Academic literature on the topic '1997 Asian financial crisis'

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Journal articles on the topic "1997 Asian financial crisis"

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Raz, Arisyi F., Tamarind P. K. Indra, Dea K. Artikasih, and Syalinda Citra. "GLOBAL FINANCIAL CRISES AND ECONOMIC GROWTH : EVIDENCE FROM EAST ASIAN ECONOMIES." Buletin Ekonomi Moneter dan Perbankan 15, no. 2 (December 27, 2012): 35–54. http://dx.doi.org/10.21098/bemp.v15i2.420.

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As economies become more integrated in the midst of globalization, financial crisis that occurs in one country can easily transmit to other countries, becoming global financial catastrophe in a short period of time. In such event, strong economic fundamentals are particularly important to defend a country from the contagious effect of the crisis. As evidence, due to the fragile economic fundamentals and lacking government credibility, East Asian economies were easily attacked by the crisis in 1997 once the sentiment deteriorated. Nevertheless, the region had learned its lessons in 1997 thereby proofing its resilience in facing the global financial crisis that struck in 2008 by improving its economic fundamentals as well as policymakers’ credibility. This paper starts with theories on economic growth and financial crisis. Further, it empirically examines to what extent the financial crises in 1997 and 2008 affect East Asian economies by using panel data econometrics. The evidence shows that, even though both crises have contributed adverse impacts on East Asian economies, the magnitude of the 2008 crisis was relatively less severe than that in 1997. Finally, this study also provides further discussions regarding how East Asian economies had successfully minimized the impact of the global crisis in 2008. Keywords: Global Financial Crises; East Asian Economies; Economic Growth;Financial Market; Random and Fixed EffectsJEL Classification: C330, E440, G010
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Robiyanto, Robiyanto. "Capital Market Integration In Some Asean Countries Revisited." Jurnal Manajemen 22, no. 2 (September 5, 2018): 205. http://dx.doi.org/10.24912/jm.v22i2.359.

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Financial market integration in Southern Asia especially in ASEAN main member countries still attractive to scrunitized. Most of these countries were devastated during severe regional financial crisis in 1997 but global financial crisis in 2008 have different impact toward these countries. The finding shows that comovement were exist among Indonesia, Malaysia, Singapore and Thailand’s capital market during January 1997 to December 2013 period. Comovement still exist during post Asian financial Crisis 1997 and post global financial crisis 2008 period. This study conclude also that degree of integration between some ASEAN capital markets have fading out after global financial crisis in 2008. Hence, investor could formulate a portfolio which consist of stocks across ASEAN capital markets.
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Tambunan, Tulus Tahi Hamonangan. "Long-term Economic Development and Employment Changes: The Indonesian Experience." Social Change 47, no. 4 (November 21, 2017): 493–508. http://dx.doi.org/10.1177/0049085717730267.

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This article assesses Indonesia’s long experience with economic development from 1990 up to 2014–2015. It examines economic growth and employment changes in three sub-periods: the high economic growth period 1990–1996; the Asian financial crisis and recovery period 1997–2007 and the global economic crisis from 2008 to the present. In this periodisation, the crisis years and their impact on employment experienced by Indonesia from 1990 to 2014–2015 will be visible. Additionally, it also examines changes in employment dualism, that is, formal vs. informal employment as well as changes in labour productivity during this extended time. This article shows that Indonesia’s economy performed exceptionally well after the 1997–1998 Asian financial crisis on the back of a continued prudent macroeconomic framework and solid policy reforms. Employment continued to increase and poverty continued to show a declining trend.
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Grimes, William W. "East Asian Financial Regionalism in Support of the Global Financial Architecture? The Political Economy of Regional Nesting." Journal of East Asian Studies 6, no. 3 (December 2006): 353–80. http://dx.doi.org/10.1017/s1598240800004628.

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East Asian financial regionalism has advanced significantly since the rejection of Japan's Asian Monetary Fund proposal in 1997. Key ASEAN+3 initiatives include the Chiang Mai Initiative, which is designed to provide emergency liquidity to economies experiencing currency crisis, and the Asian Bond Market Initiative, which seeks to develop regional bond markets. Surprisingly, these initiatives—despite the assertive “regionalist” rhetoric that has surrounded them and their intellectual origins in the analysis of the 1997–1998 Asian financial crisis—are explicitly designed to complement existing features of the global financial architecture, including IMF conditionality and global financial standards. The nesting of East Asian financial regionalism within the global financial architecture results from the political-economic interests of the leading economies of the region. In the absence of a major change in the political-economic environment, nesting is a stable equilibrium and is unlikely to change.
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Wu, Rong-I. "Taiwan's Role in the Asian Financial Crisis." Review of Pacific Basin Financial Markets and Policies 01, no. 04 (December 1998): 529–44. http://dx.doi.org/10.1142/s0219091598000314.

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The depth of the 1997 Asian financial crisis has taken the world by surprise. Almost all major East Asian economies had experienced significant falls both in currency and share price. Some countries have been left with tremendous economic difficulties after their currencies were severely battered. Taiwan has emerged from the crisis as a stabilizing force in the region with its economy comparatively unscathed. This paper discusses the performance of Taiwan's economy throughout the crisis by looking at several factors underlying the financial turmoil. Meanwhile, it gives evidence to support the devaluation of the New Taiwan dollar as of October 1997.
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Maroney, Neal, Atsuyuki Naka, and Theresia Wansi. "Changing Risk, Return, and Leverage: The 1997 Asian Financial Crisis." Journal of Financial and Quantitative Analysis 39, no. 1 (March 2004): 143–66. http://dx.doi.org/10.1017/s0022109000003926.

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AbstractThis paper explores risk and return relations in six Asian equity markets affected by the 1997 Asian financial crisis. After the start of the crisis, national equity betas increased and average returns fell substantially. Beta increases due to leverage linked to exchange rates. The increase in expected return needed to accompany this rise in beta is made possible through the creation of capital losses that lower average returns. We propose a new probability-based asset pricing model that captures leverage effects using valuation ratios. Results show the role of leverage in explaining the likelihood of the financial crises. Crosssectional evidence supports time-series findings.
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Cheng, Hwahsin, and John L. Glascock. "Stock Market Linkages Before and After the Asian Financial Crisis: Evidence from Three Greater China Economic Area Stock Markets and the US." Review of Pacific Basin Financial Markets and Policies 09, no. 02 (June 2006): 297–315. http://dx.doi.org/10.1142/s0219091506000732.

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We investigate the stock market linkages between the United States and three Greater China Economic Area stock markets — China, Hong Kong, and Taiwan, before and after the 1997 Asian financial crisis. Daily stock market indices from January 1995 to December 2000 are used for the analysis. Results from Granger causality test indicate increased feedback relationships between the markets in the post-crisis period. We also find, from the principal component analysis, fewer common factors affecting stock returns after the crisis, suggesting more harmonious market co-movements after the financial crisis. Additionally, results from a variance decomposition analysis suggest that stock markets are more responsive to foreign shocks after the crisis. This further strengthens the evidence that stock markets become more interrelated after the 1997 Asian financial crisis.
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TNG, BOON HWA, KIAN TENG KWEK, and ANDREW SHENG. "FINANCIAL STRESS IN ASEAN-5 ECONOMIES FROM THE ASIAN CRISIS TO THE GLOBAL CRISIS." Singapore Economic Review 57, no. 02 (June 2012): 1250013. http://dx.doi.org/10.1142/s0217590812500130.

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We construct four market-specific Financial Stress Indices (FSIs) and overall FSIs for the ASEAN-5 economies from 1997 to 2009. Using the FSIs, we establish stylized features of financial stress and characterize the connectivity of financial markets. The results show that stress was most severe during the Asian Crisis, followed by the Tech Burst and the recent Global Crisis. Principal component analysis (PCA) demonstrates that regional connectivity is strongest in equity markets, implying their predominant role in the transmission of stress within the region. Meanwhile, Singapore possesses the lowest connectivity within the ASEAN cluster, but the highest to international markets.
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Deesomsak, Rataporn, Krishna Paudyal, and Gioia Pescetto. "Debt maturity structure and the 1997 Asian financial crisis." Journal of Multinational Financial Management 19, no. 1 (February 2009): 26–42. http://dx.doi.org/10.1016/j.mulfin.2008.03.001.

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Pan, Ming-Shiun, Kam C. Chan, and David J. Wright. "DIVERGENT EXPECTATIONS AND THE ASIAN FINANCIAL CRISIS OF 1997." Journal of Financial Research 24, no. 2 (June 2001): 219–38. http://dx.doi.org/10.1111/j.1475-6803.2001.tb00766.x.

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Dissertations / Theses on the topic "1997 Asian financial crisis"

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Tivayanond, Prapaporn. "Developmental welfare in Thailand after the 1997 Asian financial crisis." Thesis, University of Oxford, 2011. http://ora.ox.ac.uk/objects/uuid:031d2eb3-84ba-4687-9e9f-a0fc7bbb985a.

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This thesis explores continuity and change in the developmental welfare approach in Thailand following the 1997 Asian financial crisis. It examines both the exogenous and endogenous forces that generated change as well as both the ‘process’ and the ‘content’ of transformation or responses to the crisis. It uses the One Tambon One Product (OTOP) policy as a case study to explore these changes. The principle research question is: To what extent did the post 1997 crisis policy on social protection in Thailand represent a shift from its existing institutional path of developmental welfarism? Extending from this overarching question are subsidiary questions, which guided the thesis. They include: To what extent did the OTOP policy address the social protection gaps that became apparent in the Asian financial crisis? To what extent did the OTOP policy benefit its target population? The thesis uses historical institutionalism (HI) and the role of ideas as the analytic frameworks in analyzing change. The thesis argues that the exogenous shock of the 1997 financial crisis contributed to some departure from the institutional path of developmental welfarism in Thailand. However, the change did not follow the conventional punctuated equilibrium (PE) model under the HI framework in the sense of moving from one equilibrium to another after an exogenous shock. Rather, the radical change that took place after the exogenous shock was gradual. The new set of institutional arrangement prompted significant ideational and institutional transformations. They involved both intended and unintended consequences of incremental shifts in the forms of ‘layering’ ‘drift’ and ‘conversion’ (Streeck and Thelen, 2005). In addition, the thesis argues that the transformation in Thailand after the 1997 financial crisis lies in an intermediate order of change that is found between shifts in policy instrument and a wholesale ‘paradigm shift’ (Hall, 1993). Here, apart from having introduced a new policy such as OTOP, the Thai government engaged in a broader rethinking of Thailand’s developmental welfare path. Moreover, the study finds that the structure of economic development in a developing country context can both promote and impede social protection, rather than only subordinate the latter. The claim is based on the finding that the expansion of economic policy goals in Thailand supported local development and increasing inclusiveness of the informal sector after the 1997 financial crisis. Finally, the thesis argues that social protection delivery or lack thereof reflects contestation of ideas as well as material interests. Both the state and the policy beneficiaries in the OTOP context pushed for their interests when there were gaps between policy formulation and implementation. As a result, changes occurred both in the policy goals and in who benefited from OTOP.
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Thienchai, Parichart. "Modelling the determination of stock returns and contagion effects in the 1997 East Asian financial crisis." Thesis, Imperial College London, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.405728.

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Markar, Imran. "An empirical study of corporate financing in East Asia before the financial crisis of 1997." Thesis, University of Cambridge, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.409751.

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Shi, Chenguang. "Dynamic linkages and propagation mechanisms among Asian stock markets : an analysis of the pre- and post-1997-98 financial crisis." Thesis, Loughborough University, 2009. https://dspace.lboro.ac.uk/2134/35661.

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This thesis analyses dynamic interdependence, volatility transmission and market integration across eight selected Asian stock markets from 1992 to 2007. Various methodologies are applied to test such relationships. In particular, the focus is given to the impact of the 1997-98 Asian financial crisis on the dynamic linkages and propagation mechanisms among these selected Asian equity markets. The techniques of unit root testing, cointegration, vector error correction modelling (VECM) and forecast error variance decomposition (VDC) analysis are initially performed in both whole sample period and four sub-sample periods (namely pre-crisis, crisis, post-crisis and recovery periods). The results suggest that Asian stock markets are highly integrated and the crash has brought a greater interaction amongst markets. Japan, Hong Kong and Singapore appear to play the relative leading role over other markets. Furthermore, the characteristics of stock volatility are then examined using univariate TAR-GARCH model. The results show that volatility is time-varying and bad news will generate more volatility than good news. Additionally, the empirical findings show the existence of day of week effects in returns and volatility in emerging markets before but not after the crisis. This suggests improved post-crash market efficiency in Asian emerging markets.
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Ineichen, Adrian Orlando. "Why did the South Korean won depreciate against the US dollar in the recent economic crisis and the Asian financial crisis 1997/98? won-dollar exchange rate movements and the role of capital flows /." Connect to Electronic Thesis (CONTENTdm), 2010. http://worldcat.org/oclc/646822305/viewonline.

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Chan, Chi-ming Victor, and 陳志明. "Domestic institutions and Japan's foreign economic policy: the Japanese economic assistance to Southeast Asia, 1997-1999." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2001. http://hub.hku.hk/bib/B31223941.

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Chan, Chi-ming Victor. "Domestic institutions and Japan's foreign economic policy the Japanese economic assistance to Southeast Asia, 1997-1999 /." Hong Kong : University of Hong Kong, 2001. http://sunzi.lib.hku.hk/hkuto/record.jsp?B23242139.

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Chan, Siu-fun Cynthia. "Asian crisis Indonesia and Hong Kong /." Click to view the E-thesis via HKUTO, 1999. http://sunzi.lib.hku.hk/hkuto/record/B31951855.

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Coomber, Jayson. "Zimbabwe's economic crisis & hyperinflation, 1997-2009." Master's thesis, University of Cape Town, 2010. http://hdl.handle.net/11427/12427.

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The focus of this paper will be on Zimbabwe’s particular hyperinflationary episode. The crisis has its roots in Zimbabwe's struggle for independence, which took place in the 1970s. This struggle, known as the Second Chimurengo, culminated in Zimbabwe’s declaration of Independence on April 18, 1980. The incumbent President Mugabe has repeatedly referred to the current period of Zimbabwe’s history as the Third Chimurenga: the final stage in Zimbabwe's battle against those he terms the "neo-colonialists" (Raftopoulos, 2009). Given all the hyperinflations of the past, the question to be asked is whether the Zimbabwean experience is an isolated economic novelty; or, rather, is it simply a repetition of the economic and political follies that have plagued some of the fiat governments of the modern world? The purpose of this research, then, is to provide a detailed historical account of the economic side of the crisis, documenting the observable causes and phenomena that accompanied it. This account will then form the basis of a historical analysis of the key features that the Zimbabwean episode shares with other past hyperinflations, in an attempt to draw universal conclusions about the emergence and development of such episodes.
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Wisnu, Dinna. "Governing Social Security: economic crisis and reform in Indonesia, the Philippines and Singapore." Columbus, Ohio : Ohio State University, 2007. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1179867530.

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Books on the topic "1997 Asian financial crisis"

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Zhuang, Juzhong. Causes of the 1997 Asian finanical crisis: What can an early warning system model tell us? Manila: Asian Development Bank, 2002.

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Bowe, Michael. Did foreign investors destabilize equity markets during the 1997 Asian financial crisis?: Evidence from closed-end country funds. Manchester: Manchester School of Management, 2000.

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1937-, Yamazawa Ippei, Ajia Keizai Kenkyūjo (Japan), and Nihon Bōeki Shinkōkai, eds. Strengthening cooperation among Asian economies in crisis : papers and proceedings of the International Symposium on the Asian Economic Crisis and Its Impact on Trade and Investment, held on November 6, 1998 in Tokyo. Tokyo: Institute of Developing Economies, Japan External Trade Organization, 1999.

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United States. Congress. Senate. Committee on Finance. Consequences of the Asian financial crisis: Hearing before the Committee on Finance, United States Senate, One Hundred Fifth Congress, second session, February 4, 1998. Washington: U.S. G.P.O., 1999.

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Khoo, Gaik Cheng, Thomas Barker, and Mary Ainslie, eds. Southeast Asia on Screen. NL Amsterdam: Amsterdam University Press, 2020. http://dx.doi.org/10.5117/9789462989344.

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After the end of World War II when many Southeast Asian nations gained national independence, and up until the Asian Financial Crisis, film industries here had distinctive and colourful histories shaped by unique national and domestic conditions. Southeast Asia on Screen: From Independence to Financial Crisis (1945-1998) addresses the similar themes, histories, trends, technologies and sociopolitical events that have moulded the art and industry of film in this region, identifying the unique characteristics that continue to shape cinema, spectatorship and Southeast Asian filmmaking in the present and the future. Bringing together scholars across the region, chapters explore the conditions that have given rise to today’s burgeoning Southeast Asian cinemas as well as the gaps that manifest as temporal belatedness and historical disjunctures in the more established regional industries.
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Delano, Villanueva, ed. Early warning indicators, deposit insurance, and methods for resolving failed financial institutions: Selected papers of the SEACEN Workshop on a Regulator's Action Plan on Bank Failures, 9-11 March 1998, the SEACEN Centre. Kuala Lumpur, Malaysia: South East Asian Central Banks, Research and Training Centre, 1999.

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United States. Congress. House. Committee on International Relations. Subcommittee on International Economic Policy and Trade., ed. Japan's role in the Asian financial crisis: Hearing before the Subcommittee on Asia and the Pacific and the Subcommittee on International Economic Policy and Trade of the Committee on International Relations, House of Representatives, One Hundred Fifth Congress, second session, April 23, 1998. Washington: U.S. G.P.O., 1998.

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The Asian currency crisis. Singapore: Times Academic Press, 2000.

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The Asian financial crisis: Crisis, reform and recovery. Manchester, UK: Manchester University Press, 2003.

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Chang, Ha-Joon, Gabriel Palma, and D. Hugh Whittaker, eds. Financial Liberalization and the Asian Crisis. London: Palgrave Macmillan UK, 2001. http://dx.doi.org/10.1057/9780230518629.

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Book chapters on the topic "1997 Asian financial crisis"

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Firdausy, Carunia Mulya. "Indonesian Labour Migration after the 1997–98 Asian Economic and Financial Crisis." In Mobility, Labour Migration and Border Controls in Asia, 139–54. London: Palgrave Macmillan UK, 2006. http://dx.doi.org/10.1057/9780230503465_7.

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Kuriyama, Naoki. "Resilience of Japanese Automobile Investment in Thailand during the 1997 Asian Financial Crisis." In Japanese Human Resource Management, 107–26. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-43053-9_5.

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Kim, Kyung-Hwan. "The Global Financial Crisis and the Korean Housing Sector: How is this Time Different from the 1997 Asian Financial Crisis?" In Global Housing Markets, 399–419. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2015. http://dx.doi.org/10.1002/9781119200505.ch18.

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Bustelo, Pablo. "7. South Korea in 1997–98: A Critical View of the Financial Crisis and the IMF Remedies." In The End of the ‘Asian Model’?, 163. Amsterdam: John Benjamins Publishing Company, 2000. http://dx.doi.org/10.1075/aios.2.08bus.

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Lynn, Stephen G. "Corporate Governance in the Philippines: Legal and Institutional Aspects and Impact on the 1997 Financial Crisis and its Aftermath." In The Governance of East Asian Corporations, 138–54. London: Palgrave Macmillan UK, 2004. http://dx.doi.org/10.1057/9780230523272_7.

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Guo, Yong. "The Asian Financial Crisis and Chinese Banking Reforms in 1998–2001." In Banking Reforms and Monetary Policy in the People’s Republic of China, 86–102. London: Palgrave Macmillan UK, 2002. http://dx.doi.org/10.1057/9781403914545_5.

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Katada, Saori N. "Determining Factors in Japan’s Cooperation and Noncooperation with the United States: The Case of Asian Financial Crisis Management, 1997–1999." In Japanese Foreign Policy in Asia and the Pacific, 155–73. New York: Palgrave Macmillan US, 2001. http://dx.doi.org/10.1057/9780230107472_9.

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Moskow, Michael H. "The Asian Financial Crisis." In The Asian Financial Crisis: Origins, Implications, and Solutions, 11–14. Boston, MA: Springer US, 1999. http://dx.doi.org/10.1007/978-1-4615-5155-3_2.

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Rashid, Salim. "The Asian Financial Crisis." In Economic Policy for Growth, 163–80. Boston, MA: Springer US, 2000. http://dx.doi.org/10.1007/978-1-4615-4537-8_9.

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Bhalla, A. S., and D. M. Nachane. "The Asian Financial Crisis." In Market or Government Failures?, 65–91. London: Palgrave Macmillan UK, 2001. http://dx.doi.org/10.1057/9780230629202_4.

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Conference papers on the topic "1997 Asian financial crisis"

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Öngel, Volkan, and Serdar Kuzu. "An Evaluation of the Major Indicators of Economical Crisis in Central Asian Countries within the Framework of Global Financial Crisis of 2008." In International Conference on Eurasian Economies. Eurasian Economists Association, 2012. http://dx.doi.org/10.36880/c03.00478.

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Several financial crises that have different causes and effects occured in financial markets in which globalization takes its effect increasingly. Central Asian Countries which have gained their independence after the disintegration of the Soviet Union in 1991 both faced important socio-cultural and political changes and were affected many global crises during 1991-2012. The global financial crisis which occured in the USA in 2008 as a mortgage crisis spreaded as a result of globalization and affected the developing economies. 2008 global financial crisis caused trouble especially in macroeconomic issues such as employment, production, supply, demand, level of welfare, openness, price stability, economic growth, inflation and unemployment. This study aims to imply how the selected Central Asian Countries have been affected by the 2008 global financial crisis and their future expectations by analysing leading macroeconomic indicators. In this context, the effects of the global financial crisis on macroeconomic variables of Kazakhistan, Azerbaijan, Kyrgyzstan, Turkmenistan and Uzbekistan will be interpreted. In the light of these indicators, it will be analysed if there are leading indicators for a coming economic crisis in Central Asian Countries and also how their economic structure will be in the near future.
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Kayani, Farrukh, and Zhongxiu Zhao. "Chinese Rationale for Free Trade Agreements." In International Conference on Eurasian Economies. Eurasian Economists Association, 2012. http://dx.doi.org/10.36880/c03.00387.

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In East Asia economic regionalism and Free Trade Agreements (FTAs) are proliferating at tremendous pace despite being the latecomer as compared to Americas and Europe. Proliferation of FTAs in East Asia started to spread after the Asian financial crisis of 1997. The East Asian economies were dissatisfied with the way the IMF handled the crisis, particularly in Thailand and Indonesia. Presently, about over 100 FTAs are at various stages of development in East Asia. China is also actively engaged in FTAs like the other East Asian neighboring countries for achieving multiple objectives. In this paper we analyzed the detailed reasons that why China is pursuing FTAs? Furthermore, it is said that FTAs may jeopardize the multilateral trading system. As FTAs undermine the WTO policy of maintaining a liberal, non discriminatory and multilateral trading system by supporting the government interventions and prudential controls. Thus we would also explore that whether FTAs are building or stumbling blocks?
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Levent, Cüneyd Ebrar. "Increasing Transparency in Capital Markets after the Global Financial Crisis: The Case of Turkey." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01267.

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The need for financial transparency is way beyond reducing fluctuations on financial markets, the protection of small investors or fighting against money laundering. Asian crisis in 1997, Dot-com bubble in 2000, company crises such as Enron and the global financial crisis in 2008 have shown that a crisis caused by the lack of transparency in companies might not only affect the company and its stakeholders in a negative way but also the country and the region the company is in. After the financial crisis of 2008 many countries made various arrangements in capital accounts about increasing transparency and accountability which was seen as one of the reason of the crisis in addition the short and long term precautions. Dodd–Frank Wall Street Reform and Consumer Protection Act which came into force in the United States in July 2010 is one of the most significant arrangements. In this study, practices of increasing transparency in capital markets after global financial crisis have been discussed. In this context, in light of the new regulations and the Corporate Governance Principles, transparency and disclosure practices in Turkey have been examined. The results of these practices have been analyzed in the short term and its possible effects on capital markets, companies and shareholders have been discussed in the long term. Increasing transparency has been expected to help financial markets process more effectively and to provide benefits to all stakeholders.
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"Structural Breaks and Diversification: The Impact of the 1997 Asian Financial Crisis on the Integration of Asia Pacific Real Estate Markets." In 9th European Real Estate Society Conference: ERES Conference 2002. ERES, 2002. http://dx.doi.org/10.15396/eres2002_140.

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Xie, Zhiqiong. "ASIAN FINANCIAL CRISIS AND CHINA." In Proceedings of the Forty-Eighth Pugwash Conference on Science and World Affairs. WORLD SCIENTIFIC, 2001. http://dx.doi.org/10.1142/9789812810212_0042.

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Ye, Yonggang, Junghui Liu, and Qin Wang. "Financial Risk Analysis in Taiwan Area after Asian Financial Crisis." In 2009 International Joint Conference on Computational Sciences and Optimization, CSO. IEEE, 2009. http://dx.doi.org/10.1109/cso.2009.94.

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Grebenyuk, E. A., A. A. Budilov, E. A. Grebenyuk, I. D. Rodionov, and N. M. Selyuto. "Econometrics Methods for Predictability of Financial Crises on Example Asian Crisis." In 2018 Eleventh International Conference "Management of large-scale system development" (MLSD 2018). IEEE, 2018. http://dx.doi.org/10.1109/mlsd.2018.8551878.

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Thao, Tran Phuong, Kevin Daly, and Craig Ellis. "POST GLOBAL FINANCIAL CRISIS AND DYNAMIC LINKAGES AMONG THE EAST ASIAN EQUITY MARKETS." In 3rd Annual International Conference on Qualitative and Quantitative Economics Research (QQE 2013). Global Science and Technology Forum Pte Ltd, 2013. http://dx.doi.org/10.5176/2251-2012_qqe13.20.

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Raghavan, Mala, Param Silvapulle, and George Athanasopoulos. "Malaysian monetary transmission mechanism: Evidence from the pre- and post-Asian financial crisis periods." In 2010 International Conference on Management Science and Engineering (ICMSE). IEEE, 2010. http://dx.doi.org/10.1109/icmse.2010.5719930.

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Mohamad, Maizatul Saadiah, and Abdul Rahim Ridzuan. "Detecting the early evidence of real monetary converges for ASEAN5+3 after Asian financial crisis." In 2012 IEEE Colloquium on Humanities, Science and Engineering (CHUSER). IEEE, 2012. http://dx.doi.org/10.1109/chuser.2012.6504364.

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Reports on the topic "1997 Asian financial crisis"

1

Chandrasekhar, C. P. The Long Search for Stability: Financial Cooperation to Address Global Risks in the East Asian Region. Institute for New Economic Thinking Working Paper Series, March 2021. http://dx.doi.org/10.36687/inetwp153.

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Abstract:
Forced by the 1997 Southeast Asian crisis to recognize the external vulnerabilities that openness to volatile capital flows result in and upset over the post-crisis policy responses imposed by the IMF, countries in the sub-region saw the need for a regional financial safety net that can pre-empt or mitigate future crises. At the outset, the aim of the initiative, then led by Japan, was to create a facility or design a mechanism that was independent of the United States and the IMF, since the former was less concerned with vulnerabilities in Asia than it was in Latin America and that the latter’s recommendations proved damaging for countries in the region. But US opposition and inherited geopolitical tensions in the region blocked Japan’s initial proposal to establish an Asian Monetary Fund, a kind of regional IMF. As an alternative, the ASEAN+3 grouping (ASEAN members plus China, Japan and South Korea) opted for more flexible arrangements, at the core of which was a network of multilateral and bilateral central bank swap agreements. While central bank swap agreements have played a role in crisis management, the effort to make them the central instruments of a cooperatively established regional safety net, the Chiang Mai Initiative, failed. During the crises of 2008 and 2020 countries covered by the Initiative chose not to rely on the facility, preferring to turn to multilateral institutions such as the ADB, World Bank and IMF or enter into bilateral agreements within and outside the region for assistance. The fundamental problem was that because of an effort to appease the US and the IMF and the use of the IMF as a foil against the dominance of a regional power like Japan, the regional arrangement was not a real alternative to traditional sources of balance of payments support. In particular, access to significant financial assistance under the arrangement required a country to be supported first by an IMF program and be subject to the IMF’s conditions and surveillance. The failure of the multilateral effort meant that a specifically Asian safety net independent of the US and the IMF had to be one constructed by a regional power involving support for a network of bilateral agreements. Japan was the first regional power to seek to build such a network through it post-1997 Miyazawa Initiative. But its own complex relationship with the US meant that its intervention could not be sustained, more so because of the crisis that engulfed Japan in 1990. But the prospect of regional independence in crisis resolution has revived with the rise of China as a regional and global power. This time both economics and China’s independence from the US seem to improve prospects of successful regional cooperation to address financial vulnerability. A history of tensions between China and its neighbours and the fear of Chinese dominance may yet lead to one more failure. But, as of now, the Belt and Road Initiative, China’s support for a large number of bilateral swap arrangements and its participation in the Regional Comprehensive Economic Partnership seem to suggest that Asian countries may finally come into their own.
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2

Radelet, Steven, and Jeffrey Sachs. The Onset of the East Asian Financial Crisis. Cambridge, MA: National Bureau of Economic Research, August 1998. http://dx.doi.org/10.3386/w6680.

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3

Brown, Stephen, William Goetzmann, and James Park. Hedge Funds and the Asian Currency Crisis of 1997. Cambridge, MA: National Bureau of Economic Research, February 1998. http://dx.doi.org/10.3386/w6427.

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4

Faccio, Mara, and Rajdeep Sengupta. Corporate Response to Distress: Evidence from the Asian Financial Crisis. Federal Reserve Bank of St. Louis, 2006. http://dx.doi.org/10.20955/wp.2006.044.

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5

Aizenman, Joshua, and Hiro Ito. East Asian Economies and Financial Globalization In the Post-Crisis World. Cambridge, MA: National Bureau of Economic Research, May 2016. http://dx.doi.org/10.3386/w22268.

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6

Park, Albert, Dean Yang, Xinzheng Shi, and Yuan Jiang. Exporting and Firm Performance: Chinese Exporters and the Asian Financial Crisis. Cambridge, MA: National Bureau of Economic Research, January 2009. http://dx.doi.org/10.3386/w14632.

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7

Benmelech, Efraim, and Eyal Dvir. Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis. Cambridge, MA: National Bureau of Economic Research, September 2011. http://dx.doi.org/10.3386/w17468.

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8

Kane, Edward. Capital Movements, Banking Insolvency, and Silent Runs in the Asian Financial Crisis. Cambridge, MA: National Bureau of Economic Research, January 2000. http://dx.doi.org/10.3386/w7514.

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9

Corsetti, Giancarlo, Paolo Pesenti, and Nouriel Roubini. What Caused the Asian Currency and Financial Crisis? Part I: A Macroeconomic Overview. Cambridge, MA: National Bureau of Economic Research, December 1998. http://dx.doi.org/10.3386/w6833.

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10

Corsetti, Giancarlo, Paolo Pesenti, and Nouriel Roubini. What Caused the Asian Currency and Financial Crisis? Part II: The Policy Debate. Cambridge, MA: National Bureau of Economic Research, December 1998. http://dx.doi.org/10.3386/w6834.

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