Bibliograph

Responding to financial crisis:, lessons from Asia then, the United States and Europe now, Changyong Rhee and Adam S. Posen, editors

Type

Label

Responding to financial crisis:, lessons from Asia then, the United States and Europe now, Changyong Rhee and Adam S. Posen, editors

Language

eng

Index

no index present

Literary Form

non fiction

Main title

Responding to financial crisis:

Nature of contents

dictionaries

Responsibility statement

Changyong Rhee and Adam S. Posen, editors

Sub title

lessons from Asia then, the United States and Europe now

Summary

The Asian financial crisis of 199798 was devastating for the region, but policymakers at least believed that they gained a great deal of knowledge on how to prevent, mitigate, and resolve crises in the future. Fifteen years later, the Asian developing countries escaped the worst effects of the global crisis of 200810, in part because they had learned the right lessons from their own experience. In this important study, the Asian Development Bank and Peterson Institute for International Economics join forces to illuminate the contrast between Asia's performance during the more recent crisis with its performance during its own crisis and the gap between what the US and EU leaders recommended to Asia then and what they have practiced on themselves since then. The overriding lessons emerging from the essays in this volume are that countries need to prepare for crises as if they cannot be prevented, make room for stabilization policies and deploy them rapidly when crises hit, and address the need for self-insurance globally if they can, or regionally if they must

Target audience

adult

Classification