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Author: Carl-Johan Lindgren
Publisher:
Published: 1999
Total Pages: 103
ISBN-13: 9781557758712
DOWNLOAD EBOOKAn IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
Author: Yung Chul Park
Publisher: Harvard University Press
Published: 2021-03-30
Total Pages: 375
ISBN-13: 9780674251281
DOWNLOAD EBOOKKorea's financial development has been a tale of liberalization and opening but the new system has failed to steer the country away from financial crises. This study analyzes the changes in the financial system and finds that financial liberalization has contributed little to grow and stabilize the Korean economy.
Author: Chung H. Lee
Publisher: Routledge
Published: 2003-08-29
Total Pages: 292
ISBN-13: 113444334X
DOWNLOAD EBOOKWhat brought about a financial crisis in the "miracle" economies of Asia? What went wrong with financial reform in Asia? What can the developing countries of the world learn from the reform experiences in Asia? Financial Liberalization and the Economic Crisis in Asia analyses how financial liberalization was undertaken in eight Asian countries and how it might be linked to the subsequent crises. The country studies focus on China, India, Indonesia, Japan, Malaysia, the Philippines, South Korea and Thailand.
Author: T. J. Pempel
Publisher: Cornell University Press
Published: 2018-09-05
Total Pages: 304
ISBN-13: 1501729373
DOWNLOAD EBOOKIn the summer of 1997, a tidal wave of economic problems swept across Asia. Currencies plummeted, banks failed, GNP stagnated, unemployment soared, and exports stalled. In short, the vaunted "Asian Economic Miracle" became the "Asian Economic Crisis"—with serious repercussions for nations and markets around the world. While the headlines are still fresh, a group of experts on the region presents the first account to focus on the political causes and implications of the crisis. The events of 1997–98 involved not just property values, financial flows, portfolio makeup, and debt ratios, they argue, but also the power relationships that shaped those economic indicators.As they examine the domestic, regional, and international politics that underlay the economic collapse, the authors analyze the reasons why the crisis affected the nations of Asia in radically different ways. The authors also consider whether the crisis indicates a radical change in Asia's economic future.
Author: H. Chang
Publisher: Springer
Published: 2001-06-11
Total Pages: 307
ISBN-13: 0230518621
DOWNLOAD EBOOKThe financial crisis that hit a number of 'miracle' economies of Asia in 1997 shocked the world. Financial Liberalization and the Asian Crisis rejects conventional explanations of the crisis as the outcome primarily of inefficient and corrupt economics systems in the countries concerned. It argues that the crisis was the result of premature and overly rapid financial liberalization in a world of increasing financial liquidity and volatility, and calls for a more cautious approach to financial liberalization, and a reform of the international financial architecture.
Author: Robert Townsend
Publisher: World Bank Publications
Published: 2003
Total Pages: 52
ISBN-13:
DOWNLOAD EBOOKThe objective of this paper is to assess both the aggregate growth effects and the distributional consequences of financial liberalization as observed in Thailand from 1976 to 1996. A general equilibrium occupational choice model with two sectors, one without intermediation, and the other with borrowing and lending, is taken to Thai data. Key parameters of the production technology and the distribution of entrepreneurial talent are estimated by maximizing the likelihood of transition into business given initial wealth as observed in two distinct datasets. Other parameters of the model are calibrated to try to match the two decades of growth as well as observed changes in inequality, labor share, savings, and the number of entrepreneurs. Without an expansion in the size of the intermediated sector, Thailand would have evolved very differently, namely, with a drastically lower growth rate, high residual subsistence sector, non-increasing wages, but lower inequality. The financial liberalization brings welfare gains and losses to different subsets of the population. Primary winners are talented would-be entrepreneurs who lack credit and cannot otherwise go into business (or invest little capital). Mean gains for these winners range from 17 to 34 percent of observed overall average household income. But liberalization also induces greater demand by entrepreneurs for workers resulting in increases in the wage and lower profits of relatively rich entrepreneurs of the same order of magnitude as the observed overall average income of firm owners. Foreign capital has no significant impact on growth or the distribution of observed income. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to understand financial liberalization and its impact on growth.
Author: Abdullahi Dahir Ahmed
Publisher: Springer Science & Business Media
Published: 2009-10-03
Total Pages: 303
ISBN-13: 3790821683
DOWNLOAD EBOOKThe recent global ?nancial crisis has made ?nancial liberalization a topic of great academic and practical interest. This book makes new contributions to the topic by combining fact-?nding, empirical analysis, and theory to examine the relationship between ?nancial liberalization and economic growth. Among its contributions, the book provides detailed country assessments on the effects of ?nancial liberalization, including its striking impact on the banking sector. Although an important goal of ?nancial deregulation has been to help ?nancial institutions better perform their role in intermediating resources, the book models how deregulation may fail to achieve that goal in countries with underdeveloped ?nancial markets and institutions. For that purpose, the book draws on actual experience in Kenya, Malawi, Botswana, and Thailand. This book should constitute important reading for students of ?nancial economics, researchers and general academics, ?nancial practitioners, policymakers, and teachers of economics. North Carolina, USA Steven L. Schwarcz December 2008 Stanley A. Star Professor of Law & Business, Duke University Founding Director, Duke Global Capital Markets Center Durham vii Abstract and Preface The latest global ?nancial and economic crisis of 2008 shows the need to - examine the desirability of ?nancial liberalization and the basis for the view that ?nancial deregulation by itself cannot be considered as a substitute for better economic management. The literature on ?nancial liberalization has identi?ed various mechanisms through which removing controls on interest rates may impact economic growth.
Author: Wanxue Lu
Publisher: Springer Nature
Published:
Total Pages: 171
ISBN-13: 9819737710
DOWNLOAD EBOOKAuthor: Robert Barry Johnston
Publisher:
Published: 1989
Total Pages: 54
ISBN-13:
DOWNLOAD EBOOKAuthor:
Publisher: World Bank Publications
Published: 1998-01-01
Total Pages: 158
ISBN-13: 9780821342992
DOWNLOAD EBOOKEast 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.
