Crisis Amidst Growth

Lessons to Learn from Crisis 1997
  • Henry Y. WanJr.

Abstract

Crisis 1997 was the last of the three financial shocks of the 1990s. Three characteristics contributed to the shock value of this episode: its abrupt onset, its virulence against apparently healthy economies, and its widespread reach. It is useful to identify these characteristics both in order to diagnose the problem and to prescribe a remedy. One needs a thorough understanding of the menace in order to prevent its recurrence; no stone must be left unturned. Our attention here focuses on the three aspects mentioned above.

Keywords

Depression Income Malaysia Volatility Defend 

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References

  1. 5.
    Chang (1998: 227).Google Scholar
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    See for example, Allen and Gale (2000).Google Scholar
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    See Coe, Helpman and Hoffmaister (1997).Google Scholar
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    See Lucas (1993).Google Scholar
  5. 10.
    Compare Stiglitz (2002). By extension,’ shock therapy’ is of dubious merit for the transition economies. See Wan (1992).Google Scholar
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    See Mahathir (1999).Google Scholar
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    SeeLauridsen(1998).Google Scholar

Copyright information

© Springer Science+Business Media New York 2004

Authors and Affiliations

  • Henry Y. WanJr.

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