Download or read book The Credit Crunch in East Asia written by Pierre-Richard Agénor and published by World Bank Publications. This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: A two-step approach is used to assess the extent to which the credit crunch in East Asia was supply- or demand-driven. The results for Thailand suggest that the contraction in bank lending that accompanied the crisis was the result of supply factors.
Download or read book East Asia in the Aftermath written by Mr.Atish R. Ghosh and published by International Monetary Fund. This book was released on 1999-03-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a disequilibrium framework to investigate a possible credit crunch in the East Asian crisis countries (Indonesia, Korea, and Thailand) during 1997-98. It defines a credit crunch as a situation in which interest rates do not equilibrate supply and demand for credit and the aggregate amount is supply constrained, i.e. there is quantity rationing. In all three countries, rising real interest rates and weakening economic activity lowered credit demand and (with the exception of Indonesia in late 1997) there is little evidence of quantity rationing at the aggregate level—although individual firms may have lost access to credit.
Download or read book The Credit Crunch in East Asia written by Pierre-Richard Agenor and published by . This book was released on 2004 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper proposes a two-step approach to assessing the extent to which the fall in credit in crisis-stricken East Asian countries was a supply- or demand-induced phenomenon. The first step is based on the estimation of a demand function for excess liquid assets by commercial banks. Such a function is derived analytically in the first part of the paper. The second step consists in establishing dynamic projections for the periods following the crisis and assessing whether or not residuals are large enough to be viewed as indicators of involuntary' accumulation of excess reserves. Results for Thailand indicate that the contraction in bank lending that accompanied the crisis was the result of supply factors.
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 East Asia written by and published by World Bank Publications. This book was released on 1998-01-01 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: East Asia: The Road to Recovery carefully analyzes the events that led to the current economic crisis in East Asia, the tremendous effects the crisis has had on the Asian economies, and prospects for the region's future. Chapters in the book cover the region's trade and competitiveness; the financial sector at the center of the crisis; the corporate sector's financial performance and governance; the social crisis resulting from the financial crash; protection of the environment as well as the people; and policies for sustainable recovery. This book not only discusses how this catastrophe could ever have taken place, but more importantly, what can be done to ensure that it won't happen again.
Download or read book Credit Policies written by Dimitri Vittas and published by World Bank Publications. This book was released on 1995 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation with Reference to the Asian Financial Crisis written by Zhaohui Chen and published by International Monetary Fund. This book was released on 1998-09-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model of private debt financing under inefficient financial intermediation. It suggests a mechanism that can generate the following sequence of events observed in the recent Asian crisis: A period of relatively low capital flow despite a steady improvement in economic fundamentals (capital inflow inertia), followed by a fast buildup of capital inflow, and ended with a large capital outflow and domestic credit crunch. Unlike other models requiring large movements in fundamentals or asset prices to explain a financial crisis, this model can exhibit large credit/capital flow swings with moderate changes in the economic and market environment.
Download or read book Business Groups in East Asia written by Se-jin Chang and published by Oxford University Press on Demand. This book was released on 2006-03-02 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Business Groups in East Asia' examines some East Asian business groups and their subsequent restructuring following the Asian Crisis of 1997. This crisis affected the inter-relationships among the socio-cultural environment, the state and the market of each country quite differently.
Download or read book Financial Crisis and Institutional Change in East Asia written by Jikon Lai and published by Springer. This book was released on 2012-06-19 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the Asian financial crisis of 1997, Lai examines whether East Asian economies converged onto the liberal market model by studying the evolution of the financial sectors of Korea, Malaysia and Thailand. This includes sectoral diversification, the nature of competition, and the regulatory and supervisory frameworks.
Download or read book The East Asia Crisis and Corporate Finances written by Michael Pomerleano and published by World Bank Publications. This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explanations of the causes of the Asian crisis have focused on macroeconomic factors leading to the crisis. This paper offers a complementary corporate distress perspective linking the crisis to corporate finances. Key ratios for companies in various countries are presented in the paper. The global benchmarking imposes a consistent cross-border analysis of financial risk and performance, and sheds light on the crisis. The study provides a statistical review of the financial practices and performance of corporates in Asia: Hong Kong, Indonesia, Korea, Malaysia, Philippines, Taiwan, and Thailand benchmarked against financials of corporates in other countries: Latin America, and industrialized countries: France, Germany, Japan and USA. A thematic point that comes across in all the results of the corporate financial analysis is unsustainable rapid (and probably excessive) investment in fixed assets financed by excessive borrowing in some Asian countries- e.g., Indonesia, Korea and Thailand. The East Asian investment-spending spree resulted in poor profitability, reflected in low, and declining return on equity, and return on capital employed. It leads to the conclusion that at the core of the corporate crisis were financial excesses that violated prudent financial practices, and eventually lead to the inevitable financial distress we are witnessing. Therefore, the empirical findings presented in the paper lend credence to the view advanced by Krugman that crony capitalism was at the core of the crisis. Crony capitalism was manifested in supportive bad policies-e.g., implicit government guarantees, and poor banking supervision- that lead to poor credit allocation decisions in the banking dominated financial system. Preliminary findings suggest as well vast differences in Economic Value Added between countries- developing and developed alike. The conclusions from an economic value added approach indicate, that in an era of increasing capital mobility, corporates are not adhering to global standards in creating shareholder value. The analysis leads to policy conclusions.
Download or read book The Impact of the Economic Crisis on East Asia written by Daigee Shaw and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: This insightful book explores the economic conditions and policy response of four major East Asian economies in the wake of the 2008 global economic crisis. Written by a distinguished group of Asian social scientists, this study summarizes and synthesizes the economic impacts of the crisis on individual countries and their policy response over the past few years, and in particular carefully scrutinizes the immediate and remote causes of the crisis. It not only offers an assessment of the impacts of the crisis, and identifies specific country measures that can be undertaken to stabilize the situation, but also looks at the crisis from three important economic perspectives: that of a healthy fiscal system, international trade, and the energy market. This insightful research monograph will be gratefully received by academics in economics and development studies as well as public policy think tanks. Government economic planning agencies in emerging countries, as well as international economic organizations and institutions such as World Bank and United Nations will also find plenty of key insights and important information in this path-breaking book.
Download or read book HSBC in East Asia before the 2008 Credit Crunch written by Chris Rowley and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We are given an example of how human resources management (HRM) is practiced within the increasingly important East Asian financial markets. We look at HSBC bank's training and developing programmes, as well as the company's recruitment practices within the cultural challenges of a globalized economy.
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 151 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 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 The Political Economy of Distress in East Asian Financial Institutions written by Paola Bongini and published by World Bank Publications. This book was released on 2000 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the East Asian crisis, "connections" - with industrial groups or influential families - increased the probability of distress for financial institutions. Connections also made closure more, not less, likely, suggesting that the closure processes themselves were transparent. But larger institutions, although more likely to be distressed, were less likely to be closed, suggesting a "too big to fail" policy"--Cover.
Download or read book The Asian Currency Crisis written by Gerald Tan and published by Cavendish Square Publishing. This book was released on 2000 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a fascinating account of the financial disaster which overtook Southeast Asia in 1997. The author explains the causes, events, reactions, and effects of the Asian currency crisis. Starting with the crash of the Thai baht, Professor Tan traces the chain of events and details the economic, social and political consequences in the countries involved, plus the responses of the major economic institutions like the World Bank and IMF are described. He also includes a chapter on the Asian economic miracle in the years before the crash, and asks whether that sort of growth is sustainable anyway. The final chapters deal with the lessons to be learned and the possible paths to recovery. This book is essential reading for anyone in the fields of finance, economics, or politics, but it is also interesting and accessible to the lay reader with an interest in world economies.
Download or read book Financial Crisis and Institutional Change in East Asia written by Jikon Lai and published by Springer. This book was released on 2012-06-19 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the Asian financial crisis of 1997, Lai examines whether East Asian economies converged onto the liberal market model by studying the evolution of the financial sectors of Korea, Malaysia and Thailand. This includes sectoral diversification, the nature of competition, and the regulatory and supervisory frameworks.
