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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/10014404003
This paper evaluates monetary policy and its relationship with the exchange rate in five Asian crisis countries. The findings are compared with previous currency crises in recent history. The paper finds no evidence of overly tight monetary policy in the Asian crisis countries in 1997 and early...
Persistent link: https://www.econbiz.de/10014401509
Persistent link: https://www.econbiz.de/10010389478
estimates potential growth for China, India, and five ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand, and … Vietnam) during 1993–2013. The main findings include: (i) both China and India have recently exhibited a slowdown in potential …;(iii) over the longer term, demographic factors will be much more supportive in India and some ASEAN economies than in China …
Persistent link: https://www.econbiz.de/10014394381
deflator yields the greatest evidence of “stationarity.” The study find’s that the Malaysian, Philippines, and Thai currencies …
Persistent link: https://www.econbiz.de/10014401020
aftermath of the Asian crisis. The results suggest that movements in the Asia-5 currencies (Indonesia, Korea, Malaysia …, Philippines, and Thailand) were significantly influenced by the U.S. dollar''s day-to-day movements before the crisis, and have … common trait across various regimes. Moreover, results from the post-crisis data do not support the view that the Asia-5 …
Persistent link: https://www.econbiz.de/10014403621
This paper estimates empirically the changing degree of capital mobility in several Pacific Basin countries that have pursued financial liberalization in recent years. Tracing the impact of the liberalization process on the capital account, the paper also examines the implications for monetary...
Persistent link: https://www.econbiz.de/10014398038
Following the 1997-98 financial turmoil, crisis countries in Asia moved toward either floating or fixed exchange rate … evidence and concludes that, except for Malaysia, which adopted a hard peg and imposed capital controls, the other crisis …
Persistent link: https://www.econbiz.de/10014399947
This paper investigates the long-run pattern of private saving in Indonesia, Malaysia, Singapore, and Thailand. These … each country, except for Indonesia where the effects of demographics have been even more pronounced …
Persistent link: https://www.econbiz.de/10014398225
This paper assesses the effect of constrained trade finance on trade flows in countries undergoing financial and balance of payments crises. Most of the countries that had a major crisis had a significant trade contraction, while trade-related finance declined sharply. However, trade may also be...
Persistent link: https://www.econbiz.de/10014404046