From 'miracle' to 'cronyism': explaining the Great Asian Slump

Article Abstract:

A number of different explanations have been presented for the financial crisis in Asia. In fact, it can be argued that the crisis was caused by the interaction of real and financial causes. It is clear that capital account opening made domestic financial structures vulnerable, but the International Monetary Fund and the US and UK Treasuries now claim that the Asian crisis indicates the importance of liberalizing the capital account even more. It would be misguided to state that integrating national economies even more completely into world capital markets would prevent more Asian-style crises.

---

Derivatives and global capital flows: applications to Asia

Article Abstract:

The understanding of the four factors associated with the financial crisis in Asia may be enhanced by an appreciation of the role of derivatives contracts in bringing about the financial flows to Asia. It can be argued that there are ways in which bank derivative contracts could have been connected with the rise in short-term bank lending to Asia and contributed to difficulties relating to capital flows to the region. It is clear that the enhanced use of over-the-counter derivatives contracts as the means of lending to Asia is the reason for the predominance of commercial banks as lenders.

Capital movements

---

The Asian crisis and the shaping of 'proper' economies

Article Abstract:

The normalization of 'free market' capitalism and its global enforcement through a comprehensive system of economic standardization and surveillance is examined. A new international agenda developed in the latter half of the 1990s, strengthening of the international financial system through the globalization of standards and codes of best practice took place is presented.

Asia, Analysis, Free trade, Globalization

Similar abstracts:

• Abstracts: Billboards from the air. Marketing in the Great White North. vTraction.com and the state of things to .com
• Abstracts: Comment on Glenn Rudebusch's "Do measures of monetary policy in a VAR make sense?". Do measures of monetary policy in a VAR make sense? A reply to Christopher A. Sims

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.