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The Asian Financial Crisis: Impact on Human Development

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  • Self, Sharmistha
  • Grabowski, Richard
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    Abstract

    The Asian financial crisis surprised the world and resulted in steep economic downturns in parts of East and Southeast Asia. Its apparent quick recovery however would imply that there was negligible impact on human development. This paper challenges this notion. Using cross-country data from various Human Development Reports, this paper examines what factors were responsible for affecting overall human development in the pre-crisis and post-crisis period. The results indicate that structural changes have occurred and significant social problems persist in the post-crisis period in Southeast and East Asia, which are apparent through declining human and gender development for the region.

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    File URL: http://purl.umn.edu/50152
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    Bibliographic Info

    Article provided by Review of Applied Economics in its journal Review of Applied Economics.

    Volume (Year): 2 (2006)
    Issue (Month): 2 ()
    Pages:

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    Handle: RePEc:ags:reapec:50152

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    Web page: http://www.lincoln.ac.nz/story11874.html

    Related research

    Keywords: financial crisis; human development; structural change; Financial Economics; Labor and Human Capital; 010; 015; 053;

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    11. Loury, Glenn C, 1981. "Is Equal Opportunity Enough?," American Economic Review, American Economic Association, vol. 71(2), pages 122-26, May.
    12. Kevin Lang, 1992. "Does the Human-Capital/Educational-Sorting Debate Matter for Development Policy?," NBER Working Papers 4052, National Bureau of Economic Research, Inc.
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