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This text opens with a discussion of the nature, causes and consequences of the Asian Financial Crisis (AFC). It examines the impact the AFC had as well as offers answers for the questions: why was the economic downturn so severe and why was the territory initially a laggard in economic recovery?
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Analysis of the financial crisis in East Asia has focussed on the most-affected East Asian economies, namely: Thailand … percent of the GDP of East Asia. Japan, which accounts for over 60 percent of regional GDP, has its own unique tale with … implications for understanding of the crisis, and so does the grouping of China, Taiwan and Hong Kong, which accounts for more than …
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This paper studies the catching-up process in per capita income of the so-called Asian Dragons and Tigers. It contributes to the literature in several ways. First, it tests the catching-up hypothesis using the longest time span ever considered, from 1870 to 2014. Second, it documents the...
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