Asia's economic crisis and the IMF
Document Type
Journal article
Source Publication
Survival
Publication Date
Summer 1-1-1998
Volume
40
Issue
2
First Page
27
Last Page
52
Abstract
In summer 1997, the high-performing East and South-east Asian economies faced a financial crisis of unprecedented proportions. In a matter of weeks, once-vibrant economies and their strong currencies witnessed a meltdown, forcing them to turn to that lender of last resort, the International Monetary Fund (IMF), for assistance. A careful examination of the long-term as well as the immediate causes of the crisis refutes the widely held view that no one predicted the crisis. The crisis could have been avoided if the over-exuberant Asian governments had heeded the IMF's early warning. The IMF's policy prescriptions are not only working, but those states in the region that follow them will do best.
DOI
10.1080/00396338.1998.10107835
Print ISSN
00396338
E-ISSN
14682699
Publisher Statement
Copyright © Oxford University Press (England) 1998
Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Sharma, S. (1998). Asia's economic crisis and the IMF. Survival, 40(2), 27-52. doi: 10.1080/00396338.1998.10107835