The East Asian Crisis and International Capital Markets  

Oleh:

Elek, Andrew ; Wilson, Dominic

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Asian Pacific Economic Literature vol. 13 no. 1 (1999), page 1-21.
Topik: theoretical and empirical; international capital mobility; economies worst affected; volatile capital movements.
Fulltext: AA28_13_01_Andrew Elek(1).pdf (550.08KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: AA28 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper reviews the theoretical and empirical evidence about international capital mobility. The authors find that its potential benefits depend on certain assumptions about market structures and institutions. Many of these conditions were absent in the economies worst affected by volatile capital movements. The main features of the recent East Asian financial crisis are described, and the principal distortions that led to the crisis. In some instances, these distortions were due to government policies; in others, they stemmed from market failures that had not been adequately addressed either by individual governments or by international financial institutions.

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