Advanced Search
MyIDEAS: Login

South –East Asian Crisis- An Important Lesson for the Global Economy


Author Info

  • Prerna Jain
  • Pragati Jain
Registered author(s):


    Crises are an intrinsic feature of the market–oriented credit and financial system. Business cycles showing periods of boom and bust will continue to occur, only the intensity shall matter. An unprecedented crisis that erupted in five Asian economies: Indonesia, Malaysia, the Phillipines, the Republic of Korea and Thailand, in mid 1997-1998 raised concern about the stability of the “Global Financial Architecture.” The clear evidence emerged of a rapid and unsustainable buildup of investment in fixed assets financed by excessive borrowing. This investment-spending spree resulted in poor profitability, reflected in low and declining returns on equity and on capital employed. The severity of the crisis in the Asian region was so great that some other countries in the world – Brazil and Russia, in particular also got affected by the contagion.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL:
    Download Restriction: Only to subscribers

    File URL:
    Download Restriction: Not freely downloadable

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Research Centre for Social Sciences,Mumbai, India in its journal Journal of Global Economy.

    Volume (Year): 5 (2009)
    Issue (Month): 1 (March)
    Pages: 25-36

    as in new window
    Handle: RePEc:jge:journl:513

    Contact details of provider:
    Web page:

    Order Information:

    Related research

    Keywords: Indian Economy; South east Asia; market crisis;

    Find related papers by JEL classification:


    No references listed on IDEAS
    You can help add them by filling out this form.



    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:jge:journl:513. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dr J K Sachdeva).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.