Advanced Search
MyIDEAS: Login to save this paper or follow this series

Will Bank Bailouts Bust Budgets? Fiscalization of the East Asian Financial Crisis

Contents:

Author Info

  • Rosengard, Jay

    (Harvard U)

Registered author(s):

    Abstract

    East Asia has returned to a position of relative financial stability and modest economic growth seven years since the onset of the East Asian financial crisis, but the long-range impact of the crisis is still unclear, especially regarding potential fiscal ramifications. The pre-crisis and post-crisis fiscal policies and performances of Thailand and Indonesia are examined to assess whether fiscalization of the financial crisis will in turn lead to a fiscal crisis. Thailand and Indonesia were two of the hardest hit economies during the crisis, and each had exemplary fiscal policies before the crisis. Since the crisis, both countries have maintained prudent fiscal policies, keeping budget deficits relatively small, managing debt burdens effectively, and limiting exposure to contingent liabilities. Both Thailand and Indonesia have addressed the short-term triggers of the financial crisis admirably, and continue to monitor vigilantly their external vulnerabilities. Thus, if either country now experiences a fiscal crisis, it will be the result of other factors - bank bailouts will bust budgets only if banks have to be bailed out once again due to incomplete or insufficient financial sector reform.

    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: http://ksgnotes1.harvard.edu/Research/wpaper.nsf/rwp/RWP04-012/$File/rwp04_012_rosengard.pdf
    Our checks indicate that this address may not be valid because: 404 Not Found (http://ksgnotes1.harvard.edu/Research/wpaper.nsf/rwp/RWP04-012/$File/rwp04_012_rosengard.pdf [302 Found]--> http://web.hks.harvard.edu/publications/workingpapers/Index.aspx). If this is indeed the case, please notify ()
    Download Restriction: no

    Bibliographic Info

    Paper provided by Harvard University, John F. Kennedy School of Government in its series Working Paper Series with number rwp04-012.

    as in new window
    Length:
    Date of creation: Feb 2004
    Date of revision:
    Handle: RePEc:ecl:harjfk:rwp04-012

    Contact details of provider:
    Postal: 79 JFK Street, Cambridge, MA 02138
    Fax: 617-496-2554
    Web page: http://www.ksg.harvard.edu/research/working_papers/index.htm
    More information through EDIRC

    Related research

    Keywords:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Bob Searle & Jun Ma & Stefano Piperno & Ehtisham Ahmad, 2002. "Intergovernmental Grants Systems and Management," IMF Working Papers 02/128, International Monetary Fund.
    2. Holzmann, Robert & Mac Arthur, Ian W. & Sin, Yvonne, 2000. "Pension systems in East Asia and the Pacific : challenges and opportunities," Social Protection Discussion Papers 23088, The World Bank.
    3. Peter G. Warr, 1999. "What Happened to Thailand?," The World Economy, Wiley Blackwell, vol. 22(5), pages 631-650, 07.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Aswicahyono, Haryo & Bird, Kelly & Hill, Hal, 2009. "Making Economic Policy in Weak, Democratic, Post-crisis States: An Indonesian Case Study," World Development, Elsevier, Elsevier, vol. 37(2), pages 354-370, February.

    Lists

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

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ecl:harjfk:rwp04-012. 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: ().

    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.