The Asian financial crisis: How long will the downturn last?

Arthur Grimes

New Zealand Economic Papers, 1998, vol. 32, issue 2, 215-224

Abstract: This paper analyses the likely length of the economic downturn currently being experienced in many Asian countries following their financial crises. Past international experience following financial crises is examined, and data is marshalled to demonstrate the severity of the “credit crunch” being experienced in a number of “tiger” economies. This evidence, coupled with the high profile banking problems in a number of these countries, leads to the conclusion that most of the affected countries will not experience a significant rebound in growth for some considerable time.

Date: 1998
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DOI: 10.1080/00779959809544290

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