The Asian Economic Crisis and Japan

Yamazawa Ippei

The Developing Economies, 1998, vol. 36, issue 3, 332-351

Abstract: The East Asian economies have been hit by a currency crisis and their miraculous growth has stopped abruptly. More than a year has passed since the crisis started, but the recovery of economic growth has been slow. Individual governments are struggling to overcome their severe economic difficulties, but they find themselves trapped and unable to recover on their own. Japan quickly contributed 37 billion dollars to these countries, but the Japanese economy itself has been stagnant. This paper tries to respond to the Asian request for help and seeks to explain how Japan is positioned in the current crisis and what scenario Japan can propose for overcoming it. The paper emphasizes closer cooperation to restore a stable currency regime, and calls for macroeconomic policy coordination, the strengthening of liberalization and facilitation, and greater economic and technical cooperation within the Asia Pacific Economic Cooperation community.

Keywords: Economic crisis; Currency crisis; Economic conditions; Asia; Japan; 経済危機; 通貨危機; 経済事情; アジア; 日本 (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://ir.ide.go.jp/?action=repository_action_com ... bute_id=22&file_no=1 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jet:deveco:v:36:y:1998:i:3:p:332-351

Ordering information: This journal article can be ordered from
http://www.wiley.com/bw/subs.asp?ref=0012-1533

Access Statistics for this article

More articles in The Developing Economies from Institute of Developing Economies, Japan External Trade Organization(JETRO) Contact information at EDIRC.
Bibliographic data for series maintained by Michitaka Imamitsu ().