The Asian Crisis: Causes and Consequences
This paper reviews the explanations and the consequences of the Asian crisis. Two major competing explanations are identified. These place the roots of the crisis either in the affected economies or within the international capital market. We locate these explanations within alternative paradigms ab...
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| Veröffentlicht in: | Manchester school of economic and social studies 1999, Vol.67 (5), p.496-523 |
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| creator | Nixson, Frederick I. Walters, Bernard |
| description | This paper reviews the explanations and the consequences of the Asian crisis. Two major competing explanations are identified. These place the roots of the crisis either in the affected economies or within the international capital market. We locate these explanations within alternative paradigms about the effectiveness of market coordination. The consequences of the crisis are discussed in terms of the impact on unemployment and poverty, growth and trade. The role of the International Monetary Fund is also considered and its evaluation is shown to depend on which model of explanation is thought most plausible. A number of concluding comments complete the discussion. |
| doi_str_mv | 10.1111/1467-9957.00171 |
| format | Article |
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| ispartof | Manchester school of economic and social studies, 1999, Vol.67 (5), p.496-523 |
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| source | Wiley-Blackwell Journals; RePEc; Business Source® Complete; Periodicals Index Online |
| subjects | Asia Capital markets Currency devaluation Economic crisis Economic growth Economic models Economic recovery Economic theory Financial crisis IMF International trade Poverty Recessions Studies Trade Unemployment |
| title | The Asian Crisis: Causes and Consequences |
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