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Crises in asia: Historical perspectives and implications

Title
Crises in asia: Historical perspectives and implications
Authors
Hong K.Lee J.-W.Tang H.C.
Ewha Authors
홍기석
SCOPUS Author ID
홍기석scopus
Issue Date
2009
Journal Title
ADB Economics Working Paper Series
ISSN
1655-5252JCR Link
Citation
vol. 152, pp. 1 - 30
Indexed
SCOPUS scopus
Abstract
The paper analyzes the stylized features of historical crisis episodes for 21 developing Asian economies over 1961-2007. The paper finds that while there is substantial diversity, on average, recessions and financial downturns are more frequent, longer lasting, and more severe in Asia than in the Organisation for Economic Co-operation and Development countries. The paper also finds that the likelihood and severity of a recession tends to increase when it is associated with credit crunches or stock market crashes. Severe financial downturns or recessions in the global economy are often coupled with financial crises or recessions in Asia. In view of the current global crisis and severe financial downturns, Asian economies are expected to experience a severe recession in 2009.
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사회과학대학 > 경제학전공 > Journal papers
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