Download or read book The Social Impact and Response to the Current East Asian Economic and Financial Crisis written by and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 The Social Impact of the Asian Financial Crisis written by Yunpeng Zhu and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a scholarly insider's perspective on the Asian economic crisis, examining the social, economic and political consequences of the crisis in six influential Asian economies: Indonesia, Korea, Malaysia, the Philippines, Taiwan and Thailand. Each chapter contains an analysis of the events leading up to and during the crisis, the social impacts and an assessment of possible futures for these countries. The contributors expertise and use of up-to-date data ensures an integrated approach by which the process of economic change can be understood. The book reveals that professional workers in the urban financial sector, as well as manual labourers in the export sector, felt the most dramatic effects. Impacts on the latter group resulted in a significant rise in the population living below the poverty line. The book emphasises the previous absence of strong social security 'nets' and the need to strengthen macroeconomic policies and institutional, legal, regulatory and supervisory structures. Other topics covered include intractable government corruption and fiscal management.
Download or read book The Social Impact of the Asia Crisis written by Tran Van Hoa and published by Springer. This book was released on 2000-11-30 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two years, the world has been preoccupied with the Asia crisis, its contagion and its economic impact. The social dimension of the turmoil has only recently become the point of focus for debates and investigations by national and international organizations. This book is the first serious academic contribution to this important dimension and contains extensive research, sound analysis and concise presentation by national and international experts on such issues as poverty, education, training, health, nutrition and employment for a number of major economies in Asia and Oceania affected by the crisis.
Download or read book Asian Responses to the Global Financial Crisis written by Jehoon Park and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes account of the global financial crisis from Asian perspectives, considering Asian responses to the crisis via two key arenas – regionalism in Asia and the G20. The expert contributors – both Asian and Western – illustrate that as G20 members, many Asian countries are now able to showcase their increasing powers and influence on global issues. Within this context, and via multidisciplinary economic and political science perspectives, the book deals with various issues such as World System analysis, the debate between the Washington Consensus and the Beijing Consensus, roles within the G20, and the contribution of 'middle' powers such as Korea and Australia. The application of European experiences to Asia is also considered, as are perspectives from the US. The book concludes that the key to resolving the current global economic crisis lies in how quickly a new global governance and monitoring system can be constructed, and that there are multiple roles for Asian countries to play in its development. Written with a uniquely multidisciplinary approach, this book will prove a fascinating read for a wide-ranging audience encompassing academics, students, researchers and policymakers in a number of fields including Asian studies, economics, public policy and regional studies.
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 The Global Financial Crisis and Asia written by Masahiro Kawai and published by Oxford University Press. This book was released on 2012-10-25 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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 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 The Enduring Legacies of the Global Financial Crisis in East Asia written by Iain Pirie and published by Taylor & Francis. This book was released on 2024-07-25 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Enduring Legacies of the Global Financial Crisis in East Asia challenges the assumption that the global financial crisis had a limited structural impact on East Asian political economies, arguing that the crisis has led to a significant, if uneven, reorganization of major national political economies within the region where, in response to the crisis, states have promoted domestic processes of financialization as a means of stimulating their economies. The major East Asian economies, bar Japan, enjoyed strong recoveries from the 2008–2009 financial crisis. However, this success has been achieved by promoting domestic processes of financialization to maintain demand – more precisely, the rapid build-up of household debt (Malaysia, Korea, Taiwan, China) and asset price bubbles (China, Japan). In short, East Asia has employed precisely those practices that the global financial crisis itself illustrated the unsustainability of, to maintain growth. Using a post-Keynesian framework, the book argues that the dependency on these forms of financialization to support demand is a direct product of a failure to address the issue of inequality. High levels of inequality slow the growth of non-debt-based domestic consumption. An alternative approach to supporting demand in the post-crisis period would need to focus on progressive redistribution through strengthening of labour rights and systems of social support, which would directly challenge the interests of economic and political elites. The structural vulnerabilities that accelerated financialization is creating in East Asia demonstrate the necessity of a post-Keynesian growth strategy based on redistribution and curbing financialization. The book also argues that in certain Northeast Asian economies the crisis has led to a consolidation of systems of industrial activism/state control, which could have occurred without accelerated financialization, and vice versa. This book will be of great interest to students and scholars of political economy and Asian studies.
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.
Download or read book Destructive Creativity Of Wall Street And The East Asian Response written by Michael Siam-heng Heng and published by World Scientific. This book was released on 2009-05-04 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies.This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.
Download or read book The Social Impact of the Asian Financial Crisis written by and published by . This book was released on 1998 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Destructive Creativity of Wall St and the East Asian Response written by Michael S. H. Heng and published by World Scientific. This book was released on 2009 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies. This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.
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 Global Financial Crisis And Challenges For China written by Mu Yang and published by World Scientific. This book was released on 2012-07-25 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book analyzes the nature of Chinese economy which enables it to go through the financial tsunami pretty unscathed. It discusses the stimulus package designed by the Chinese government to keep the economy on course, as well as its results — both positive and negative aspects in the middle and long term.The 2008-09 financial crisis makes it very clear that we need a two-pronged approach to deal with the situation, namely governments need a) to take quick and decisive actions to stem any further deterioration in financial systems; b) to revamp their economies by refitting existing engines in the real economy. China, as the third largest economy in the world, and with its robust domestic consumption and a healthy financial system, is one of the most important drivers to pull the world out of recession.According to the Chinese leadership, China's main contribution is to keep its own economy running smoothly. In response to the crisis, the Beijing government has poured money into the following sectors: public housing, earthquake reconstruction, physical infrastructure, social security, education and healthcare. So far, the results have helped China to maintain the targeted high growth. Given the open nature of its economy, its high growth has also benefited other countries, thereby contributing to the global economy.The current crisis strengthens a trend that has emerged since the Asian financial crisis of 1997. And that is the enhanced economic integration of China with its East Asian neighbours and Southeast Asia. This augurs well for East Asian regionalism which may include the birth of Asian Monetary Fund.The global environment in the wake of the crisis poses new challenges to China, for example, in the form of shrinking size of its traditional export market in the USA and Europe. China needs to modify its strategy from previous export-oriented and investment-driven strategy into one with more emphasis on consumption. There is a lot of scope for China to embark on productive consumption such as cleaning up the environment, physical infrastructure, social security, education and healthcare. If done well, they will lay a firm basis for long-term economic development. It represents an occasion for China to embark on a nation-wide effort to upgrade its economy in the key sectors. At the same time, attention needs to be paid to improving economic-legal institutional framework to support China's role as a major global player.
Download or read book Impact Of Covid 19 On Asian Economies And Policy Responses written by Sumit Agarwal and published by World Scientific. This book was released on 2020-12-23 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: On March 12th 2020, World Health Organization (WHO) declared the spreading of the new virus, 2019-nCoV, a pandemic. In Asia, the virus, more commonly referred to as COVID-19, has been spreading since the end of December. To contain the public health threat, almost all countries enforced a variety of measures, including lockdowns, to minimize face-to-face human interactions between the infected and the susceptible.While these vigilant measures save lives, they also generate a substantial negative economic shock that immediately halts demand and significantly disrupts supply, global production value chain and trade. The consequences are dire — considerable decline in output, massive surge in unemployment, countless bankruptcy cases, and unrelentless worries over financial stability. The result, a worldwide economic setback, is more severe than that experienced during the Great Financial Crisis of 2008-2009.Asia's experiences with COVID-19 precede that in the West. This fortuitous timing allows Asia to share its learnings drawn from experiences to benefit the world.The Asian Bureau of Finance and Economic Research's (ABFER) community has gathered a collection of insights to inform the public. Besides providing access to research on the pandemic conducted in Asia, these commentaries offer comprehensive information on the effects of the pandemic, the effectiveness of measures employed to contain it and the subsequent economic impacts from such implementation. With granular analyses of government policies and their associated economic rescue packages, these commentaries elucidate the hard trade-offs between public health protection and economic security. Finally, the commentaries address the broader impact of the pandemic on international trade, global value chains and society.
