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The Asian Crisis: an Alternative View

  • Kumar, R.
  • Debroy, B.
Registered author(s):

    The paper argues that the macro focus of the literature on the Asian crises is not helpful in understanding the causes of the crises. The actual causes lie deeper in the operation of the real, that is, the corporate sector. In this context, the paper analyzes the micro behavior of individual firms.

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    Paper provided by Asian Development Bank in its series Papers with number 59.

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    Length: 35 pages
    Date of creation: 1999
    Date of revision:
    Handle: RePEc:fth:asdbed:59
    Contact details of provider: Postal: Asian Development Bank, Economics and Development Resource Center. P.O. Box 789 Manila Philippines.
    Fax: (63-2) 636-2648
    Web page: http://www.adb.org/Email:


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    1. Maurice Obstfeld, 2000. "The Global Capital Market: Benefactor or Menace?," International Finance 0004001, EconWPA.
    2. Steven Radelet & Jeffrey D. Sachs, 1998. "The East Asian Financial Crisis: Diagnosis, Remedies, Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 1-90.
    3. Carmen Reinhart & Mohsin S. Khan, 1995. "Capital Flows in the APEC Region," IMF Occasional Papers 122, International Monetary Fund.
    4. Diaz-Alejandro, Carlos, 1985. "Good-bye financial repression, hello financial crash," Journal of Development Economics, Elsevier, vol. 19(1-2), pages 1-24.
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