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Weathering the Asian Crisis: the role of China

Yang, Yongzheng; Tyers, Rod; Yang, Yongzheng; Tyers, Rod


During the Asian crisis, China's healthy reserves and low debt made possible the avoidance of a 'country run'. Nonetheless, it did experience an apparently autonomous rise in private savings and a rise in capital outflow. This paper employs global general equilibrium analysis to examine the relative contributions of external and internal shocks in China during the crisis. The savings rise appears to have been dominant domestically and, by coincidence of timing, it was a significant contributor...[Show more]

CollectionsANU Research Publications
Type: Working/Technical Paper
Source: Pacific Economic Papers
Access Rights: Open Access


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