History offers lessons on extinguishing financial fires

Article Abstract:

Asian economies can learn from the mistakes made in Latin America during the financial crisis in the region in the 1980s. Correct analysis of the causes of Asia's banking, foreign debt, and currency crises is critical in addressing the problem according to Daniel Marx, Argentina's chief foreign-debt negotiator from 1989 to 1992. The International Monetary Fund has circulated a working paper containing a study of 24 banking crises since 1980 to help determine how to best alleviate a financial situation.

Public Finance Activities, Fiscal Policy, Research, International Monetary Fund, Monetary policy

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Recovery from currency trauma isn't expected until '98

Article Abstract:

Economists do not expect countries of the Asian region such as Malaysia, Thailand, and Indonesia to recover from the effects of the 1997 currency devaluation crisis until 1999. The crisis, which started with the devaluation of the Thailand baht, also adversely affected the exchange rates and interest rates of its neighbors. The Southeast Asian crisis has made regions such as Eastern Europe and Latin America more competitive in capturing a share of US and European markets.

Forecasts and trends, Thailand, Singapore, Indonesia, Malaysia, Business cycles

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