[PDF] Currency Turmoil In East Asia eBook

Author : Gerald Tan
Publisher : Cavendish Square Publishing
Page : 300 pages
File Size : 31,75 MB
Release : 2000
Category : Asia
ISBN :

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This book is a fascinating account of the financial disaster which overtook Southeast Asia in 1997. The author explains the causes, events, reactions, and effects of the Asian currency crisis. Starting with the crash of the Thai baht, Professor Tan traces the chain of events and details the economic, social and political consequences in the countries involved, plus the responses of the major economic institutions like the World Bank and IMF are described. He also includes a chapter on the Asian economic miracle in the years before the crash, and asks whether that sort of growth is sustainable anyway. The final chapters deal with the lessons to be learned and the possible paths to recovery. This book is essential reading for anyone in the fields of finance, economics, or politics, but it is also interesting and accessible to the lay reader with an interest in world economies.

Author : Abdur R. Chowdhury
Publisher :
Page : 74 pages
File Size : 36,84 MB
Release : 1999
Category : Finance
ISBN :

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What started in the summer of 1997 as a regional economic and financial crisis in East and Southeast Asia had developed into a global financial crisis within the span of a year. This crisis followed the crisis in the European Monetary System in 1992-3 and the Mexican peso crisis in 1994-5. However, unlike the previous two crises, the scale and depth of the Asian crisis surprised everyone. One obvious reason for this is East and Southeast Asia'strack record of economic success. Since the 1960s, no other group of countries in the world has produced more rapid economic growth or such a dramatic reduction in poverty. Given so many years of sustained economic performance the obvious question is: how could events in Asia unfold as they did?

Author : George Allayannis
Publisher : World Bank Publications
Page : 50 pages
File Size : 15,4 MB
Release : 2001
Category : Debts, External
ISBN :

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In a large sample of East Asian nonfinancial corporations, firms using foreign currency derivatives had distinctive characteristics, such as larger size and foreign debt exposures. Unlike in studies of U.S. firms, there was only weak evidence that liquidity-constrained firms with greater growth opportunities hedged more. Firms appeared to use foreign earnings as a substitute for hedging with derivatives, and to engage in "selective" hedging. There was no evidence that East Asian firms eliminated their foreign exchange exposure by using derivatives. And firms using derivatives before the crisis performed just as poorly as nonhedgers during the crisis.

Author : Heinz Wolfgang Arndt
Publisher : Institute of Southeast Asian Studies
Page : 198 pages
File Size : 10,75 MB
Release : 1999
Category : Business & Economics
ISBN : 9789813055896

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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?

Author : Masahiro Kawai
Publisher : World Bank Publications
Page : 60 pages
File Size : 36,26 MB
Release : 2001
Category : Banks and banking
ISBN :

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Currency and banking crises such as those originating in Mexico (1994), Thailand (1997), and the Russian Federation (1998) tend to be associated and often take place together across countries. The East Asian experience was a fruitful laboratory for examining key questions. For example: How did contagion occur so extensively, and why was it so devastating? Did policy responses to crises and contagion minimize their impact on the real economy? What type of international financial architecture is needed to prevent and manage crises and contagion?

Author : Mihir Rakshit
Publisher : Oxford University Press, USA
Page : 352 pages
File Size : 40,95 MB
Release : 2002
Category : Business & Economics
ISBN :

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These essays provide a thorough analysis of issues that surround the great economic crisis of 1997-1999. Rakshit discusses the theories and manifestations of currency crises, the unfolding of the Asian situation, macroeconomic indicators of the crisis countries, and their recovery.

Author : Suthiphand Chirathivat
Publisher : Edward Elgar Publishing
Page : 272 pages
File Size : 33,88 MB
Release : 2005-01-01
Category : Business & Economics
ISBN : 9781845423384

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Leading scholars from East Asia, Europe and the US contribute new insights to the key questions facing the organization and future of the monetary system in East Asia. Central questions discussed and analysed in the book include, amongst others: should the region move towards monetary union? Should countries peg their exchange rates to the US dollar? Is complete dollarization an option for East Asia? The authors argue that, having realized price stability over the last twenty years, in contrast to Latin America and Africa, the next logical step would be the gradual formation of various currency blocs within the region. This comprehensive discussion of the fundamental issues at stake will ensure the book's appeal to academics and researchers of Asian studies and financial economics. Financial experts working in this area and policymakers will also find much of interest to them within this book.

Author : Morris Goldstein
Publisher : Peterson Institute
Page : 236 pages
File Size : 42,58 MB
Release : 1998
Category : Business & Economics
ISBN : 9780881322613

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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 : Manuel F. Montes
Publisher : Institute of Southeast Asian Studies
Page : 135 pages
File Size : 44,74 MB
Release : 1999-02-22
Category : Business & Economics
ISBN : 9812300503

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In August 1998, the Asian currency crisis that had started in mid-1997 metastasized into a global financial crisis with the devaluation of the rouble and a declaration of a Russian Government default on its internal debt. Is this the first wave of such crises the world will see in the future? One common feature among the countries that have fallen victim to the crisis is that they were all "darlings of international finance". Before the financial crisis of 1997, international investors poured money into the stock markets of the East Asian economies, Latin America, Russia, and Eastern Europe. That the crisis afflicted the very countries that depended most heavily on the international economy for their economic growth suggests the importance of the international dimension -- this is the focus of this book. Even though, from the outside, the currency collapses looked similar, the analysis also identifies the important differences in domestic causes as it spread through the different economies.