Singapore

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

Chapter 9 in Trauma to Triumph:Rising from the Ashes of the Asian Financial Crisis, 2022, pp 151-159 from World Scientific Publishing Co. Pte. Ltd.

Abstract: As a small, open economy and financial center, Singapore inevitably experienced a downturn in a region-wide crisis. However, it did not suffer as much duress as its neighbors because of its strong economic fundamentals. But the Asian financial crisis (AFC) had a longer-term impact that prompted a reorientation of Singapore's long-term economic strategies. The crisis also saw Singapore play a prominent role in giving feedback and advice to the international community, including the International Monetary Fund (IMF), on solutions to the crisis. Singapore also participated in the financial assistance programs for Thailand and Indonesia and, like the other regional economies, actively supported cross-border financial surveillance and capacity building in the post-AFC era.

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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