Asian Economic Crisis 97/98 - Issues in Macroeconomic Imbalances, Capital Outflows and Financial Crises

Spot Survey


Edited by KUNIMUNE Kozo
Published in March 2000 *

Preface (88.2KB) / Kozo Kunimune

Part I: Analysis by Topic -
Chapter I

Macroeconomic Overview and Debt Problems (1.15MB) / Kozo Kunimune, Miki Takeda

Introduction – Explanation of vocabulary Employed
1. Macroeconomic Overview
2. Balance of Payments and Debt Problems
Chapter II
1. How Should International Financial Markets Be Understood?
2. Are Capital Controls Effective?
Chapter III

The Financial System: Problems and Responses (1.00Mb) / Kozo Kunimune, Yurika Suzuki

1. Why is a Financial Crisis a Problem?
2. Responses to a Financial Crisis
3. Responses by Individual Countries
4. The Distress of Asian Economies – Evaluating Responses
5. Conclusion
Chapter IV

The Role of the IMF (986KB) / Kozo Kunimune, Chie Kasiwabara

1. What is the IMF?
2. Three Major Roles of the IMF
3. Proposals
Supplementary Article – What is Conditionality?

Part II: Country Analysis -
Chapter V

The IMF Program in Indonesia (1.43MB) / Shinichi Watanabe

1. The Technocrat’s IMF Program without the IMF: Before October 8
2. Cooperation between the Technocrats and the IMF: from October 8 to January 6
3. The Confrontation between Soeharto and the IMF: January 6 to May 21
4. The Indonesian Government and the IMF: from May 21
5. Conclusion
Chapter VI
1. The IMF Support for Korea and What Lay Behind It
2. Until the Present: the Current Problem is Measures Against Tight Lending
3. Recent Measures
4. Issues Remaining
Chapter VII
1. Thailand’s Economic Reform under the IMF Policy Conditionalities
2. Plans for Financial Sector Restructuring and Consolidation of Financial Institutions
Concluding Chapter

Supplementary Remarks and Proposals (469KB) / Kozo Kunimune

1. From the Asian Crisis to a World Crisis
2. Summary of Our survey
3. Economic Reconstruction as a Part of Worldwide Reflation Policies
4. The Japan and Japan’s Role