Investment in the wake of crises: Asia 15 years later

Carmen M Reinhart, Takeshi Tashiro, 17 December 2013

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However straightforward the role of investment as a shock absorber in a time of crisis, it is perplexing why it takes so many years to recover afterwards – if it recovers at all. A prolonged investment slump is not a new phenomenon following a deep crisis.

Topics: International finance
Tags: Asian crisis, capital flows, sudden stop

Financial crises in emerging markets: The impact of private sector risk

Betty C. Daniel, 1 July 2012

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What causes financial crises? The causes of the global crisis of 2008-2009 have been widely analysed (see for example Eichengreen 2008), just as the Asian crisis was in the 1990s. As economists, we want to attribute crises to something like fraud, greed, cronyism, or misbehaviour of some kind. We want to think that if we can control misbehaviour, we can eliminate crises.

Topics: Development, Financial markets, Global crisis
Tags: Asian crisis, emerging markets, private sector, South Korea

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