IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-230-51862-9_11.html
   My bibliography  Save this book chapter

Japan’s Crisis: Evolution and Implications

In: Financial Liberalization and the Asian Crisis

Author

Listed:
  • D. Hugh Whittaker
  • Yoshitaka Kurosawa

Abstract

Japan is linked to the Asian Crisis in two principal ways. First, it is deeply involved in the economies of the crisis countries (see Table 11.1), and their crises in various ways. It has been claimed, with some justification, that Japan exported its bubble to other Asian countries following the collapse of its own bubble in 1990. From just $40 billion in early 1994, Japan’s loans to Asia surged to some $265 billion in 1996, helping tofinance current-account deficits in the run-up to the crisis. Following the baht fall on 2 July 1997, Japan played an important role in putting together the financial aid package for Thailand, but after its attempt toforge a regional Asian Monetary Fund (AMF) was squashed by the US, it was sidelined in the remaining packages.1 Instead, Japan was portrayed, again with some justification, as part of the continuing problem, unable to help the crisis countries get back on their feet, and threatening to cause further turmoil by its inability to deal with its own problems.

Suggested Citation

  • D. Hugh Whittaker & Yoshitaka Kurosawa, 2001. "Japan’s Crisis: Evolution and Implications," Palgrave Macmillan Books, in: Ha-Joon Chang & Gabriel Palma & D. Hugh Whittaker (ed.), Financial Liberalization and the Asian Crisis, chapter 11, pages 175-189, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51862-9_11
    DOI: 10.1057/9780230518629_11
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-0-230-51862-9_11. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.