contributed more to monetary cooperation in Asia than emphasis on export promotion …

This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The … currency crisis episodes. However, the degree of initial contraction and following recovery has been far greater in East Asia … than what the cross-country evidence predicts. This paper argues that the sharper adjustment pattern in East Asia is …

factors to the role of capital flows in the currency crises in different countries, especially Thailand, Indonesia, and Korea …This paper characterizes the capital flows in Asia before and after the Asian currency crisis of 1997. Differences in …

Malaysia recovered from the Asian financial crisis swiftly after the imposition of capital controls in September 1998 …. The fact that Korea and Thailand recovered in parallel has been interpreted as suggesting that capital controls did not … play a significant role in facilitating Malaysia's rebound. However, the financial crisis was deepening in Malaysia in the …

using a natural experiment in India as well as data from China, Indonesia, the Philippines, South Africa, and Kenya …

Past government spending in Japan is currently imposing a significant fiscal burden that is reflected in a net debt to …