Mitigating the Social Costs of the Economic Crisis and the Reform Programs in Asia

By Marijn Verhoeven, Sanjeev Gupta, Gerd Schwartz, Calvin A McDonald, Željko Bogetic, Christian Schiller

June 1, 1998

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Marijn Verhoeven, Sanjeev Gupta, Gerd Schwartz, Calvin A McDonald, Željko Bogetic, and Christian Schiller. Mitigating the Social Costs of the Economic Crisis and the Reform Programs in Asia, (USA: International Monetary Fund, 1998) accessed September 18, 2024

Summary

This paper presents a preliminary analysis of the likely social impact of the economic crisis and the reform programs in three Asian countries—Indonesia, Korea, and Thailand. The focus is on likely changes in real consumption expenditures arising from higher inflation and increases in unemployment. The current social policy measures adopted in the reform programs should provide significant social safety nets for the poor. However, if the social impact turns out to be larger than projected, it would be worthwhile to assess cost-effective and efficient alternatives for expanding social safety nets. The paper presents some options that could be considered.

Subject: Consumption, Household consumption, Income, Inflation, Labor, National accounts, Prices, Unemployment

Keywords: Asia, Asia and Pacific, Consumption, Household consumption, Household expenditure data, Income, Income distribution, Income share, Indonesia, Inflation, Nominal wage, PDP, Per capita income, Poverty, Poverty line, PPP terms, Price, Price change, Price increase, Social impact, Social safety nets, Thailand, Unemployment

Publication Details

Pages:

32
Volume:

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DOI:

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Issue:

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Series:

Policy Discussion Paper No. 1998/007
Stock No:

PPIEA0071998
ISBN:

9781451971408
ISSN:

1564-5193

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