Asia's economic crisis and the IMF

Author: Sharma, S.

Source: Survival, Volume 40, Number 2, 1998 , pp. 27-52(26)

Publisher: Routledge, part of the Taylor & Francis Group

Buy & download fulltext article:

Price: $29.27 plus tax (Refund Policy)

Abstract:

In summer 1997, the high-performing East and South-east Asian economies faced a financial crisis of unprecedented proportions. In a matter of weeks, once-vibrant economies and their strong currencies witnessed a meltdown, forcing them to turn to that lender of last resort, the International Monetary Fund (IMF), for assistance. A careful examination of the long-term as well as the immediate causes of the crisis refutes the widely held view that no one predicted the crisis. The crisis could have been avoided if the over-exuberant Asian governments had heeded the IMF's early warning. The IMF's policy prescriptions are not only working, but those states in the region that follow them will do best.

Document Type: Original article

DOI: http://dx.doi.org/10.1080/00396338.1998.10107834

Affiliations: 1: Department of Politics, University of San Francisco, San Francisco, USA

Publication date: 1998-01-01