Crises in Asia: Historical Perspectives and Implications
Hong, Kiseok; Lee, Jong-Wha; Tang, Hsiao Chink | April 2009
Abstract
The paper analyzes the stylized features of historical crisis episodes for 21 developing Asian economies over 1961–2007. The paper finds that while there is substantial diversity, on average, recessions and financial downturns are more frequent, longer lasting, and more severe in Asia than in the Organisation for Economic Co-operation and Development countries. The paper also finds that the likelihood and severity of a recession tends to increase when it is associated with credit crunches or stock market crashes. Severe financial downturns or recessions in the global economy are often coupled with financial crises or recessions in Asia. In view of the current global crisis and severe financial downturns, Asian economies are expected to experience a severe recession in 2009
Citation
Hong, Kiseok; Lee, Jong-Wha; Tang, Hsiao Chink. 2009. Crises in Asia: Historical Perspectives and Implications. © Asian Development Bank. http://hdl.handle.net/11540/1809. License: CC BY 3.0 IGO.ISSN
1655-5252
Keywords
Project Evaluation & Review Technique
Evaluation Strategies
Evaluation Criteria
Impact Evaluation
Risk Financing
Infrastructure Financing
Financial Risk Management
Financial Crisis
Environmental impact assessment
Needs assessment
Cost benefit analysis
Capital Needs
Insurance Companies
Financial Emergency
Project Risks
Development Banks
Ecological risk assessment
Environmental impact statements
Cumulative effects assessment
Environmental impact analysis
Risk assessment
Country finance
Catastrophe bonds
Insurers
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Citable URI
http://hdl.handle.net/11540/1809Metadata
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