The Performance of East Asian Economies and Financial Markets since the 1997 Financial Crisis

Alternative Title

The Effects of Financial Crisis on East Asian Economics and Financial Markets

Publication Type

Journal Article

Publication Date

6-2003

Abstract

This paper documents the economic and financial recovery of East Asia based on its real GDP, export, currency value and stock performance since the 1997 financial crisis. A macroeconomic model is used to estimate the chain effect of international trade on Asian recovery. It is found that the U.S. economy had a significant impact on the recovery of this region through close international trade relationship. Two major factors appear to explain the recent rapid recovery: (1) strong U.S. economic growth and currency value, and (2) the current account surplus and net inflow in foreign direct investment of crisis-hit countries.

Keywords

Asian financial crisis, contagion, recovery

Discipline

Asian Studies | Business | Finance and Financial Management

Research Areas

Finance

Publication

Review of Pacific Basin Financial Markets and Policies

Volume

6

Issue

2

First Page

113

Last Page

140

ISSN

0219-0915

Identifier

10.1142/S021909150300102X

Publisher

World Scientific

Additional URL

https://doi.org/10.1142/S021909150300102X

This document is currently not available here.

Share

COinS