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Global Economic Effects of the Asian Currency Devaluations
Book Data
July 1998
ISBN paper 0-88132-260-1
128 pp.
$15.95 $7.98
( 50 % discount)

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Global Economic Effects of the Asian Currency Devaluations


Policy Analyses in International Economics 56

by Li-Gang Liu ,
Sherman Robinson ,
Zhi Wang and
Marcus Noland

"This is a clear and well argued analysis of the crisis in Asia. Using an empirical model as a basis for dissecting the many complex interdependencies adds significantly to our understanding of the key policy issues..."

Warwick J. McKibbin
Professor of International Economics
Australia National University;
Non-Resident Senior Fellow
The Brookings Institution

Description

The Asian financial crisis has precipitated significant changes in real exchange rates in the region that will substantially alter the volume and pattern of international trade. The crisis countries will increase their exports and, especially, reduce their imports. Japan, China, and the other non-crisis countries will experience more complex changes. The trade balances of the United States and Western Europe will deteriorate by about $40-50 billion as a result of the currency movements in Asia.

This study, newly updated in August 1999, quantifies the impact of the currency changes on the individual countries in Asia, on the United States, on Europe and on other regions on a sector-by-sector basis. It analyzes the additional impact that might occur if China, thus far a relative bystander in the crisis, were to devalue its currency as well. It then examines potential trade policy responses to these developments including the risk of an upsurge in protectionist pressure in the United States.

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Contents

Preface

Acknowledgments

1. Introduction and Overview 583.5KB

2. Global Economic Effects 774.2KB

3. Impact on the United States 378.3KB

4. Appendices 586.9KB

References


Other books of interest:
Asian Financial Crisis: Causes, Cures, and Systemic Implications
Asian Financial Crisis: Causes, Cures, and Systemic Implications
by Morris Goldstein
Japan's Financial Crisis and Its Parallels to US Experience
Japan's Financial Crisis and Its Parallels to US Experience
edited by Adam S. Posen and
Ryoichi Mikitani
Political Economy of the Asian Financial Crisis
Political Economy of the Asian Financial Crisis
by Stephan Haggard
Toward A New International Financial Architecture: A Practical Post-Asia Agenda
Toward A New International Financial Architecture: A Practical Post-Asia Agenda
by Barry Eichengreen