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    The economic characteristics of the Asian crisis and the IMF economic stimulus recovery program

    Gan, C.; Li, G. W.
    Abstract
    Two years ago Asia’s tiger economies were celebrating the Asian miracle, operating in an environment of relatively low inflation with a stable but cautious monetary policy. However, the rising wave of growth has suddenly turned into an Asian Tsunami. Rapid growth and prudent macroeconomic policies, therefore, do not guarantee a sustainable economic environment. This paper examines the characteristics of the current economic storm in Asia and the International Monetary Fund relief effort, which has been labeled as antagonistic and ineffective in the salvaging of stricken Asian economies.
    Keywords
    International Monetary Fund (IMF); economic conditions; exchange rates; Asian financial crisis; Asia; government-business relationship
    Date
    1999-05
    Type
    Discussion Paper
    Collections
    • Commerce Division Discussion Paper series [116]
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