The “Asian miracle” ended in the autumn of 1997 when many East Asian economies fell victim to the Asian crisis. In this study, we analyse the reasons for the crisis and its effects on the world economy. We study why market players were unable to predict the crisis and identify the main...

Against the background of the rapid integration of emerging Asia into the global economy, this paper investigates the role of domestic and external factors in driving individual emerging economies in Asia. We estimate VAR models for ten countries over the period 1979Q1- 2003Q4, controlling for...

Chapter 1 provides an overview and assessment of the price competitiveness and export performance of the euro area and the larger euro area countries, as well as an evaluation of how standard equations have been able to explain actual export developments. Chapter 2 carries out a constant market...

This paper proposes a "before-and-after" approach to empirical examination of the relationship between democracy and growth. Rather than the commonly used cross-country regression method, this paper compares the economic performances of forty countries before and after they became democracies or...

This study extends the standard currency crisis theory (especially the second-generation models) by adding and emphasizing strategic interactions of agents in anticipating currency crises.The models in this study have a fairly elaborate and extensive micro-based structure, covering the...

Against the background of the rapid integration of emerging Asia into the global economy, this paper investigates the role of domestic and external factors in driving individual emerging economies in Asia. We estimate VAR models for ten countries over the period 1979Q1-2003Q4, controlling for...