The Asian Financial Crisis: Origins, Implications, and Solutions
Title | The Asian Financial Crisis: Origins, Implications, and Solutions PDF eBook |
Author | William C. Hunter |
Publisher | Springer Science & Business Media |
Pages | 513 |
Release | 2012-12-06 |
Genre | Business & Economics |
ISBN | 1461551552 |
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.
Global Markets and Financial Crises in Asia
Title | Global Markets and Financial Crises in Asia PDF eBook |
Author | H. Khan |
Publisher | Springer |
Pages | 266 |
Release | 2004-05-21 |
Genre | Business & Economics |
ISBN | 0230000797 |
Khan presents a theory of financial crises in the age of globalization from an evolutionary perspective and suggests policies that may be necessary for averting or managing new financial crises. Starting with the Asian financial crises, he identifies new types of financial crises that result from a combination of liberalization, weak domestic institutions for economic governance and a chaotic global market system without global governance institutions. Suggested solutions involve building new institutions for global and domestic governance and domestic and international policy reforms.
From Asian to Global Financial Crisis
Title | From Asian to Global Financial Crisis PDF eBook |
Author | Andrew Sheng |
Publisher | Cambridge University Press |
Pages | 505 |
Release | 2009-09-28 |
Genre | Business & Economics |
ISBN | 0521118646 |
This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the current global crisis of 2008-2009. This book shows how the Japanese zero interest rate policy to fight deflation helped create the carry trade that generated bubbles in Asia whose effects brought Asian economies down. The study's main purpose is to demonstrate that global finance is so interlinked and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated. The book explains how current financial policies and regulation failed to deal with a global bubble and makes recommendations on what must change.
The Asian Financial Crisis
Title | The Asian Financial Crisis PDF eBook |
Author | Morris Goldstein |
Publisher | Peterson Institute |
Pages | 236 |
Release | 1998 |
Genre | Business & Economics |
ISBN | 9780881322613 |
The turmoil that has rocked Asian markets since the middle of 1997, and that is now having such deep effects on the economies in the region, is the third major currency crisis of the 1990s. This study explains how the Asian crisis arose and spread. It then outlines the corrective policy measures that could help end the crisis, and the shortcomings that have been revealed in the international financial system that require reform to reduce the chances of a recurrence.
The Global Financial Crisis and Asia
Title | The Global Financial Crisis and Asia PDF eBook |
Author | Masahiro Kawai |
Publisher | Oxford University Press |
Pages | 343 |
Release | 2012-10-25 |
Genre | Business & Economics |
ISBN | 0199660956 |
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.
Financial Big Bang in Asia
Title | Financial Big Bang in Asia PDF eBook |
Author | Masayoshi Tsurumi |
Publisher | Routledge |
Pages | 344 |
Release | 2019-07-23 |
Genre | Social Science |
ISBN | 1351763199 |
This title was first published in 2001. The east Asian economies enjoyed "miraculous" economic growth in the 1990s, and were expected to prosper into the 21st century. However, this was not to be, there was a financial crash in the summer of 1997. The crisis spread from Thailand to the ASEAN economies, and then by the autumn it had reached the northeast Asian economies. Discussions on the causes of the crisis cover a wide variety of possible culprits: hedge funds, foreign exchange policy, dependence on foreign capital, bubble economies, corporate governance, underdeveloped financial markets, and so on. This book focuses on the Asian financial crisi from the long-term perspective of development of financial reform in Asia. The purpose of this book is to analyze and assess the financial crisis in the different Asian economies by comparing them from the point of view of long-run financial system reform, and to consider the future prospects of financial reform in Asia.
The Asian Financial Crisis and the Architecture of Global Finance
Title | The Asian Financial Crisis and the Architecture of Global Finance PDF eBook |
Author | Gregory W. Noble |
Publisher | Cambridge University Press |
Pages | 322 |
Release | 2000-09-11 |
Genre | Business & Economics |
ISBN | 9780521794220 |
An examination of the political and economic causes and consequences of the Asian financial crises.