The Asian Financial Crisis

Crisis, reform and recovery

By Shalendra Sharma

The Asian Financial Crisis

Book Information

  • Format: Paperback
  • ISBN: 978-0-7190-6603-0
  • Pages: 416
  • Publisher: Manchester University Press
  • Price: £18.99
  • Published Date: July 2003
  • BIC Category: Society & social sciences / Cultural studies, Economics, finance, business & management / Economic & financial crises & disasters, BUSINESS & ECONOMICS / Infrastructure, BUSINESS & ECONOMICS / Economic Conditions, Cultural studies, Economic systems & structures, Economics


The Asian financial crisis of 1997-98 shook the foundations of the global economy and what began as a localised currency crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies long considered 'miracles' respond? How did the United States, Japan and other G-7 countries respond to the crisis? What role did the IMF play?. Why did China, which suffers many of the same structural problems responsible for the crisis remain conspicuously insulated from the turmoil raging in its midst?. What explains the remarkable recovery now underway in Asia? In what fundamental ways did the Asian crisis serve as a catalyst to the current thinking about the "new international financial architecture"?. This book provides answers to all the above questions and more, and gives a comprehensive account of how the international economic order operates, examines its strengths and weaknesses, and what needs to be done to fix it.


1. Introduction: Issues, debates and an overview of the crisis
2. Thailand: crisis, reform and recovery
3. Indonesia: crisis, reform and recovery
4. Korea: crisis, reform and recovery
5. The domino that did not fall: Why China survived the crisis
6. Beyond the Asian crisis: the evolving international financial architecture
7. Conclusion: post crisis Asia: economic recovery, 11 September 2001and the challenges ahead


Shalendra Sharma is associate Professor of Political Science at the University of San Francisco

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