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Article
Asia's economic crisis and the IMF
Survival
  • Shalendra SHARMA
Document Type
Journal article
Publication Date
1-1-1998
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
Language
English
E-ISSN
14682699
Publisher Statement

Copyright © Oxford University Press (England) 1998

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Citation Information
Sharma, S. (1998). Asia's economic crisis and the IMF. Survival, 40(2), 27-52. doi: 10.1080/00396338.1998.10107835