The Asian Crisis: Causes and Consequences
AbstractThis paper reviews the explanations and the consequences of the Asian crisis. Two major competing explanations are identified. These place the roots of the crisis either in the affected economies or within the international capital market. We locate these explanations within alternative paradigms about the effectiveness of market coordination. The consequences of the crisis are discussed in terms of the impact on unemployment and poverty, growth and trade. The role of the International Monetary Fund is also considered and its evaluation is shown to depend on which model of explanation is thought most plausible. A number of concluding comments complete the discussion. Copyright 1999 by Blackwell Publishers Ltd and The Victoria University of Manchester
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Bibliographic InfoArticle provided by University of Manchester in its journal Manchester School.
Volume (Year): 67 (1999)
Issue (Month): 5 (Special Issue)
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Postal: Manchester M13 9PL
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1463-6786
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- Kirkpatrick, Colin & Tennant, David, 2002. "Responding to Financial Crisis: The Case of Jamaica," World Development, Elsevier, vol. 30(11), pages 1933-1950, November.
- Mah, Jai S., 2006. "Economic restructuring in post-crisis Korea," The Journal of Socio-Economics, Elsevier, vol. 35(4), pages 682-690, August.
- Jai S. Mah, 2003. "The Restructuring in the Post-Crisis Korean Economy," Working papers 2003-46, University of Connecticut, Department of Economics.
- Katsushi S. Imai & Raghav Gaiha & Ganesh Thapa & Samuel Kobina Annim, 2013. "Financial Crisis in Asia: Its Genesis, Severity and Impact on Poverty and Hunger," Discussion Paper Series DP2013-10, Research Institute for Economics & Business Administration, Kobe University.
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