The Asian Crisis is not a single crisis, but rather a series of
inter-related crises that are very different in detail. Many books
have appeared to trace the causes and recount the events
responsible but, for the first time, McLeod and Garnaut, from the
Australian National University, have brought together some of the
world's leading experts on Asian economies for a more useful,
technical and analytical overview to draw general lessons from the
crisis. This book includes case-studies of 13 countries (from
Thailand to Australia) in the Asian region, describing how the
crisis developed and affected them, and how their governments have
responded. Further chapters analyze the causes, the management of
such crises, the preventive measures against future crises and the
likely implications for on-going deregulatory and other economic
reforms. A particularly nice perspective to the book is the
comparison with countries which have not experienced crisis. This
book contains the right amount of technicality so that, while
informative, it does not read like a dry textbook, and should
appeal to a wide audience including economists, business managers
and policymakers. (Kirkus UK)
The current economic crisis in East Asia is unprecedented in world economic history. It seemed the economic strength of the region, until very recently, would just keep growing. Now, the macroeconomic achievements of Asia are under threat and the economies of North America and Europe are feeling the results. This book brings together the thoughts of leading experts on the Asian economy and provides a broad and thorough analysis of the situation. It provides case studies from fourteen countries in the region, how the crisis developed and affected them, and the response from governments. There are other non-country specific chapters with a strong theoretical content which address issues such as causation, how such a crisis should be handled, how it might be avoided in the future, and the likely implications for on-going deregulatory and other economic reforms. This is an important authoritative account of one of the most extraordinary economic events and provides a broad synthesis of case studies and theoretical approaches from a variety of researchers with an intimate knowledge of the region.
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