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Keywords:Financial crises - Asia 

Journal Article
The Asian financial crisis: causes and lessons

Economics Update , Issue Jul , Pages 5

Conference Paper
The Asian financial system: recovered and ready to play a significant global role

Proceedings , Issue Sep

Journal Article
Asia’s role in the post-crisis global economy

In the wake of the global financial crisis of 2007?08, Asia has emerged as a pillar of financial stability and economic growth. A recent San Francisco Federal Reserve Bank conference focused on Asia?s changing role in the global economy. Asia?s relative strength is allowing it to play an expanded part in multilateral responses to the European sovereign debt crisis. And the reforms put in place following the 1997 Asian financial crisis offer models for countries currently trying to stabilize their economies.
FRBSF Economic Letter

Journal Article
Borrowing constraints and asset market dynamics: evidence from the Pacific Basin

This paper estimates a linearized, stochastic version of Kiyotaki and Moore's (1997) credit cycle model, using land price data from Hong Kong, Japan, and Korea. It is shown that the welfare costs of borrowing constraints are positively related to the persistence of (detrended) land price fluctuations. When the residual demand curve for land is inelastic and the steady state share of land held by the constrained sector is less than 30 percent, welfare costs are less than 1 percent GDP in all countries. However, the strained sector becomes more important and as the elasticity of ...
Economic Review

Working Paper
Capital controls during financial crises: the case of Malaysia and Thailand

This study examines the impact capital controls had in Malaysia (1998-1999) and Thailand (1997). We aim to assess the extent to which the capital controls were effective in delivering the outcomes that motivated their imposition. We conclude that in Thailand the controls did not deliver much of what was intended--although, one does not observe the counterfactual. By contrast, in the case of Malaysia the controls did align closely with the priors of what controls are intended to achieve: greater interest rate and exchange rate stability and more policy autonomy.
International Finance Discussion Papers , Paper 662

The Asian financial crisis ten years later: assessing the past and looking to the future

Speech to the Asia Society of Southern California, Los Angeles, California, February 6, 2007
Speech , Paper 31

Journal Article
How will the Asian financial crisis affect the Southeast?

Regional Update , Issue Jan , Pages 1,3-4

Journal Article
How do currency crises spread?

FRBSF Economic Letter

Journal Article
Effects of Asian financial crisis uncertain for District

Fedgazette , Issue Jan , Pages 9

Working Paper
Determinants and repercussions of the composition of capital inflows

The Mexican, Asian, and Russian crises of the mid- and late 1990s have renewed the interest among policymakers in the determinants and effects of private capital flows. This paper analyzes whether policies can affect the composition of capital inflows and whether different compositions aggravate crises. We find that, while fundamentals matter, capital controls can affect the mix of capital inflows that countries receive. We find that during the Asian crisis countries with more Yen denominated debt faired worse, while during the Mexican crisis larger short-term debt stocks increased the ...
International Finance Discussion Papers , Paper 717


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Glick, Reuven 5 items

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Financial crises - Asia 75 items

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