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| | Factsheet - The IMF's Response to the Asian Crisis |
 | | Although private sector expenditure and financing decisions led to the crisis, it was made worse by governance issues, notably government involvement in the private sector and lack of transparency in corporate and fiscal accounting and the provision of financial and economic data. | | | Transparency is being increased, both as regards economic (on external reserves and liabilities in particular) and fiscal data, and in the financial and corporate sectors. | | | The financial crisis that erupted in Asia in mid-1997 led to sharp declines in the currencies, stock markets, and other asset prices of a number of Asian countries (Figure 1); threatened these countries' financial systems; and disrupted their real economies, with large contractions in activity that created a human crisis alongside the financial one. |
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http://www.imf.org/External/np/exr/facts/asia.HTM
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| | FDIC: New York Regional Outlook, Third Quarter 1998: In Focus, The Asian Economic Crisis |
| | The economic crisis in Asia is now more than one year old, yet the consequences of the unprecedented slide in currency values are still reverberating throughout the global economy. | | | For these reasons, the impact of the crisis on corporate profits must be viewed in the context of gains and losses caused by changing relative prices of a firm's products and inputs. | | | Although most economists are not anticipating a recession in the United States in the foreseeable future, the indirect impact of the Asian crisis will be felt to some extent across most regions of the country. |
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http://www.fdic.gov/bank/analytical/regional/ro19983q/ny/infocus1.html
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| | Asian financial crisis -- Facts, Info, and Encyclopedia article |
| | Although the rupiah crisis began in July and August, it intensified in November when the effects of that summer devaluation showed up on corporate balance sheets. | | | The crisis led to a drop in consumer and spending (A feeling of trust (in someone or something)) confidence. | | | In October 1997, the (The basic unit of money in Hong Kong) Hong Kong dollar, which was pegged at 7.8 to the US dollar, came under speculative pressure since Hong Kong's inflation rate was significantly higher than that of the US for years. |
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http://www.absoluteastronomy.com/encyclopedia/a/as/asian_financial_crisis.htm
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| | washingtonpost.com: Understanding the Asian Economic Crisis |
| | Last week, the government proposed yet another economic reform package that included a tax cut designed to spur consumer spending and a modest start at closing insolvent banks while relieving others of their bad debts. | | | The basic story of the Asian bubble economics varied only slightly from country to country: Foreign investment -- lured by high returns, stable government and currencies pegged tightly to the dollar -- began pouring in during the early '80s. | | | Already corporations and homeowners are rushing to refinance their debt, freeing up cash that could spur the economy through increased consumer spending and capital investment. |
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http://www.washingtonpost.com/wp-srv/business/longterm/asiaecon/stories/asiaecon118.htm
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| | Human Dimensions of the Asian Economic Crisis by Peter S. Heller |
| | Such an economic environment facilitates a lowering of unemployment; higher incomes; avoidance of the inequities caused by high inflation; and the provision of the additional budgetary resources needed to finance social investments and social insurance schemes. | | | What was novel about this crisis was that its underlying roots lay not so much in the underlying macroeconomic policies, but in the structural weaknesses in the financial and corporate sectors. | | | The most fundamental concern of the IMF, both at the inception of the Asian crisis and since, was to develop a macroeconomic and structural policy package in each country appropriate for restoring quickly macroeconomic stability--containing inflation; fostering expectations of a stable exchange rate; and restoring sustainable growth. |
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http://www.imf.org/external/np/speeches/1999/012199.HTM
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| | Valore International Finance - Asian Economic Crisis |
| | Most Asian economies have relatively thin currency markets, meaning that the volume of transactions involving their currency is small in comparison to the total market. | | | The respective Asian governments have within their mandate the ability to shift their reliance on international trade and investment, towards local development and regional economic integration. | | | Great faith has been placed on the ability of governments in the region to implement policies imposed by the international institutions which are coming to their assistance. |
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http://www.florin.com/valore/v6
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| | [No title] |
| | On the eve of crisis all of the governments were more or less in fiscal balance; nor were they engaged in irresponsible credit creation or runaway monetary expansion. | | | The reason that traditional measures of vulnerability did not signal a crisis is that the problem was off the government's balance sheet: the underlying policy mistake was, like the guarantees that created the SandL fiasco, not part of the government's visible liabilities until after the fact. | | | Indeed, to a first approximation currencies and exchange rates may have had little to do with it: the Asian story is really about a bubble in and subsequent collapse of asset values in general, with the currency crises more a symptom than a cause of this underlying real (in both senses of the word) malady. |
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http://web.mit.edu/krugman/www/DISINTER.html
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| | Asia Times: Asian economic crisis a warning to rich nations |
| | The crisis - which, from Thailand and Indonesia spread to South Korea, Philippines, and to a lesser extent Malaysia and Singapore - moved the International Monetary Fund (IMF) to provide bailout packages to the affected nations. | | | In November 1998, as the crisis hit Latin America, the IMF provided 41.5 billion dollars in financial bailouts for Brazil. | | | Guyanese Foreign Minister Clement Rohee told delegates that past experience had shown that globalisation and liberalisation cannot be relied upon for safe passage into the global economy. |
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http://www.atimes.com/asia-crisis/AA15Db01.html
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| | [No title] |
| | Malaysia's economic woes are less severe than either Indonesia or Thailand, and the government has won praise from the World Bank and IMF for economic reforms already set in motion. | | | Another likely negative consequence of the economic crisis in Thailand is the increase in prostitution, including child prostitution, and bonded labor. | | | When markets over-react way beyond what is warranted by economic fundamentals, as has happened recently in financial markets in Asia, they dash hopes and inflict economic suffering on innocent workers and their families. |
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http://www.hrw.org/reports98/asialbr
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| | Asian economic crisis |
| | Asian countries artificially lowered their interest rates, thus encouraging businesses in the higher stages of production to expand their investments beyond the point justified by the real supply of capital goods. | | | The cure for the crisis: the market should be allowed to liquidate the malinvestments; a sound monetary policy must be adopted; favouritism, subsidies, privileges and monopoly grants should be abolished and tariffs should be eliminated. | | | Without a doubt, the depth and suddenness of the economic crisis that swept through the Asian economies took most economists and investment advisers by complete surprise. |
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http://www.brookesnews.com/042709asiancrisis.html
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| | Asian Economic Crisis: Women Struck Twice Over |
| | Poor housewives who, in their numbers, have kept balanced budgets; used earnings, savings and credits to benefit their families; helped keep their land productive; manufactured commodities of immediate social value; and worked to ensure the health, training, and education of their children. | | | Thereafter, governments should have the capacity to direct these investments toward economic arenas that create real value for the poor. | | | Local banks must be made to adhere to prudent standards of operations. |
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http://www.isiswomen.org/pub/crisis/eco00002.html
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| | ASIAN ECONOMIC CRISIS |
| | I am for investment, finance, trade, and economic policies that protect and promote sustainable, and stable economic development and growth within and between all countries, to the mutual benefit of all peoples in every country worldwide. | | | We should also reduce, to every extent possible, our dependence on transnational corporations for our economic viability because their policies and practices are predicated on advancing their own selfish interests and will eventually destroy the general homeland economies of countries. | | | Existing global agreements violate all the laws of equity of economic opportunity and mutual broad based worldwide "human economic unit" prosperity. |
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http://www.udarrell.com/asianeconomiccrisis.html
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| | Asian Economic Crisis |
| | After all, the crisis reflected the vulnerability in financial panic due to the immature and hence overheated domestic financial sectors with inadequate professional expertise in an open market system. | | | Trade deficit could be economically justified as long as there were equivalent worth of profittable investments. | | | Their precipitous exit in 1997 contributed to the subsequent collapse of these currencies and asset prices as well as escalation of debt burdens. |
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http://www.mtholyoke.edu/~azinoo/document/corporate
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| | Asian Economic Crisis: Trading the Future |
| | Already, the economic turmoil has forced the governments of Malaysia, Thailand, Indonesia, and the Philippines, as well as private investors, to drop or shelve or jettison some of their multi-billion dollar mega-projects. | | | More than 15 months after their currencies devalued in 1997, East and Southeast Asian governments are still searching for solutions to beat the economic crisis. | | | Elsewhere in the world, governments are likewise opening up their economies to lure foreign investments. |
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http://www.isiswomen.org/pub/crisis/eco00001.html
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| | Reason: Is the Asian flu fatal? - Asian economic crisis - Cover Story |
| | Brink Lindsey: I see the Asian crisis here as the harmonic convergence of three sets of bad policies that have all come together and come to a head. | | | Even though these national economies are fundamentally sound, this withdrawal causes a liquidity crisis as banks become unable to pay depositors; unless a third party such as the IMF steps up to provide needed cash ("liquidity"), the system can collapse. | | | As with the bank runs that took place in the United States during the Great Depression, if a country defaults on its commercial loans, investors may panic and pull their money from other countries in the region. |
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http://www.findarticles.com/p/articles/mi_m1568/is_n1_v30/ai_20529213
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| | Asian Economic Crisis: Points of View |
| | The East Asia Crisis and the Role of the World Bank Statement to the Bretton Woods Committee, by Sven Sandstrøm, Managing Director, The World Bank, Washington, D.C., February 13, 1998. | | | News Releases, particularly, NR98-03: Extending Help in the Asian Currency Crisis -- Summary of JEXIM Operations during Fiscal 1997 --. | | | Lessons from the Asian Currency Crises -Risks Related to Short-Term Capital Movement and the "21st Century-Type" Currency Crisis-, May 19, 1998 |
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http://russia.shaps.hawaii.edu/economic/asian-crisis.html
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| | Secondary Product Exports Impacted by Asian Economic Crisis |
| | However, export revenues are declining with the Asian economic crisis. | | | However, the impact of the Asian economic crisis on PNW secondary wood product exports is becoming increasingly apparent. | | | The result of the shrinking Asian market has been a shift in destinations for US wood products. |
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http://www.cintrafor.org/RESEARCH_TAB/links/Fs/FS28.htm
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| | One Year Later, Asian Economic Crisis Is Worsening - Social and Economic Policy - Global Policy Forum |
| | Rubin told Congress that a reignition of systemic, global economic trouble was "a low-probability event." But within a month, the eruption of Japan's banking crisis sent the yen plunging again, and that undercut other currencies througout East Asia. | | | When the monetary fund devised a $43 billion bailout plan for Indonesia in October, American officials and the fund described it as deliberate overkill. | | | For example, the Treasury and private economists said last summer that they expected that the problems confronting Thailand would follow the Mexico pattern. |
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http://www.globalpolicy.org/socecon/bwi-wto/imf/0706worsening.htm
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| | Asian Economic Crisis |
| | Chronology of the Asian Currency Crisis and its Global Contagion | | | Deputy Assistant Secretary of the Treasury for International Monetary and Financial Policy, USIA, Economic Perspectives, Vol. | | | The World Bank Group, Global Economic Prospects and the Developing Countries, 1998 |
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http://www.mtholyoke.edu/acad/intrel/asiacris.htm
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| | Asia Society: Publications - The Asian Economic Crisis |
| | Lim is the founder and editor of the refereed Journal of Asian Business, and has consulted for U.S. companies, private think tanks, United Nations agencies, and the Organisation for Economic Co-Operation and Development. | | | Short sections of the paper-less than one page in total length-may be quoted or cited if the author and the Asia Society are given due credit. | | | The Updates provide incisive background and analysis of newsworthy issues and events in Asia and U.S.-Asia relations for a wide audience of journalists, business executives, policymakers, scholars, and others interested in Asia. |
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http://www.asiasociety.org/publications/update_crisis.html
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| | U.S. Senator Chuck Grassley - Word On - Asian Economic Crisis |
| | A: It is important for the countries experiencing the crisis to keep their markets open to U.S. exports. | | | A: As Chairman of the International Trade Subcommittee, I am working to put together a Finance Committee hearing in early February to examine the impact of the Asian economic crisis on the U.S. trade deficit. | | | Q: How will Congress address the impact of the economic crisis in Asia? |
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http://www.senate.gov/~grassley/won/1998/wo801-19.htm
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| | TST: Asian economic crisis result of suppressed liberty |
| | Restoration of free markets, including the establishment of a sound monetary policy, has not yet been considered though those are the only real solutions. | | | Belief that an artificial boom, brought about by a "central bank" credit creation, can last forever is equivalent to finding the fountain of youth. | | | Answer is fundamental change, not status quo quick fixes |
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http://www.house.gov/paul/tst/tst98/tst052598.htm
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| | Gulf countries negatively affected by Asian economic crisis |
| | He said economic disturbances in the Asian markets in addition to reductions in petroleum prices might lead Gulf countries, especially Saudi Arabia and Kuwait, to revise plans for this year's expenditures. | | | Abdallah Al-Kowaiz, the general manager of the International Gulf Bank - said that the economies of the Arabian Gulf countries are expected to be negatively affected by the Asian economic crisis, because Asia is an important client of raw and processed petroleum as well as chemical products of the countries of the Gulf Cooperation Council. | | | Al-Kowaiz, also said that the Gulf countries will benefit from Asian crisis in foreign imports and investments. |
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http://www.arabicnews.com/ansub/Daily/Day/980310/1998031032.html
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| | BBC NEWS Business Thailand's economy grows by 6.7% |
| | The National Economic and Social Development Board, an advisory body, said booming exports and a healthier world economy led to the growth. | | | The central Bank of Thailand had earlier revised its forecast for this year's growth from 5.5-6.5% to 6.3-7.3%, on the basis of strong world growth and investor confidence. | | | Major projects like the new international airport will mean another 60 billion baht ($1.5 bn) being spent this year |
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http://news.bbc.co.uk/2/hi/business/3543945.stm
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| | Comparative Social Impacts of the Asian Economic Crisis in |
| | liberalization, with inadequate attention to problems of corporate governance and of prudential regulation, together with poor macroeconomic management, and other policy and institutional failures, are common factors underlying the problems of these four Asian economies. | | | crisis social percent indonesia thailand economic countries impacts malaysia financial sector weaknesses currency confidence extent growth short baht suffered term corresponding capital differences policy | | | 3-9 Editor: Tony Allison and Ryratana Suwanraks Comparative Social Impacts of the Asian Economic Crisis in Thailand, Indonesia, Malaysia and the Philippines: A Preliminary Report Chalongphob Sussangkarn Frank Flatters Sauwalak Kittiprapas Macroeconomic Background... |
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http://www.thaipro.com/z1022b/638_thailand.html
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| | Asian Economic Crisis Free Essay |
| | Inflation has occurred; there is a phenomenon of rising prices, not to mention forced devaluation and privatization. | | | Order a custom written essay and receive it as soon as you need it. | | | It is now in a crisis situation, where its financial standing, especially, is at a downfall. |
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http://www.findfreepapers.com/viewpaper/930.html
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| | Zzzptm Forums - Recovery of 1997 Asian Economic Crisis |
| | Not direct hit absense of large amount of short term foreign debt controlled currency, and no large scale speculation saved from 1997 crisis yet foreign gross investment decrease. | | | Improving (schowing up trust in Japan economy) yet still has high expensive yen and high national debt | | | First hit (currency, stock and property, markets were severily damaged yet shows signs of improving with IMF, save government policy. |
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http://www.zzzptm.com/bbs/topic.asp?TOPIC_ID=2468
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| | RGE - RGE Homepage |
| | RGE Writings: Brad Setser, Director of Global Research, Roubini Global Economics, Oct 20, 2005 | | | Testimony Before the Joint Economic Committee: “The Economic Outlook” | | | Economic Research & Data Federal Reserve Bank of Cleveland |
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http://www.stern.nyu.edu/~nroubini/asia/AsiaChronology1.html
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| | MOFA: Asian Economy |
| | Free Trade Agreement (FTA) and Economic Partnership Agreement (EPA) | | | Mission for Revitalization of Asian Economy (November 1999) | | | Japan's Assistance in the Asian Economic Crisis (October 2000) |
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http://www.mofa.go.jp/policy/economy/asia
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| | Korea's LG: The Next Samsung? |
| | Both were hit hard by the Asian economic crisis in 1997, but Samsung began a painful restructuring and expensive brand-building push that catapulted it into the ranks of global leaders. | | | Last year it sold 3 million pricey third-generation cell phones to Hutchison Whampoa (HUWHY), making it the largest supplier of 3G phones to the Hong Kong-based company, which has networks in eight Asian and European countries. | | | LG, which doubled its U.S. handset shipments to 20 million in 2004, expects its American phone sales to rise 70% more this year. |
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http://www.businessweek.com/technology/content/jan2005/tc20050113_3581_tc024.htm
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| | The Asian Crisis Home Page |
| | reference lists of papers and books on Asian growth and the crisis; a survey on endogenous growth and international trade; a survey on "Currency Crisis and Capital Control"; some statistics; | | | a manuscript with country reports, chronology, reference lists of ecoomics papers related to Asian growth and the crisis; a survey on "Currency Crisis and Capital Control"; a manuscript "The Asian Crisis: A Statistical Point of View" | | | My paper, entitled "Firm Failure and Financial Crisis: The Experience of South Korea" |
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http://faculty.washington.edu/karyiu/Asia
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| | The US & the Asian economic crisis |
| | US ______________might suffer as a result of Asia’s economic decline | | | US trade ________hurt as ________to the region suffer and ________become ______ |
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http://www.willamette.edu/~lmartinm/econ353/ch01/tsld008.htm
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| | Thailand Encyclopedia: Asian economic crisis |
| | Thailand Encyclopedia: Asian economic crisis - Search: Supporter Benefits Sign up Log in Tops Home Reviews About Questions Forums Contact Encyclopedia Countries Stats Flags Maps Plots Pies Factoid #14 If you like |
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http://www.thaipro.com/z1041b/663_thailand.html
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