What Caused the Asian Currency and Financial Crisis?

Giancarlo Corsetti (), Paolo A. Pesenti and Nouriel Roubini ()

Working Papers from Banca Italia - Servizio di Studi

Abstract: The paper examines the view that the Asian currency and financial crisis in 1997 and 1998 reflected structural and policy distortions in the countries of the region, even though market overreaction and herding caused the plunge of exchange rates, asset prices and economic activity to be more severe than was warranted by the initial weak economic conditions.

Keywords: CURRENCIES; MONETARY CRISIS; ASIA (search for similar items in EconPapers)
JEL-codes: F30 O53 F32 F34 (search for similar items in EconPapers)
Date: 1998
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Journal Article: What caused the Asian currency and financial crisis? (1999)
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