Asia’s Financial Blues: The End of POLIS?

Haider Khan ()

Chapter 7 in Interpreting East Asian Growth and Innovation, 2004, pp 93-121 from Palgrave Macmillan

Abstract: Abstract The East Asian financial crisis was by all accounts the most significant event in the world economy in 1997. The topic dominated the headlines, attracted the attention of the world and generated much despairing rhetoric. The economists naturally joined the cacophony of condemnations. The dismal science had never looked so dismal since the great depression of the 1930s. Without doubt, the speed and depth of the collapse of financial markets in East Asia caught everyone by surprise. Neither the existing surveillance mechanisms nor markets warned the euphoric investors adequately of impending calamity. The reversal of fortunes in East Asia came suddenly and surprised even the experts. The contagion spread rapidly, engulfing a number of economies in quick succession. It started as a currency crisis, then became a financial crisis. By 1998 it had become a full-blown economic crisis.

Keywords: Interest Rate; Foreign Exchange; Foreign Capital; Money Market; Foreign Exchange Market (search for similar items in EconPapers)
Date: 2004
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:palchp:978-0-230-50353-3_7

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230503533

DOI: 10.1057/9780230503533_7

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().