Liberalization, Growth, and the Asian Financial Crisis

Download or read book Liberalization, Growth, and the Asian Financial Crisis written by Mohamed Ariff and published by Edward Elgar Publishing. This book was released on 2000 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ariff (finance, Monash U., Australia) and Khalid (economics, National U. of Singapore) examine the effects of financial deregulation in the more advanced economies of southeastern Asia, and analyze the degree to which emerging and transitional economies of the region can benefit from their example. The currency crisis they attribute to simple weaknesses of the banking sector, and point out policies to avoid a similar episode in the future. Documenting the individual steps taken to deregulate the economies over a period of about two or three decades in several countries, they reveal that those countries that adopted such policies were rewarded with high growth and those unwilling to do so suffered poor growth and hence low social development. Therefore, they conclude, deregulation could not have led to the financial crisis, as so many have mistakenly suspected, and vulnerable poor countries should not hesitate to embrace it. Annotation copyrighted by Book News, Inc., Portland, OR