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The Asian financial crisis: How long will the downturn last?

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  • Arthur Grimes

Abstract

This paper analyses the likely length of the economic downturn currently being experienced in many Asian countries following their financial crises. Past international experience following financial crises is examined, and data is marshalled to demonstrate the severity of the “credit crunch” being experienced in a number of “tiger” economies. This evidence, coupled with the high profile banking problems in a number of these countries, leads to the conclusion that most of the affected countries will not experience a significant rebound in growth for some considerable time.

Suggested Citation

  • Arthur Grimes, 1998. "The Asian financial crisis: How long will the downturn last?," New Zealand Economic Papers, Taylor & Francis Journals, vol. 32(2), pages 215-224.
    • Handle: RePEc:taf:nzecpp:v:32:y:1998:i:2:p:215-224
    DOI: 10.1080/00779959809544290
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    Cited by:

    1. Iris Claus & Arthur Grimes, 2003. "Asymmetric Information, Financial Intermediation and the Monetary Transmission Mechanism: A Critical Review," Treasury Working Paper Series 03/19, New Zealand Treasury.
    2. Arthur Grimes, 1998. "Liberalisation of financial markets in New Zealand," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 61, December.
    3. Grimes, Arthur, 2001. "Apec competition principles: application to financial services," Japan and the World Economy, Elsevier, vol. 13(2), pages 95-111, April.

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