Coping With Capital Flows In East Asia
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| Author | : C. H. Kwan |
| Publisher | : Institute of Southeast Asian Studies |
| Total Pages | : 344 |
| Release | : 1998 |
| Genre | : Business & Economics |
| ISBN | : 9789812300164 |
This timely book examines how the countries of East Asia coped with the vast pool of international capital that flowed into the region during the early 1990s. East Asia appeared to be doing well. But, as this book was in preparation in 1997, a currency crisis sent capital fleeing and catapulted the East Asian economies into turmoil. Country-specific updates describe events since July 1997, how government authorities addressed the crisis, and what lessons can be learned.
| Author | : T. J. Pempel |
| Publisher | : Cornell University Press |
| Total Pages | : 280 |
| Release | : 2015-05-06 |
| Genre | : Political Science |
| ISBN | : 0801455014 |
Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008–9 and the Asian financial crisis of 1997–98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe. Much had changed across the intervening decade, not least that China rather than Japan had become the locomotive of regional growth, and that the East Asian economies had taken numerous steps to buffer their financial structures and regulatory regimes. This time Asia avoided disaster; it bounced back quickly after the initial hit and has been growing in a resilient fashion ever since. The authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession. Drawing on a mixture of single-country expertise and comparative analysis, they conclude by assessing the long-term prospects that Asian countries will continue their recent success.
| Author | : |
| Publisher | : World Bank Publications |
| Total Pages | : 480 |
| Release | : 1996-01-01 |
| Genre | : |
| ISBN | : 9780821335291 |
Analyzes the deficiencies of the budget system and recommends ways of improving fiscal management so that it meets the requirements of a decentralized market-based economy. The structural transformation of the Russian economy since 1992 has been accompanied by major changes in the countrys fiscal picture, ranging from massive reductions in government spending (through the introduction of noninflationary treasury bill financing) to fiscal decentralization. This report analyzes the deficiencies of the budget system and recommends ways of improving fiscal management so that it meets the requirements of a decentralized market-based economy. The study focuses on two crucial and interrelated features of fiscal management that determine the outcome of fiscal policy and the allocative efficiency of government resources: intergovernmental fiscal relations, and the structural, technical and institutional aspects of the budget system.
| Author | : Seiichi Masuyama |
| Publisher | : Institute of Southeast Asian Studies |
| Total Pages | : 392 |
| Release | : 1999 |
| Genre | : Business & Economics |
| ISBN | : 9789813055964 |
Financial systems in the East Asian region are commanding worldwide attention. Japan's financial sector, with an ailing banking system in the aftermath of a bubble economy, is undergoing a "Big Bang" deregulation, liberalization, and securitization. At the same time, the rehabilitation of Southeast Asian and Korean economies in the wake of the Asian financial crisis awaits restoration of their banking sectors. The region's bank-dominated and development finance-oriented financial systems are coming into friction with global capital markets that lack adequate architecture. In this volume, researchers from ten East Asian think- tanks analyse the financial systems in their respective economies. They survey the financial sector deregulation and liberalization that took place in the midst of economic booms and they evaluate the role of the financial systems in the region's current economic misfortunes. Together, the pieces in this volume lay the groundwork for understanding how financial systems in East Asia have evolved as the economies have grown more complex and capital markets have globalized, and how these systems must adapt to move beyond today's crisis to serve the region's economies in the future.
| Author | : Masahiro Kawai |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 465 |
| Release | : 2010-01-01 |
| Genre | : Business & Economics |
| ISBN | : 184980687X |
Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.
| Author | : Ian Patrick Austin |
| Publisher | : Select Publishing |
| Total Pages | : 384 |
| Release | : 2009 |
| Genre | : East Asia |
| ISBN | : 9814022535 |
| Author | : Shalendra Sharma |
| Publisher | : Manchester University Press |
| Total Pages | : 409 |
| Release | : 2018-07-30 |
| Genre | : Business & Economics |
| ISBN | : 1526137682 |
This electronic version has been made available under a Creative Commons (BY-NC-ND) open access license. The Asian financial crisis of 1997-98 shook the foundations of the global economy and what began as a localised currency crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies long considered 'miracles' respond? How did the United States, Japan and other G-7 countries respond to the crisis? What role did the IMF play?. Why did China, which suffers many of the same structural problems responsible for the crisis remain conspicuously insulated from the turmoil raging in its midst?. What explains the remarkable recovery now underway in Asia? In what fundamental ways did the Asian crisis serve as a catalyst to the current thinking about the "new international financial architecture"?. This book provides answers to all the above questions and more, and gives a comprehensive account of how the international economic order operates, examines its strengths and weaknesses, and what needs to be done to fix it.
| Author | : Shalendra Sharma |
| Publisher | : Manchester University Press |
| Total Pages | : 422 |
| Release | : 2003-10-03 |
| Genre | : Business & Economics |
| ISBN | : 9780719066030 |
The Asian financial crisis of 1997-98 shook the foundations of the global economy. What began as a localized currency crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies, long considered "miracles," respond? How did the United States, Japan and other G-7 countries react to the crisis? What role did the IMF play? Why did China remain conspicuously insulated from the turmoil raging in its midst? What lessons can be learnt from the crisis by other emerging economies? This book provides answers to all the above questions and more. It gives a comprehensive account of how the international economic order operates, examines its strengths and weaknesses, and what needs to be done to fix it. The book will be vital to students of economics, international political economy, Asian and development studies.
| Author | : Mhinder Bhopal |
| Publisher | : Routledge |
| Total Pages | : 201 |
| Release | : 2013-01-11 |
| Genre | : History |
| ISBN | : 1136343725 |
The impact of the Asia crisis has contributed to the debate about the need for regulation of global markets. This book outlines the events leading up to and during the Financial Crisis of 1997 and assesses the responses of the financial contagion.
| Author | : Heinz Wolfgang Arndt |
| Publisher | : Institute of Southeast Asian Studies |
| Total Pages | : 198 |
| Release | : 1999 |
| Genre | : Business & Economics |
| ISBN | : 9789813055896 |
Southeast Asia is suddenly in crisis, the largest country - Indonesia - deeply so. This volume, comprising a set of specially commissioned papers, examines the origins, lessons, and future path of the crisis. Why didn't economists foresee the sudden and catastrophic events of 1997-98? How can seemingly robust and vigorous economies fall so far, so swiftly? Do we, in consequence, need to change the way we view the world? Is there anything to salvage of the "East Asian miracle"? Is Southeast Asia about to experience its own version of the "lost decade", analogous to that which afflicted much of Africa and Latin America in the 1980s?
