Managing Financial Crises: The Experience in East Asia

ByTimothy D. Lane, A. J Hamann, Marianne Schulze-Gattas, Steven T Phillips, Atish R. Ghosh, Alex Mourmouras, Jack Boorman

June 1, 2000

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management and the way that strategy was implemented, including with regard to official and private financing, structural reforms, and monetary and fiscal policies.

Subject: Credit, Currencies, Exchange rates, Financial crises, Foreign exchange, Monetary policy, Monetary tightening, Money

Keywords: Asia and Pacific, broad money, Credit, credit crunch, Currencies, current account, East Asia, East Asian financial crisis, economic activity, Exchange rates, financial support, funding crisis, IMF, Monetary tightening, nominal exchange rate, short-term debt, WP

Pages:
66
Volume:
2000
DOI:
https://doi.org/10.5089/9781451852974.001
Issue:
107
Series:
Working Paper No. 2000/107
Stock No:
WPIEA1072000
ISBN:
9781451852974
ISSN:
1018-5941

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