Long-Run Effects of Asian Financial Crisis

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I am an honours student majoring ,of course, in economics. I am doing a thesis titled, "To what extent does Asia's economic crisis of 1997-1998 call into question the 'Asian model' which has produced such rapid growth over the last few decades?"

I was doing research when I stumbled upon your website and was wondering whether you could perhaps aid me in information or research given your impeccable credentials.

-- John Sweidan (swdjon@hotmail.com), April 25, 2000



My favorite books on the Asian crisis are Morris Goldstein's _The East Asian Financial Crisis_ and Barry Eichengreen's _Toward a New International Financial Architecture: A Practical Post-Asia Agenda_.

Back in 1997-1998, you had a lot of people claiming that the financial crisis showed the bankruptcy of the Asian model. Today it's a lot harder to find such people--it seems very clear that the crisis arose out of investor panic, and not out of any deep structural flaws in East Asian economies that doom them to slow growth in the future.

-- Brad DeLong (delong@econ.berkeley.edu), April 25, 2000.

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