Eeast Asia Through a Glass Darkly: Disparate Lenses on the Road to Damascus

J.W. Dean

Discussion Papers from Department of Economics, Simon Fraser University

Abstract: East Asia Through a Glass Darkly: Disparate Lenses on the Road to Damascus" This paper asks whether the Asian Crisis was a failure of Asian capitalism, or a failure of market capitalism. It begins with a stylized chronology of events that is broadly consistent with either hypothesis. It then re-tells the story, first through an "Asian failure" lens, and next through a "market failure" lens. The paper concludes by reporting what theoretical and policy consensus has so far emerged within the economics profession, as well as the quandaries that remain.

Keywords: FINANCIAL MARKET; ECONOMIC CRISIS (search for similar items in EconPapers)
JEL-codes: G10 G15 (search for similar items in EconPapers)
Pages: 33 pages
Date: 1999
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