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Impact of Eurozone Financial Shocks on Southeast Asian Economies

dc.contributor.authorJayant Menon
dc.contributor.authorThiam Hee Ng
dc.date.accessioned2015-01-30T14:45:56Z
dc.date.available2015-01-30T14:45:56Z
dc.date.issued2013-08-01
dc.identifier.urihttp://hdl.handle.net/11540/2087
dc.description.abstractFive years after the Global Financial Crisis, the economies of the United States (US) and the eurozone continue to struggle. How will Southeast Asian economies be affected should there be a further deterioration in conditions in the eurozone? In this paper, we present estimates using a Global Vector Autoregression model of the direct impacts in Southeast Asia of a further shock to the eurozone. We find that although the direct impacts are likely to be muted, it could trigger a much larger adjustment should it lead to a reassessment of risks and asset valuations. This is a real possibility given that vulnerability in the region has increased following massive inflows of capital and the build-up of debt related to successive bouts of quantitative easing, initially in the US and now in Japan. In light of a possible reassessment of risks and asset valuations, and with the International Monetary Fund’s resources already stretched, there is a pressing need to improve regional financial safety nets, which are currently unworkable, to deal with the fallout.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleImpact of Eurozone Financial Shocks on Southeast Asian Economies
dc.typeWorking Papers
dc.subject.expertProject Evaluation & Review Technique
dc.subject.expertEvaluation Strategies
dc.subject.expertEvaluation Criteria
dc.subject.expertImpact Evaluation
dc.subject.expertRisk Financing
dc.subject.expertInfrastructure Financing
dc.subject.expertFinancial Risk Management
dc.subject.expertFinancial Crisis
dc.subject.adbEnvironmental impact assessment
dc.subject.adbNeeds assessment
dc.subject.adbCost benefit analysis
dc.subject.adbCapital Needs
dc.subject.adbInsurance Companies
dc.subject.adbFinancial Emergency
dc.subject.adbProject Risks
dc.subject.adbDevelopment Banks
dc.subject.naturalEcological risk assessment
dc.subject.naturalEnvironmental impact statements
dc.subject.naturalCumulative effects assessment
dc.subject.naturalEnvironmental impact analysis
dc.subject.naturalRisk assessment
dc.subject.naturalCountry finance
dc.subject.naturalCatastrophe bonds
dc.subject.naturalInsurers
dc.title.seriesRegional Economic Integration Working Papers
dc.title.volumeno 116
dc.contributor.imprintAsian Development Bank
oar.themeEvaluation
oar.themeFinance
oar.themeSmall Medium Business
oar.adminregionSoutheast Asia Region
oar.countryBrunei Darussalam Brunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic Republic Republic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.identifierOAR-001536
oar.authorMenon, Jayant
oar.authorNg, Thiam Hee
oar.importtrue
oar.googlescholar.linkpresenttrue


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