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East Asian Financial Crisis: Alternative Approaches

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dc.contributor.author Bhatt, P.R.
dc.date.accessioned 2015-03-20T09:49:14Z
dc.date.available 2015-03-20T09:49:14Z
dc.date.issued 2000
dc.identifier.uri http://hdl.handle.net/2259/300
dc.description Prajnan 29(1): 7-30. en_US
dc.description.abstract East Aaian economies were considered as "miracle economies" because of their sustained high rate of economic growth during the last two decades. In 1997 these economies suffered financial crisis due to several reasons. An attempt has been made in this paper to give alternative approaches to explain the crisis. Financial and capital liberalization without a framework of prudential regulation caused the financial crisis of the East Asian countries. No Institutional and operational frame work exist for financial sector to function effectively under market conditions. These economies are not well equipped to absorb the shocks of capital liberalization. The financial crisis of East Asian economies fit the model of speculative cycles developed by Minsky. According to the model, foreign capital inflows intermediated through the banking system were used to fuel a boom in asset prices in equity and real estate. As a result, the stock and real estate prices shot up. The event of non-repayment of... en_US
dc.language.iso en en_US
dc.publisher Prajnan en_US
dc.subject Financial Crisis - East Asia en_US
dc.subject East Asian Economies en_US
dc.subject Economic Development en_US
dc.title East Asian Financial Crisis: Alternative Approaches en_US
dc.type Article en_US

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  • Journal Articles [54]
    This collection consists of published and unpublished articles of IIMK Community.

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