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Philippines

In: Trauma to Triumph Rising from the Ashes of the Asian Financial Crisis

Author

Listed:
  • Hoe Ee Khor
  • Diwa C. Guinigundo
  • Masahiro Kawai

Abstract

The Philippines was less affected by the Asian financial crisis (AFC) than other regional economies. A seemingly paradoxical reason cited for this, as observed by Roberto F. de Ocampo, was that it was viewed as the "laggard economy of Southeast Asia." However, the economy was also relatively more resilient to the ensuing contagion from the AFC because of reforms and policies pursued earlier. The AFC in turn was the impetus for further reforms to strengthen its economy and financial system when conditions had settled.

Suggested Citation

  • Hoe Ee Khor & Diwa C. Guinigundo & Masahiro Kawai, 2022. "Philippines," World Scientific Book Chapters, in: Hoe Ee Khor & Diwa C Guinigundo & Masahiro Kawai (ed.), Trauma to Triumph Rising from the Ashes of the Asian Financial Crisis, chapter 7, pages 127-137, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811253560_0007
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    More about this item

    Keywords

    ASEAN+3; Asian Financial Crisis; Global Financial Crisis;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F3 - International Economics - - International Finance

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