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Social Consequences of the Financial Crisis in Asia: The Deeper Crisis

dc.contributor.authorJames C. Knowles
dc.contributor.authorErnesto M. Pernia
dc.contributor.authorMary Racelis
dc.date.accessioned2015-03-18T12:23:45Z
dc.date.available2015-03-18T12:23:45Z
dc.date.issued1999-07-15
dc.identifier.urihttp://hdl.handle.net/11540/2615
dc.description.abstractThe Asian financial crisis has quickly led to marked contrac¬tions in gross domestic product (GDP) and employment in the affected economies. GDP shrinkages in 1998 ranged from nearly 14 percent in Indonesia to 0.5 percent in the Philippines. In turn, these have resulted in adverse social consequences. Although there are signs that the worst of the financial crisis is over and the crisis economies are getting on the road to recovery, the social im¬pacts continue to unfold. The social crisis is likely to be deeper and can be expected to persist long after the crisis economies return to solid growth. This note derives from a study that assesses the social impact of the crisis, based on data drawn from available recent surveys, and supplemented by primary information gathered from local commu¬nities and households using participatory methods. The countries included in the study are Indonesia, Republic of Korea (Korea), Lao PDR, Malaysia, Philippines, and Thailand. The social impacts of the crisis can be gauged mainly in terms of changes in prices and assets, employment, incomes, income distribution and poverty, education, health, social capital, and environment.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleSocial Consequences of the Financial Crisis in Asia: The Deeper Crisis
dc.typeBriefs
dc.subject.expertFinancial Stability
dc.subject.expertFinancial Management System
dc.subject.expertFinancial Restructuring
dc.subject.expertCapital Market Development
dc.subject.expertErosion
dc.subject.expertMarket Development
dc.subject.expertEconomics
dc.subject.expertErosion
dc.subject.expertInternational Economics
dc.subject.adbInternational Financial Market
dc.subject.adbMultilateral Financial Institutions
dc.subject.adbEconomic Recession
dc.subject.adbMarket
dc.subject.adbCrisis
dc.subject.naturalBusiness recessions
dc.subject.naturalMultilateral development banks
dc.subject.naturalRegulatory reform
dc.subject.naturalCapital
dc.title.seriesEDRC Briefing Notes
dc.title.volume16
dc.contributor.imprintAsian Development Bank
oar.themeFinance
oar.themeEconomics
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-002921
oar.authorKnowles, James C.
oar.authorPernia, Ernesto M.
oar.authorRacelis, Mary
oar.importtrue
oar.googlescholar.linkpresenttrue


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