Managing Economic Crisis In Southeast Asia
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| Author | : Saw Swee-Hock |
| Publisher | : Institute of Southeast Asian Studies |
| Total Pages | : 362 |
| Release | : 2011 |
| Genre | : Business & Economics |
| ISBN | : 9814311790 |
This book incorporates a selection of eight revised papers presented at the Conference on "Managing Economic Crisis in Southeast Asia", organized jointly by the Saw Centre for Financial Studies, NUS Business School and the Institute of Southeast Asian Studies, in January 2010. The chapters deal with the management of the 2008-09 economic crisis in Singapore, Malaysia, Thailand, Vietnam, the Philippines, Indonesia, and the region as a whole. They represent an analysis of the impact of the economic crisis and the stimulus packages that were swiftly put in place by the governments to mitigate the economic recession and to pave the way for a quick recovery. The success of the monetary and fiscal policy measures in engendering a strong economic recovery in these countries is also discussed in considerable depth. The book, with contributions from experts on the topics covered, will be extremely valuable to businessmen, analysts, academics, students, policy-makers and the general public interested in seeking a greater understanding of the sub-prime crisis that led to the global economic recession.
| Author | : Aris Ananta |
| Publisher | : Institute of Southeast Asian Studies |
| Total Pages | : 461 |
| Release | : 2012 |
| Genre | : Social Science |
| ISBN | : 9814311197 |
This book started with an objective to understand the impact of high inflation on poverty and food security in Southeast Asia. However, the global economy moved quickly into recession in 2008. Anticipating that the impact of global recession would be more severe than that of high inflation in Southeast Asia, we re-focused the title of the book to Poverty, Food, and Global Recession in Southeast Asia. By early 2010, people were already optimistic that the global recession was over or would be over soon. However, the evidence was mounting that the poor had suffered and were still suffering from the current global crisis, even if the richer individuals may have recovered. Therefore, an important question arises, Is the crisis really over for the poor? This then became the sub-title of this book. This book aims to contribute a better understanding on poverty and food security in Southeast Asia during the recent global recession considering both recent developments and the previous major crisis of 1997-98.
| Author | : Morris Goldstein |
| Publisher | : Peterson Institute |
| Total Pages | : 236 |
| Release | : 1998 |
| Genre | : Business & Economics |
| ISBN | : 9780881322613 |
The turmoil that has rocked Asian markets since the middle of 1997, and that is now having such deep effects on the economies in the region, is the third major currency crisis of the 1990s. This study explains how the Asian crisis arose and spread. It then outlines the corrective policy measures that could help end the crisis, and the shortcomings that have been revealed in the international financial system that require reform to reduce the chances of a recurrence.
| Author | : Wing Thye Woo |
| Publisher | : MIT Press |
| Total Pages | : 300 |
| Release | : 2000 |
| Genre | : Business & Economics |
| ISBN | : 9780262692458 |
This book analyzes the Asian financial crisis of 1997-1999. In addition to the issues of financial system restructuring, export-led recovery, crony capitalism, and competitiveness in Asian manufacturing, it examines six key Asian economies--China, Indonesia, Japan, Korea, Malaysia, and Thailand. The book makes clear that there is little particularly Asian about the Asian financial crisis. The generic character of the crisis became clear during 1998, when it reached Russia, South Africa, and Brazil. The spread of the crisis reflects the rapid arrival of global capitalism in a world economy not used to the integration of the advanced and developing countries. The book makes recommendations for reform, including the formation of regional monetary bodies, the establishment of an international bankruptcy system, the democratization of international organizations, the infusion of public money to revive the financial and corporate sectors in Pacific Asia, and stronger supervision over financial institutions. The book emphasizes a mismatch in Pacific Asia between investment in physical hardware (e.g., factories and machinery) and in social software (e.g., scientific research centers and administrative and judiciary systems). In a world of growing international competitiveness, concerns over governance will weigh increasingly heavily on unreformed Asian countries. The long-term competitiveness of Asia rests on its getting its institutions right.
| 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 | : Carl-Johan Lindgren |
| Publisher | : |
| Total Pages | : 103 |
| Release | : 1999 |
| Genre | : Business & Economics |
| ISBN | : 9781557758712 |
An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
| Author | : Martin Melecky |
| Publisher | : World Bank Publications |
| Total Pages | : 271 |
| Release | : 2021-07-15 |
| Genre | : Business & Economics |
| ISBN | : 1464816689 |
The COVID-19 crisis, which has sent economies in South Asia and around the world into a deep recession, has highlighted South Asia’s rising debt levels and sizable hidden liabilities. State-owned enterprises, state-owned commercial banks, and public-private partnerships have been at the center of the rising debt wave and the latest pandemic response. Historically,South Asia has relied on these direct public interventions more than other regions. The interventions have helped governments tackle key development challenges and rapidly deliver relief measures during crises. However, because of their inefficiencies and weak governance, the interventions are also a significant source of public indebtedness and macrofinancial risks. Hidden Debt examines the trade-off between tackling development challenges through direct state presence in the market and avoiding unsustainable debt due to economic inefficiencies of such off†“balance sheet operations, which greatly leverage public capital. The study recommends a reform agenda based on the four interrelated principles of purpose, incentives, transparency, and accountability (PITA). The reforms can mitigate the risks that off†“balance sheet operations will become the source of the next financial crisis in South Asia.
| Author | : Andrew Sheng |
| Publisher | : Cambridge University Press |
| Total Pages | : 505 |
| Release | : 2009-09-28 |
| Genre | : Business & Economics |
| ISBN | : 0521118646 |
This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the current global crisis of 2008-2009. This book shows how the Japanese zero interest rate policy to fight deflation helped create the carry trade that generated bubbles in Asia whose effects brought Asian economies down. The study's main purpose is to demonstrate that global finance is so interlinked and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated. The book explains how current financial policies and regulation failed to deal with a global bubble and makes recommendations on what must change.
| Author | : Masahiro Kawai |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 321 |
| Release | : 2012-01-01 |
| Genre | : Business & Economics |
| ISBN | : 0857933353 |
Asian economies strengthened their monetary and currency management after the Asian financial crisis of 19971998, and came through the global financial crisis of 20072009 relatively well. Nevertheless, the recent global crisis has presented new challenges. This book develops recommendations for monetary and currency policy in Asian economies aimed at promoting macroeconomic and financial stability in an environment of global economic shocks and volatile capital flows. Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called 'impossible trinity' of fixed exchange rates, open capital accounts and independent monetary policy. This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policymakers in the region as well as academics and researchers of financial and Asian economics as well as economic development.
| Author | : Asian Development Bank |
| Publisher | : |
| Total Pages | : 264 |
| Release | : 2009 |
| Genre | : Climatic changes |
| ISBN | : |
This report provides a review of the economics of climate change in the Southeast Asia, with a particular focus on Indonesia, Philippines, Singapore, Thailand, and Viet Nam. It confirms that the region is highly vulnerable to climate change and demonstrates that a wide range of adaptation measures are already being applied. The report also shows that the region has a great potential to contribute to greenhouse gas emission reduction, and that the costs to the region and globally of taking no early action against climate change could be very high. The basic policy message is that efforts must be made to apply all feasible and economically viable adaptation and mitigation measures as key elements of a sustainable development strategy for Southeast Asia. It also argues that the current global economic crisis offers Southeast Asia an opportunity to start a transition towards a climate-resilient and low-carbon economy by introducing green stimulus programs that can simultaneously shore up economies, create jobs, reduce poverty, lower carbon emissions, and prepare for the worst effects of climate change.
