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of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … more financially integrated than other regions. Asia, more interestingly, already seems to have made more progress on this … front than Latin America and other parts of the world. The contrast with Latin America is largely explained by stronger …
Persistent link: https://www.econbiz.de/10005769016
Persistent link: https://www.econbiz.de/10005769361
After the large exchange rate depreciations following the 1997 East Asian crisis, export volumes from East Asian countries responded with a notable lag. Two main explanations for this lag have been proposed: that the policy of high interest rates limited access to domestic credit and hence...
Persistent link: https://www.econbiz.de/10005599452
A model of the domestic financial intermediation of foreign capital inflows based on agency costs is developed for studying financial crises in emerging markets. In equilibrium, the banking system becomes progressively more fragile under imperfect prudential regulation and public sector loan...
Persistent link: https://www.econbiz.de/10005599585
This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...
Persistent link: https://www.econbiz.de/10005604941
Persistent link: https://www.econbiz.de/10005605521
countries are addressing and anticipating the challenges of an aging society. It suggests that Asia's preparedness for an aging …
Persistent link: https://www.econbiz.de/10005248253
time, the major recipients have changed: while the share of aid to Asia has diminished since the 1980s, that destined for …
Persistent link: https://www.econbiz.de/10005263710
The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management...
Persistent link: https://www.econbiz.de/10005263845
Abstract What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can reverse gains in development and jeopardize the well-being of...
Persistent link: https://www.econbiz.de/10010959476