search query: @author Guan, Tao / total: 4
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| Author: | Guan, Tao |
| Title: | Not the only way out--exchange rate system and Asian financial crisis (original in Chinese) |
| Journal: | Intertrade (c)
1999 : 3, p.56-58 |
| Index terms: | EXCHANGE RATES FINANCIAL CRISES ASIA |
| Language: | chn |
| Abstract: | Asian financial crisis is from the hidden danger generated by economic overheating, investment excess and excessive capital influx during the past market economic development. Losing confidence in one's own country's economy and currency, the external and internal investor drew back their capital, which caused wide-margin devaluation of their own country's currency and currency collapse along with financial crisis. We should understand that, under global liberalization and integration of finance, we can not over-trust the promoting function of "exchange rate devaluation" for improving international payments; exchange rate adjustment is no longer the only way out to solve financial crisis. |
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