Asian Exports: Principal Causes of Deceleration
This paper examines the causes for dramatic declines in (gross) exports among Asian countries in 1995-96. Common factors are the overvaluation of the exchange rate, partly due to yen depreciation in 1995-96, declines in export prices, especially for semi-conductors, and simultaneous declines in aggregate demand in the region. The possible long-term decline in the productivity in the region, a transition from high growth to moderate growth, is not likely related to this particular episode.
Year of publication: |
1999-03
|
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Authors: | Ito, Takatoshi |
Institutions: | Institute of Economic Research, Hitotsubashi University |
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