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Financial Crises: Nine Lessons from East Asia

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Author Info

  • Masahiro Kawai

    (University of Tokyo)

  • Richard Newfarmer

    (World Bank)

  • Sergio L. Schmukler

    (World Bank)

Abstract

The 1990s witnessed a surge in private capital flows to developing countries--and a surge in financial crises. The most severe and regionally extensive has (to date) been East Asia's. The last six years has produced a wealth of research that now allows us to abstract policy lessons from the East Asian crisis and the difficulties in implementing them. These lessons span crisis prevention, management and resolution, and building a new international financial architecture with a regional focus. Progress in these areas would have helped prevent, or at least minimize, both the East Asian crisis and more recent crises.

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File URL: http://college.holycross.edu/RePEc/eej/Archive/Volume31/V31N2P185_207.pdf
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Bibliographic Info

Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

Volume (Year): 31 (2005)
Issue (Month): 2 (Spring)
Pages: 185-207

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Handle: RePEc:eej:eeconj:v:31:y:2005:i:2:p:185-207

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Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA
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Web page: http://www.ramapo.edu/eea/journal.html
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Related research

Keywords: Capital Flow; Capital; Developing Countries; Policy;

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References

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Citations

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Cited by:
  1. Masahiro Kawai, 2010. "Reform of the International Financial Architecture: An Asian Perspective," Working Papers id:3066, eSocialSciences.
  2. Kawai, Masahiro & Newfarmer, Richard & Schmukler, Sergio, 2001. "Crisis and contagion in East Asia : nine lessons," Policy Research Working Paper Series 2610, The World Bank.
  3. Coskun, Yener, 2011. "Financial Engineering and Engineering of Financial Regulation," MPRA Paper 34838, University Library of Munich, Germany.
  4. Sebastjan Strasek & Timotej Jagric & Natasa Spes, 2007. "Emerging Economies Crises: Lessons from the 1990’," Managing Global Transitions, University of Primorska, Faculty of Management Koper, University of Primorska, Faculty of Management Koper, vol. 5(3), pages 289-304.

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