The role of employment and work in poverty eradication and empowerment and advancement of women
Abstract The Asian economic crisis which began with the floating of the bhat by Thailand on July 1 1997 is still having devastating effects on the livelihood and the well being of millions of people in many parts of the world. The financial crisis spread from Thailand to other Asian countries, subsequently to Russia and more recently to Brazil. Fortunately, timely and decisive action by the US Federal Reserve last autumn (instituting three successive reductions in interest rates) has enabled advanced countries to escape the crisis so far. Nevertheless it is estimated by the World Bank that as a consequence of the crisis the rate of growth of world GDP is 2 percentage points lower both in 1998 and in 1999 than it would otherwise have been. A rough calculation shows that this amounts to a huge loss over these two years of $120 per capita in production or income for each man, woman and child in the world. This also suggests indirectly that hundreds of millions of people in poor countries who live on a dollar a day or less are likely to have become considerably poorer still as a result of the crisis.
|Date of creation:||01 Apr 1999|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- Agénor,Pierre-Richard & Miller,Marcus & Vines,David & Weber,Axel (ed.), 1999. "The Asian Financial Crisis," Cambridge Books, Cambridge University Press, number 9780521770804, September.
- Peter Diamond & Jonathan Gruber, 1997. "Social Security and Retirement in the U.S," NBER Working Papers 6097, National Bureau of Economic Research, Inc.
- Karen K. Lewis, 1997. "Are Countries with Official International Restrictions "Liquidity Constrained?"," NBER Working Papers 5991, National Bureau of Economic Research, Inc.
- Maurice Obstfeld, 1998.
"The Global Capital Market: Benefactor or Menace?,"
NBER Working Papers
6559, National Bureau of Economic Research, Inc.
- Maurice Obstfeld, 2000. "The Global Capital Market: Benefactor or Menace?," International Finance 0004001, EconWPA.
- Obstfeld, Maurice, 1998. "The Global Capital Market: Benefactor or Menace?," Center for International and Development Economics Research, Working Paper Series qt3kn3n2s8, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
- Maurice Obstfeld., 1998. "The Global Capital Market: Benefactor or Menace?," Center for International and Development Economics Research (CIDER) Working Papers C98-098, University of California at Berkeley.
- Lewis, Karen K, 1996. "What Can Explain the Apparent Lack of International Consumption Risk Sharing?," Journal of Political Economy, University of Chicago Press, vol. 104(2), pages 267-97, April.
- NilÃ¼fer Ã‡aÄŸatay & GÃ¼nseli Berik, 1990. "Transition to Export-Led Growth in Turkey: Is There a Feminization of Employment?," Review of Radical Political Economics, Union for Radical Political Economics, vol. 22(1), pages 115-134, March.
- Matthew J. Slaughter, 1998. "International Trade and Per Capita Income Convergence: A Difference-in-Differences Analysis," NBER Working Papers 6557, National Bureau of Economic Research, Inc.
- Steven Radelet & Jeffrey Sachs, 1998. "The Onset of the East Asian Financial Crisis," NBER Working Papers 6680, National Bureau of Economic Research, Inc.
- Standing, Guy, 1989. "Global feminization through flexible labor," World Development, Elsevier, vol. 17(7), pages 1077-1095, July.
- Dan Ben-David, 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 653-679.
- Levine, Ross, 1996.
"Financial development and economic growth : views and agenda,"
Policy Research Working Paper Series
1678, The World Bank.
- Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
- Panicos O. Demetriades & Philip Arestis, 1996.
"Financial Development and Economic Growth: Assessing the Evidence,"
Keele Department of Economics Discussion Papers (1995-2001)
96/16, Department of Economics, Keele University.
- Arestis, Philip & Demetriades, Panicos O, 1997. "Financial Development and Economic Growth: Assessing the Evidence," Economic Journal, Royal Economic Society, vol. 107(442), pages 783-99, May.
- Francisco Rodriguez & Dani Rodrik, 1999. "Trade Policy and Economic Growth: A Skeptic's Guide to Cross-National Evidence," NBER Working Papers 7081, National Bureau of Economic Research, Inc.
- Cagatay, Nilufer & Ozler, Sule, 1995. "Feminization of the labor force: The effects of long-term development and structural adjustment," World Development, Elsevier, vol. 23(11), pages 1883-1894, November.
- Lewis, Karen K., 1997. "Are countries with official international restrictions 'liquidity constrained'?," European Economic Review, Elsevier, vol. 41(6), pages 1079-1109, June.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:53561. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.