Taiwan's Role in the Asian Financial Crisis

Rong-I Wu
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Rong-I Wu: Taiwan Institute of Economic Research, Taipei, Taiwan, R.O.C.

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 1998, vol. 01, issue 04, 529-544

Abstract: The depth of the 1997 Asian financial crisis has taken the world by surprise. Almost all major East Asian economies had experienced significant falls both in currency and share price. Some countries have been left with tremendous economic difficulties after their currencies were severely battered. Taiwan has emerged from the crisis as a stabilizing force in the region with its economy comparatively unscathed. This paper discusses the performance of Taiwan's economy throughout the crisis by looking at several factors underlying the financial turmoil. Meanwhile, it gives evidence to support the devaluation of the New Taiwan dollar as of October 1997.

JEL-codes: G1 G2 G3 (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1142/S0219091598000314

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