additional restructuring and reform is needed. Managing Financial and Corporate Distress: Lessons from Asia, stands out from other works on the East Asian crisis by moving beyond macroeconomic assessments to offer an institutional treatment of the microeconomic aspects of the corporate and bank restructuring. Contributors draw on their practical, hands-on expertise in various aspects of finance to provide complementary perspectives on how best to set in place strong and responsive institutions that might be able to resolve and avoid future crises in other emerging markets.
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.
Download or read book Managing Economic Development in Asia written by Kuotsai Liou and published by Bloomsbury Publishing USA. This book was released on 2002-03-30 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: From 1965 to 1990, the 23 East Asian economies grew faster than all other regions of the world. The high-performing economies of Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, and Indonesia experienced low and declining levels of income inequality as well. The June 1997 financial crisis has challenged these economies. Many of the high-performing economies have experienced serious problems, including falls in currency and equity markets, significant slowdowns in international trade, and setbacks in economic growth. Emphasizing the role of government and the importance of managing development, this book provides an overview of the major impact of the financial crisis on selected Asian countries and of the development policies implemented. Examining the experience of managing economic development, the book includes contributed chapters on China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Taiwan, Thailand, Singapore, and Southeast Asia. It will be a useful resource for scholars, students, and those researching Asian economic development.
Download or read book East Asia s Financial Systems written by Seiichi Masuyama and published by Institute of Southeast Asian Studies. This book was released on 1999 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial systems in the East Asian region are commanding worldwide attention. Japan's financial sector, with an ailing banking system in the aftermath of a bubble economy, is undergoing a "Big Bang" deregulation, liberalization, and securitization. At the same time, the rehabilitation of Southeast Asian and Korean economies in the wake of the Asian financial crisis awaits restoration of their banking sectors. The region's bank-dominated and development finance-oriented financial systems are coming into friction with global capital markets that lack adequate architecture. In this volume, researchers from ten East Asian think- tanks analyse the financial systems in their respective economies. They survey the financial sector deregulation and liberalization that took place in the midst of economic booms and they evaluate the role of the financial systems in the region's current economic misfortunes. Together, the pieces in this volume lay the groundwork for understanding how financial systems in East Asia have evolved as the economies have grown more complex and capital markets have globalized, and how these systems must adapt to move beyond today's crisis to serve the region's economies in the future.
Download or read book China and East Asia s Post crises Community written by Wei Liang and published by Rowman & Littlefield. This book was released on 2012 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: China and East Asia's Post-Crises Community: A Region in Flux, by Wei Liang and Faizullah Khilji, explores how an East Asian community is taking shape as a result of China's emergence as a global economic power and the shocks of the financial crises emanating from the globalized financial system. From a security oriented US-centric regional structure characterized as the hub and spokes system set up after the Second World War, this region is now more nearly an informal economic community, which increasingly appears to be China-centric. This book presents one of the first attempts to weave together different strands of the current discussion to develop a framework for understanding a rapidly evolving East Asia region.
Download or read book Business Groups in East Asia written by Sea-Jin Chang and published by OUP Oxford. This book was released on 2006-03-02 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1997 Asian Crisis principally affected Thailand, Indonesia, Malaysia, and Korea, as well as other East Asian countries heavily dependent on intra-regional trade. Banks and other financial institutions quickly become insolvent, and heavily indebted industrial firms went bankrupt. Many of these firms were affiliated with the business groups of this region, yet most groups did not immediately collapse, indeed they proved remarkably robust, some surviving and even prospering. This book examines these East Asian business groups and their subsequent restructuring following the Asian Crisis. East Asian nations embarked on very different trajectories to this common external shock. The Asian Crisis affected the inter-relationships among the socio-cultural environment, the state, and the market of each country quite differently and had distinct effects on the operations of these countries' business groups. This slow yet divergent pattern of development provides evidence against theories of rapid global convergence. Yet East Asian business groups face an uncertain future. Foreign investors' influence has increased substantially since the crisis, as East Asian governments had to accommodate their demands to keep attracting foreign capital. Governments supervise banks more closely and have loosened restrictions on mergers and hostile takeovers, further strengthening the discipline of the market. Various entry barriers that had inhibited foreign multinationals from competing in national markets were lifted, exposing business groups to intensified foreign competition. Under these new conditions, business groups in East Asia should reconfigure their business structures and adjust their corporate governance systems to regain momentum for further growth. Business groups will continue to be important vehicles for the sustained future growth of this region, and this book presents a substantial amount of new data on this, which will be of interest to academics, researchers, and advanced students of East Asian business, and business practitioners working within the region.
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?
