Assessing the Social Impact of the Financial Crisis in Asia
Pernia, Ernesto M; Knowles, James C | November 1998
Abstract
It seems clear that the evolving social crisis is both massive and potentially long-lasting. This is because the Asian financial and economic crisis, underpinned by structural problems, is more diffi¬cult to overcome than, say, the Mexican crisis that was caused by macroeconomic imbalances.
The Bank's ongoing regional technical assistance study in¬tends to provide a more comprehensive assessment of the social impact. In addition to standard socioeconomic analysis that tends to rely on quantitative macro and sectoral data, the study will un¬dertake qualitative micro-level (household and community) assessments using participatory approaches in the affected coun¬tries. This latter part of the study is intended to complement the former in providing details that typically escape the standard eco¬nomic approach.
With a more thorough understanding of the social crisis, it should be possible to better assist in devising responses and actions that would strengthen social protection systems. More generally, it should be possible to indicate critical reforms in the social sectors that would contribute to improving the prospects of long-term so¬cial development in Asian developing countries.
Citation
Pernia, Ernesto M; Knowles, James C. 1998. Assessing the Social Impact of the Financial Crisis in Asia. © Asian Development Bank. http://hdl.handle.net/11540/2624. License: CC BY 3.0 IGO.Keywords
Development
Finance
Development Challenges
Development Issues
Development Problems
Microenterprises Finance
Commercial Finance Companies
Enterprise Financing
Financial Analysis
Banking Finance And Investment
ADB
Project finance
Development plans
Strategic planning
Business Financing
Investment Requirements
Insurance Companies
International Monetary Relations
International Financial Market
Exchange Rate
Insurers
Insurance stocks
Insurance holding companies
Insurance carriers
Insurance agencies
Business subsidies
Investment companies
International banks and banking
Stock exchanges
Grants
Loans
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