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The East Asian Economic Crisis: It's not All Bad News


  • Ianchovichina, Elena
  • Thomas W. Hertel
  • Robert McDougall


Choices: The Magazine of Food, Farm, and Resource Issues, Second Quarter The East Asian crisis is not all bad news for the United States and Canada (North America). Net debtors in North America – be they individual families refinancing their mortgages, businesses financing their expansion, or the U.S. government financing its debt – should benefit from the crisis, as it continues to put downward pressure on interest rates. While the crisis hurts North American farm exports, it presents opportunities for expansion in North American exports of processed foods. The study estimates that the benefits accruing to North American food producers far outweigh the losses to farmers in the region over the long term.

Suggested Citation

  • Ianchovichina, Elena & Thomas W. Hertel & Robert McDougall, 1999. "The East Asian Economic Crisis: It's not All Bad News," GTAP Working Papers 291, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
  • Handle: RePEc:gta:workpp:291
    Note: GTAP Working Paper No. 11

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    Cited by:

    1. Duncan, Ronald C. & Yang, Yongzheng, 2000. "The impact of the Asian Crisis on Australia's primary exports: why it wasn't so bad," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 44(3), September.
    2. Miljkovic, Dragan & Marsh, John M. & Brester, Gary W., 2002. "Japanese Import Demand for U.S. Beef and Pork: Effects on U.S. Red Meat Exports and Livestock Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 34(03), pages 501-512, December.
    3. Hertel, Thomas, 2013. "Global Applied General Equilibrium Analysis Using the Global Trade Analysis Project Framework," Handbook of Computable General Equilibrium Modeling, Elsevier.
    4. L. Walters & H.R. Bohlmann & M.W. Clance, 2016. "The Impact of the COMESA-EAC-SADC Tripartite Free Trade Agreement on the South African Economy," Working Papers 635, Economic Research Southern Africa.

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