Recovery and Sustainability in East Asia
Recovery and Sustainability in East Asia
This chapter examines the macroeconomic adjustment following the 1997 financial crisis in East Asia from a broad international perspective. It evaluates the impacts of the crisis on gross domestic product growth using a cross-country data set and identifies the critical factors that determine the adjustment process. The analysis reveals GDP growth rates drop with the eruption of a crisis but then recover quickly to the pre-crisis level in two or three years, showing a V-pattern of adjustment. This chapter also investigates the internal and external factors responsible for the deeper crisis and the quicker recovery in East Asia.
Keywords: macroeconomic adjustment, financial crisis, East Asia, gross domestic product, V-pattern of adjustment
Chicago Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.
