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Responses to the Crisis: Constraints to Rapid Trade Adjustment in East Asia’s Electronics Industry

In: Financial Liberalization and the Asian Crisis

Author

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  • Dieter Ernst

Abstract

The initial triggers of the Asian Crisis that resulted from an exposure to global financial markets are now well understood: research highlights endogenous failures of international capital markets1 and domestic policy failures, especially for financial regulation.2 It is time to move on to an analysis of possible responses. Elsewhere, I have analysed how the Crisis has reshaped the region’s longer-term industrial upgrading options (Ernst, 1998b, 2001d). In this paper, I focus on short-term responses and discuss a puzzle related to rapid trade adjustment.3

Suggested Citation

  • Dieter Ernst, 2001. "Responses to the Crisis: Constraints to Rapid Trade Adjustment in East Asia’s Electronics Industry," Palgrave Macmillan Books, in: Ha-Joon Chang & Gabriel Palma & D. Hugh Whittaker (ed.), Financial Liberalization and the Asian Crisis, chapter 12, pages 190-214, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51862-9_12
    DOI: 10.1057/9780230518629_12
    as

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