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The Asian Financial Crisis: Causes, Contagion and Consequences: 2 Reissue Edition
Author(s): Agenor et al (Author)
- Publisher: Cambridge University Press
- Publication Date: 12 Jan. 2008
- Edition: Reissue
- Language: English
- Print length: 448 pages
- ISBN-10: 0521029007
- ISBN-13: 9780521029001
Book Description
Presents the first theoretical analysis of the Asian financial crisis and draws out the general lessons of an event whose potential long term effects have been likened to those of the Crash of 1929. Part I presents a factual and analytic overview of what happened: the role of ‘vulnerability’; the interconnection between currency crises and financial crises; and why crisis turned into collapse. Part II considers more detailed issues, including how the inflation of non-traded goods prices created vulnerability, welfare-reducing capital inflow owing to under-regulated financial markets, and the onset of speculative attacks. Part III assesses all aspects of contagion, in particular the role of geographic proximity. The final section addresses policy issues. Joseph Stiglitz argues that there is much that can be done to reduce the frequency of crises and to mitigate the severity of crises when they happen. The book finishes with a round-table discussion of policy issues.
Editorial Reviews
Book Description
The first theoretical analysis of the Asian financial crisis, perhaps the single most important economic event of the 1990s.
