Fragility that periodically erupts into a full-blown financial crisis appears to be an integral feature of market … perfectly stable financial systems are normally flawed, even if the source of the next crisis remains well concealed to the … expert eye. Although it is impossible to forecast a financial crisis with a high degree of accuracy and certainty, earlier …

The global economic crisis in 2008-2009 had varying impacts on economies in Asia and the Pacific. This paper studies … the impacts of the global crisis, with emphasis on the labor market, on three Asian countries: Republic of Korea (Korea …), Philippines, and Thailand. It develops a crisis index that measures the impacts of the crisis by comparing actual values of …