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 …

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

. The fact that Korea and Thailand recovered in parallel has been interpreted as suggesting that capital controls did not … summer of 1998, while it had significantly eased up in Korea and Thailand. We employ a time-shifted differences …