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Asian Currency Crisis (asian + currency_crisis)
Selected AbstractsAsian Currency Crisis and the International Monetary Fund, 10 Years Later: Overview*ASIAN ECONOMIC POLICY REVIEW, Issue 1 2007Takatoshi ITO This paper is an overview of the Asian currency crisis in Thailand, Indonesia, and South Korea in 1997,1998, with an emphasis on the role of the International Monetary Fund (IMF). It provides a detailed account of the development of the crisis and analyses and evaluates the content of IMF advice and its consequences. The size of the IMF package for each of these three countries is judged to have been too small. This paper also has a comparative perspective; the Mexican crisis is reviewed as a precursor to the Asian crisis to see what the IMF learned, and how it prepared, for future crises. The causes of the crises and IMF conditionality for the post-Asian crisis countries, Russia, Brazil, Turkey, and Argentina, are also compared to the Asian crisis countries. By agreeing to maintain a fixed exchange rate, for example, the IMF is judged to have been "softer" in its approach to the post-Asian crisis countries. [source] Comment on "Asian Currency Crisis and the International Monetary Fund, 10 Years Later: Overview"ASIAN ECONOMIC POLICY REVIEW, Issue 1 2007Mohamed ARIFF [source] International Capital Mobility in the Short Run and the Long Run: A Daily Data Study for Japan, Singapore and Taiwan*ASIAN ECONOMIC JOURNAL, Issue 1 2008Han-Min Hsing F32; F41; G15 Using daily data from between 1993 and 2003, covered interest differential and cointegration tests are applied to examine short-run and long-run international capital mobility for Japan, Singapore and Taiwan, and, for comparison purposes, the UK. Despite the high short-run mobility in Japan (Singapore and Taiwan), being slightly (significantly) lower than in the UK, perfect long-run mobility exists in all three Asian economies, especially when the Asian currency crisis is excluded. Different short-run and long-run mobility implies the existence of a response lag in the financial market. As expected, although the impulse response reaches the significant long-run equilibrium level shortly after the shock in the UK, lagged responses appear in the three Asian economies, particularly in Singapore and Taiwan. [source] Asian Currency Crisis and the International Monetary Fund, 10 Years Later: Overview*ASIAN ECONOMIC POLICY REVIEW, Issue 1 2007Takatoshi ITO This paper is an overview of the Asian currency crisis in Thailand, Indonesia, and South Korea in 1997,1998, with an emphasis on the role of the International Monetary Fund (IMF). It provides a detailed account of the development of the crisis and analyses and evaluates the content of IMF advice and its consequences. The size of the IMF package for each of these three countries is judged to have been too small. This paper also has a comparative perspective; the Mexican crisis is reviewed as a precursor to the Asian crisis to see what the IMF learned, and how it prepared, for future crises. The causes of the crises and IMF conditionality for the post-Asian crisis countries, Russia, Brazil, Turkey, and Argentina, are also compared to the Asian crisis countries. By agreeing to maintain a fixed exchange rate, for example, the IMF is judged to have been "softer" in its approach to the post-Asian crisis countries. [source] | ||||||||||