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Financial Crises of Latin America and East Asia: A Comparison

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dc.contributor.author Bhatt, P.R.
dc.date.accessioned 2015-04-22T07:36:22Z
dc.date.available 2015-04-22T07:36:22Z
dc.date.issued 2002-06
dc.identifier.uri http://hdl.handle.net/2259/387
dc.description.abstract There are similarities and differences between the Latin American and East Asian Crises. The economies of the regions had displayed a robust performance before the crisis. There were massive foreign capital inflows in both the regions before the crisis. The massive inter-bank credit had played a major funding role in East Asia whereas the bank credit went to public and publicly guaranteed projects in Latin America. The Latin American countries did not use the borrowing to develop resources, especially export industries adequate for furture debt servicing. The foreign borrowings were used to cover current account deficits. There were also used to cover the huge losses of public sector units. In East Asia, a substantial part of the capital was channelled to unproductive and high-risk ventures such as real estate. Many property owners artificially inflated teh value of their assets and kept borrowing against them and most real estate companies had a poor cash flow. en_US
dc.language.iso en en_US
dc.publisher Man & Development en_US
dc.subject Financial Crises en_US
dc.subject Latin America en_US
dc.subject Foreign Direct Investment en_US
dc.title Financial Crises of Latin America and East Asia: A Comparison en_US
dc.type Article en_US

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  • Journal Articles [16]
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