Crisis and conspiracy
Article Abstract:
Some analysts believe that US financial, and possibly political, institutions conspired to cause the Asian economic crisis. The conspiracy theorists believe that financial institutions engineered the crisis to create financial opportunities, or that politicians engineered the crisis to create opportunities for social and economic reforms in Asia. Reasons for the implausibility of the theories include the fact that financial market players operate competitively rather than collusively, and that governments cannot manipulate economically self-interested investors.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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Free those exchange rates
Article Abstract:
Controls on portfolio inflows imposed by the governments of Asia's emerging markets generally are less efficient than currency liberalization, and have more negative side-effects. Most want low exchange rates to bolster the overseas sale of goods competitive only on price, but when exchange rates are free to rise in response to investment inflows, rising rates appropriately push the economy to find new strengths. They would also depress excessive capital inflows and permit better control of monetary policy.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Hard money made easy
Article Abstract:
The collapse of the European Monetary System (EMS) is mainly due to the lack of a stable foundation for exchange rates. Fluctuations in exchange rates distort the information prices provide to regulate trade flows. Financial authorities need to develop hard currencies which represent the real relative value of products and services rather than the arbitrary financial policies of governments.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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