Asia's ‘Victorian’ Financial Crisis
MetadataShow full item record
Summary Like the European economic crises of the nineteenth and early twentieth centuries, the crisis in East Asia is essentially an overproduction crisis. As in other such episodes, the East Asian case was characterised by large current account deficits prior to the crisis. Capital flows were channelled into investment projects, yet the region's underdeveloped banking systems served to exacerbate liquidity fluctuations rather than limit them. IMF resources and demand management are essential for crisis management. In the long run, currency blocks may produce more stable currency arrangements.
CitationHowell, M. (1999) Asia's ‘Victorian’ Financial Crisis. IDS Bulletin 30(1): 56-73
Is part of seriesIDS Bulletin Vol. 30 Nos. 1
Rights holder© 1999 Institue of Development Studies
- Volume 30, Issue 1