haku: @journal_id 770 / yhteensä: 65
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| Tekijä: | Shishido, S. Nakajima, T. |
| Otsikko: | Asian currency crisis and the role of Japan |
| Lehti: | Developing Economies
1999 : MAR, VOL. 37:1, p. 3-34 |
| Asiasana: | Currency Economic crisis Asia Japan IMF |
| Kieli: | eng |
| Tiivistelmä: | In this paper, the currency crisis of Asia which began in 1997 is analyzed within multi-sectoral world econometric model. Three Asian economies, that is, the Republic of Korea, Indonesia, and Thailand which accepted the IMF emergency aid program are examined in the context of the East Asia and the world economy. After reviewing the various impacts of the currency crisis on output, trade, and the balance of payments in the Asian and world economies, three Japanese policy packages for recovering from the crisis are proposed and evaluated. These are (a) the promotion of Japan's domestic demand and imports, (b) the yen's appreciation to stimulate Asian exports, and (c) a dramatic increase in Japan's ODA to the said three Asian countries. The third package is concluded to be the most effective as it directly stimulates not only their exports but also domestic demand. |
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