The Asian Financial Crisis: Causes, Contagion and Consequences: 2 (Global Economic Institutions, Series Number 2) - Hardcover

Hardcover

ISBN 10: 0521770807 ISBN 13: 9780521770804

Publisher: Cambridge University Press, 1999

Synopsis

Presents the first theoretical analysis of the Asian financial crisis and draws out the general lessons of an event whose potential long term effects have been likened to those of the Crash of 1929. Part I presents a factual and analytic overview of what happened: the role of 'vulnerability'; the interconnection between currency crises and financial crises; and why crisis turned into collapse. Part II considers more detailed issues, including how the inflation of non-traded goods prices created vulnerability, welfare-reducing capital inflow owing to under-regulated financial markets, and the onset of speculative attacks. Part III assesses all aspects of contagion, in particular the role of geographic proximity. The final section addresses policy issues. Joseph Stiglitz argues that there is much that can be done to reduce the frequency of crises and to mitigate the severity of crises when they happen. The book finishes with a round-table discussion of policy issues.

About this title

Book Description:

The first theoretical analysis of the Asian financial crisis. It starts by presenting a factual and analytic overview of what happened, goes on to consider: why crisis turned into collapse, the onset of speculative attacks, contagion, and finishes with a round table discussion of policy issues.

About this edition

• Publisher: Cambridge University Press
• Publication date: 1999
• ISBN 10: 0521770807
• ISBN 13: 9780521770804
• Binding: Hardcover
• Number of pages: 448
• Editor: Agénor Pierre-Richard, Miller Marcus, Vines David, Weber Axel