The Asian Financial Crisis: Origins, Implications, and Solutions

Editors: Hunter, William C., Kaufman, George G., Krueger, Thomas H. (Eds.)

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About this book

In the late 1990s, Korea, Thailand, Indonesia and Malaysia experienced a series of major financial crises evinced by widespread bank insolvencies and currency depreciations, as well as sharp declines in gross domestic production. This sudden disruption of the Asian economic `miracle' astounded many observers around the world, raised questions about the stability of the international financial system and caused widespread fear that this financial crisis would spread to other countries. What has been called the Asian crisis followed a prolonged slump in Japan dating from the early 1980s and came after the Mexican currency crisis in the mid-1990s. Thus, the Asian crisis became a major policy concern at the International Monetary Fund as well as among developed countries whose cooperation in dealing with such financial crises is necessary to maintain the stability and efficiency of global financial markets.
This book collects the papers and discussions delivered at an October 1998 Conference co-sponsored by the Federal Reserve Bank of Chicago and the International Monetary Fund to examine the causes, implications and possible solutions to the crises. The conference participants included a broad range of academic, industry, and regulatory experts representing more than thirty countries. Topics discussed included the origin of the individual crises; early warning indicators; the role played by the global financial sector in this crisis; how, given an international safety net, potential risks of moral hazard might contribute to further crises; the lessons for the international financial system to be drawn from the Asian crisis; and what the role of the International Monetary Fund might be in future rescue operations.
Because the discussions of these topics include a wide diversity of critical views and opinions, the book offers a particularly rich presentation of current and evolving thinking on the causes and preventions of international banking and monetary crises. The book promises to be one of the timeliest as well as one of the most complete treatments of the Asian financial crisis and its implications for future policymaking.

Table of contents (47 chapters)

  • The IMF and the Asian Crisis: A View from the Executive Board

    Lissakers, Karin

    Pages 3-10

  • The Asian Financial Crisis

    Moskow, Michael H.

    Pages 11-14

  • What Caused the Recent Asian Currency Crises?

    Burnside, Craig (et al.)

    Pages 17-26

  • Origins of the Crisis in Asia

    Dooley, Michael P.

    Pages 27-31

  • Thoughts on the Origins of the Asian Crisis: Impulses and Propagation Mechanisms

    Glick, Reuven

    Pages 33-63

Buy this book

eBook $119.00
price for USA (gross)
  • ISBN 978-1-4615-5155-3
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $209.00
price for USA
valid through November 5, 2017
  • ISBN 978-0-7923-8472-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $159.00
price for USA
  • ISBN 978-1-4613-7347-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
The Asian Financial Crisis: Origins, Implications, and Solutions
Editors
  • William C. Hunter
  • George G. Kaufman
  • Thomas H. Krueger
Copyright
1999
Publisher
Springer US
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-1-4615-5155-3
DOI
10.1007/978-1-4615-5155-3
Hardcover ISBN
978-0-7923-8472-4
Softcover ISBN
978-1-4613-7347-6
Edition Number
1
Number of Pages
XIV, 526
Topics