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150128 ||| eng |
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|a 9781451935547
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|a Kochhar, Kalpana
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| 245 |
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|a The East Asian Crisis
|b Macroeconomic Developments and Policy Lessons
|c Kalpana Kochhar, Prakash Loungani, Mark Stone
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1998
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| 300 |
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|a 55 pages
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| 651 |
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4 |
|a Indonesia
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| 653 |
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|a Interest rates
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| 653 |
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|a Banks
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| 653 |
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|a Finance
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| 653 |
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|a Banks and banking
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Currency; Foreign exchange
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| 653 |
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|a Financial services
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| 653 |
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|a Fiscal Policy
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Mortgages
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| 653 |
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|a Business enterprises
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Financial Institutions and Services: General
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| 653 |
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|a Banking
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Commercial banks
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Financial institutions
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| 653 |
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|a Real interest rates
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a Ownership & organization of enterprises
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| 653 |
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|a Economywide Country Studies: Asia including Middle East
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| 653 |
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|a Corporate Finance and Governance: General
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| 653 |
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|a Trade: General
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| 653 |
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|a International economics
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| 653 |
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|a Economic sectors
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| 653 |
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|a Corporate Finance
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| 653 |
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|a Corporate sector
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| 653 |
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|a Export performance
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| 653 |
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|a Exports
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Financial services industry
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| 653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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| 653 |
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|a Exchange rates
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| 653 |
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|a Financial sector
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| 700 |
1 |
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|a Loungani, Prakash
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| 700 |
1 |
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|a Stone, Mark
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781451935547.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/1998/128/001.1998.issue-128-en.xml?cid=2740-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a This paper reviews macroeconomic developments during the first year of the crisis in east Asia and draws some preliminary policy lessons. The crisis is rooted in the interaction of large capital inflows and weak private and public sector governance. At the same time, macroeconomic adjustment in these countries has resulted in some surprising outcomes, including severe economic contractions, low inflation, and rapid external adjustment. The lessons for crisis resolution include the importance of tight monetary policy early on for exchange rate stabilization, flexible fiscal policy, and comprehensive structural reform. Crises are avoided by prudent macroeconomic policies, diligent bank supervision, transparent data dissemination, strong governance, and forward-looking policymaking, even in good times
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