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This paper focuses on the 1995 Latin American and 1997 East Asian crises using an insurance-based model of financial crises. First the model of Dooley (forthcoming) is described. Second, some empirical evidence for an insurance model is presented. The key variables in this approach include the...
Persistent link: https://www.econbiz.de/10012471706
The paper explores the view that the Asian currency and financial crises in 1997 and 1998 reflected structural and policy distortions in the countries of the region, even if market overreaction and herding caused the plunge of exchange rates, asset prices, and economic activity to be more severe...
Persistent link: https://www.econbiz.de/10012471977
Dual estimates of productivity growth by Chang-Tai Hsieh have raised questions about the accuracy of the East Asian national accounts, suggesting that productivity growth in the NICs, particularly Singapore, may have been substantially higher than previously estimated. This paper shows that once...
Persistent link: https://www.econbiz.de/10012472154
We examine labor market integration in east and southeast Asia (ESEA) during the 1980s, focusing on intraregional labor mobility and on the two other main channels of integration: capital mobility and trade. We find evidence that labor market integration increased sharply among ESEA countries in...
Persistent link: https://www.econbiz.de/10012473705
A systematic short-term event review of the major events in the South-East Asia Financial crisis is presented in this article. This analysis adds to the existing literature by focusing on the equity market, rather than on the foreign exchange market where there is already abundant literature, as...
Persistent link: https://www.econbiz.de/10012631757
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Persistent link: https://www.econbiz.de/10011939585
Many economies in East and Southeast Asia are progressing toward becoming aging or aged societies. The impacts of this demographic transition are multifaceted and far-reaching and include declining tax revenues, leading to fiscal imbalances, and possible increases in government expenditures for...
Persistent link: https://www.econbiz.de/10012490479
The paper proposes a two-step approach to assessing the extent to which the fall in credit in crisis-stricken East Asian countries was a supply- or demand-induced phenomenon. The first step is based on the estimation of a demand function for excess liquid assets by commercial banks. Such a...
Persistent link: https://www.econbiz.de/10012786267
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