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Emerging Asia: two paths through the storm

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  • Galina Hale
  • Alec Kennedy

Abstract

The overall effect of the global financial crisis on emerging Asia was limited and short-lived. However, the crisis affected some countries in the region more than others. Two main crisis transmission channels, exposure to U.S. financial markets and reliance on manufacturing exports, determined how severely countries in the region were affected. Countries that were relatively less connected to global financial markets and relied less on trade fared better and recovered more quickly than countries that were more dependent on global financial and trade markets.

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File URL: http://www.frbsf.org/publications/economics/letter/2012/el2012-09.html
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File URL: http://www.frbsf.org/publications/economics/letter/2012/el2012-09.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of San Francisco in its journal FRBSF Economic Letter.

Volume (Year): (2012)
Issue (Month): mar26 ()
Pages:

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Handle: RePEc:fip:fedfel:y:2012:i:mar26:n:2012-09

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Keywords: Financial crises - Asia;

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  1. Gaston Gelos & Robert Rennhack & James P Walsh & Pelin Berkmen, 2009. "The Global Financial Crisis," IMF Working Papers 09/280, International Monetary Fund.
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