Philippines

Hoe Ee Khor, Diwa C. Guinigundo and Masahiro Kawai ()

Chapter 7 in Trauma to Triumph:Rising from the Ashes of the Asian Financial Crisis, 2022, pp 127-137 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The Philippines was less affected by the Asian financial crisis (AFC) than other regional economies. A seemingly paradoxical reason cited for this, as observed by Roberto F. de Ocampo, was that it was viewed as the "laggard economy of Southeast Asia." However, the economy was also relatively more resilient to the ensuing contagion from the AFC because of reforms and policies pursued earlier. The AFC in turn was the impetus for further reforms to strengthen its economy and financial system when conditions had settled.

Keywords: ASEAN+3; Asian Financial Crisis; Global Financial Crisis (search for similar items in EconPapers)
JEL-codes: F02 F3 G01 (search for similar items in EconPapers)
Date: 2022
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