Asian economic and financial crises: causes, ramifications and lessons
Financial globalisation during the 1990s impinged upon world savings and investment flows, macroeconomic developments, challenges confronting policy makers, international investors and financial market regulators. Experiences of the last two decades reveal that international financial markets are subject to unpredictable swings, costly financial crises and contagions. Examples abound. Abrupt declines in asset prices were notable in the equity market decline of 1987, real estate values plummeted...[Show more]
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