East Asia: The Road to Recovery
World Bank, Jan 1, 1998 - Business & Economics - 138 pages
East Asia: The Road to Recovery carefully analyzes the events that led to the current economic crisis in East Asia, the tremendous effects the crisis has had on the Asian economies, and prospects for the region's future. Chapters in the book cover the region's trade and competitiveness; the financial sector at the center of the crisis; the corporate sector's financial performance and governance; the social crisis resulting from the financial crash; protection of the environment as well as the people; and policies for sustainable recovery. This book not only discusses how this catastrophe could ever have taken place, but more importantly, what can be done to ensure that it won't happen again.
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Conclusions and organization of this study
Prospects and policies
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20 percent adjustment Asia's assets banking system billion borrowing capital flows chaebols cial competitiveness corporate governance corporate sector costs coun credit crunch crisis countries currency debt decline demand depreciation devaluation developed domestic East Asia East Asian countries effects employment environmental equity exchange rate exports figure finance companies financial crisis financial institutions financial sector financial systems firms fiscal foreign direct investment foreign exchange foreign investors funds Gini coefficients global Hong Kong China households impact important improve incentives income increase Indonesia industrial inequality inflows interest rates investment Japan Korea labor market levels leverage loans macroeconomic Malaysia ment nomic non-performing loans Philippines policies poor poverty poverty line problems programs protect ratio recapitalization recovery reduce reforms region risks rural share shareholders shocks short-term Singapore social Source structural Thailand tion trade U.S. dollar urban vulnerable World Bank World Bank staff YES YES