Growth in developing Asia is holding up against external headwinds. Robust domestic demand supported the region's large economies, and oil prices above expectations boosted prospects for many oil and gas exporters. Consumer prices are picking up with rising global fuel and food prices, but moderate inflation in several Asian economies has kept the regional average in check. Downside risks to the outlook are intensifying. If tightened more than investors...
Two Crises, Different Outcomes examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008-9 and the Asian financial crisis of 1997-98. The calamity of the late 1990s saw a massive meltdown concentrated in East Asia. In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed...
The 1997 Asian financial crisis hit the region and became a defining moment for Asia and the Asian Development Bank (ADB). As ADB participated in coordinated crisis responses, Asian policy makers used this opportunity to reassess their economic policies in a fundamental way. This volume presents how ADB met the challenges during the fourth decade of designing strategies to respond to rapid changes in the region following the Asian financial crisis,...
Discover how the Asian financial crisis of 1997, the Great Recession of 2008, and the Greek debt crisis of 2009 each, in their own way, highlight the interconnected nature of today's new global economy. As you'll learn, the two economic changes we now face include a new phase of globalization and the reorientation of capitalism toward debt-driven growth.
Geopolitical intrigue, brutal riots, murder, mystery, and corruption - The Noah Principle intricately fuses a real-time depiction of the ruinous 1997-98 Asian Financial Crisis with a carefully crafted literary thriller examining ethnic discord in South-East Asia. Two young expats unwittingly compromise their future. A wealthy financier seeks to conceal the sins of his past. Economic chaos drags Indonesia to the brink of another self-destructive...
Geopolitical intrigue, brutal riots, murder, mystery, and corruption - The Noah Principle intricately fuses a real-time depiction of the ruinous 1997-98 Asian Financial Crisis with a carefully crafted literary thriller examining ethnic discord in South-East Asia. Two young expats unwittingly compromise their future. A wealthy financier seeks to conceal the sins of his past. Economic chaos drags Indonesia to the brink of another self-destructive...
What are the mechanisms that drive international finance? Does worldwide capital mobility destabilize the global economy? Do the benefits to investors outweigh the potential for monetary crises? This program illustrates the flow of international capital, analyzes the risks it presents to banking and currency systems, and studies international political structures created to address those risks. The video presents the pros and cons of financial globalization,...
This publication is a history of the partnership between Indonesia and the Asian Development Bank (ADB). When Indonesia became a founding member of the bank in 1966, the country faced daunting challenges. In the five decades that passed, both Indonesia and ADB have evolved in remarkable ways. Indonesia developed rapidly through the late 1990s yet faced a difficult time of adjustment after the Asian financial crisis of 1997-1998. The country has since...
Offers a study of Asia and how it is reshaping world affairs, tracing the origins and impact of the Asian financial crisis, the growing roles of women, and the region's increasing economic, diplomatic, and military influence.
Set in Singapore during the 1997 Asian financial crisis, Ilo Ilo chronicles the day-to-day drama of the Lim family and their live-in maid Teresa, a Filipino immigrant. An outsider in both the family and Singapore itself, Teresa initially struggles to find her footing in her new community. Just as Teresa becomes an unspoken part of the family, unforeseen circumstances in an uncertain economy will challenge the new normal yet again. Winner - Camera...
The international monetary system has changed radically in the last twenty years. Capital, information, goods, and services move around the globe with unprecedented ease. Countries from the former communist bloc have joined the system. Europe is on the verge of monetary union. Financial crises in East Asia and Mexico have rocked the world economy. In this book, Robert Solomon--author of the definitive history of the monetary order between 1945 and...
Set in Singapore during the 1997 Asian financial crisis, Ilo Ilo chronicles the day-to-day drama of the Lim family and their live-in maid Teresa, a Filipino immigrant. An outsider in both the family and Singapore itself, Teresa initially struggles to find her footing in her new community. Just as Teresa becomes an unspoken part of the family, unforeseen circumstances in an uncertain economy will challenge the new normal yet again.
Effective corporate governance, or the set of controls and incentives that drive top management, originates both outside and inside the firm and assures investors who hope to commit their capital. Essential when buying stocks in one's own country, effective corporate governance is even more important abroad, where information can be less reliable and investor influence (or protection) more limited. In this collection of articles from the Journal of...
The Asian financial crisis of 1997-1998 was supposed to be the death knell for the developmental state. The International Monetary Fund supplied emergency funds for shattered economies but demanded that states liberalize financial markets and withdraw from direct involvement in the economy. Financial liberalization was meant to spell the end of strategic industry policy and the state-directed "policy lending" it involved. Yet, largely unremarked by...
Indonesia's gross domestic product growth rate declined significantly after the Asian financial crisis (AFC) of 1997-1998. The country's potential and balance-of-payments growth rates are only about 5.5% and 3%, respectively. One important reason is that the country's industrialization pace declined after the AFC. Today, Indonesia is still exporting many unprocessed natural resources and simple manufactures (not complex products) with a low income...
Middle-class Chinese women in the global city of Hong Kong have entered the workforce in unprecedented numbers over the past three decades, and the demand for foreign domestic workers has soared. A decade ago some foretold the decline in foreign workers and the influx of mainland workers. But today over 120,000 women from the Philippines, over 90,000 from Indonesia, and thousands more from other parts of South and Southeast Asia serve as maids on...
"For a decade Russia has been dismantling communism and building capitalism. Describing a deeply flawed fledgling market economy, Capitalism Russian-Style provides a progress report on one of the most important economic experiments going on in the world today. It describes Russian achievements in building private banks and companies, stock exchanges, new laws and law courts. It analyzes the role of the mafia, the rise of new financial empires, entrepreneurs...
A great burst of globalization brought the 20th century to a close, creating upheaval in the world economy from roughly 1995 to 2008. And now a second upheaveal is in the offing following the severe financial crisis that plunged the global economy into recession in 2008-09. The first upheaval witnessed a massive migration of manufacturing and certain business services that transformed Asia into the industrial heartland of the world. The second upheaval...
Kent E. Calder is director of the Reischauer Center for East Asian Studies at the Johns Hopkins University School for Advanced International Studies, a faculty member at the university's Paul H. Nitze School of Advanced International Studies in Washington, D.C., and served as special adviser to the U.S. ambassador to Japan from 1997 to 2001. His books include Pacific Defense: Arms, Energy, and America's Future in Asia (William Morrow), Strategic Capitalism...