The Performance of East Asian Economies and Financial Markets since the 1997 Financial Crisis

The Performance of East Asian Economies and Financial Markets since the 1997 Financial Crisis

This paper documents the economic and financial recovery of East Asia based on its real GDP, export, currency value and stock performance since the 1997 financial crisis. A macroeconomic model is used to estimate the chain effect of international trade on Asian recovery. It is found that the U.S. ec...

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Bibliographic Details
Main Authors: WU, Chunchi, CHEN, Chun-nan, HE, Yan
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2003
Subjects:
Asian financial crisis
contagion
recovery
Asian Studies
Business
Finance and Financial Management
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/835
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Institution: Singapore Management University
Language: English
Description
Summary:This paper documents the economic and financial recovery of East Asia based on its real GDP, export, currency value and stock performance since the 1997 financial crisis. A macroeconomic model is used to estimate the chain effect of international trade on Asian recovery. It is found that the U.S. economy had a significant impact on the recovery of this region through close international trade relationship. Two major factors appear to explain the recent rapid recovery: (1) strong U.S. economic growth and currency value, and (2) the current account surplus and net inflow in foreign direct investment of crisis-hit countries.

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