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Managing Financial Crises; The Experience in East Asia
Lane, Timothy D.; Hamann, A. Javier; Schulze-Gattas, … - International Monetary Fund (IMF) - 2000
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
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Risk Sharing and Financial Contagion in Asia; An Asset Price Perspective
Rungcharoenkitkul, Phurichai - International Monetary Fund (IMF) - 2011
This paper assesses financial integration in Asia in terms of risk-sharing benefit versus financial-contagion cost. We … discount factors. Risk sharing is low in Asia, and varies across time and countries, whereas contagion risks are more … differentials. Asia, therefore, can potentially enhance risk sharing without raising contagion risk. …
Persistent link: https://www.econbiz.de/10009369441
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Two Approaches to Resolving Nonperforming Assets During Financial Crises
Woo, D. - International Monetary Fund (IMF) - 2000
The unprecedented rise in nonperforming assets during the recent Asian financial crisis severely tested the limit and capacity of the existing asset management infrastructure, leading policymakers to consider new approaches to resolve them. This paper examines two such approaches—the creation...
Persistent link: https://www.econbiz.de/10005826132
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Did Output Recover From the Asian Crisis?
Cerra, Valerie; Saxena, Sweta Chaman - International Monetary Fund (IMF) - 2003
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
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Explaining ASEAN-3’s Investment Puzzle A Tale of Two Sectors
Zhou, Yong Sarah - International Monetary Fund (IMF) - 2013
The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic …
Persistent link: https://www.econbiz.de/10011142140
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What Drives Contagion; Trade Neighborhood, or Financial Links?
Valdés, Rodrigo O.; Hernández, Leonardo - International Monetary Fund (IMF) - 2001
This paper presents evidence on the relative importance of alternative contagion channels during the Thai, Russian, and Brazilian crises. Results show that when crises are measured by changes in sovereign bond spreads, financial competition seems to explain almost all contagion episodes....
Persistent link: https://www.econbiz.de/10005605301
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The domestic credit supply response to international bank deleveraging : is Asia different?
Aiyar, Shekhar; Jain Chandra, Sonali - 2012
examines the impact of that deleveraging on credit supply in recipient economies, with a particular focus on Asia …
Persistent link: https://www.econbiz.de/10009659761
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The effectiveness of monetary policy transmission under capital inflows : evidence from Asia
Jain Chandra, Sonali; Unsal, D. Filiz - 2012
paper is to assess whether this is true for emerging Asia's economies. Using a dynamic factor model and a structural vector … auto-regression model, we show that long-term interest rates in Asia are indeed predominantly driven by global factors …
Persistent link: https://www.econbiz.de/10009679028
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The evolution of Asian financial linkages : key determinants and the role of policy
Elekdaǧ, Selim Ali; Phurichai Rungcharoenkitkul; Wu, Yiqun - 2012
determinants, which include trade and financial linkages, as well as policies. In line with Asia's growing role in the global …
Persistent link: https://www.econbiz.de/10009679040
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Financial integration and rebalancing in Asia
Pongsaparn, Runchana; Unteroberdoerster, Olaf - 2011
The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by …
Persistent link: https://www.econbiz.de/10009422788