{"product_id":"the-asian-financial-crisis-causes-contagion-and-consequences-paperback-9780521029001","title":"The Asian Financial Crisis; Causes, Contagion and Consequences (Paperback \/ softback) 9780521029001","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe Asian Financial Crisis\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eCauses, Contagion and Consequences\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThe first theoretical analysis of the Asian financial crisis, perhaps the single most important economic event of the 1990s.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003ePierre-Richard Agénor (Edited by), Marcus Miller (Edited by), David Vines (Edited by), Axel Weber (Edited by)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521029001, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 2 November 2006\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e448 pages, 47 tables\u003cbr\u003e22.8 x 15.2 x 2.8 cm, 0.663 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003ePresents the first theoretical analysis of the Asian financial crisis and draws out the general lessons of an event whose potential long term effects have been likened to those of the Crash of 1929. Part I presents a factual and analytic overview of what happened: the role of 'vulnerability'; the interconnection between currency crises and financial crises; and why crisis turned into collapse. Part II considers more detailed issues, including how the inflation of non-traded goods prices created vulnerability, welfare-reducing capital inflow owing to under-regulated financial markets, and the onset of speculative attacks. Part III assesses all aspects of contagion, in particular the role of geographic proximity. The final section addresses policy issues. Joseph Stiglitz argues that there is much that can be done to reduce the frequency of crises and to mitigate the severity of crises when they happen. The book finishes with a round-table discussion of policy issues.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eList of figures\u003cbr\u003e List of tables\u003cbr\u003e Preface\u003cbr\u003e Acknowledgements\u003cbr\u003e Introduction Pierre-Richard Agénor, Marcus Miller, David Vines and Axel A. Weber\u003cbr\u003e Part I. General Accounts: 1. The role of macroeconomic and financial sector linkages in East Asia's financial crisis Pedro Alba, Amar Bhattacharya, Stijn Claessens, Swati Ghosh and Leonardo Hernandez\u003cbr\u003e Discussion Sule Ozler\u003cbr\u003e 2. The Asian crisis: lessons from the collapse of financial systems, exchange rates and macroeconomic policy Jenny Corbett and David Vines\u003cbr\u003e Appendix: Thailand, a stylised chronology\u003cbr\u003e Discussion Christopher Bliss\u003cbr\u003e 3. Are capital inflows to developing countries a vote for or against economic policy reforms? Michael P. Dooley\u003cbr\u003e Discussion Kenneth Kletzer\u003cbr\u003e 4. The Asian crisis: an overview of the empirical evidence and policy debate Giancarlo Corsetti, Paolo Pesenti, and Nouriel Roubini\u003cbr\u003e Appendix\u003cbr\u003e Discussion Richard Portes\u003cbr\u003e Part II. Theoretical Contributions: 5. Capital markets and the instability of open economies Philippe Aghion, Philippe Bacchetta and Abhijit Banerjee\u003cbr\u003e Appendix 1: solving the model in the Leontief case\u003cbr\u003e Appendix 2: why full financial liberalisation - unlike foreign direct investment - may destabilise an emerging market economy\u003cbr\u003e Discussion Gianluca Femminis\u003cbr\u003e 6. Volatility and the welfare costs of financial market integration Pierre-Richard Agénor and Joshua Aizenman\u003cbr\u003e Discussion John Driffill\u003cbr\u003e 7. A theory of the onset of currency attacks Stephen Morris and Hyun Song Shin\u003cbr\u003e Discussion Jonathan P. Thomas\u003cbr\u003e Part III. Contagion: 8. Contagion: monsoonal effects, spillovers and jumps between multiple equilibria Paul Masson\u003cbr\u003e Discussion Axel A. Weber\u003cbr\u003e 9. Contagion and trade: why are currency crises regional? Reuven Glick and Andrew K. Rose\u003cbr\u003e Appendix\u003cbr\u003e Discussion Mark P. Taylor\u003cbr\u003e 10. Competition, complementarity and contagion in East Asia Ishac Diwan and Bernard Hoekman\u003cbr\u003e Appendix\u003cbr\u003e Discussion Jenny Corbett and David Vines\u003cbr\u003e Part IV. Policy Responses: 11. Coping with crises: is there a 'silver bullet'? Amar Bhattacharya and Marcus Miller\u003cbr\u003e 12. Must financial crises be this frequent and this painful? Joseph Stiglitz\u003cbr\u003e 13. Round table discussion Richard Portes, Phillip Turner and Charles A. Goodhart\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Macroeconomics [\u003ca title=\"See our other books on Macroeconomics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Macroeconomics%20%5BKCB%5D%22\"\u003eKCB\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46006210789656,"sku":"9780521029001","price":34.39,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521029001i_5b982fb4-3462-4a84-8915-df161b2c7082.jpg?v=1694964839","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-asian-financial-crisis-causes-contagion-and-consequences-paperback-9780521029001","provider":"Freshly Printed Books","version":"1.0","type":"link"}