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Macroeconomic Adjustments and the Real Economy in Korea and Malaysia Since 1997

  • Zainal-Abidin Mahani
  • Kwanho Shin
  • Yunjong Wang
Chapter
  • 39 Downloads

Abstract

The financial crisis that broke out in Thailand in July 1997 and then spread to other parts of East Asia brought about a deep recession, causing a sharp decline in living standards, rising unemployment, industrial breakdown, and social dislocation in the region (Park and Wang, 2002). In 1997–98, five East Asian countries — Indonesia, Korea, Malaysia, the Philippines, and Thailand — experienced deep currency and banking crises. Although a few other East Asian countries were affected to a limited extent, the Asian financial crisis was region-wide.1

Keywords

Exchange Rate Monetary Policy Real Economy Foreign Exchange Market External Debt 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Economic Commission for Latin America and the Caribbean 2006

Authors and Affiliations

  • Zainal-Abidin Mahani
  • Kwanho Shin
  • Yunjong Wang

There are no affiliations available

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