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Developments in East Asia and their implications for the UK and Europe

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  • Ray Barrell
  • Nigel Pain

Abstract

The turmoil in East Asia over the last six months has led to major realignments of many currencies in the region, whilst domestic equity and property markets have collapsed. Though each of the directly affected economies had some unique problems, all shared the key factors behind the collapse, an over-rapid growth in domestic investment, declining external competitiveness and inefficient and loosely regulated financial institutions.
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  • Ray Barrell & Nigel Pain, 1998. "Developments in East Asia and their implications for the UK and Europe," National Institute Economic Review, National Institute of Economic and Social Research, vol. 163(1), pages 64-70, January.
    • Handle: RePEc:sae:niesru:v:163:y:1998:i:1:p:64-70
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