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The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies. / Miles Harris

Swansea University Author: Miles Harris

Abstract

In my study I attempt to show that all of the emerging market financial crises of the 1990s have particularly affected those economies that exhibit certain fundamental weaknesses. Chapter One discusses the rapid growth of the Asian region and outlines the fundamental weaknesses that caused the Asian...

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Published: 2001
Institution: Swansea University
Degree level: Master of Philosophy
Degree name: M.Phil
URI: https://cronfa.swan.ac.uk/Record/cronfa42235
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last_indexed 2019-10-21T16:47:27Z
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spelling 2018-08-16T14:39:02.9105634 v2 42235 2018-08-02 The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies. 6b1b97f640abdf476723ee6a20a40c3f NULL Miles Harris Miles Harris true true 2018-08-02 In my study I attempt to show that all of the emerging market financial crises of the 1990s have particularly affected those economies that exhibit certain fundamental weaknesses. Chapter One discusses the rapid growth of the Asian region and outlines the fundamental weaknesses that caused the Asian financial crisis in 1997. Subsequently, I examine the sustainability of the economic recoveries in Asia. Chapter Two considers the effects of the Asian financial crisis on the Russian economy, highlighting Russia's vulnerability to crisis and the indirect causes of these fundamental weaknesses. Russia's current economic trends are investigated. Chapter Three outlines China's similar weaknesses to the crisis-hit economies. But the Chinese currency was not forced to abandon its exchange rate peg. I will, therefore, analyse China's avoidance of the Asian financial contagion, and the obstacles which may jeopardise China's long-term economic growth. I then discuss the controversies that have arisen from the experiences of East Asia, Russia and China. This primarily concerns reducing the vulnerability of emerging markets to financial crises. Chapter Four considers the dangers that global financial integration presents for emerging markets. I appraise initiatives that attempt to maximise the benefits of capital account liberalisation while minimising the costs. Chapter Five seeks to examine the exchange rate dilemma, outlining the costs and benefits of the various regimes available, and the suitability of each arrangement for emerging market economies. Chapter Six examines the current role of the International Monetary Fund (IMF). I analyse the Fund's push for free capital mobility and its financial assistance programmes prescribed to Thailand, Indonesia and South Korea. A discussion on the future role and proposed reforms of the IMF follows. E-Thesis Economic history.;Asian history.;Russian history. 31 12 2001 2001-12-31 COLLEGE NANME Economics COLLEGE CODE Swansea University Master of Philosophy M.Phil 2018-08-16T14:39:02.9105634 2018-08-02T16:24:28.5265850 Faculty of Humanities and Social Sciences School of Management - Economics Miles Harris NULL 1 0042235-02082018162438.pdf 10797943.pdf 2018-08-02T16:24:38.6500000 Output 7116257 application/pdf E-Thesis true 2018-08-02T16:24:38.6500000 false
title The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies.
spellingShingle The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies.
Miles Harris
title_short The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies.
title_full The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies.
title_fullStr The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies.
title_full_unstemmed The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies.
title_sort The Asian financial crisis: Why some countries were more vulnerable than others, using Russia and China, in particular, as case studies.
author_id_str_mv 6b1b97f640abdf476723ee6a20a40c3f
author_id_fullname_str_mv 6b1b97f640abdf476723ee6a20a40c3f_***_Miles Harris
author Miles Harris
author2 Miles Harris
format E-Thesis
publishDate 2001
institution Swansea University
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Economics{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Economics
document_store_str 1
active_str 0
description In my study I attempt to show that all of the emerging market financial crises of the 1990s have particularly affected those economies that exhibit certain fundamental weaknesses. Chapter One discusses the rapid growth of the Asian region and outlines the fundamental weaknesses that caused the Asian financial crisis in 1997. Subsequently, I examine the sustainability of the economic recoveries in Asia. Chapter Two considers the effects of the Asian financial crisis on the Russian economy, highlighting Russia's vulnerability to crisis and the indirect causes of these fundamental weaknesses. Russia's current economic trends are investigated. Chapter Three outlines China's similar weaknesses to the crisis-hit economies. But the Chinese currency was not forced to abandon its exchange rate peg. I will, therefore, analyse China's avoidance of the Asian financial contagion, and the obstacles which may jeopardise China's long-term economic growth. I then discuss the controversies that have arisen from the experiences of East Asia, Russia and China. This primarily concerns reducing the vulnerability of emerging markets to financial crises. Chapter Four considers the dangers that global financial integration presents for emerging markets. I appraise initiatives that attempt to maximise the benefits of capital account liberalisation while minimising the costs. Chapter Five seeks to examine the exchange rate dilemma, outlining the costs and benefits of the various regimes available, and the suitability of each arrangement for emerging market economies. Chapter Six examines the current role of the International Monetary Fund (IMF). I analyse the Fund's push for free capital mobility and its financial assistance programmes prescribed to Thailand, Indonesia and South Korea. A discussion on the future role and proposed reforms of the IMF follows.
published_date 2001-12-31T03:52:34Z
_version_ 1763752599276748800
score 11.01628

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