This book containing hope that in detailing the country's experience in handling the economic and financial turmoil, Malaysians will understand the very serious difficulty the country was in and appreciate the measures taken by the government to overcome the turmoil. It is also hoped that Malaysia's experience will provide invaluable lessons to other countries which might face similar situations.
In August 1998, the Asian currency crisis that had started in mid-1997 metastasized into a global financial crisis with the devaluation of the rouble and a declaration of a Russian Government default on its internal debt. Is this the first wave of such crises the world will see in the future? One common feature among the countries that have fallen victim to the crisis is that they were all…
Focusing on the impact of the 1997-99 economic crisis in Indonesia, the first part of this book discusses the economic situation in Indonesia, whilst the second elaborates on what happened to human capital during the crisis and the third examines its effect on purchasing power.
The global economy, on which the world now depends more than ever, is in crisis. The Russian economy has collapsed, leading to punishing inflation and economic hardship. Scores of Japanese banks are in ruin while the Japanese government muddles along, the nation falling deeper and deeper into recession. The once-booming economies of Thailand, Malaysia, and Indonesia have imploded. Brazil and th…
The current global financial crisis carries a “made-in-America” label. In this forthright and incisive book, Nobel Laureate Joseph E. Stiglitz explains how America exported bad economics, bad policies, and bad behavior to the rest of the world, only to cobble together a haphazard and ineffective response when the markets finally seized up. Drawing on his academic expertise, his years spent …
This volume represents a first dialogue between European and Asian Economists concerning the common outlook of the two continents following the financial crisis which struck Asia in 1997. The papers in this volume were presented at the ASEF/CEPII conference in Paris, May 1998 which brought together Asian and European Economists and economic practitioners for an open and critical appraisal of th…