Asia and the International Monetary Fund: Reflections on the Present World Currency Crisis

Hajo Riese

A chapter in Challenges for International Organizations in the 21st Century, 2000, pp 109-128 from Palgrave Macmillan

Abstract: Abstract Business as usual: if we look at attempts to explain the financial crisis which swept over Asian economies in South-Korea, Indonesia, Thailand, Malaysia and the Philippines in fall 1997 and which is now surprisingly spilling over to Japan, one thing soon becomes apparent — that they are all grounded in mainstream economic thinking1 which attributes the root of the crisis to regional political failures. Such a position is reassuringly comfortable for a number of reasons.

Keywords: International Monetary Fund; Current Account Deficit; Domestic Currency; International Monetary System; Bretton Wood System (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-62715-8_6

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DOI: 10.1007/978-1-349-62715-8_6

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