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Unchained Melody: East Asia in Performance

Author

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  • Edsel L. Beja

Abstract

Indonesia, Malaysia, South Korea, and Thailand continue to perform unsatisfactorily today, ten years after 1997 Asian Crisis. As of 2007, these crisis-affected economies have not fully recouped their losses from the lost opportunities from the Crisis. Unless economic performances return to past trends, another type of economic miracle story may be needed to reclaim their past economic standings. Unless GDP per capita expands faster than present trends, they will continue to face the costs of the lost opportunities. A positive combination of policies is needed: taking up the useful components of the past arrangements and putting in the missing instruments for sound macroeconomic management and international cooperation.

Suggested Citation

  • Edsel L. Beja, 2007. "Unchained Melody: East Asia in Performance," Working Papers wp139, Political Economy Research Institute, University of Massachusetts at Amherst.
  • Handle: RePEc:uma:periwp:wp139
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    File URL: https://www.peri.umass.edu/fileadmin/pdf/working_papers/working_papers_101-150/WP139.pdf
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    References listed on IDEAS

    as
    1. Valerie Cerra & Sweta Chaman Saxena, 2005. "Did Output Recover from the Asian Crisis?," IMF Staff Papers, Palgrave Macmillan, vol. 52(1), pages 1-23, April.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Post-Asian Crisis Performance; Indonesia; Malaysia; South Korea; Thailand;

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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