Dissertations / Theses: 'The Asian crisis'

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Shahabi-Azad, Shahrokh. "Perspectives on the Asian crisis." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 2000. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape3/PQDD_0028/MQ51470.pdf.

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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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Chan, Siu-fun Cynthia, and 陳笑芬. "Asian crisis: Indonesia and Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1999. http://hub.hku.hk/bib/B31951855.

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Mohr, Alexander T., and B. N. Kumar. "The effects of the Asian crisis on German FDI in Southeast Asia." Gabler Publishing, 2001. http://hdl.handle.net/10454/4047.

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Liu, Qianqian. "China's strategy towards East Asian regional cooperation since the Asian financial crisis." Thesis, University of Cambridge, 2011. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.609782.

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Li, Yan. "Lessons from the crisis : dangers and opportunities in the Asian financial crisis." Thesis, University of Leicester, 2011. http://hdl.handle.net/2381/10052.

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This study generates an overview of the 1997 Asian financial crisis, from its causes to the consequences. At the same time, it examines the context of the crisis, which includes the review of historical Asian development and the role of the International Monetary Fund (IMF) in the financial crisis. Particular attention is given to the crisis‘ impact on the local economy and people. In this it differs from existing research that analyses the impact on its own, this study links the crisis‘ impact to the foreign direct investment (FDI). The impact of the crisis, therefore, is reflected by examining the control power of the FDI money. It examines the crisis‘ impact through focusing on a unique angle of the two elements in the crisis – danger and opportunity. The results show that the social impact of the crisis put local people in danger of unemployment, underemployment, falling real wages and growing social inequality and lowered land and commodity prices, which dramatically reduced the cost of production. Accordingly, the control power of the FDI money increased extensively in the crisis, which represents the increasing danger of unfair exploitation of local labour and enclosure of land and resources which can be seen as opportunities beneficial to the international capitalists.

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Ngadi, Leila. "Financial liberalisation as a predictor of financial crises : evidence from the Asian crisis /." Title page, contents and introduction only, 1999. http://web4.library.adelaide.edu.au/theses/09ARM/09armn576.pdf.

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Bakar, Nor'Aznin Abu. "Solvency and the currency crisis in Asia : evidence from the four Asian countries." Thesis, University of Surrey, 2000. http://epubs.surrey.ac.uk/842887/.

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The study deals with the Asian currency crises, in which the causes and consequences of the crisis are analysed. The two hypotheses which, are often viewed as competing, fundamental and panic and herd behaviour, are also examined. The first hypothesis states that fundamental imbalances triggered the Asian currency and financial crisis in 1997. The crisis occurred because the economies had deteriorating current accounts, a slowdown in growth rates and short-term debt approaching a dangerous level, while the second hypothesis states that sudden shifts in market expectations and confidence were the cause of the initial financial turmoil. When the crisis erupted it caused panic in domestic and foreign investors. A major focus of the study is to evaluate these two approaches and to examine whether there was evidence of insolvency prior to the crisis. A solvency index as originally popularised by Cohen (1991) is then calculated for each country. An econometric analysis of the trade sector is undertaken in which the Engle-Granger two-step procedure is employed, and the short-run dynamics are described by the Error Correction Mechanism (ECM). The Johansen Maximum Likelihood test is also employed as a comparison to the Engle-Granger Two-Step model. Subsequently the price elasticities obtained from the export demand model together with the GDP supply elasticity are used to calculate the index. From the results, it appeal's that all countries were solvent prior to the crisis in which the percentage of actual debt service paid (in 1997) was greater than the percentage that needs to be paid to be solvent. This suggests that a further external credit could have solved the problem, as it was a matter of short-term liquidity difficulties and panic, rather than insolvency.

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White, Tristram Benedict Thirkell. "Legitimating the IMF lessons from the Asian crisis /." Thesis, Online version, 2002. http://ethos.bl.uk/OrderDetails.do?did=1&uin=uk.bl.ethos.420485.

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De, Sausmarez Nicolette Jill. "Crisis management for the tourism sector : Malaysia's response to the Asian financial crisis." Thesis, University of Strathclyde, 2003. http://oleg.lib.strath.ac.uk:80/R/?func=dbin-jump-full&object_id=21534.

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The purpose of this research was to investigate crisis management in the context of the tourism sector by means of a case study of the Malaysian response to the Asian financial crisis. Not only was the reaction of the Malaysian government to the crisis examined but the possibility of developing a strategy to protect the sector against future crises was also explored. Primary data were collected by means of semi-structured interviews with senior Malaysian public and private sector policy makers. Areas of interest addressed included the crisis management measures employed to assist the recovery of the tourism sector; the lessons learnt from the crisis: the potential for public/private sector cooperation to develop a crisis management plan for the tourism sector; and how such a plan might be implemented. It was generally felt by the participants that the measures employed had been effective in restoring the tourism sector status quo, although there was some concern expressed over how long this had taken. It was agreed that there is a need for a sectoral crisis management plan but no consensus as to who should fund it, which figures could be used as indicators of the approach of a crisis and how they should be collected, and what form any such plan should take. This research indicates that there is a case for the government to work with the private sector to develop some sort of crisis management provision for the tourism sector. However, it is apparent that it may be extremely problematic to formulate an appropriate plan and there may be difficulties as to how it should be funded and who should take responsibility for its implementation. It appears that an approach at state level would have more potential than a federal plan but more research in this area is required.

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Taguchi, Hiroyuki. "The East Asian currency crisis and exchange rate management /." Electronic version of summary Electronic version of examination, 2005. http://www.wul.waseda.ac.jp/gakui/gaiyo/3967.pdf.

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12

Kim, Jung-Kwan. "Monetary policy and exchange rate during the Asian Crisis." free to MU campus, to others for purchase, 2002. http://wwwlib.umi.com/cr/mo/fullcit?p3052187.

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13

Riley, David Daniel. "UK-US relations and the South Asian crisis, 1971." Thesis, Cardiff University, 2016. http://orca.cf.ac.uk/99792/.

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This thesis investigates UK-US relations with regard to the South Asian Crisis of 1971. Through a focus on an understudied point of disagreement within the relationship between Prime Minister Edward Heath and President Richard Nixon, the thesis sheds further light on Anglo-American relations in the early 1970s. Through analysis of archival documents on both sides of the Atlantic, this thesis contributes to the growing revisionist literature that has moved away from a focus upon Heath’s pro-Europeanism as the cause of problems in the Anglo-American relationship at the time. Rather, a more nuanced approach that also investigates the impact of the secretive foreign policymaking style of the Nixon White House is taken into account. The thesis reveals the issues in communication and differences of interests that, in December 1971, led the UK and US delegations at the UN Security Council to tacitly advocate for opposite sides of a hot war in South Asia. The thesis assesses the effect that these heated disagreements had upon the Anglo-American relationship going into 1972 and 1973.

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Khan, Shazida jan Mohd. "Bank efficiency, competition and the Southeast Asian financial crisis." Thesis, Bangor University, 2011. https://research.bangor.ac.uk/portal/en/theses/bank-efficiency-competition-and-the-southeast-asian-financial-crisis(6f5d0108-3daa-4172-98f3-e80f87caaa34).html.

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The financial crisis which hit Southeast Asian countries in July 1997 had a significant impact on the countries' economies and forced governments in the region to undertake programmes of financial restructuring in order to reduce weaknesses in banks' balance sheets, stabilise currencies and, most importantly, to improve the soundness of the banking and financial sectors. The main aim of such policies was to restore confidence and help meet the ongoing challenges associated with financial innovation and globalisation. The causes and consequences of the Asian crisis have been studied extensively in the past decade. However, the literature on the impact of the post-crisis crisis restructuring programmes on bank efficiency, performance and competition, and their evolving relationships, remain rather limited and inconclusive. This study aims to shed some light on these interrelated aspects, with particular reference to the experience of six of the countries mostly affected by the crisis - Indonesia, Korea, Malaysia, Philippines and Thailand - during their recovery period (1999 to 2005). Results from the efficiency analysis, carried out by means of Data Envelopment Analysis (DEA), show evidence of efficiency improvements in the region thereby indicating a positive impact of the restructuring programmes on the banking sector. Between 1999 to 2005 most of the countries in our sample actively followed policies of either closing failing institutions or fostering mergers. As a consequence, bank concentration in the region increased, raising the issue of the impact of the restructuring programmes on the competitive structure of banking markets. We found that, despite increased concentration, competition (assessed by the Panzar-Rosse Hstatistic) also increased leading us to conclude that the structural changes in South East Asia improved the region's banking industry performance without resulting in banks enjoying excessive market power. These lessons from the Asian crisis may prove valuable in the light of current re-structuring of global banking systems in the light of the 2008 credit crisis.

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Witjaksono, Sigit. "Japan’s Role in Responding to the Crisis in Southeast Asia and the East Asian Regionalism." Graduate School of International Development. Nagoya University, 2004. http://hdl.handle.net/2237/6242.

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Porter, Caroline. "Youth in Crisis: Understanding the Surge of Adolescent Suicide in South Korea." Scholarship @ Claremont, 2016. http://scholarship.claremont.edu/scripps_theses/818.

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The following thesis examines South Korean history, traditional values and the effects of the 1997 Asian Financial Crisis in order to understand the political, economic, and social causes of the increase in adolescent suicides since the turn of the millennium.

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Chang, Alexander J. "Lessons China Can Learn from the East Asian Financial Crisis: A Comparative Study of the Pre-Crisis East Asian and Modern-Day Chinese Economies." Thesis, Boston College, 2006. http://hdl.handle.net/2345/584.

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Thesis advisor: Zhijie Xiao
This paper attempts to deliver a side-by-side examination of the similarities and differences between the economies of East Asia (Singapore, Taiwan, Hong Kong, Korea Republic, Thailand, Malaysia, Indonesia, and the Philippines) and China. After the devastating 1997 Crisis, many investing eyes have turned to China as the next Asian growth engine. China has been opening its economy to foreign investors and its accession into the World Trade Organization will push for increased transparency and efficiency. The paper discusses the internal and external forces that drove the economies, with focused attention on its financial systems, using pre-crisis data. With foreign banks allowed entry into China by the end of 2006, its financial system will be an important component in economic longevity. Lastly, the question of whether or not China is vulnerable to a crisis is assessed based on the same factors that caused it in East Asia
Thesis (BA) — Boston College, 2006
Submitted to: Boston College. College of Arts and Sciences
Discipline: Economics Honors Program
Discipline: College Honors Program

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Heldebro, Erik, and Jaroslav Veresjtjaka. "The East Asian Crisis of 1997: Causes and China’s Resilience." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Nationalekonomi, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-21687.

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Safuan, Sugiharso. "Three essays on international macroeconomic interdependence in the Asian crisis." Thesis, University of Southampton, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.400483.

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Lee, Eog-Weon. "Sovereign rating changes and financial markets during the Asian crisis /." free to MU campus, to others for purchase, 2003. http://wwwlib.umi.com/cr/mo/fullcit?p3091943.

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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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Atchariyachanvanich, Waranya. "VAR Analysis of Monetary Policy Transmission Mechanisms : Empirical Study on Five Asian Countries after the Asian Crisis." Graduate School of International Development. Nagoya University, 2004. http://hdl.handle.net/2237/6256.

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Oga, Toru. "Deconstructing Asianisation : the Asian financial crisis and the constitution of Asianness." Thesis, University of Essex, 2005. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.415636.

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Liu, I.-Pin. "The impact of the Asian financial crisis on the R.O.C., Taiwan /." View abstract, 1999. http://library.ctstateu.edu/ccsu%5Ftheses/1571.html.

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Thesis (M.S.)--Central Connecticut State University, 1999.
Thesis advisor: Marie Guarino. " ... in partial fulfillment of the requirements for the degree of Master of Science [in History]." Includes bibliographical references (leaves 42-45).

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Frey, Damaris. "What caused the Asian crisis 1997/98? Fundamentals vs. Market Psychology /." St. Gallen, 2007. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/05609565001/$FILE/05609565001.pdf.

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Shibata, Miyuki. "Financial crisis in Thailand and the Philippines : an applied approach." Thesis, University of East Anglia, 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.246960.

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Ladpli, Pimpen. "Economic policy and development in south-east Asian economies." Thesis, University of Southampton, 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.390602.

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Zain, Sharifah Raihan Syed Mohd. "An empirical study of Malaysian firms' capital structure." Thesis, University of Plymouth, 2003. http://hdl.handle.net/10026.1/2715.

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It is sometimes purported that one of the factors affecting a firm's value is its capital structure. The event of the 1997 Asian financial crisis was expected to affect the firms' gearing level as the firms' earnings deteriorated and the capital market collapsed. The main objective of this research is to examine empirically the determinants of the capital structure of Malaysian firms. The main additional aim is to study the capital structure pattern following the 1997 financial crisis. Empirical tests were conducted on two different data sets: the first data set is the published data extracted from Datastream and consists of: 572 companies listed on the Kuala Lumpur Stock Exchange (KLSE) between 1994 and 2000. The second data set comprises finance managers' responses to a questionnaire survey. Chi-square, Kruskal-Wallis, ANOVA, multiple regression, stepwise regression and logistic regression were utilised to analyse the data. The multiple regression analysis was employed to find the determinants of the capital structure using various account data items provided by Datastream. The gearing differences between the two boards and within the sectors were also analysed using ANOVA and Krukal-Wallis tests. The panel data were evaluated with regard to the gearing pattern following the 1997 currency crisis. Overwhelming evidence on profit was found, with past profitability being the major determinant of gearing. In particular was the support for pecking order theory, in that finance managers had given internal funds the highest priority, followed by debt and equity as a last option. The statistical analysis found a strong negative correlation between liquidity and the gearing ratio for both boards, implying firms considered highly the excess current assets for funding, a conservative approach towards debt management policy. On the other hand, taxation items were not highly significant in capital structure decisions. The results indicate the existence of gearing differences between the main board and the second board gearing with high debt levels employed by second board companies. However, the second board's high gearing is dominated largely by short to medium term bank credit. Differences were also significant between different sectors of companies listed on the main board. Firms' gearing ratios increased significantly following the 1997 financial crisis, and the gearing tended to increase where the company's share prices were highly sensitive towards currency volatility. Also inflation is found to influence the changes in actual and target gearing ratios following the crisis. Recent emphasis on the development of private debt securities may affect the findings of this research in the near future.

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Tang, Chi Man. "East Asian Crisis 1997 - 98 : some ideas about its evolution and consequences." Thesis, University of Macau, 2003. http://umaclib3.umac.mo/record=b1636257.

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Manason, Piyasak. "The Asian financial crisis : fundamental weakness, contagion and central bank policy consistency." Thesis, University of Newcastle Upon Tyne, 2005. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.413962.

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31

Yoon, Sung-Wook. "Foreign exchange exposure of Korean corporations before and after the Asian crisis /." free to MU campus, to others for purchase, 2003. http://wwwlib.umi.com/cr/mo/fullcit?p3091986.

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32

Wong, Chun Wa. "The onset of the East Asian economic crisis : a real sector approach." HKBU Institutional Repository, 2001. http://repository.hkbu.edu.hk/etd_ra/277.

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33

Olsson, Therése. "Institutional Reform : The Case of Malaysia, Indonesia and Thailand During the Asian Crisis." Thesis, Jönköping University, JIBS, Political Science, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-11655.

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Yanamandra, Srinivas. "Finanical instability, regulatory reforms and bank governance : lessons from the East-Asian financial crisis." Thesis, University of Manchester, 2014. https://www.research.manchester.ac.uk/portal/en/theses/financial-instability-regulatory-reforms-and-bank-governance--lessons-from-the-eastasian-financial-crisis(504b6532-6b96-4692-9a4e-1f1854026a7a).html.

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Purpose – The purpose of this research project is to explore the research question – how does the pursuit of agenda of regulatory reforms, post the crisis, influence governance arrangements at banks and assist them in maintaining resilience during subsequent episodes of crises?Research methodology – The project adopts a comparative case study approach involving a mixture of review of secondary resources and fieldwork interviews across East Asian nations. Findings – The project applied the Minskian Financial Instability Hypothesis to the 1997 East Asian crisis. It explored the macro-economic and policy environment during 1990s for highlighting institutional failures at the heart of the crisis. The interview findings offered contextual setting and diverse perspectives for regulatory reforms aimed at improving bank governance, post the crisis. The experience of case study banks outlined the impact of regulatory reforms on banking business models, post the crisis. The role of post-1997-crisis regulatory reforms in bringing about East Asian resilience, during the 2007 crisis, is thus analysed in the research project. Practical implications – The research project provides emerging economy perspective to regulatory reforms and offers policy-level recommendations for banks, regulatory authorities, corporate borrowers, and statutory auditors in maintaining governance standards conductive to financial stability in the long run. Originality – The project claims originality of application, interpretation and evaluation (which are considered as building blocks for “academic contribution”) of an important academic theory in the context of financial crises – Minsky’s Financial Instability Hypothesis. It integrates the aspects of financial instability, regulatory reforms and bank governance in the context of East Asian financial crisis by introducing the concept of “economic responsibilities” of market participants from emerging economies.

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Osangthammanont, Anantachoke. "Investment and financial constraints evidence from Thailand at the time of the Asian crisis /." Full text available online (restricted access), 2003. http://images.lib.monash.edu.au/ts/theses/Osangthammanont.pdf.

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Purwanto, Nur M. Adhi. "Essays on macroeconomic policy mix for the emerging Asian economies : post global financial crisis." Thesis, University of Nottingham, 2017. http://eprints.nottingham.ac.uk/45111/.

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The emerging Asian economies have different financial system characteristics and exposure to shocks from the advanced economies, but the discussion regarding the role of monetary and macroprudential policies mainly revolve around the same issues. The first one is relating to the lack of understanding of macroprudential policy’s transmission mechanism. The second one is about the role of monetary policy as a financial stabilisation instrument. The third one concerns the interaction between monetary and macroprudential policies as macroeconomic and financial stabilisation instruments. Due to the vulnerabilities of the emerging Asian economies to the volatility of capital inflows, the discussion also involves the role of the capital flow management policy as part of the stabilisation instruments. Utilising a small open economy model that has been designed and calibrated based on the emerging Asian economies characteristics, this research contributes to the discussion on the above issues by studying the transmission of monetary, macroprudential and capital flow management policies and their interactions in facing a certain dominant shock driving the disturbances in the economy, evaluating the macroeconomic and financial stabilisation performance of the policy strategies that combine different policy instruments, and examining how the welfare of economic agents are affected by the implementation of these policy strategies. Model simulations show that not all countercyclical instruments can be used effectively in every shock. There are conditions in which the implementation of macroprudential policy can complement monetary policy to achieve macroeconomic and financial stability, but there are also conditions in which it may be preferable for the policymakers not to implement them. Understanding how a certain shock propagates in the economy and the nature of the interactions among the policy instruments in facing that particular shock are necessary for designing the optimal policy mix that can improve both macroeconomic and financial stability.

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Duangkhwan, Hasanaphong. "The Asian Financial crisis : Effects on the Thai Agricultural sector and the prospects for recovery." Thesis, University of Liverpool, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.511079.

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de, Somer Gregory John Humanities &amp Social Sciences Australian Defence Force Academy UNSW. "The Redefinition of Asia : Australian Foreign Policy and Contemporary Asian Regionalism." Awarded by:University of New South Wales - Australian Defence Force Academy. School of Humanities and Social Sciences, 2003. http://handle.unsw.edu.au/1959.4/38666.

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This thesis set out to ascertain the position of recent Australian Governments on the latest instalments of Asian regionalism in the context of an assessment of whether there has been a redefinition of Asia and thus a redefinition of Australia???s engagement with Asia. It will concentrate on the broad themes of politico-strategic and economic engagement. Whilst there has been extensive research and documentation on the Asian economic crisis there has been less work on the issue of a new Asian regionalism and the implications for Australia???s complex and variable engagement with the region. This is the basis for the claim to originality of this thesis, a claim supported by its focus on the practical and policy implications of Australia???s engagement, or lack of it, with regional institutions. The process of regional integration has been extremely slow, thus supporting the conclusion that there is no evidence of a major redefinition of Asia. Efforts at Asian regionalism are meeting obstacles that pose immense challenges. Asian regionalism remains nascent and poorly defined. This reflects the diversity and enormous disparities in cultures, political systems and the levels of economic development and differences over economic philosophies within East Asia. What is discernible is that the regionalism is proceeding more rapidly on financial issues than on trade, and in the security area it is conspicuously absent. This research highlights the fact that the question of Asian engagement remains a sensitive issue in Australia and continues to grow more complex. Australia???s engagement with Asia since 1996 has been variable because of the Howard Government???s broader balance of priorities between global and regional issues, and because of the changing nature of the Asian region. The perception gleaned from sources is that, for the Australian Government, regionalism initiatives are characterised by much discussion but lack substance. Consequently, this appears to have led the Government to the position that exclusion from some manifestations of regionalism is not so important. Australia is excluded from some of the regional architectures being constructed. In its efforts to seek inclusion in ASEAN + 3 and ASEM, Australia is facing the same barriers that have stood in the way of an AFTA-CER agreement. Exclusion would be important if the performance of regional groupings was not so indifferent. Exclusion from ASEAN + 3 and ASEM, however, does not equate to Australia???s exclusion from the region.

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Hogan, Mary Vivianne. "Sovereignty, state and security after the Asian financial crisis: the cases of Indonesia and South Korea." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2004. http://hub.hku.hk/bib/B31245365.

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Sato, Yasunobu. "Commercial dispute processing : the Japanese experience and future." Thesis, University of London, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.313405.

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Glommen, Andersson Elin, and Alexander Severin. "The Impact of Trade Openness on Gross Domestic Product : A study of the Asian Financial Crisis." Thesis, Jönköping University, JIBS, Economics, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-8038.

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This bachelor thesis in economics examines the Asian financial crisis, the impact on the countries in the region and how well they recovered financially. The countries that are taken into consideration are Japan, Indonesia, South Korea, Philippines, Thailand, Malaysia and Singapore. The variables used to explain the implications of the crisis are GDP, trade openness, unemployment and current account.

Descriptive statistics show that the most closed economy that was affected by a current account reversal was also the hardest hit in terms of GDP. The statistics also show that all the countries under observation have recovered to their situation prior to the crisis in terms of GDP, but not in terms of the level of unemployment.

Two regressions that were performed showed the relation between trade openness and the effect of GDP after the crisis, and the relation of trade openness to growth after the crisis. The regressions show that the more closed an economy is the larger the effect of a crisis. At the same time these countries had the highest growth rates after the crisis and were also among the first to recover. Theoretical reasons for these results are given.

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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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43

Kim, Seungwon. "What caused the Asian currency crisis?" 2000. http://catalog.hathitrust.org/api/volumes/oclc/49389688.html.

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44

Rongala, Sunil. "Capital controls and the Asian currency crisis /." 2003. http://www.gbv.de/dms/zbw/558274943.pdf.

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Lu, Chiou-yuan, and 呂秋遠. "The Political Economy of Asian Financial Crisis." Thesis, 2004. http://ndltd.ncl.edu.tw/handle/06595305315477682095.

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博士
國立臺灣大學
政治學研究所
92
The Global business cycle has been recovery gradually. However, the global economy was in depression since 1997. For understanding the reason, we have to trace back Asian Financial Crisis. We assume that the institutional change initiators (interest group or government) and the institutional change patterns (induced institutional change and imposed institutional change) are highly related. The patterns of institutional change lead to institutional changes while the institutions change behavior patterns and finally cause the event. We argue that huge amount of short-term capital flows is the main reason of the crisis. In this dissertation, we examine six empirical cases to illustrate what type of institutional change pattern the Asian financial liberalization is and why the Asian governments adopted the pattern. To prove the hypothesis is correct, we analyze four serious-damaged countries during Asian financial crisis: Malaysia, Indonesia, South Korea and Thailand; while we also discuss two slight- damaged countries: Taiwan and China as comparison. From these cases, we may extract the most important factor by comparative methodology and organize a theoretical framework. The dissertation would like to answer the following questions: For New- Industrialized Countries (NICs), what kind of institutional choice will bring the economic recession and why it brings the depression? There are several variables in our assumption: the institutional change initiator, the patterns of institutional change, the modes of institution and the behavioral patterns. In the assumption of Neo-institutionalism, the main initiators of institutional change are state and organizations. The former could be government (bureaucrats) and the later may be organizations (interest groups). The patterns of institutional change are imposed institutional change and induced institutional change。The former pattern keeps the institutions remain public while the later transfers institutions into private goods. The following definition is the modes of institution: the financial institutions in East Asia countries could be financial liberalized system and financial regulated system. Malaysia (before September 1998), Indonesia, Thailand and South Korea adopted the developmental strategy and opened the financial boundary; while China and Taiwan adopted the restricted financial openness system. From the view of globalization, the financial liberalization is more efficient than the financial regulated system; however, the way the system changed makes the results different. The induced institutional change will transfer the public good into private one, and the market failure will exist in the market. The financial liberalization becomes the private goods of some specific people to obtain foreign capital. When the economic index became weak, the unstable capital fled and caused economic depression. We demonstrate the institutional and non-institutional factors to explain Asian Financial Crisis in literature review. The institutional factors illustrate the relationship among political, economic institutions and economic performance in new industrial countries, while the non-institutional factors exclude the political and economic institutional variables. We use financial institutionalism, regime type, globalization (financial liberalization and capital flow)(institutional approach), cultural condition (crony capitalism), total productivity factors and the macroeconomic condition before the crisis (non-institutional approach). In our literature review, we find that the regime capacity and the financial liberalization are the active evidences to explain why the Asian Financial Crisis might happen. The property rights concept of the institutional approach is used to explain how the Asian governments interact with the enterprises and the relationship between the financial liberalization and the short-term capital flows. In chapter 2, we analyze four cases: Malaysia, Indonesia, South Korea and Thailand. Despite the developmental strategies of these countries are different, they are induced to adopt the same way to ‘liberalize’ the financial boundary. The first example is Malaysia. After Dr. Mohamad Mahathir became the premier in 1981, the government adopted the New Economic Policy (NEP) to stabilize and stimulate economic growth. This new developmental model was imitated by other Southeast Asia countries. Meanwhile, the economic growth creates a new class which is formed by mainly rich Malaysians. After Anwar Ibrahim stepped on the political stage, these people are adherent to Anwar for changing the industrial and financial policies. In 1997, the economic growth was shutdown by the huge amount of capital outflow. In the beginning, the economic power was still controlled by Anwar, but he was not trusted by Mahathir after 1 year because of his agreement with IMF. Mahathir grasped the power again and imposed strict financial regulations. It symbolizes the initiative power for institutional change was switched swiftly from the interest group to the bureaucrats. The condition in Indonesia is quite similar to Malaysia. Under the period of Thojib Suharto’s ‘New Order’, the Indonesian and Chinese enterprisers are allies of Suharto. After 1990s, the induced institutional changes became significant and the financial boundaries were opened under the pressure of interest groups and international powers. When the economic situation was seriously damaged, Suharto moved his power to the vice president and stepped down. However, the economic, political and racial situations are still in chaos. After B. J. Habibie stepped down, the political succession was still unstable. The opposition party candidate: Abdurrahman Wahid took the presidential position but soon (2 years later) replaced by Megawati Sukarnoputri. The political situation in Indonesia is always disarrayed and the economic growth is low. The Indonesian government accepted the rescue package but it failed to reform the crony structure. Because the interest groups in Indonesia are still in the power to control the institutional change, the economy is still in depression. The third case is South Korea which was in crisis in the term of Kim Young Sam. After Kim, Kim Dae Jung won the presidential position. He was the leader of the opposition party for the past years before he became the president and has little relationship with the chaebols. Under the determination and action of Kim’s government, the chaebols are divided into small enterprises or shaped into a less scale. He didn’t spend the government budget to save the large individual enterprise. The way South Korea reform is taking back the initial power of institutional change thus improves the economic growth. The last example is Thailand; it reformed the financial structure according to the IMF remedies. The IMF rescue package saved the economic depression and crackdown the crony banking groups. The four examples were positive in response the assumption of the dissertation. We introduce two slightly damaged countries (Taiwan and China) during the Asian financial crisis in the third chapter. Chinese government started the economic reform after 1978 but the state enterprises are still the main actors in the economic system. There are only few capitalists in China and they can’t influence the state machine to change the government policies. Generally speaking, the future of Chinese economy is still in the control of Chinese communists’ party and the bureaucrats. In other words, the initial power of institutional change remains in the state. The Taiwanese government didn’t create the conglomerates but While the conglomerates enlarge because of the state’s economic policies, they start to centralize the power into few units (usually families). When the conglomerates gather enough power, they start to share and grasp the economic power from the government. No matter in authoritarian or democratic regimes, they need the support from the centralized conglomerates. Throughout the politicians, they control the decision- making process. In other words, the Asian developing countries were losing the state autonomy gradually. The financial policies should be the public goods in all countries, while in these countries; they are private goods, only beneficial to few interest groups. Therefore, the financial liberalization is premature for these countries. If the state autonomy is strong enough, the regimes will close the financial boundary for the reason of state (such as China). However, the financial liberalization is advantageous to the conglomerates for attracting foreign capital. Finally, the banker is on the conglomerates’ side. In Taiwan, the KMT government’s earlier developmental strategies didn’t create conglomerates which could influence politics. The main composition of Taiwanese economy is mid-small scale enterprises. After 1990s, the local fictions and the ‘black- gold’ politics spread speedily while the financial regulations were still strict. We analyze the two cases for understanding why the financial crisis could be controlled under bureaucratic institutional change. The Chapter four will integrate the six cases into the framework. We trace back the Asian industrial policies and the linkage with the development of the conglomerates. The conclusion is that the crony institutional change caused the financial liberalization which leaded the huge amount of capital flows. In developing countries, the institutional change should be under the bureaucratic control .

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46

Kuo, Yi-Ting, and 郭怡婷. "From Financial Account to Asian Currency Crisis." Thesis, 2004. http://ndltd.ncl.edu.tw/handle/74353958874889460030.

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碩士
國立政治大學
經濟研究所
92
The 1997 East Asian Crises had made exchange rate depreciations and bank bankruptcies. Broadly speaking, it can be divided into currency crisis and banking crisis. Nominal exchange rate of any season in a year, which is depreciated over 25% and 10% than last season, is called a currency crisis. Lots of papers demonstrate that overvaluation is a precursor of a currency crash. Furthermore, developing countries have opened capital markets so rapidly that it became the tinderbox of crises. To analyze the phenomenon, this thesis first compile Taiwan’s financial weighted real effective exchange rate index, then examine exchange rates, relative prices (compare to American consumer price index), and net financial account of Taiwan, Indonesia, Korea, Philippine, and Thailand with cointegrated test to identify the long run equilibrium relationships between variables; then adding error terms into models to estimates vector error correction model (VECM). The empirical results show that financial account and relative price influence exchange rate significantly.

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47

Huang, Shu-Mei, and 黃淑梅. "Exchange Rate Exposure and Asian Financial Crisis." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/25973487198300957518.

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碩士
國立中央大學
財務金融研究所
93
The purpose of this paper is to examine the exchange rate exposure of industry portfolios in Indonesia, Korea and Thailand before and after the Asian crisis. We follow the methodology suggested by Adler and Dumas (1983), and our study period is from July 1989 to June 2004. We find that industry portfolios in all three countries show significant exposure coefficients to exchange rate fluctuations when considering the potential correlations between the market returns and the changes in exchange rates. In addition, the exchange rate regimes and distinct economic events such as the currency crisis have significant influences on most industry sectors in these countries. Finally, the empirical results show that some industry sectors are affected by the Asian financial crisis.

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48

Chang, Kuanglian, and 張光亮. "Asian Financial Crisis---------fundamental weakness v.s contagious." Thesis, 1999. http://ndltd.ncl.edu.tw/handle/10066406976150018193.

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49

Yang, Shu-Fen, and 楊淑芬. "Efficiency of Important Asian Index Futures Markets─The Influence of Asian Financial Crisis." Thesis, 2000. http://ndltd.ncl.edu.tw/handle/68284534548260225280.

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碩士
朝陽大學
財務金融系碩士班
88
The efficiency of futures market is an important issue for market part-icipants, since the performance of futures markets depends on market effic-iency. International investors pay much attention not only to Asian stock markets, but also to the futures markets. The objective of the study inve-stigate the Asian futures market’s efficiency and unbiasedness. A coint-egration approach under the distributed lag and adjusted expectation model was applied to the index futures markets for Nikkei Stock Average (225), Hang Seng Index, Kospi 200, MSCI Taiwan Stock Index and Taiwan Stock Exchange Capitalization Weighted Stock Index. In addition, a dummy va-riables were included in models to test the effect of the Asian financial crisis on the price behavior. If spot and futures prices are non-stationary, we have to use cointegra-tion approach to estimate models and test hypotheses. The empirical results are as follows: ﹝1﹞ All stock-price-index futures were all non-stationary. Futures and spot prices are stationary after first order differentiation. ﹝2﹞There existed co-integrated relationship between futures and spot prices for all markets. ﹝3﹞Did not reject, Kospi 200, Nikkei 225, and MSCI Taiwan Stock Index did not reject the hypothesis of market efficiency with 1% significance level; however Hang Seng Index did. ﹝4﹞All futures prices were unbiased for casters of associated future spot pr-ices in the long term. ﹝5﹞The price behavior of Nikkei 225, Hang Seng Index, Kospi 200 and, MSCI Taiwan Stock Index markets were affected by Asian financial crisis.

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50

Liu, Hon-Jen Justin, and 劉弘仁. "Forecasting of Asian Emerging Stock Market Returns and the Effects of Asian Crisis." Thesis, 2000. http://ndltd.ncl.edu.tw/handle/74592303437156685487.

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