Showing 1 - 10 of 13
This paper characterizes the capital flows in Asia before and after the Asian currency crisis of 1997. Differences in foreign direct investment, portfolio investment, and bank lending are emphasized. There are common factors and idiosyncratic factors to the role of capital flows in the currency...
Persistent link: https://www.econbiz.de/10012471660
Ethnic riots broke out in Malaysia in 1969, prompting a national effort at affirmative action favoring the poorer … (majority) of "Bumiputera" (mainly Malays). Since then, Malaysia's official poverty measures indicate one of the fastest long …
Persistent link: https://www.econbiz.de/10012479592
We use a new firm-level dataset to examine the efficiency of investment in emerging economies. In the three-year period following stock market liberalizations, the growth rate of the typical firm's capital stock exceeds its pre-liberalization mean by an average of 5.4 percentage points....
Persistent link: https://www.econbiz.de/10012466482
This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The stylized pattern from the previous 160 currency crisis episodes over the period from 1970 to 1995 shows a V-type adjustment of real GDP growth in the years prior to and...
Persistent link: https://www.econbiz.de/10012470347
In 1997-98, five east Asian countries -- Indonesia, Malaysia, South Korea, the Philippines, and Thailand -- experienced …
Persistent link: https://www.econbiz.de/10012470394
In the Asian crisis of 1997-98 some countries followed IMF prescriptions for stabilization and recovery. Malaysia went … crisis was over, as interest rates in all Asian crisis economies, including Malaysia, were already declining rapidly and as …
Persistent link: https://www.econbiz.de/10012470399
Malaysia recovered from the Asian financial crisis swiftly after the imposition of capital controls in September 1998 … play a significant role in facilitating Malaysia's rebound. However, the financial crisis was deepening in Malaysia in the …
Persistent link: https://www.econbiz.de/10012470587
, Colombia and Mexico -- and three East Asian countries--Korea, Malaysia and Thailand. It identifies a number of potential …
Persistent link: https://www.econbiz.de/10012473042
By looking at how an East Asian currency moves when the yen fluctuates sharply against the US dollar, we sometimes find that the reaction has been much more significant than would be suggested by the econometric estimates of the weight of the yen in nominal exchange rate determination. Moreover,...
Persistent link: https://www.econbiz.de/10012473118
We develop a micro-founded general equilibrium model with heterogeneous agents and three dimensions of financial inclusion: access (determined by a participation cost), depth (determined by a borrowing constraint), and intermediation efficiency (determined by a monitoring cost). We find that the...
Persistent link: https://www.econbiz.de/10012457845